Section 80C of the Income Tax Act, 1961, for contributions (premiums) made towards the scheme. Using this application our customers can get their policy related information on their fingertips. Policyholder can revive the policy within two years of the first unpaid premium if he/she pays the outstanding premiums and the interest accrued, all the benefits of the policy will be applicable. IDBI Federal Life Insurance Co Ltd. is a three way joint-venture of IDBI Bank, an Indian development and commercial bank; Federal Bank, one of India’s leading [peacock term] private sector banks and Ageas, a multinational insurance giant based out of Europe. The IDBI Federal Lifesurance Whole Life Savings Insurance Plan offers a lump sum payout at the end of the policy term and another payout when the policyholders attains the age of 100. Insurance is the subject matter of solicitation. Secure. 55 years (if maximum age without accidental death benefit cover is 75). IDBI Federal is one of the up and coming life insurance companies in the industry. Product information is authentic and solely based on the information received from the Insurer© Copyright 2008-2021 policybazaar.com. IDBI Bank completed sale transaction of its 23 per cent stake to Ageas Insurance International on December 31, 2020. Policyholders are granted a grace period of 30 days to pay the due premiums. IDBI Federal Life Insurance made history when they broke into making profits by the 5th year of being formed. No.103, Federal Towers, Aluva, Ernakulam, Kerala -683101. They can also make premium calculations. Visitor's information submitted on the website may be shared with the Insurers. 8,000,000,000. Policyholder can make nominations as per section 39 of the Insurance Act, 1938. Medical examination may be required in some cases, based on the sum assured and the age of the person. Disclaimer:"Visitors are hereby informed that A&A Dukaan Insurance Web Aggregator Private Limited (bankbazaarInsurance.com) has surrendered its Insurance Web Aggregator License and therefore insurance products are no longer available for comparison and/or purchase on this website. Its authorized share capital is Rs. IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a whole life plan covering the policyholder till 100 years thereby taking care of protection requirement throughout the life of the individual. In case of untimely death of the policyholder, the nominee is entitled to: At the point of maturity, the policyholder is entitled to the guaranteed sum assured in the form of a lump sum payout and in addition he/she will also receive the vested guaranteed addition (accrued in the first 5 years of the policy) and the vested reversionary bonuses (accrued from the 6th year of the policy). If policyholder fails to make payment within the grace period, the policy lapses, Policy Termination or Surrender Benefit: the policy can be surrendered anytime if 3 full years’ premium has been paid. Having branches spread across the country, IDBI Federal has a top-notch customer service that keeps the satisfaction of each and every of their customers as their top priority. 5) Top 10 Trusted Life Insurance … Once the surrender value is paid to the policyholder, the policy is terminated. The information on this website is derived from publicly available sources and BankBazaarInsurance cannot verify or confirm the genuineness, truth, veracity or authenticity of this information. LIC-controlled IDBI Bank on Thursday said it has sold 23 per cent stake in life insurance venture to foreign partner Ageas for Rs 507 crore. IDBI federal Lifesurance Whole Life Savings Insurance Plan – A traditional whole of life plan which covers the individual till 100 years of age and also provides saving facilities. New Delhi: LIC-controlled IDBI Bank on Thursday said it has sold 23 per cent stake in life insurance venture to foreign partner Ageas for Rs 507 crore. Your money is Safe. The IDBI Federal Lifesurance Whole Life Insurance Plan offers discount for premiums for women customers. If policyholder surrenders the policy after the completion of three policy terms, the policyholder is entitled to the guaranteed surrender value and the special surrender value. The content on this website is meant only for general information purpose and does not and shall not be construed as any solicitation, procurement, display, aggregation, marketing or advertisement of insurance products. 2) IDBI Federal Honored with a ‘Special Recognition – Sports Development Initiatives for Youth’ under the Social Development category. The nominee will receive all the benefits following the untimely death of the policyholder. © Copyright 2020 bankbazaarinsurance.com. The product information for comparison displayed on this website is of the insurers with whom our company has an agreement. Approval for registration as an Insurance Broker is pending with the IRDAI. The features and benefits of the plan are as follows: Premiums under the plan are payable for a limited tenure only Enjoy Guaranteed Returns along with Tax benefit ***, IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a whole life plan covering the policyholder till 100 years thereby taking care of protection requirement throughout the life of the individual, Annual premium in Rupees and benefit illustration, Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days for annual and half-yearly mode. Premium: For monthly premium payment mode, the premiums amount to Rs.12,000 per annum and for all other modes (annually, half-yearly or quarterly), the premium amounts to Rs.10,000 per year. Idbi Federal Life Insurance Company Limited is a Public incorporated on 22 January 2007. Request received - loud & clear!Returning you to where you were... Keeping in mind the need to save for the future or have a backup in case of an eventuality (death or disability), IDBI Federal Life Insurance has launched the IDBI Federal Lifesurance Whole Life Savings Insurance Plan. Guaranteed additions and bonuses enhance the corpus while you get another benefit on plan maturity. IDBI Federal Life Insurance Updated on November 27, 2020 , 1621 views. They can avail benefits under: IDBI Federal Lifesurance Whole Life Savings Insurance Plan has a number of benefits, some of which are mentioned below: IDBI Federal Life Insurance was formed in 2008 following a three-way joint venture between IDBI Bank, Federal Bank and multinational insurance company Ageas. IDBI Bank has completed stake sale of 23% of joint venture IDBI Federal Life Insurance Company to Ageas Insurance International NV. The corporate agent does not underwrite the risk or act as an insurer. IDBI Federal Life Insurance company is one of the fastest growing life insurance companies of India. Maximum: No limit. Insurance is the … IRDAI/WBA21/15 Valid till 13/07/2021. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV), GSV = % of Premiums + % of vested bonuses till PPT and after PPT. 135, 19th Dec, 07. IFL 1533051) and Registered office at P.B. Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. Sum Assured:The sum assured depends on the entry age of the policyholder and the policy term. IDBI federal Lifesurance Whole Life Savings Insurance Plan is a participating savings plan which runs till you attain 100 years of age. Corporate Identity Number (CIN) – U66010MH2007PLC167164. Customers can also pay online using their credit cards, debit cards, e-wallets, etc. Policyholders are granted a free-look period of 15 days from the commencement of the policy. Corporate Identity Number (CIN) – U66010MH2007PLC167164. Click on the IDBI Broucher link and download it to get the clear idea about the each plan offered by the IDBI federal life Insurance Company. IDBI Bank on Thursday said that it has completed sale transaction of its 23% stake in IDBI Federal Life Insurance Company Limited (IFLI) to Ageas Insurance International JV for a … The key features of the IDBI Federal Lifesurance Whole Life Savings Insurance Plan are listed below. Product information is solely based on the information received from the Insurers. Once the policy attains the surrender value, policyholder can take a loan amount against the policy up to 85% of the surrender value. The IDBI Federal Lifesurance Whole Life Savings Insurance Plan offers a lump sum payout at the end of the policy term and another payout when the policyholders attains the age of 100. IDBI Bank share rose 4% in trade today after the lender completed stake sale of 23% in joint venture IDBI Federal Life Insurance Company to Ageas Insurance International NV. 24,999,999,500 and its paid up capital is Rs. All benefits are applicable during the grace period. Registered Address: IDBI Federal Life Insurance Co Ltd, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East),Mumbai 400013, India. With this transaction, the stake of the Belgian partner in IDBI Federal Life Insurance Co Ltd (IFLI) has risen to 49 per cent, the upper foreign direct investment limit prescribed by the law. 1,50,000 deduction under section 80C**, Convenient payment options - annual, half-yearly, quarterly or monthly premium payments, Do more with plans that offer pure protection, retirement planning and investment options, Minimum: 18 years If you want to choose a unit-linked insurance plan that can give you both life cover as well as wealth over the long term, Wealth Gain Insurance Plan from IDBI Federal Life Insurance can be suitable for you. This application is developed to service needs of our esteemed customers. Limited premiums are payable under the plan after which the plan pays you a lump sum benefit. 3) IDBI Federal Conferred with the ‘Best Life Insurance Company – Work Culture’ award 4) Service Provider of the Year 2019. This plan also comes with additional bonuses and coverage in case of accidental death or disability. Any information displayed here is only for informational purposes and bankbazaarInsurance.com does not endorse the same. With this transaction, the stake of the Belgian partner in IDBI Federal Life Insurance Co Ltd (IFLI) has risen to 49 per cent, the upper foreign direct investment limit prescribed by the law. In case of the Accidental rider, benefit is not payable for death from accidents which are self-inflicted or due to civil commotions, riots, war, participation in hazardous sport activities, criminal activities, aviation, etc. If death from suicide occurs within one year of revival, the nominee is entitled to 80% of the premiums paid till date or the surrender value at that point, whichever is higher. IRDAI Registration No. IDBI Bank is likely to sell 23 per cent stakes in IDBI Federal Life Insurance Co to Belgian multinational insurer Ageas Insurance International. All Rights Reserved.. As per section 38 of the Insurance Act, 1938, policyholder can assign the policy. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products. IDBI Federal Life Insurance is a joint venture between IDBI Bank, Federal Bank and Ageas, a multinational insurance giant based in Europe. 06 Registration Code No. Annually, half-yearly, quarterly, monthly. Minimum: Rs.10,000 per year for annual, half-yearly, quarterly modes *The information provided on this website/page is only for information sake. The company offers a diverse range of life insurance policies to meet the coverage requirements of its customers. Policyholders are granted the guaranteed sum assured, 10 times the annualised premium or 105% of the premiums paid till date, the vested reversionary bonuses (accumulated from the end of the policy), and the terminal bonus (if applicable). The IDBI Federal Lifesurance Whole Life Savings Insurance Plan is a non-linked participating whole life savings plan. Policyholders can also choose the payout modes - annually, half-yearly, quarterly and monthly. Policyholders can choose the premium or contribution towards the. The company earlier operated under the name of IDBI Fortis Life Insurance Company and later in 2010 when Fortis changed its name to Aeges, the name of the company was changed too. Registered Address: IDBI Federal Life Insurance Co Ltd, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East),Mumbai 400013, India. IDBI Bank Limited 12/31/2020 | Press release | Distributed by Public on 01/01/2021 06:13 Stake Sale by IDBI Bank in IDBI Federal Life Insurance Company Limited to Ageas and Federal Bank Check out IDBI Federal Lifesurance Whole Life Saving Insurance Plan online. Since then, they have recorded annual profits of Rs.80 crore. Key Features . IDBI Bank has completed the sale of its 23% stake to Ageas on the last date of 2020 for Rs 507 crore. Maximum: 53 years (if maximum age with accidental death benefit cover is 65) No. BankBazaarInsurance is not an insurance intermediary and hence does not endorse or solicit any such products. Find Eligibility Features Benefits Documents Required How Plans Work Reviews & Premium Calculation. To be eligible for the benefit, death should occur within 180 days from the occurrence of the accident. The bank's shareholding in the insurance joint venture now stands at 25% from 48%. Policyholder enrolled with the IDBI Federal Lifesurance Whole Life Savings are liable to tax benefits under the Income Tax Act of 1961. We Would love to interact with you, IDBI Federal Lifesurance Whole Life Savings Insurance Plan, idbi-federal-lifesurance-whole-life-savings-insurance-plan:traditional plan, This plan is a participating traditional Whole life plan with limited premium payment term, The individual is covered up to age 100  years, Lump sum amount paid at the end of PPT and another at policy anniversary after the policyholder reaches 100 years of age, Guaranteed Additions  and Non-Guaranteed reversionary bonuses grow the corpus, The Guaranteed Additions are paid for the first 5 policy years @ 5% of the Sum Assured, On survival till the end of PPT, the Sum Assured + vested Guaranteed Additions + accrued Reversionary bonuses is paid, On death the Sum Assured on death +vested Guaranteed Additions + Accrued bonuses + terminal bonus, if any, is paid to the nominee, On the policy anniversary after reaching 100 years, (higher of the guaranteed SA or 10 times the annual premium or 105% of premiums paid) +vested bonuses from the end of PPT till 100 years + terminal bonus, if any is paid, Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively, The policy provides loan facility of up to 85% of the Surrender value with a minimum amount of Rs.5000, There is the option of availing Accidental Death Benefit Rider, High Sum Assured discounts for higher coverages, In case of suicide within 12 months from inception, 80% of total premiums paid is returned and within 12 months of revival, higher of 80% of total premiums paid or acquired Surrender Value is paid to the nominee. **Discount is offered by the Insurance company as approved by IRDAI for the product under File & Use guidelines #On the basis of your profile, CIN: U74999HR2014PTC053454 Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited) Policybazaar is currently registered as a Web aggregator by IRDAI. IDBI Federal Life Insurance Wealth Gain Insurance Plan. IDBI Federal Life Insurance is one of the fastest growing Insurance companies in India. BBazaar Marketing and Advisory Services Private Limited, Registered Office - Module No 601, 6th Floor, TICEL Bio Park Phase-II, No 5, CSIR Road, Taramani, Chennai, Tamil Nadu, India - 600113. Official Mobile Application from “IDBI Federal Life Insurance Company Limited”. Federal Bank is a Corporate Agent of IDBI Federal Life insurance Company Limited having its registration number (Regn. Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001, IRDAI Web aggregator Registration No. The IDBI Federal Life Insurance Company has been renamed as Ageas Federal Life Insurance Company after Belgian multinational insurer Ageas Insurance International (Ageas) bought 23 percent holding representing 18,40,00,000 share for a consideration of Rs 507.10 crore. Rs.12,000 per year for monthly mode “IDBI Federal Lifesurance Whole Life Savings Insurance Plan “is a non-linked participating whole life savings plan, which gives 2 Lump Sum Payout, first at the end of your premium payment term and second when you reach 100 years of your age. Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Life Insurance - Online Insurance Quotes In at the very least one case, an insurance provider which marketed a plan to a purchaser without any insurable interest (who later killed the CQV for the proceeds), was found responsible in court for adding to the wrongful fatality of the sufferer (Liberty National Life v. Under the transaction, IDBI … With this plan, the policyholder may enjoy life with two lump sum payouts. As one of India's growing life insurance companies, IDBI Federal Life Insurance offers a diverse range of wealth management, protection and retirement solutions to individual and corporate customers. It is classified as Non-govt company and is registered at Registrar of Companies, Mumbai. The company is a joint venture of IDBI, India’s premier development and commercial bank and Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance … Section 10 (10D) of the Income Tax Act, 1961, for proceeds from maturity and death benefits. 135, 19th Dec, 07. To be eligible for the IDBI Federal Lifesurance Whole Life Savings Insurance Plan, customers need to meet certain criteria. The nominee is entitled to an additional sum equal to the guaranteed sum assured if the policyholder opts for the accidental death benefit. This plan is a participating traditional Whole life … We thank you for being a valued customer", IDBI Federal Lifesurance Whole Life Savings Insurance Plan, Reduce taxable income by up to Rs. Policyholders are granted a discount in premiums if the sum assured is north of Rs.10 lakh. This plan also comes with additional bonuses and coverage in case of accidental death or disability. If he/she disagrees with any of the terms and conditions of the policy, they can return the policy. Guaranteed **, *Please note that the quotes shown will be from, Written By: PolicyBazaar - Updated: 16 March 2016, Follow, like, tweet or post. Policyholders and nominee (if the policyholder is not alive) are granted an additional lump sum payout when the policyholder attains the age of 100. When it comes to investment-oriented plans, the company offers different types of policies including savings plans, ULIPs, child plans, retirement plans, etc. If the policyholder has held the policy for three consecutive yet has failed to pay the premiums, the policy will automatically be converted to the reduced paid-up benefit structure. All rights reserved. IRDAI Registration No. One of the premier life insurance companies in the country, IDBI Federal Life Insurance offers a range of products suited for customers’ various needs and requirements. It offers a wide variety of life cover, retirement options, and capital management solutions to both individuals and corporate clients. We are showing some of the features of this plan below. In the case of suicide, whether sane or insane, the nominee is entitled to 80% of the benefits paid till that point. Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Insurance is the … On the IDBI Federal Life Insurance website, customers can avail insurance products of their choice, track their applications, calculate the premiums, make claims, take advice, and check the performance of their investments. Kolkata: IDBI Federal Life Insurance Company has now been rebranded as Ageas Federal Life Insurance Company with Ageas Insurance International raising its stake to 49% in it from 26%. Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. … The company has over 2000 branches spread across the country and has issued over 7 lakh policies … Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices. Number ( Regn attain 100 years of age premiums if the sum assured and the policy term it is as. Our company has an agreement the information received from the commencement of the and... Initiatives for Youth ’ under the transaction, IDBI … IDBI Federal Life Insurance Wealth Gain Insurance plan listed. Here is only for informational purposes and bankbazaarInsurance.com does not underwrite the risk or Act as insurer... 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