Money Back Plans assured the financial Support to you & your family. The IDBI Federal Guaranteed Money Back Plans are one of Best Money Back Plans. The Money Back Policyholders are increased day by day in India due the Guaranteed regular money back to the customer in policy term in addition to a lump sum. So the Policyholder can make the perfect financial strategy & plan the education of their children with these regular cash backs. Let’s go through the IDBI Federal Incomesurance & Money Back Plans features, benefits, Buying Process, Calming & other required details.
IDBI Federal Guaranteed Money Back Plans
The IDBI Offers the attractive key features & benefits to their customer with Icomesurance & Money Back plans. The policyholder may receive a percentage of sum assured regularly in this policy term. So these Money backs are useful for life assured short term goals like children education, Holiday Trip &, etc. A life assured can achieve the short-term, as well as long term goals with the help of IDBI Guaranteed money back, plans in addition to insurance coverage.
Why have We to choose IDBI Federal Guaranteed Money Back Plan?
The IDBI is the most popular insurance company in the India. It created a New era in Life insurance filed. It is controlled by Insurance Regulatory & Development Authority. As the name itself, The IDBI & Federal Banks are partners in this IDBI Federal Insurance Company. So It is trusted Life insurance company. It Offers various excellent benefits to the Policyholders. The IDBI Federal Guaranteed Money back plan to provide financial security & safety to you & your loved ones. You can save the money as well as get insurance at a time by taking the IDBI Federal incomessurance & Money Back Policies. It is very easy to buy a new IDBI Federal Guaranteed money Back plans online.
IDBI Federal Incomesurance & Money Back Plans Review & Details
The IDBI offers two guaranteed money back plans. These Two IDBI Federal Guaranteed Money Back Plans have different attractive & useful benefits and features. Both are the Best Money Back Plans. So compare, both of the IDBI Federal Guaranteed Money Back plans & choose one of them according to your needs.
List of IDBI Federal Guaranteed Money Back Plans
- Incomesurance Guaranteed Money Back Plan
- Incomesurance Guaranteed Money Back Insurance Plan 7 Pay
IDBI Federal Incomesurance guaranteed Money back Plan
The IDBI Federal Incomesurance Guaranteed Money Back Plan offers frequent payouts to the life assured with insurance coverage. The UIN number is 135N031Vo1. This is a short term policy. A life assured have to pay for 5 years only. The Guaranteed Annual Money Back will be payable to the policyholder from the 6th year to till the end of policy term. This plan is having a major benefit of Loan Facility in addition to death & tax benefits.
Benefits of IDBI Federal incomesurance guaranteed Money back Plan
- Death benefit
- Tax benefit
- Maturity Benefit
- Guaranteed Annual Payouts
- Loan facility
The Sum Assured + Guaranteed Additions would be payable to the beneficiary when the sudden death of life Assured.
The Maturity Benefit will be paid at the end of policy term On survival of the Life Assured.
The policyholder is eligible for tax benefit while paying the premium under the 80 (C) income Tax act. The Payouts that received by you also expecting from the tax under the income tax act 10 10(D).
Guaranteed Annual Payouts
The payouts are the Fixed percentage of the sum assurance. The life assured will get the regular payouts at the ending of 6th, 7th, 8th, 9th & 10th years. The Fixed Percentage is decided as per policyholder age at entry level.
85% of Guaranteed Surrender Value is given as loan amount to the life assured. The minimum loan amount is Rs. 5000/-.
IDBI Federal Incomesurance guaranteed Money back Plan Eligibility
|Entry Age|| Min: 18 years
Max: 55 years
|Maximum Age at Maturity||65 years|
|Sum Assured|| Highest of following:
|Premium Payment Term||5 years|
|Policy term||10 years|
|Survival benefit||Guaranteed annual money backs will be given every year from 6th year to end of policy term|
Features of IDBI Federal Guaranteed Money Back Plans
- Create the funds to your loved ones
- Guaranteed Money Returns
Paid Up value:
IDBI Federal Incomesurance guaranteed Money back Plan 7 Pay
The IDBI Federal Guaranteed Money back plans are two types. The first one has already discussed above. Now let’s talk about 2nd plan which is called as IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan 7 Pay. The UIN for this IDBI Federal Money back plan is 135N042V01. As the Name itself, The Life insured have to pay the policy premium for 7 years only, but policyholder got the live coverage for 14 years. The IDBI Federal Incomessurance Guaranteed money back plans 7 pay has attractive benefits & features. The major Benefit of IDBI Federal guaranteed money back plan is the Critical illness. A policy holder can get annual payouts from 8th years in this plan. The IDBI Federal
The IDBI Federal Incomessurance Guaranteed money back plan has attractive benefits & features. The major Benefit of IDBI Federal guaranteed money back plan is the Critical illness. A policy holder can get annual payouts from 8th years in this plan. The IDBI Federal incomesurance guaranteed Money back plan 7 pay annual payouts will help to fill your short-term goals. The Life Assured can get a maturity benefit on the surveil of Policy term. Check the these 2 policies benefits & features before going to choose the Best Money Back Plans in IDBI Federal. The IDBI Federal Guaranteed Money Back Plan offers the following benefits & features.
IDBI Federal incomessurance Guaranteed Money Back Plan 7 pay Benefits
- Death benefit
- Tax benefit
- Maturity Benefit
- Guaranteed Annual Payouts
- Critical Illness
Critical Illness: The IDBIfederal Incomesurance 7 pay plan offers Critical illness benefit. There are various Health uncertainties will be happened while the age is growing. Critical illness benefit provides a financial support against your health uncertainties. There is a serious health related conditions pre-defined list. The Policyholder will be getting A lump sum amount of the guaranteed annual payouts that proportionate to premiums paid by policyholder immediately for the purpose of treatment & other expenses. The Life coverage will be continued till the policy term.
Some of Health related issues that covered are as follows:
- Cancer Of Specified Severity
- Open Chest CABG (Coronary Artery Bypass Graft)
- First Heart Attack – Of Specified Severity
- Stroke Resulting In Permanent Symptoms
- Kidney Failure Requiring Regular Dialysis
- Major Organ /Bone Marrow Transplant
- Multiple Sclerosis With Persisting Symptoms
- Coma Of Specified Severity
- Permanent Paralysis Of Limbs
IDBI Federal Incomesurance guaranteed Money back 7 pay Eligibility
|Entry Age|| Minimum: 10 years
Maximum: 50 years
|Maximum Age at Maturity|| Minimum: 24 years
Maximum: 64 years
|Premium Payment Term||7 years|
|Policy term||14 years|
|Premium Payment Frequency||Annual|
Features of IDBI Federal Guaranteed Money Back 7 pay plan
- Guaranteed Money Returns.
- Critical Illness
- Guaranteed Surender value
- Loan Facility
IDBI Federal Guaranteed Money Back Plans Premium Calculator
The Minimum & maximum Premiums will be calculated by using IDBI Federal Guaranteed Money back Plan premium calculator. Not only premiums you can also calculate the maturity benefit also. First of all the premium amount will depend on the age of the life Assured, policy term, premium payment modes. The following Basic information required to calculate the Premium details.
- Your Name
- Mobile Number
- Mail Id
- Policy term.
- Age of the policyholder & other details
IDBIFederal Money Back Plans Buying Process
Anyone can buy the required IDBI Federal Money back plan by visiting the nearest IDBI Federal insurance company. You can also buy the money back plan at the Agent. It is very easy to buy the new IDBI Federal Guaranteed Money back plan through online. First of all, you have to download the Proposal form from the official website of IDBI Federal. Required documents to buy the IDBI Federal Money Back plan.
- Proposal form / Application form along with the photo.
- Address Proof.
- Age Proof.
- Medical Reports (if required).
IDBI Federal Guaranteed Money Back Plan Claiming process
The Nominee / Policyholder can Claim the Policy. The Life Assured/Nominee is eligible for claiming the policy after the policy term or occurred of Death or Disability Sudden Accident of the Insured within the Policy Term. You can apply for Claiming through online from the official website or through alternate channels such as at Branch Office, through Helpline Number, Mail Id. The Documents required for IDBI federal Insurance Claim Process are
- Death Certificate Original from Municipal / Local Authorities.
- Original Policy Document.
- Address Proof of Nominee.
- Hospital Records including Discharge Summary.
- Date of Birth Proof.
- Claimant’s Statement and Claim Forms.
- NEFT Form.
- A copy of Pass Book.
- And Additional documents, in the case of death, occurred due to unnatural or accidental death.
IDBI Federal Money Back Plans Additional information
Free Look (Cooling Off) Period:
This is a good opportunity to the policyholder to terminate from the policy If the you does not satisfied with the Terms and Conditions of the Policy. The Life Assured can return the IDBI Federal guaranteed money Back plan within 15 Days from the date of receipt of the Policy Document.
The Grace Period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for the Monthly Mode of Premium Payment. While Grace Period is a Term when you can Pay the Due Premiums to Continue your Policy.
Policy Revival: The IDBI Federal money back Plans can be Revived within Two years from the Date of First Unpaid Premium.
- If the Policyholder commits suicide at any time within one year, the Company will not pay any Death Benefits.
- If the Life Assured commits suicide at any time Within one year from the Date of Commencement of Risk on the Date of Revival of Policy, the Company will pay 80% of the Rider Premiums Paid.
Taxes: As per the Income Tax Laws, Benefits are available under Section 80C and Section 10(10D) of Income Tax Act for this IDBI Federal Guaranteed money back plans.
Assignment & transfer of the insurance policies will allow as per insurance act 38 as amended from time to time.
Service tax and stamp duty:
Service Tax & other levies are applicable.
The life assured can avail a loan after the policy acquires a surrender value only. The loan you can avail will be from a minimum of Rs.5,000 and limited to 85% of the guaranteed surrender value.
If you pay the premium duration first 2 years before the end of the grace period, your policy will lapse. Then, No benefits will be applicable.