Navigate Up
Sign In
Skip Navigation Links
POS Guaranteed Plan
Search :
E.g.: Life Insurance
Insurance Plan I am looking for :










IDBI Federal Life Insurance POS Guaranteed Plan (UIN: 135N049V01)

Do you think your life has too much hassle of day-to-day worries? Do you think life can be sorted with simple and uncomplicated things? Is managing your investments becoming too much of hassle? If your answer is to these questions is yes, then here is a simple yet effective solution by IDBI Federal Life Insurance.

IDBI Federal Life Insurance POS Guaranteed Plan* is a non-linked non-participating life insurance plan which offers you to make onetime payment and then sit back and enjoy the benefits. The plan provides you a life cover for 7 years and gives you a maturity lumpsum at the end of 7 years.

  • Pay premiums once and get life cover for 7 years
  • With POS Guaranteed Plan you pay your premium only once and then get life insurance protection for 7 years.

  • Enjoy guaranteed benefit irrespective of market conditions.
  • After paying your premium, you will receive guaranteed maturity amount at the end of the 7th year. This payout is guaranteed irrespective of market conditions. The payout is expressed as a percentage of your single premium (excluding applicable taxes) and depend on your age at entry and premium amount. This is explained in further detail under ‘How the plan works’ section.

  • Receive your benefits as a lump sum on maturity.
  • With POS Guaranteed Plan you pay your premium only once and then allow your investments to nurture with guaranteed returns till the maturity. You will receive your maturity amount as a Lumpsum at the end of the 7th year.

  • Get tax benefits of Sec 80C and Sec 10(10D)
  • a. Deduction under section 80C: The premium that you pay is eligible for deduction under section 80C of the Income Tax Act, 1961. For the Financial year FY 2016 – 17 deduction can be claimed under Section 80CCE up to Rs. 1,50,000 for the total payments, contributions made under Sections 80C, 80CCC and 80CCD.

    b.Tax-free benefits under section 10(10D): The benefits received under the plan are tax-free under section 10(10D) of the Income Tax Act, 1961.

    Please note that tax laws may change from time to time. Consult your tax advisor for determining the Tax benefits applicable to you.

IDBI Federal Life Insurance POS Guaranteed Plan is a single premium plan with 7 years term. In the event of death of the insured person during the term of the policy the company will provide death benefit. On survival of the insured till maturity of the policy, maturity benefit will be provided..

a) Choose the amount that he would like to invest from the available options
b) Pay premiums once, at the commencement of the policy and policy term will be 7 year


Maturity Benefit:
Policyholder will receive Maturity sum assured (MSA) on survival at the end of the policy term. This is a defined percentage of the single premium payable and depends on the age at entry of the life insured and the premium amount. On this payment, the policy shall terminate and all rights, benefits and interests under the policy shall stand extinguished.

Maturity Sum Assured = Maturity Factor X Single premium

Death Benefit:
On the death of the insured person before the maturity date and while the policy is in force, we will pay to the beneficiary the Death Sum Assured subject to the waiting period. Once a death claim is be paid, the policy will be terminated.

Death Sum Assured:
Death Sum Assured is 10 times of Single Premium excluding Service Tax, if any.

Waiting Period:
Waiting period is first 90 days from the date of commencement of policy. In case of Death (other than accidental death) during Waiting Period, only 100% of Single Premium excluding Service Tax, if any, will be paid. Waiting period is not applicable for accidental death. Waiting period is first 90 days from the date of commencement of policy. In case of Death (other than accidental death) during Waiting Period, only 100% of Single Premium excluding Service Tax, if any, will be paid. Waiting period is not applicable for accidental death.

On payment of Death Benefit, the policy will terminate and all rights, benefits and interests under the policy will stand extinguished.


Eligibility

Age at entry oflife insured(last birthday)

Min 11 years$;

Max

43 years

Age at maturity of the life insured(last birthday)

Max 50 years

Single Premium

Min Rs.50,000/- and thereafter in multiples of 5,000

Max

Rs. 1,00,000

Premium payment period

Fixed Single premium

Policy Term

Fixed 7 years

$Policies on lives of minors can be taken only by parents / grand-parents / legal guardian
No change in the sum assured / premium amount is allowed during the term of the policy.

IDBI Federal Life Insurance POS Guaranteed Plan (UIN No. 135N049V01) is a non-linked, non-participating insurance plan. This product does not participate in the profits of the Company. This product is underwritten by IDBI Federal Life Insurance Company Limited (Regn. No 135; Corporate Identity Number (CIN) – U66010MH2007PLC167164) having its registered office at 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel – East, Mumbai – 400013. Tax benefits are as per the Income Tax Act, 1961 and are subject to changes in the tax from time to time. IDBI Federal Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this advertisement. Please consult your own tax consultant to know the tax benefits available to you. Trade Logo displayed above belongs to IDBI Bank Limited, The Federal Bank Limited and Ageas International Insurance N. V. and used by IDBI Federal Life Insurance Company Limited under license from respective partners.

  • Visit any branch of IDBI Bank, Federal Bank or IDBI Federal Life Insurance Co Ltd. Visit your nearest branch Call us on our nationwide toll free number 1800 209 0502 from Monday to Saturday at any time between 8 am to 8 pm.
  • Email us at: support@idbifederal.com
Pay Online
You can pay your premiums swiftly and safely, just follow these 3 simple steps. It’s really simple and convenient.