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Lifesurance® Whole Life Insurance Plan
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IDBI Federal Lifesurance® Whole Life Savings Insurance Plan (UIN 135N035V01)

We all want to live long and see our future generations grow and prosper. However, not many of us plan for the long life that we wish for, either because we do not know how to go about it or because we believe it is an arduous task.

Presenting, IDBI Federal Lifesurance Whole Life Savings Insurance Plan (hence referred to as Lifesurance Whole Life) which helps you plan for a long and worry-free life in a simple and convenient way.

IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked participating whole life savings plan. A plan that lets you enjoy life & live your dreams with 2 lump sum payouts; first at the end of your premium payment term and second when you reach 100 years of your age. Plus, it keeps your family financially secured throughout the period of 100 years, with you or without you being around!

Lifesurance Whole Life plan comes with a range of benefits that help you efficiently plan for all your financial responsibilities towards your family:

  1. Life cover up to 100 years of age
  2. With Lifesurance Whole Life, your family stays financially secured up to your age of 100 years. This means that in the unlikely event of your death before you attain 100 years of age, your family will receive a lump sum as the death benefit.

  3. Lump sum payout at the end of Premium Payment Term (PPT)
  4. At the end of the PPT, that is the number of years for which you pay premiums, you receive a lump sum amount. This amount includes your chosen guaranteed sum assured, guaranteed additions and bonuses accrued till then. You can use this amount to fund any important financial goal that you have for self or your family.

  5. Additional lump sum payout when you reach 100 years of age
  6. With Lifesurance Whole Life, there is a reward for living long. When you reach 100 years of age, you get another lump sum amount which is the highest of:

    • Higher of (Guaranteed sum assured, 10 times annual premium or 105% of all premiums paid) plus Vested reversionary bonuses (accrued from the year after the end of PPT till 100 years of age), plus Terminal bonus (if any) and bonuses accrued from the year after the end of PPT. You can use this additional amount to gift it to your future generations as a token of your love.

  7. Guaranteed additions and bonuses to boost your savings
  8. In the first 5 years of the policy, you get guaranteed additions at the rate of Rs.50 per Rs. 1,000 of guaranteed sum assured. From the 6th year onwards, you get reversionary bonus that gets accrued in the policy at the end of every year and is paid out at the end of PPT. The policy will also be eligible to receive reversionary bonuses accrued after the PPT plus terminal bonus, which will be paid out at maturity or on death. For more information, please refer to the sales brochure.

  9. Option of Accidental Death Benefit during PPT
  10. If you opt for Accidental Death Benefit, your family gets an additional payout equal to the guaranteed sum assured in the unfortunate event of your accidental death during the PPT. For more information on this benefit, please refer to the sales brochure.

Lifesurance Whole Life is a simple whole life savings plan, which lets you enjoy your dreams and secure your family’s future at the same time. With this plan,

  • You pay your premiums regularly for the chosen PPT.
  • On survival till the end of the PPT, you get a lump sum amount. It includes,
    • Guaranteed sum assured
    • Vested guaranteed additions
    • Accrued bonuses, if any
  • However, in case something happens to you during the PPT, your family gets the death benefit. This includes,
    • Death sum assured
    • Vested guaranteed additions
    • Accrued bonuses, if any
  • Also, in case of your unfortunate death due to an accident during PPT and if ‘Accidental Death Benefit (ADB)’ has been opted for, your family gets an additional amount equal to the guaranteed sum assured. This is in addition to the death benefit payable. The ADB is subject to a maximum limit of Rs 50 lac on a single life across all policies issued by IDBI Federal.
  • However, in case something happens to you after the end of PPT and before you reach 100 years of age, your family gets a death benefit. This includes,
    • Death sum assured, plus
    • Vested reversionary bonuses (accrued from the year after the end of PPT till the date of death), plus
    • Terminal bonus (if any)
  • Also, if you live till 100 years of your age, you get another payout, which includes:
    • Death sum assured, plus
    • Vested reversionary bonuses (accrued from the year after the end of PPT till 100 years of age), plus
    • Terminal bonus (if any)

Bonuses

Reversionary Bonus
We will declare two rates of reversionary bonus,Reversionary bonus from 6th policy year till end of PPT – It is the bonus rate applicable for the policy from the 6th policy year till the end of the premium payment term.

Reversionary bonus from the year after the end of premium payment term till maturity – It is the bonus rate applicable for the policy from the year after the end of premium payment term till maturity.

Terminal bonus
Terminal bonus is paid on maturity or death, provided all the due premiums have been paid.

We may also declare an interim bonus in the event of a claim made before the subsequent bonus declaration.

All the bonuses declared are expressed as a rate on the guaranteed sum assured.

Criteria Minimum Maximum
Age at entry 18 years
  • 55 years (Subject to a maximum age at the end of PPT being 75 years for cover without Accidental Death Benefit)
  • 53 years (Subject to a maximum age at the end of PPT being 65 years for cover with Accidental Death benefit)
Age at maturity 100 years
Premium payment term 12 years 30 years
Premium payment frequency Yearly, Half-Yearly, Quarterly, Monthly
Modal frequency factor 0.51 for half yearly, 0.26 for quarterly and 0.09 for monthly mode
Premium (exclusive of service tax and education cess) Rs. 10,000 per annum for all modes except for monthly mode
Rs 12,000 per annum for monthly mode
No limit subject to underwriting approval
Guaranteed Sum Assured Depending on age at entry and premium payment term No limit subject to underwriting approval

All ages are as per last birthday

Insurance is the subject matter of solicitation. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Tax Benefits are as per the Income Tax Act, 1961 and are subject to changes in the tax laws from time to time. IDBI Federal Lifesurance Whole Life Savings Insurance Plan (UIN 135N035V01) is a non-linked whole life participating endowment plan. The product is underwritten by IDBI Federal Life Insurance Company Limited (IRDAI Regn. No 135; Corporate Identity Number (CIN) - U66010MH2007PLC167164) having its registered office at: IDBI Federal Life Insurance Company Limited, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East), Mumbai 400013, India.

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