IDBI Federal Wealth Plans offers various Benefits for the Policyholders. There are various Wealth Insurance policies provided by the IDBI Federal such as Growth Insurance Plan SP, Suvidha Growth Insurance Plan, Future Star Insurance Plan, Growth Insurance Plan. The individuals who are dreaming their Bright Future can buy these Wealth Plans to lead their Golden life without any Financial Crisis. Therefore, all persons who want to buy IDBI Federal Wealth Plans can check the complete review, Key Features, Benefits.
IDBI Federal Wealth Plans Review
Nowadays, there is no guaranty to the life of the Person. Everything can happen at any time and sometimes it may lead to some severe crisis such as Sudden Death of a Person or Sudden Accidents. Then, in that case, the whole family of the individual suffers a lot. Hence, to overcome all these problems, the IDBI Federal Company is offering some Wealth Plans.
Are you worrying about your future? Then immediately adopt the IDBI Federal Wealth Plans to pay way a great path for your Bright Future. These Wealth plans are the Globally Accepted Fundamentals that provides a solid foundation for the rest of the life. Through the IDBI Federal Wealth Plans, the Policyholder can save their Earned Income. So that the Assured can lead his life with a peace of mind without any Disturbances.
Wealth Insurance Plans for IDBI Federal
IDBI Federal Life Insurance is one of India’s Largest life insurance companies which offers a various range of wealth Insurance Plans to the Policyholders. It is a joint venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe. The IDBI Federal Life Insurance offers four types of Wealth Insurance Plans for all Life Assured. The Wealth Insurance Plans provides Benefits which helps the Insured to secure their Future. Hence, the Four types of IDBI Federal Wealth Plans are listed below with the Futures and the Benefits.
- Growth Insurance Plan SP
- Suvidha Growth Insurance Plan
- Future Star Insurance Plan
- Growth Insurance Plan
IDBI Growth Insurance Plan SP
The IDBI Federal Wealthsurance SP is a single premium Insurance plan. It is a one-time investment plan, where the Policyholder pays the premium only once and allows the investment to enjoy returns of the selected funds. Wealth Insurance Plan also offers financial Support to the Policyholder Family / Nominee in the case of any crisis. In real, it is a small investment plan that helps the Insured to optimise their Annuity Sum. Therefore, everyone who wants to build a strong basis can buy the Growth Insurance Plan SP.
Key Features of the Growth Insurance Plan SP
- Firstly, Growth Insurance Plan SP Offers One-time premium payment.
- Provides Choice of 9 funds and the freedom to switch among the funds.
- Guaranteed Loyalty Additions to maximise the Investment.
- Easy access to investment through partial withdrawal.
- Finally, Insurance SP provides entire life coverage to the Policyholder by giving Financial Support.
Benefits:
The IDBI Wealthsurance SP offers various advantages for all Life Assured such as Death Benefits, Maturity Benefits, Settlement Options.
Death Benefits:
The Death benefit applies to the Policyholder/ Nominee in the event of the death of the Insured due to any cause, natural or accidental. Death benefit paid is the higher of the following amounts
- Sum assured.
- Fund value in your investment account.
- 105% of the total premiums paid till that date.
Maturity Benefits:
- If the Life Assured survives until the end of the policy term, the Annuity Amount under the base plan will be refundable to the Policyholder.
Settlement Option:
- The Policyholder can withdraw the Annuity Investment only after a particular period. The withdrawal option is valid only within the five years from the commencement of maturity date.
Eligibility Conditions:
| Parameter | Min | Max |
| Sum Assured (in Rs.) | Below 45 yrs- 1.5 times single Premium.
Above 45 yrs- 1.10 times single Premium. |
Upto 48 yrs- 1.10 times Single Premium.
|
| Policy Term (in years) | 5/10/15/20/25 depends on the min or max maturity age. | |
| Premium Payment Term | Single premium | |
| Entry Age of Policyholder | 1 month. | 70 years |
| Age at Maturity | 18 years | 75 years |
| Premium (in Rs.) | Rs.25,000/- | No Limit |
Wealth Insurance Plan SP Broucher
IDBI Suvidha Growth Insurance Plan
Key Features of the Suvidha Growth Insurance Plan
- Systematic Allocator to help the Life Assured to build Wealth with ease.
- Options to choose how long the Insured want to stay Invested.
- Suvidha Insurance plans Guaranteed Loyalty Additions to build wealth.
- Provides Financial protection against Uncertainty.
- Offers Financial withdrawals for Emergency Fund Requirements.
- Flexibility to switch the Funds.
- Surrender option is also provided.
Benefits:
The IDBI Federal Suvidha Growth Insurance Plan offers various Benefits for all Life Assured such as Death Benefits, Maturity Benefits, and Guaranteed Loyalty Additions.
Death Benefits:
The Death benefit applies to the Policyholder/ Nominee in the event of the death of the Insured due to any cause, natural or accidental. Death benefit paid is the higher of the following amounts.
- Sum assured.
- Fund value in your investment account.
- 105% of the total premiums paid till that date.
Maturity Benefits:
If the Life Assured survives until the end of the policy term, the Annuity Amount under the base plan will be refundable to the Policyholder.
Guaranteed Loyalty Additions:
Through the Guaranteed Loyalty Additions, the policyholder can get some additional Amount on the basic investment at the end of the 10th Policy year. In a similar manner, the Additional Increment will continue after that by every five years.
IDBI Federal Eligibility Conditions:
| Parameter | Min | Max |
| Sum Assured (in Rs.) | Fixed | 10 times Annual Premium . |
| Policy Term (in years) | 10/15/20 years | |
| Premium Payment Term | 10 years | |
| Entry Age of Policyholder | 1 month | 65 years |
| Age at Maturity | 18 years | 75 years |
| Premium (in Rs.) | Rs.15,000/- Per Annum | Rs.25,000/- per Annum |
Suvidha Growth Insurance Plan Broucher
IDBI Federal Future Star Insurance Plan
Every parent motive is to secure the Future of their Child and to provide a Bright Future. So that the child can actively take part in their Educational and Co-curricular Activities. Are you are worrying about your children’s Career, then immediately buy this Future Star Insurance Plan. It ultimately pays way a Strong Foundation to secure the life without any Financial losses. Therefore, the Child will glow like a star.
Key features of Future Star Insurance Plan
- IDBI Federal Future Star Insurance Plan offers entire life cover with triple benefits.
- In addition, Wealth care switcher benefit is also offered.
- Future star insurance plan provides the education support benefit.
- Guaranteed loyalty additions to boost savings.
- Finally, Tax benefits are also offered.
Benefits
Partial Withdrawal:
The Policyholder can Use Partial Withdrawal benefit after five years of Period in the case of emergency situations. In that case, the following conditions apply:
- The total partial withdrawals in a policy year cannot exceed 20% of the fund value at the beginning of policy year.
- The minimum amount of partial withdrawal is 10,000, but the fund value after the partial withdrawal should not be less than one annual premium.
Guaranteed Loyalty Additions:
Guaranteed Loyalty Addition is one of the benefits of buying the Future Star Insurance Plan. Therefore, the Policyholder can get some additional Amount on the Basic investment at the end of the 10th Policy year. In a similar manner, the Additional Increment will continue after that by every five years.
Eligibility Conditions:
| Parameter | Min | Max |
| Sum Assured (in Rs.) | Below 45 yrs- 10 times Annual premium | Above 45 yrs- 7 times Annual premium |
| Policy Term (in years) | 10 years | 25 years |
| Premium Payment Term | 5 years | upto policy term |
| Entry Age of Policyholder | 18 years | 54 years |
| Age at Maturity | 28 years | 64 years |
| Premium (in Rs.) | Rs.25,000/ Annually | Rs.95,000/ Annually |
Future Star Insurance Plan Broucher
IDBI Growth Insurance Plan
IDBI Federal Growth Insurance Plan is a single premium and unit linked plan. On buying this plan, the policyholder can build his own Strong Foundation for the Life. The Assured will be free from Financial Imbalance and can secure their Future.
Key features of Growth Insurance Plan
- At First, the Life Insured can select how much he want to invest.
- The policyholder can manage the investments as per risk appetite.
- Otherwise, Guaranteed Loyalty Benefits are added to boost your investments.
- Provides Life Cover benefit to financially secure the Future.
- In addition, Tax Benefit is also provided.
Benefits
The Death benefit applies to the Policyholder/ Nominee in the event of the death of the Insured due to any cause, natural or accidental. Therefore, the Death benefit paid is the higher of the following amounts
- Sum assured
- Fund value in your investment account
- 105% of the total premiums paid till that date.
Maturity Benefits:
- If the Life Assured survives until the end of the policy term, the Annuity Amount under the base plan will be refundable to the Policyholder.
Tax Benefits:
The tax benefit is also provided.
Eligibility Conditions
| Parameter | Min | Max |
| Sum Assured (in Rs.) | Below 45 yrs- 10 times Annual premium
Above 45 yrs- 7 times Annual premium |
Below 54 years- 15 times Annual premium
Above 54 years- 7 times Annual premium |
| Policy Term (in years) | 10 years | 30 years |
| Premium Payment Term | 5 years | upto policy term |
| Entry Age of Policyholder | 1 month | 64 years |
| Age at Maturity | 18 years | 74 years |
| Premium (in Rs.) | Rs.25,000/ Annually | Rs.95,000/ Annually |
IDBI Federal Wealth Plans Premium Calculator
You can calculate the Premium to be afforded to buy the Policy by Using the IDBI Federal Wealth Plan Premium Calculator. The Premium Amount to be paid will always depend on the Sum Assured, Policy Terms and conditions, Premium Payment Options and Policyholder Age. In order to calculate the Premium Value, you need to enter Some Basic personal details such as Name of the Insured, E-mail Id, Mobile Number, Age, Policy Term, and Minimum Sum Assured.
IDBI Federal Wealth Plans Buying Process
IDBI Federal Wealth Plans are available at the Nearest Metlife Insurance Branch Office. The Proposal Forms are also available at the IDBI Federal Official website. Also, the individuals can directly download them from the homepage. Some IDBI Federal Wealth Plans can also be bought through online. Hence, the certificates required for buying IDBI Federal Wealth Plans are listed below.
- Application forms with the photo id.
- Address Proof for communication.
- Age Proof.
- Medical Reports (if necessary).
IDBI Federal Wealth Plans Claim Process
The Policyholder / Nominee can apply for the Claim in the case of Sudden Death or Disability Occurred due to the Sudden Accident of the Policyholder within the Policy Term or if your Policy Maturity Period completed. The respective individual can apply for Claim process through online at the IDBI Federal official website, i.e., www.idbifederal.com or through the alternative modes such as at Branch Office, Helpline Number, Mail Id services. The Documents required in IDBI Federal Claim Process are:
- Firstly, the Policyholder needs Original Policy Document.
- Death Certificate Original from Municipal / Local Authorities.
- Claimant’s Statement and Claim Forms.
- Hospital Records including Discharge Summary.
- NEFT Form.
- Date of Birth Proof.
- Address Proof of Nominee.
- A copy of Pass Book.
- Additional documents, in the case of death, occurred due to unnatural or accidental death.
Additional Details about IDBI Federal Wealth Plans
Surrender Value:
The Policyholder can Surrender his IDBI Federal Wealth Plan before the Maturity within three years of the policy period. Otherwise, the Insured have to wait for five years.
Free Look Period:
If the Policy Holder does not satisfied with the Terms and Conditions of the Policy, then the Policyholder can raise the objections about the IDBI Federal Wealth Plan within 15 Days from the date of receipt of the Policy Document.
Grace Period: 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. Grace Period is a Term when you can Pay the Due Premiums to Continue your Policy.