This is what we offer with the plan

  • Benefits

    Death benefit

    In case of death of an insured member, credit account statement from the lender (Master policyholder) is sought. In case there is any outstanding loan balance, the death benefit will be paid to the lender to the extent of outstanding loan balance. Balance claim amount (if any) is payable to the beneficiary.

  • Benefits

    Maturity benefit

    There is no maturity benefit for either the reducing cover option or level cover option under this plan.

  • Benefits

    Surrender

    When the Master Policyholder surrenders the Master Policy, an option to continue in the cover will be given to the Insured Member. If the Insured Member opts to withdraw from the policy, then surrender value for the Insured Member will be paid and the life cover ceases immediately.

  • Benefits

    Tax benefits

    The policy offers tax benefits as applicable under section 80 C and 10(10D) as per provisions of the Income Tax Act, 1961. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.

Sample Policy DocumentDownload

Know the eligibility for this plan

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(Min)50 lives |(Max)No limit
(Min)For education loan: 15 years (last birthday)For other loans: 18 years (last birthday)|(Max)65 years (last birthday) Cover upto(Min)-(Max)75 years (last birthday) Policy Term(Min)2 years-(Max)30 years (including moratorium period, if any)

IDBI Federal Loansurance Group Insurance Plan SP (UIN: 135N041V01) is a non-linked non-participating group insurance plan

eligibility
I am years old
I would like a return of Lakhs
At the end of years

You are eligible.

You are not eligible.

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