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IDBI Federal Life Wealth Plans

IDBI Federal is one of the leading insurance solution providers across the country. The wealth plans offered by IDBI Federal Life Insurance Company come with a lot of flexibility and innovation. They offer lump sum benefits than can be used by the policyholder’s family in his/her absence. The plans take care of different investment and financial needs at various life stages.

There are five different wealth plans offered by IDBI Federal Life Insurance Company. They are mentioned below:

  • Guaranteed Wealth Plan
  • Wealthsurance Future Star Insurance Plan
  • Wealth Gain Insurance Plan
  • Wealthsurance Growth Insurance Plan
  • Wealthsurance Growth Insurance Plan SP

Benefits of IDBI Federal Life Wealth Plans:

  • The policyholders can enjoy life cover with these plans and death benefit is availed by the nominee or beneficiary of the policyholder in case he/she encounters death in an event while the policy is active.
  • Great financial security can be enjoyed by the policyholder with the wealth plans offered by IDBI Federal Life Insurance Company.
  • Eligible tax benefits can be availed with these plans.
  • Riders or add-on plans can be chosen to enhance the base policy.

Guaranteed Wealth Plan:

The IDBI Federal Life Insurance Guaranteed Wealth Plan is a non-linked, non-participating life insurance plan. This particular plan can be utilised for several things like child’s education, house renovation, etc.

Benefits under the IDBI Federal Life Insurance Guaranteed Wealth Plan:

  • The policyholder has to pay the premiums for the first 7 years only.
  • The IDBI Federal Life Insurance Guaranteed Wealth Plan offer life cover for a span of 14 years. The plan ensures that the loved ones of the insured are financially secure and safe at all points in life.
  • Guaranteed benefits can be availed under the IDBI Federal Life Insurance Guaranteed Wealth Plan irrespective of the volatility present in the market.
  • Two options can be availed by the policyholder under the IDBI Federal Life Insurance Guaranteed Wealth Plan – Regular Income Benefit and Lump sum Benefit.
  • Tax benefits can be availed with the IDBI Federal Life Insurance Guaranteed Wealth Plan under Sections 10 (10D), 80C, 80CCC and 80CCD.
  • Upon death of the insured person, highest of the following is paid to the nominee or legal heir of the insured person:
    • 105% of the total premiums paid as on death date, or
    • 10 times of the annualized premium, or
    • Basic sum assured
  • Maturity benefit is rolled out if the insured person survives till the maturity date of the policy.
Plan Name IDBI Federal Life Insurance Guaranteed Wealth Plan
Minimum age at entry 10 years
Maximum age at entry 55 years
Maximum age at maturity 69 years
Premium payment period 7 years
Minimum premium Rs.35,000

IDBI Federal Wealthsurance Future Star Insurance Plan:

The IDBI Federal Wealthsurance Future Star Insurance Plan is a unit linked plan. It is designed to offer a powerful solution for building wealth efficiently to fund the big dreams and aspiration of the policyholder’s child. This insurance cover designed for insured person keeps his/her child financially secure and safe.

Benefits under the IDBI Federal Wealthsurance Future Star Insurance Plan

  • The IDBI Federal Wealthsurance Future Star Insurance Plan helps in shaping the future for the insured person’s child.
  • Life cover benefit can be availed under this plan in the event of the insured parent’s demise. The policy will still be continued and further premiums will not have to be paid.
  • There are nine different fund options that can be chosen with the IDBI Federal Wealthsurance Future Star Insurance Plan. They are as follows:
    • Cautious Asset Allocator Fund
    • Moderate Asset Allocator Fund
    • Aggressive Asset Allocator Fund
    • Liquid Fund
    • Bond Fund
    • Income Fund
    • Pure Fund
    • Equity Growth Fund
    • Midcap Fund
  • Guaranteed loyalty additions can be enjoyed for the long-term investments.
  • Life cover can be availed for the parent.
  • Maturity benefit can be availed under the IDBI Federal Wealthsurance Future Star Insurance Plan. Upon maturity, the sum assured is paid and the policy gets terminated.
Plan Name IDBI Federal Wealthsurance Future Star Insurance Plan
Minimum age at entry 18 years
Maximum age at entry 54 years
Minimum age at maturity 28 years
Maximum age at maturity 64 years
Minimum premium payment term 5 years
Minimum premium Rs.25,000

IDBI Federal Life Insurance Wealth Gain Plan:

The IDBI Federal Life Insurance Wealth Gain Plan is designed to offer a comprehensive solution that provides the life cover to the policyholder and allows him to build wealth over a long term. The IDBI Federal Life Insurance Wealth Gain Plan is a unit linked insurance plan. The policyholder can choose from a wide range of investment funds for his/her policy.

Benefits under the IDBI Federal Life Insurance Wealth Gain Plan:

  • The IDBI Federal Life Insurance Wealth Gain Plan helps the policyholder to build wealth with flexibility of premium payments.
  • The insured person can secure his/her loved ones with life cover and avail premium waiver on disability.
  • The policyholder can choose from 8 different investment options. These options are mentioned below:
    • Cautious Asset Allocator Fund
    • Moderate Asset Allocator Fund
    • Aggressive Asset Allocator Fund
    • Bond Fund
    • Income Fund
    • Pure Fund
    • Equity Growth Fund
    • Midcap Fund
  • The policyholder’s investments are boosted by the guaranteed loyalty additions.
  • The insured person has complete freedom of investing as per his/her risk appetite. He/she can also choose to switch between funds.
  • Tax benefits can be availed under the prevailing tax laws with the IDBI Federal Life Insurance Wealth Gain Plan.
  • In case the policyholder encounters death while the IDBI Federal Life Insurance Wealth Gain Plan is active, the nominee or the beneficiary will get the higher of Fund Value or Death Sum Assured or 105% of premium paid till the date of demise.
  • When the policy matures, the insured person can enjoy the fund value along with the guaranteed loyalty additions as the maturity benefit.
Plan Name IDBI Federal Life Insurance Wealth Gain Plan
Minimum age at entry 5 years
Maximum age at entry 60 years
Minimum age at maturity 18 years
Maximum age at maturity 74 years
Premium amount Rs.2,500 monthly and Rs.30,000 yearly
Minimum premium payment term Below 50 years of age – 5 years Above or equal to 50 years age – 10 years

IDBI Federal Wealthsurance Growth Insurance Plan:

The IDBI Federal Wealthsurance Growth Insurance Plan allows the insured individual to build his/her wealth the way he/she wants. With the IDBI Federal Wealthsurance Growth Insurance Plan, the policyholder can enjoy total flexibility in steering his/her investments on the basis of his/her financial goals. The policyholder’s family can avail life cover and stay financially secured.

Benefits under the IDBI Federal Wealthsurance Growth Insurance Plan

  • The IDBI Federal Wealthsurance Growth Insurance Plan offers the policyholder to choose the amount he/she wishes to invest and the term of the investments.
  • The insured individual can easily manage his/her investments according to his/her risk appetite.
  • The policyholder’s investments are boosted by the guaranteed loyalty additions.
  • The insured person can secure his/her loved ones with life cover.
  • Tax benefits can be availed under the prevailing tax laws with the IDBI Federal Wealthsurance Growth Insurance Plan.
  • There are nine different fund options that can be chosen with the IDBI Federal Wealthsurance Growth Insurance Plan. They are as follows:
    • Cautious Asset Allocator Fund
    • Moderate Asset Allocator Fund
    • Aggressive Asset Allocator Fund
    • Liquid Fund
    • Bond Fund
    • Income Fund
    • Pure Fund
    • Equity Growth Fund
    • Midcap Fund
  • In case the policyholder encounters death while the IDBI Federal Wealthsurance Growth Insurance Plan is active, the nominee or the beneficiary will get the higher of Fund Value or Death Sum Assured or 105% of premium paid till the date of demise.
  • When the policy matures, the insured person can enjoy the fund value along with the guaranteed loyalty additions as the maturity benefit
Plan Name IDBI Federal Wealthsurance Growth Insurance Plan
Minimum age at entry 1 month
Maximum age at entry 64 years
Minimum age at maturity 18 years
Maximum age at maturity 74 years
Minimum premium payment term 5 years
Minimum premium Rs.25,000 yearly

IDBI Federal Wealthsurance Growth Insurance Plan SP:

The IDBI Federal Wealthsurance Growth Insurance Plan SP is a unit linked plan. This particular insurance policy allows the policyholder to avail the market return benefits by investing once. However, the policyholder will not be allowed to withdraw any money or surrender the plan till the end of the 5th policy year.

Benefits under the IDBI Federal Wealthsurance Growth Insurance Plan SP

  • The policyholder can avail the convenience of making one-time payment.
  • The insured individual can easily manage his/her investments according to his/her risk appetite.
  • The policyholder’s investments are boosted by the guaranteed loyalty additions.
  • The insured person can secure his/her loved ones with life cover.
  • Tax benefits can be availed under the prevailing tax laws with the IDBI Federal Wealthsurance Growth Insurance Plan SP.
  • When the policy matures, the insured person can enjoy the fund value along with the guaranteed loyalty additions as the maturity benefit
  • In case the policyholder encounters death while the IDBI Federal Wealthsurance Growth Insurance Plan SP is active, the nominee or the beneficiary will get the higher of Fund Value or Death Sum Assured or 105% of premium paid till the date of demise.
  • There are nine different fund options that can be chosen with the IDBI Federal Wealthsurance Growth Insurance Plan SP. They are as follows:
    • Cautious Asset Allocator Fund
    • Moderate Asset Allocator Fund
    • Aggressive Asset Allocator Fund
    • Liquid Fund
    • Bond Fund
    • Income Fund
    • Pure Fund
    • Equity Growth Fund
    • Midcap Fund
Plan Name IDBI Federal Wealthsurance Growth Insurance Plan SP
Minimum age at entry 1 month
Maximum age at entry 70 years
Minimum age at maturity 18 years
Maximum age at maturity 75 years
Minimum term of the policy 5 years
Minimum premium Rs.25,000

Why do you need the IDBI Federal Life Wealth Plans?

Life Insurance policies are generally opted by people to ensure the safety and financial security of their loved ones in the event of an unfortunate event. Additional security is offered by the wealth plans as they offer guaranteed income. IDBI Federal Life Insurance Company is one of the leading insurance solutions providers in India. The insurance solutions offered by this organisation come with immense flexibility and innovation. They are tailored to meet the requirements of the customers. The IDBI Federal Life Insurance Company is the joint venture of Federal Bank and IDBI Bank. The vision of this insurance company is to offer retirement, wealth and protection solutions. Great customer service and advanced technology ensures that this company is among the best insurance providers present in the market today.