Advantage Bondsurance™

Maximise your returns

A. Discount on Single Premium Account increases your effective return

If you choose a Maturity Benefit of Rs 1,50,000 or higher for your Bondsurance™ Plan, you will also get a discount on the single premium amount as per the Discount Table below. As a result of the discount, the single premium payable will reduce and your effective return will increase.

Discount rate applies on the premium as per the Premium Table. Service tax and education cess are payable on the single premium amount after discount

B. Premature Surrender facility provides liquidity before maturity

IDBI Federal Bondsurance™ Plan also provides liquidity before maturity. In case of an urgent financial need, you have the option to prematurely redeem your Bondsurance™ Plan by surrender after one year. You will receive Special Surrender Value , which will be announced by us from time to time. The surrender value is at least 80% of the single premium paid.

C. Tax Benefits enhance your returns

IDBI Federal Bondsurance™ Plan is designed to give you attractive tax benefits. Bondsurance™ gives you two benefits under the Income Tax Act, 1961: Sec 80C and Sec 10(10D).

- Deduction under Sec 80C

Under Section 80C of the Income Tax Act, 1961, the premiums you pay towards your policy are eligible for deduction from your income to the extent of 10% of the actual capital sum assured*, subject to a limit of Rs. 1,00,000 per year.

- Tax-free Benefits under Sec 10(10D)

Under Section 10(10D) of the Income Tax Act, 1961, the death benefit payable under your policy will qualify for tax exemption. However, the other benefits you will receive under your policy will be subject to tax.

You are advised to consult your tax advisor for details. Please note that tax laws may change from time to time, and tax benefits applicable will be as per prevailing tax laws.

*Actual Capital Sum Assured:
It is the minimum amount assured under the policy on death at any time during the term of the policy, not taking into account the value of any premium agreed to be returned or any benefit by way of bonus or otherwise which is to be received by any person under the policy over and above the sum actually assured.

This product is underwritten by IDBI Federal Life Insurance Company Limited (Regn. No 135) having its registered office at: 1st Floor, Tradeview, Oasis Complex, Kamala City, P.B. Marg, Lower Parel (West), Mumbai 400013, Tel: 022 2490 8109 Fax: 022 2494 1016. Insurance is the subject matter of the solicitation. Product UIN: 135N003V01.