IDBI Federal Life Insurance
Incomesurance Guaranteed Money Back Insurance Plan
This is what we offer with the plan
Receive Guaranteed Annual Payouts
You will get Guaranteed Annual Payouts at the end of each year from the 6th to the 10th policy year. These payouts are a defined percentage of your annual premium* depending on your age at entry.
Pay premium only for a limited period
You pay premiums only for the first 5 years of the policy.
Flexibility to choose premium amount as per your needs
You can decide the premium amount based on how much money you want as Guaranteed Annual Payouts from the 6th to 10th year of the policy.
Financial protection against uncertainty
Your family will get 10 times the annual premium as death benefit regardless of any payouts received by you in the past.
Get tax benefits
You get tax benefit of Section 80(C) of the Income Tax Act, 1961 on premiums paid towards the plan. The payouts you receive are also tax free under Section 10(10D) of the Income Tax Act, 1961.
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Survival benefit
Get regular annual returns from the end of the 6th policy year up to the 10th policy year.
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Death benefit
In the unfortunate scenario of death of the life insured at any time during the policy term, the beneficiary would receive death sum assured, which would be the highest of Guaranteed Sum Assured on maturity (Maturity Sum Assured)*, 10 times of annualised premium (excluding service tax, education cess and extra underwriting premiums), 105% of all premiums paid.
In the unfortunate scenario of death of the life insured at any time during the policy term, the beneficiary would receive death sum assured, which would be the highest of Guaranteed Sum Assured on maturity (Maturity Sum Assured)*, 10 times of annualised premium (excluding service tax, education cess and extra underwriting premiums), 105% of all premiums paid.
*There is no Guaranteed Sum Assured payable on maturity. The last Guaranteed Annual Payout will be made on survival to maturity.
*There is no Guaranteed Sum Assured payable on maturity. The last Guaranteed Annual Payout will be made on survival to maturity.
