IDBI Federal Wealthsurance® Growth Insurance Plan (UIN:135L036V01)
As a smart and dynamic individual, you have always charted your own path through
life. So when it comes to investing your hard-earned money, you definitely want
to stay in complete control.
Presenting, IDBI Federal Wealthsurance Growth Insurance Plan (hereafter referred
to as Wealthsurance Growth), which lets you build your wealth, exactly the way you
want. With this plan, you get complete flexibility in steering your investments,
basis your financial goals in life. What’s more, your family stays financially secured
with a life cover!
The IDBI Federal Wealthsurance Growth Insurance Plan is a regular premium
unit-linked insurance plan. A plan that gives you freedom to decide how much you
want to invest and for how long you want to stay invested. With a bouquet of 9 fund
offerings, it gives you the freedom to invest in one or more funds, basis your risk
appetite and financial goals in life. Plus it comes with a life cover benefit that
ensures financial security for your loved ones. In a nutshell, a smart investment
plan that helps you design your investments, your way!
Age at entry
1 month completed
Age at maturity
Policy Term (PT)*
10 years (in multiples of 5 thereafter)
Premium Payment Term (PPT)
Up to the policy term
Rs. 25,000/- annually
Rs. 95,000/- annually subject to underwriting approval
For ages at entry below 45 years:
For ages at entry 45 years and above:
- 10 X annualised premium
- (0.5 X PT X annualised premium)
The minimum sum assured under the policy is Rs 1, 75,000
- 7 X annualised premium
- (0.25 X PT X annualised premium)
For ages at entry less than 54 years:
For ages at entry 54 years and above:
- PPT X 2 X annualised premium subject to a maximum of 15 X annualised premium
- If PPT is greater than 7:
10 X annualised premium
- If PPT is less or equal to 7:
7 X annualised premium
All ages are as per last birthday
*Note: In case of policies where the life assured is a minor:
- Risk commences on the policy commencement date
- The minimum policy term is 10 years or (18 years less entry age of child insured)
in multiples of 5, whichever is higher e.g. if a child is aged 4 years the minimum
term is 18-4 =14, rounded to the next multiple i.e. 15 yrs.
Wealthsurance Growth comes with a range of benefits that help you maximize returns
on your investments:
- Choose how much you want to invest and for how long
Wealthsurance Growth lets you choose how much you want to invest, the duration for
which you want to pay and for how long you want to stay invested. A plan designed
by you, for you!
- Manage your investments as per your risk appetite
IDBI Federal Investment Basket gives you the choice of 9 funds to invest in based
on your risk profile and return expectations. You can either manage it yourself
or leave it to us without any additional charges. In case you choose to manage your
funds on your own, you can switch your investment between funds. The switches are
free of cost.
- Get guaranteed loyalty additions to boost your investment
At the end of the 10th 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 guaranteed loyalty additions, please refer the product brochure.
- Life Cover benefit to financially secure 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 total premium amount paid.
- Get tax benefits on the premiums paid as well as the benefits received
Tax benefits under section 80 C and 10(10D) are applicable as per provisions of
the Income Tax Act, 1961. You are advised to consult your tax advisor for details.
Please note that tax laws may change from time to time. For more information on
tax benefits and terms & conditions, please refer to the product brochure.
Wealthsurance Growth 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 life 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.
IN THIS POLICY, THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.
The Linked Insurance Products do not offer any liquidity during the first five years
of the contract. The policyholder will not be able to surrender / withdraw the monies
invested in linked Insurance products completely or partially till the end of the
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. 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. 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 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
(UIN : 135L036V01) 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.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS.
IRDAI clarifies to public that:
- IRDAI or its officials do not involve in activities like sale
of any kind of insurance or financial products nor invest premiums.
- IRDAI does not announce any bonus. Public receiving such phone
calls are requested to lodge a police complaint along with details of phone call,