IDBI Federal Wealthsurance® Growth Insurance Plan Single Premium (Product UIN: 135L034V01)
In today’s fast moving world, we have little time for various things, yet we expect
the desired output. When it comes to our investments, the expectation is the same.
Presenting, IDBI Federal Wealthsurance Growth Insurance Plan SP (hereafter referred
to as Wealthsurance SP), which recognises your need for little effort and desired
return. With this plan, you pay premium just once and you can enjoy the growth of
your wealth. What’s more, your family stays financially secured with a life cover!
The IDBI Federal Wealthsurance SP is a single premium unit-linked insurance plan.
A one-time investment plan, whereby paying the premium once, you allow your investment
to enjoy returns of the selected funds. The plan also offers you life cover providing
your loved ones with financial protection in case of any eventuality. In a nutshell,
it is a smart investment plan that helps you maximise the potential of your windfall,
rather than let it sit idle.
Wealthsurance SP comes with a range of benefits that help you earn maximum returns
on your investments:
- One-time premium payment
You pay premium just once and enjoy returns of the selected funds! If you find regular
premium payments a hassle, Wealthsurance SP is the plan for you. What’s more, this
plan never lapses!
- Choice of 9 funds and the freedom to switch among funds
IDBI Federal Investment Basket gives you the choice of 9 funds to invest in based
on your risk profile and return expectations. In case you manage your funds on your
own, you can switch your investment between funds, without any charges.
- Guaranteed loyalty additions to boost your investment
At the end of the 5th policy year and every 5 years thereafter, you get guaranteed
loyalty additions as a reward for staying invested in the plan. For more details
on loyalty additions, please refer the product brochure.
- Easy access to your investment through partial withdrawal
In case of any emergency fund requirement, you can withdraw money from your Wealthsurance
SP policy through partial withdrawals. These partial withdrawals are free of cost
and can be availed of after the 5th policy anniversary. You can withdraw from a
minimum of Rs 10,000 to a maximum of 20% of your fund value at the beginning of
corresponding policy year. For more details on partial withdrawals please refer
the product brochure.
- Life cover for the financial protection for your loved ones
In case of an unfortunate event of your demise, your nominee will get the death
benefit which is the higher of the sum assured or the fund value at that time. The
death benefit will always be at least 105% of the single premium paid.
Wealthsurance SP works in a very simple way. The investment that you make towards
your policy is managed by way of two accounts - (a) Investment Account and (B) Insurance
- My Investment Account:
- The premium that you pay (less applicable charges) is invested
into the funds chosen and in the proportion as specified by you. IDBI Federal Investment
Basket offers you 9 fund options to choose from, which helps you make an investment
decision as per your risk appetite.
- The balance in your investment account reflects the wealth built
over time from your premium contribution and the returns generated from the investment
options chosen by you.
- My Insurance Account:
- You can choose the sum assured amount depending upon the amount
of financial cover you want for your family. It is a percentage of your premium
payment. The charges for this benefit are deducted from your investment account.
Minimum / Maximum
Wealthsurance Growth Insurance Plan SP
Age at entry
• 1 month completed
• 70 years
Age at maturity
• 18 years
• 75 years
• 5 years /10 years /15 years / 20 years / 25 years Subject to minimum and maximum
maturity age as mentioned above
Premium payment term
• Single premium
• Rs 25,000
• No Limit (subject to underwriting)
Basic sum assured
For age at entry below 45 years
For age at entry of 45 years and above
- 1.25 times the single premium
- 1.10 times the single premium
For age at maturity up to 48 years
For age at maturity greater than 48
- Age at entry less than 45: 1.25 times single premium
- Age at entry equal or greater than 45 : 1.10 times single premium
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 Wealthsurance Growth Insurance Plan
SP is a Unit Linked Insurance Plan. Unit Linked Life Insurance products are different
from traditional insurance products and are subject to the risk factors. The various
funds offered under this contract are the names of the funds and do not in any way
indicate the quality of these plans, their future prospectus and returns. The premiums
paid in these policies are subject to investment risks associated with capital markets
and the NAVs of the units may go up or down based on the performance of fund and
factors influencing the capital market and the insured is responsible for his/her
decisions. IDBI Federal Life Insurance Company Limited and IDBI Federal Wealthsurance
Growth Insurance Plan SP (UIN : 135L034V01) are only the names of the insurance
company and linked insurance contract respectively, and do not in any way indicate
the quality of the contract, its future prospects or returns. Please know the associated
risks and the applicable charges from your Insurance Agent or the Intermediary.
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.