Page 44 - Insurance Times March 2016 Sample
P. 44
Life Insurance Plan
Whole Life Savings
Insurance Plan
from IDBI Federal Life Insurance Co Ltd
IDBI Federal Lifesurance Whole Life death benefit. This includes, death sum assured, vested guaranteed additions,
Savings Insurance Plan is a non-linked accrued bonuses, if any.
participating whole life savings plan. A
plan that give 2 lump sum payouts; Also, in case of unfortunate death due to an accident during PPT and if
first at the end of the premium pay- 'Accidental Death Benefit (ADB)' has been opted for, the family gets an addi-
ment term and second when one tional amount equal to the guaranteed sum assured. This is in addition to the
reaches 100 years of age. Plus, it keeps death benefit payable. The ADB is subject to a maximum limit of Rs 50 lac on
the family financially secured through- a single life across all policies issued by IDBI Federal.
out the period of 100 years.
However, in case something happens after the end of PPT and before reaching
Why Lifesurance Whole 100 years of age, the family gets a death benefit.
Life Savings Insurance
Plan? Also, if you live till 100 years of your age, you get another payout.
Life cover up to 100 years of age Eligibility:
Lump sum payout at the end of Criteria Minimum Maximum
Premium Payment Term (PPT)
Age at entry 18 years o 55 years (Subject to a maximum age
Additional lump sum payout when
you reach 100 years of age at the end of PPT being 75 years for
Guaranteed additions and bonuses cover without Accidental Death Benefit)
to boost savings
o 53 years (Subject to a maximum age
Option of Accidental Death Ben-
efit during PPT at the end of PPT being 65 years for
How does Lifesurance cover with Accidental Death benefit)
Whole Life Insurance Plan
work? Age at maturity 100 years
One has to pay premiums regularly for Premium 12 years 30 years
the chosen PPT.
payment term
On survival till the end of the PPT, the
person gets a lump sum amount which Premium pay- Yearly, Half-Yearly, Quarterly, Monthly
includes, guaranteed sum assured,
vested guaranteed additions, accrued ment frequency
bonuses, if any.
Modal frequency 0.51 for half yearly, 0.26 for quarterly and 0.09 for monthly
However, in case something happens
during the PPT, the family gets the factor mode
Premium Rs. 10,000 per No limit subject to underwriting
(exclusive of annum for all approval
service tax and modes except
education cess) for monthly
Rs 12,000 per mode
annum for
monthly mode
Guaranteed Sum Depending on No limit subject to underwriting
Assured age at entry approval
and premium
payment term
All ages are as per last birthday
44 The Insurance Times, March 2016
