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Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
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Claim up to Rs. 1,50,000 deduction under section 80C**
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Choose between annual and monthly premium payment options
IDBI Federal Life Insurance Company?is one of the up and coming life insurance companies in India. The company has a strong product line-up with various plans including term plans, endowment plans, child plans, ULIPs, retirement plans, group plans, etc. With this diverse range of products, the company serves to customers who have different preferences. The products offered by the company are developed in such a way that the dependents of the insured are protected from financial uncertainties. The company was established in the year 2007 and has witnessed decent growth over the last decade. Let’s take a detailed look at various aspects of the company and the different products in its line-up.
Highlights of IDBI Federal Life Insurance
Updated on 01 Oct 2023
| Percentage of Grievances Solved |
100% |
| Claim Settlement Ratio |
91.99% |
| Group Death Claims |
99.38% |
| Percentage of Claims Rejected |
0.62% |
| Solvency Ratio |
3.71 (for the quarter ended March 2018) |
IDBI Federal Life Insurance Plans:
IDBI Federal Life Insurance Company's product portfolio includes a broad variety of child plans, endowment plan, group plans, money back plans, wealth plans, and term plans. Depending on the specific needs of the customer, the following plans can be considered for various benefits and reasons. The plans that are being offered by?IDBI Federal Life Insurance Company?are categorized with their details in the following table:
| Child Plans |
Endowment Plans |
Group Plans |
Money Back Plans |
Wealth Plans |
Term Plans |
| Childsurance® Savings Protection Insurance Plan |
Lifesurance® Savings Insurance Plan |
Termsurance® Group Protection Insurance Plan |
IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan 6 pay |
IDBI Federal Life Insurance Guaranteed Wealth Plan |
IDBI Federal iSurance Flexi Term Insurance Plan |
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IDBI Federal Termsurance® Group Insurance Plan |
Incomesurance™ Guaranteed Money Back Insurance Plan |
IDBI Federal Wealthsurance® Future Star Insurance Plan |
IDBI Federal Isurance Online Term Insurance Plan |
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IDBI Federal Group Microsurance® Plan |
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IDBI Federal Wealthsurance® Growth Insurance Plan |
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IDBI Federal Termsurance® Sampoorn Suraksha Micro-insurance Plan |
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IDBI Federal Wealthsurance® Growth Insurance Plan Single Premium |
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IDBI Federal Wealth Gain Insurance Plan - A unit linked insurance plan |
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Why should you go for IDBI Federal Life Insurance?
IDBI Federal Life Insurance Company's offering includes a diverse range of?life insurance plans?that are designed to benefit the customers at different stages of life. Each of the plan offers unique benefits to fulfil the customer's insurance, protection, savings and wealth building needs. Both individuals, as well as, corporate customers can consider buying a life insurance policy from IDBI Federal Life Insurance Company for various types of benefits. Listed here are some of the reasons why you should opt for a life insurance policy from IDBI Federal:
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Multiple options - You can choose from a wide range of policies which are designed to fulfill various types of financial goals. Whether you are planning your retirement, child’s future or any other goal, you will find a suitable plan from IDBI Federal Life Insurance Company that will help you achieve your goal.
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Financial goals - The policies are suitable for all types of financial goals that the individuals and corporate customers come across at different stages of life. There are certain policies that will allow you choose from various benefit options to reach your financial goals faster.
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Flexibility - The policies allows you to choose policy term, premium, payment mode, and other factors. Based on your risk appetite, you can choose the investment fund option that will give you maximum earnings.
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Policy information - The policy information can be obtained online, from the branch, or by contacting the insurer through phone and e-mail. You can also download the policy brochure and refer to the sample policy document to obtain complete details of the policy.
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Fast claim settlement - The insurer has one of the best claim settlement ratios among emerging life insurance firms in the country. This is made possible by the excellent customer service team, investment in latest technology, robust operations, vast network, and other factors.
Different types of Plans Provided by IDBI Federal Life Insurance Company:
IDBI Federal Life Insurance Company offers 15 types of life insurance plans under the following six categories:
- Child plans
- Endowment plan
- Group plans
- Money back plans
- Wealth plans
- Term plans
The plans under each category are listed in the following table with their names and key features:
| Plan name |
Key features |
| Childsurance® Savings Protection Insurance Plan |
This plan is a non-linked participating endowment plan that protects your child’s future and ensures that he/she receives guaranteed annual payouts to achieve important milestones. In the unfortunate event of your death, all the future premiums will be waived off and the policy will continue as per what you had planned. The key features of this plan include:
- Guaranteed annual payouts - The plan allows you to get annual payouts on important milestones in the last 3 or last 5 years of the policy term based on your preference and the policy term itself.
- Boost savings with bonuses - The plan allows you to get a reversionary bonus right from the start of the 1st policy year. Moreover, if there are any interim and terminal bonuses, they will be paid out at the maturity.
- Lump sum benefit on unfortunate death - In the unfortunate event of your death during the policy term, your child will be provided with a lump sum amount as the death benefit immediately to meet his/her needs.
- Waiver of future premiums - At the time of policyholder's death, all the future premiums are waived off for the entire policy term provided the policy is in force. Your family will not be required to pay any further premium in order to receive any of the assured death benefits.
- Tax benefits - Childsurance® Savings Protection Insurance Plan offers tax benefits through Income Tax Act, 1961. The premiums paid under this policy are eligible for tax deductions under Section 80C. The maturity benefits are exempted from tax under section 10(10D).
- Flexibility - Depending on your requirements, you can choose the sum assured, policy term, payment mode, and premium payment term.
- Loan facility - Once the policy attains the surrender value, it will allow you to take a loan for emergency situations.
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| Plan name |
Key features |
| IDBI Federal Lifesurance® Savings Insurance Plan |
This plan is a fixed term non-linked participating plan that offers dual benefits of long-term savings and insurance coverage. The regular savings under this plan returns various types of benefits with a life cover. This policy can help you achieve your financial goals through sum assured, bonuses, guaranteed payouts, etc. Few of the key features of this plan are listed below:
- Maturity benefits - If the policyholder survives till the end of the policy, he/she will be entitled to the maturity benefits that include vested guaranteed additions, vested reversionary bonuses, interim bonus and terminal bonus, if any.
- Guaranteed Additions - Under this plan, your investment is protected with guaranteed additions that you earn for the first five years of the policy for annual premium payments.
- Bonuses to increase your savings - You will receive a reversionary bonus from the 6th policy year which will accrue at the end of each policy year. The bonuses and terminal bonus (if any) are paid at the maturity or on death.
- Flexibility - The policy gives you the flexibility to choose the policy term and premium payment term to suit your needs.
- Dual benefits -The plan provides cover for accidental as well as non-accidental death. In the event of your accidental death, the nominee will be entitled to an additional payout.
- High Sum Insured Rebate
- Premium discounts - If you choose a sum assured of Rs.10 lakh and above, the plan will offer premium discounts.
- Premium discount for women - The plan offers an additional premium discount when the life insured is a woman.
- Policy loans - Once the policy reaches the surrender value, it will allow withdrawing a loan amount from the policy fund to help you in an emergency situation. The policyholder is allowed to take a loan for a maximum of 85% of the policy’s surrender value.
- Tax benefits - IDBI Federal Lifesurance® Savings Insurance Plan offers tax benefits under the Income Tax Act, 1961. The Section 80C provides tax deductions for the premiums paid under this policy. Also, according to Section 10(10D), the benefits earned at maturity of this policy are exempted from tax.
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| Plan name |
Key features |
| IDBI Federal Termsurance® Group Protection Insurance Plan |
This is a pure term plan that is designed for groups from various types of establishments involving employer and employees, professionals, suppliers, and other groups with common economic goals and interests. Under this plan, the policyholder receives a single policy document that provides insurance benefits to all the members listed under the plan. The IDBI Federal Termsurance® Group Protection Insurance Plan entitles the policyholder to various types of benefits. Following are few of the key features of this plan:
- For employers – The plan can help attract and retain employees while providing the tax deduction for contribution under Section 37 of the Income Tax Act, 1961. The plan also helps in reducing financial liability.
- For employees – Employees are protected with a life cover that helps in ensuring financial protection for their family. In the event of the employee’s death during the policy term, the nominee will be provided with death sum assured which is exempted from tax.
- Other groups –For groups that do not have employer – employee relationship but are bank - depositors, suppliers, professional, etc. can also take advantage of this policy to gain life cover with assured death benefit and tax benefits.
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| IDBI Federal Termsurance® Group Insurance Plan |
This is a pure group term plan that is made available to all types of formal and informal group. The groups such as the employer-employee,bank-depositor, customer-supplier, professionals, and others can take this policy for basic life insurance coverage. The benefits of this plan include:
- For employers – Apart from providing basic insurance cover, this plan helps the employer in retaining and attracting employees for this added benefit. The premiums paid for this plan are eligible for tax benefits that will help the employer in saving more money and reducing financial liability.
- For employees – Employees are provided with a life cover that ensures assured death benefits to the nominee/family in the event of the employee’s death. The assured death benefits are exempted from tax.
- Other groups – The plan is also offered to groups who do not share employer-employee relationship but are part of a formal or informal group that shares the same economic goals.
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| IDBI Federal Group Microsurance® Plan |
This is a non-linked non-participating group term plan that provides affordable life insurance cover to various types of groups. The plan is designed to suit Micro Finance Institutions, NGOs, and Self Help Groups. The members of these groups are provided with a life cover that protects their family in the event of the member’s unfortunate death.The key features and benefits of this plan are listed below:
- Affordable - The policy is available at an affordable price that makes it easier for the policyholder to provide life cover to the members.
- Death Benefit - In the event of the member's unfortunate death, the nominee/family is eligible for an assured death benefit as applicable under the plan.
- Flexibility -The policyholder can choose the sum assured amount based on the group's requirements
- Hassle-free - In order to obtain the policy, no medical reports are required to be submitted, however, there could be instances where a self-declaration of good health will be requested.
- Large group covers - If the group has more than 200 members, no evidence of health is required, instead, the policy qualifies for automatic acceptance.
- Additional Benefits: The plan may allow attaching an accidental death benefit rider to this plan, subject to IRDAI's approval.
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| IDBI Federal Termsurance® Sampoorn Suraksha Micro-insurance Plan |
This is a pure term insurance plan that offers life Insurance coverage to the members of a group. In case the policyholder encounters unfortunate death during the policy term, his/her family will be provided with an assured lump sum amount as the death benefits. Moreover, the plan offers the following additional benefits and features to the life insured:
- Affordable - The plan is available at an affordable price that makes it easier for the life insured. By paying a nominal premium amount, a life cover can be secured to protect the family of the life insured.
- Flexible policy term - The plan allows the policyholder to decide between 5-years and 10-years policy term.
- Single and regular premium options - Based on the financial stability, the policyholder can choose either the single or regular premium payment option.
- Fast and easy documentation - The plan doesn't require the life insured to go through any medical check-ups. The entire documentation process is simple and don't consume much of the customer's time
- Accidental death - The plan provides coverage for death due to accidents as well. The nominee will be entitled to an assured death benefit and an amount equal to the sum assured.
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| Plan name |
Key features |
| IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan 6 pay |
IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan 6 pay is a non-linked non-participating money back plan that offers assured guaranteed income to secure the future of the policyholder’s family. Even after the unfortunate event of the policyholder’s death, the family will continue to receive the benefits. The policyholder is required to pay the premiums until the 6th policy year, after which, the policyholder is allowed to withdraw benefits up to a certain limit. The key features of this plan are listed below:
- Shorter premium payment term - Under this plan, the customer pays the premium for a shorter duration of time compared to the policy term.
- Guaranteed annual returns - The plan offers guaranteed annuals payouts after the end of the 8th policy year up to the end of the 13th policy year.
- Life over- The plan offers a life cover for the entire policy term of 13 years which the policyholder can obtain by paying the premium for a short repayment term of six years.
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Critical illness cover - Under this plan, the policyholder has the benefit of being protected with a critical illness cover. If the policyholder is diagnosed with any of the pre-defined lists of serious health condition, he/she can take utilize the cover. The policyholder is not required to pay any additional premium to take advantage of the critical illness cover. The cover allows the policyholder to receive a lump sum amount that is used for the treatment of the illness.
- Tax benefit - The plan also helps the policyholder in tax savings. The investment made under this plan and benefits earned through this plan are eligible for tax deductions and tax exemptions. The tax benefits are provided as per the latest tax rules and regulations that are subject to change. Customers are advised to consult a qualified tax advisor before making a purchase decision.
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| Incomesurance™ Guaranteed Money Back Insurance Plan |
This plan is a non-linked non-participating money back plan that offers guaranteed returns on investment. The plan helps the policyholders in securing the future or their family even when they are not around. The key features of this plan are listed below:
- Guaranteed annual payouts - At the inception of the policy, the policyholder can determine the exacted guaranteed annual payouts in order to manage finances efficiently. The payouts start from the 6th policy year and calculated based on your entry age and the annual premium paid by you.
- Limited premium payment term - The policyholder is required to pay the premium for a limited term and not the entire policy term. Under this plan, the policyholder pays the premium for only the first five years of the policy.
- Flexibility - Depending on the annual payouts the policyholder wish to receive, he/she can choose the required premium amount to support the payouts.
- Death benefits - Whether the assured payout has started or not, this life cover under this plan entitles the policyholder's family to get 10 times the annual premium in case of the policyholder's unfortunate death.
- Tax benefits - The premium and benefits under this plan qualify for tax benefits as per the current tax rules and regulation that are subject to change. The premium can be filed for tax deductions under the Section 80C of Income Tax Act and the benefits qualify for tax exemption under the 10(10) of the Income Tax Act, 1961.
- Loan and surrender value - In an emergency situation, the policyholder can take advantage of the loan option provided under the plan. The policy will allow a maximum loan amount that is to 85% of the guaranteed surrender value. If the policyholder has paid at least two annual premiums, he/she can choose to surrender the policy against an assured sum.
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| Plan name |
Key features |
| IDBI Federal Life Insurance Guaranteed Wealth Plan |
This is a non-linked, non-participating life insurance plan that allows the policyholders to enjoy dual benefits. Apart from the benefits of a life cover, the policyholder is also benefited through guaranteed returns on savings. Based on the financial goal, the policyholder can choose to receive the benefit either as a lump sum or as regular income.
- Shorter premium payment term: The policyholder can pay for a limited premium period of 7 years instead of the entire policy term of 14 years.
- Life cover - Though the policyholder pays premium for 7 years, the policyholder's family is protected for the entire
- Enjoy guaranteed benefits - The guaranteed benefits offered under this plan are not subject to market volatility and will be paid out to the beneficiary irrespective of market conditions. The benefits of this plan are guaranteed and will be paid out to you irrespective of market volatility.
- Flexible payouts - The plan allows the policyholder to choose whether he/she wants to receive the assured benefits as a lump sum or as regular income.
- Tax benefits - The customer who to buy this policy are allowing themselves to tax benefits under the Section 80C and 10(10D) of the Income Tax Act, 1961. The premiums paid for the plan are eligible for tax deductions while the benefits and returns qualify for tax exemption. The tax benefits are applicable as per the latest tax laws which are subject to change. Customers are advised to read the policy brochure thoroughly and also to consult a qualified tax advisor before buying the policy.
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| IDBI Federal Wealthsurance® Future Star Insurance Plan |
This policy is a unit-linked insurance plan that enables the policyholders to fulfill their child’s dreams. In the event of the policyholder's unfortunate death, all the future premiums are waived off and the child continues to receive all the benefits including the maturity benefits as planned by the policyholder. Upon the death of the policyholder, the nominee/beneficiary/family is not required to pay an additional premium to be eligible for the death benefits. The plan offers the following important feature which includes, but not limited to:
- Multiple benefits - Under this plan, the life cover provides comprehensive protection to the nominee/beneficiary/family of the policyholder. In the event of the policyholder's unfortunate death, the sum assured as the death benefit is paid out to the nominee. Additionally, all future premiums are waived off and the balance premiums are contributed by the insurer. Also, upon the death of the life insured, the policy continues unitl the end of the policy term and entitles the beneficiary for the maturity benefits.
- Efficient investment fund allocation - As the policy advances towards maturity, the investment funds will be switched from high-risk funds to low-risk funds to protect the policyholder’s investment from unfavorable market situations. The same principle applies when the policyholder encounters death, however, the policyholder is required to opt for this benefit at the inception of the policy.
- Flexible payouts -Depending on the policyholder's requirements, the policyholder can choose to receive the maturity/death benefit either as a lump sum amount or as installments. This flexibility can help the policyholder in achieving his/her financial goals efficiently, even when they are not around.
- Guaranteed loyalty additions: The guaranteed loyalty addition under this plan are certain to increase the policyholder’s savings through assured loyalty additions at the end of the 10th policy year and subsequently at the end of every 5 years thereafter.
- Tax benefits - The IDBI Federal Wealthsurance® Future Star Insurance Plan allows the policyholders to save on tax as per the Section 80C and 10(10D) of the Income Tax Act, 1961. The policyholder’s premiums qualify for the tax deduction while the benefits/returns are free from tax. The benefits are provided based on the current tax laws that are subject to change.
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| IDBI Federal Wealth Gain Insurance Plan - A unit linked insurance plan |
IDBI Federal Wealth Gain Insurance Plan is a unit linked insurance plan that provides dual benefits of life cover as well as wealth gain features. The customers who are looking for a long-term wealth gain policy that provides the protection of a life cover should consider this plan for various benefits and reasons. Based on the financial goal of the policyholder and the risk appetite, he/she can choose from eight different investment funds, he/she can choose to invest in more than one unit linked fund. The key features of this plan include:
- Waiver of the premium on disability - In case of complete and permanent disability of the policyholder during the policy term, the premiums are waived off while the life cover continues until the end of the policy term. Moreover, the guaranteed loyalty addition will continue to add to the policy fund. If the life assured is a child, this benefit will be applicable post the child attaining 18 years of age.
- Investment fund flexibility - The policy allows the policyholder to choose from 8 different investment fund options. The policyholder can choose to invest in more than one fund or redirect the premium to any of the particular based on his/her needs. The policyholder is allowed to switch between investment funds as many times as they without any additional charges. The policyholder has complete control over maximizing or minimizing returns based on the risk and other factors.
- Guaranteed loyalty additions - At the end of the 10th policy year, the policy adds guaranteed loyalty additions to the policyholder’s funds. Additionally, after the 10th policy year, the guaranteed loyalty additions are added to the fund after every 5 years of the policy term.
- Maturity benefits - When the policyholder survives till the end of the policy term, he/she becomes eligible for the maturity benefits. The maturity benefits include the total fund value and the guaranteed loyalty additions.
- Death benefits - In the event of the policyholder’s unfortunate death during the policy term, the nominee/beneficiary will be entitled to the death benefit which is higher of the death sum assured, fund value or 105% of the total premiums. Once the death benefit is paid out, the policy will be terminated and no further benefit will be due towards the beneficiary.
- Tax benefits - The premiums paid for this plan and benefits/returns from this plan qualified for tax benefits. The Section 80C and 10(10D) of the Income Tax Act provide tax deduction and tax exemptions for the premiums paid by the policyholder and the benefits/returned gained through this plan. The tax benefits are subject to change based on the current tax rules and regulations.
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| IDBI Federal Wealthsurance® Growth Insurance Plan |
This is a regular premium unit-linked insurance plan that allows the policyholder to decide how much he/she wants to invest and the duration for the investment as well. The policyholder can choose from 9 different investment funds and decide to invest in one or more funds. Based on the financial goal and risk appetite, the policyholder can choose one or more suitable fund options. Moreover, the life cover protects the family of the policyholder from financial uncertainties in case of the unfortunate death of the life insured. Few of the key features from this plans are listed below:
- Flexibility of investment funds -The policyholder can decide which fund he/she wants to invest in, the investment payment term, and the duration for which the funds needs to be invested. The flexibility enables the policyholder to achieve his/her financial goals efficiently.
- Investment fund options - The policyholder is provided with 9 unique investment fund option which he/she can choose to manage by himself/herself or take assistance from the insurer in managing it. The plan allows switching between investment funds based on the risk appetite and financial goals of the policyholder. The switches are free and don’t attract any charges.
- Guaranteed loyalty additions - Similar to few other insurance plans by IDBI Federal Life Insurance Company, this plan offers guaranteed loyalty additions at the end of the 10th policy tear and every 5 years thereafter. The loyalty additions are provided as rewards for staying invested in the policy.
- Life cover - The regular premium unit-linked insurance plan offers protection to the family of the policyholder through a life cover. In the event of unfortunate death of the policyholder, his/her family will be entitled to the death benefits listed under this plan. The Death benefit will be higher of the sum assured, the fund value or 105% of the total premium amount paid.
- Tax benefits -The plan provides tax benefits to the policyholder as per the Section 80C and 10(10D) of the Income Tax Act, 1961.
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| IDBI Federal Wealthsurance® Growth Insurance Plan Single Premium |
It is a single premium unit-linked insurance plan that can be purchased with a single premium. This plan is suitable for customers who don’t have a steady income to rely on but they can afford a lump sum to get a life cover with an option to boost their savings. The one-time premium payment provides unit linked returns from various investment funds while providing protection to the policyholder’s family through a life cover. The plan comes with the following features:
- One-time premium payment - The policyholder is required to make only a single premium payment to take advantage of the benefits of this plan. Moreover, this plan never lapses.
- Investment fund options - The policyholder can choose one or more investment funds out of the 9 available options to suit his/her requirements. Additionally, the plan allows switching between investment funds without any additional charge. The policyholders can manage their investment funds by themselves or choose to take help from the insurer without paying any additional charge.
- Guaranteed loyalty addition -Under the IDBI Federal Wealthsurance® Growth Insurance Plan Single Premium, the guaranteed loyalty addition are added at the end of the 5th policy year and subsequently every 5 years thereafter.
- Partial withdrawal - In case of an emergency situation, the policyholder can choose to withdraw a partial amount from the fund value. The plan allows a minimum of Rs.10,000 and a maximum of 20% of the fund value as the limit for the partial withdrawal, however, this facility is available only after the completion of the 5th policy year.
- Death benefit - In case the policyholder encounters death during the policy term, the nominee will be entitled to the assured death benefit based on the premium. Once the death benefits are paid, the plan will be terminated and no further benefit will be due for payment.
- Tax benefits - The policyholder can take advantage of the tax benefits offered under this plan. The Section 80C and 10(10D) of the Income Tax Act, 1961 offer tax deductions, and tax exemption benefits for the premium paid and returns earned from this plan.
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| Plan name |
Key features |
| IDBI Federal iSurance Flexi Term Insurance Plan |
This is a non linkednon participating term life insurance plan that can be bought online instantly. Based on the requirements and benefits, the customers can get a customized quote from the insurer. With the flexibility of paying the premium in yearly, half-yearly quarterly, and monthly basis, the plan provides protection to the policyholder’s family against accidental and nonaccidental death along witha cover for terminal medical conditions. The key features of this plan include:
- Flexibility -The plan provides the flexibility to choose whether a lump sum, regular monthly income or a combination of both should be given as the death benefit.
- Life cover - The policyholder is benefited with a larger amount of life covered compared to the small amount of premium.
- Online purchase - The plan can be easily purchased online by providing all the necessary documents.
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Claim Settlement Ratio of IDBI Federal Life Insurance
IDBI Federal comes with a diverse range of offering for its customers in the life insurance industry. With a decent claim settlement record, the company ensures easy access to the claim amount within the shortest possible time. Its claim settlement ratio for the fiscal year 2017-18 is as follows:
| No. of claims received |
No. of claims approved |
Claim settlement ratio |
| 1,161 |
1,068 |
91.99% |
Claim settlement ratio trend over the years:
| Year |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
2017-18 |
| Settlement Ratio |
67% |
80% |
90% |
76% |
85% |
90% |
92% |
Claim Settlement Procedure for IDBI Federal Life Insurance
The company offers a hassle-free claim settlement process for the benefit of its customers. The procedure for filing death and maturity claims are listed as follows:
Death claims
Following the unfortunate death of the insured person, the nominee can file a claim request to the company. All the necessary forms associated with the filing process can be downloaded online. The following list of documents must be submitted to IDBI Federal Life Insurance to initiate the claim:
- Duly filled claim form
- Death certificate
- Original policy document
- ID and address proof of the nominee
- Medical records of the insured person
- Police FIR and accident report (for accidental death cases)
- Cancelled cheque of the nominee’s bank account
Once these documents are submitted, the company will verify the validity of the claim and settle the claim amount after verification. In the case of rejection, the company will provide a valid reason for rejection
Maturity claims
During the time of maturity, the company will send an intimation to the insured regarding the maturity of the policy. The insured may visit the company and provide the policy details to initiate the claim settlement process. The company will verify the details of the insured person before providing the settlement amount.
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