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IDBI Federal Life Child Insurance Plans

IDBI Federal Life Insurance is a leading private insurance provider that offers multiple categories of insurance plans for each purpose. The company designs a specific category of plans for each individual. Whether you are in need of a retirement plan or an endowment plan or a child plan, you can count on the organisation to give you tailor-made solutions according to your preferences.

If you are looking for an insurance plan for your adorable child, you can check out the exclusive child plan offered by IDBI Federal Life Insurance which is known as IDBI Federal Childsurance Savings Protection Insurance Plan.

Benefits of IDBI Federal Life Child Plan

Let us take a look at the advantages of taking a child plan from IDBI Federal Life Insurance:

  • The child plan from IDBI Federal Life Insurance will provide your child with protection as well as excellent savings.
  • This plan will go on until the policy matures even if you die during the policy period.
  • You will receive bonuses with this plan that will help you in enhancing your savings.
  • The child plan from IDBI Federal Life Insurance will provide you with guaranteed annual payouts.
  • You will have the necessary resources and funds to help your child achieve his or her academic goals, career goals, and personal goals.
  • You can make arrangements for your child’s wedding with the help of this child plan.
  • Under this plan, when the policyholder dies, the child will receive the death sum assured, bonuses and declared bonuses.
  • When the policyholder survives, this plan will offer interim bonus, vested reversionary bonus, and terminal bonus.

List of Child Plans Provided by IDBI Federal Life Insurance

Let us take a look at the details regarding the child plan offered by the company:

IDBI Federal Childsurance Savings Protection Insurance Plan:

This is a protection plan that is exclusively designed for children. It also helps in saving money over a period of several years. With this plan, you can prepare your child for the future. You can save sufficient funds with this plan to assist your children in achieving their aspirations and ambitions.

Benefits and Features of IDBI Federal Childsurance Savings Protection Insurance Plan:

Let us take a look at the benefits as well as features of this plan:

  • It will help you handle your child’s specific requirements.
  • You can motivate your child to attain his goals with the help of this plan.
  • This plan will give financial security to your child even if something unfortunate happens to you. This way, your kid does not have to forego his or her goals because you are not around.
  • This plan can be taken by parents, legal guardians, or grandparents for the well-being of their child.
  • You can fix your guaranteed annual payout amount according to your specific needs.
  • You can select your maturity sum assured (MSA) according to the number of payouts that you need.
  • You can go for 3 or 5 payouts. While selecting the number of payouts, you will have to consider your child’s age and the commencement of your payouts.
  • Under this plan, the death sum assured will be 7 times the annualised premium for people who are aged 45 and above and 10 times the annualised premium for people who are aged below 45 OR the maturity sum assured, whichever is higher.
  • Under this plan, bonuses (if any) will be paid at the end of the policy period.
  • The death benefit will be equivalent to 105% of every premium that has been paid until the date of death.
  • You can choose a regular payment or limited payment option under this plan.
  • This plan offers a grace period of 30 days.
  • If something fortunate happens to you, then the remaining premiums will be waived off.

Table showing the Child Plan offered by IDBI Federal Life Insurance

Let us take a look at the child plan provided by this company:

Plan name Eligibility age Maturity age Premium
IDBI Federal Childsurance Savings Protection Insurance Plan For insured person (parent) Minimum: 18 Maximum: 50 years (for limited payment option) and 40 years (for regular payment option) For nominee (child) Minimum: 1 month Maximum: 18 years 28 years to 65 years (for regular payment option) and 75 years (for limited payment option) Minimum: Annually: Rs.10,000 Monthly: Rs.1,000 (For monthly premium payment frequency, loading factor of 0.09% will be applied.) Maximum: There is no limit and it fully depends on underwriting.

Why one needs IDBI Federal Life Child Plan?

IDBI Federal Life Insurance is a prominent life insurance company that is committed to delivering high-quality insurance solutions for various purposes. You can trust the company to provide you with reliable customer support whenever you are in need. The organisation has knowledgeable and hardworking staff who will assist you throughout the insurance application and claims settlement process. With the child plans from IDBI Federal Life Insurance, you can create a firm foundation for the growth of your child’s aspirations. Your child’s future will be safe in the hands of this great plan. It will help you realise your responsibility as a parent and enable you to make your child’s wishes come true. You can save funds efficiently with this plan to give a bright morrow for your beloved child.