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Fund switch is a term related to unit-linked life insurance policies (ULIPs). These policies invest your premium (minus charges) in unit-linked funds. These funds have a varying proportion of debt and equity investments. According to your needs and preferences, you can move your investments from one fund to another in the proportion that suits your need. This activity is called fund switch.


No. When you make a fund switch, the new allocation applies to the amount already invested, that is, the existing units. If you wish to ensure that all renewal premiums are also invested according to your new preference, you will have to opt for the premium redirection facility.

Take Ashwin’s case for instance.
When Ashwin purchased a ULIP, he had indicated 40% of his investment to be invested in Debt Fund and 60% in Equity Growth Fund.

Three years later, Ashwin wanted to reduce his investment’s exposure to equity and opted for fund switch. After the switch, he had 80% of his investment in Debt Fund and 20% in Equity Growth Fund; this was exactly the proportion he wanted.

Ashwin wanted to have his renewal premiums invested in the same ratio as earlier that is 60% in Equity Growth Fund and 40% in Debt Fund. Hence, he did not opt for premium redirection.


Currently, there are no charges.


You can avail of the online fund switch facility by following these simple steps:

  1. Download the application form:
  2. Print and fill in the application form
  3. Attach a self attested photo identity proof (Passport, Driving License, Aadhaar Card, PAN card) along with this application form
  4. Send this application along with the identity proof to:
     
    IDBI Federal Life Insurance Co. Ltd.
    22nd Floor, A Wing, Marathon Futurex,
    N. M. Joshi Marg, Lower Parel (East),
    Mumbai 400013, India.
    Tel: 022 - 2302 9200
    Fax: 022 - 2302 9499

    OR

    Submit the application to the nearest IDBI Federal branch.

  5. On the top of the envelope, please mention: ‘Application for registration on portal for online transactions’.
  6. On successful registration, you will receive an email/SMS from us. You can then start using the online fund switch facility.

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