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IDBI Federal Termsurance Premier Insurance Plan


This policy aims to protect the family from financial turbulence in the event of death of policyholder.

What does it do?

This is a simple term insurance plan that pays sum assured to the nominee on unfortunate demise of the life insured. There is no maturity or surrender value.


The policy offers lower premium rates for females and non tobacco users.
It also covers for a longer age up to 75 years.
Premiums qualify for taxation benefits.


The policy is not suitable for anyone who needs life cover lesser than Rs 1 crore.
The policy doesn’t have any surrender value and doesn’t offer any riders.

Suited for

The policy provides minimum coverage of Rs 1 crore, which makes it suitable for those who require a higher life cover.

Our View

Minimum sum assured is Rs 1 crore which makes the policy apt for those with bigger responsibilities and liabilities.
However this is a plain life insurance plan without any riders for additional coverage.

Entry Age (years) 
Maximum Maturity Age (years)75
Policy Term (years) 
Sum Assured (Rs) 
MaximumNo limit
Premium Payment FrequencyYearly, Half-yearly, Quarterly, Monthly
Premium Payment TermEqual to policy term
Premium Factor (multiply with annual premium)Semi Annual: 0.51 ; Quarterly: 0.26; Monthly: 0.09
Policy CoverCover remains fixed for the tenure of the policy
Other Features 
Free Look CancellationIn case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace PeriodYou are allowed to pay premiums within 30 days (15 days for monthly option) from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover will be terminated.
Lapsed Policy ReinstatementYou can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums with interest and undergoing underwriting requirements, if any.
Tax BenefitsSection 80C, 10(10D) of the Income Tax Act, 1961 would apply.
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Customer Service 
AddressIDBI Federal Life Insurance Co Ltd
First Floor, Tradeview,
Oasis Complex, Kamala City,
P. B. Marg, Lower Parel (West),
Mumbai - 400 013, Maharashtra.
Mail To[email protected]
Call On1800 102 5005 for non MTNL subscribers and 1800 22 1120 for MTNL subscribers from 8A.M to 8 P.M
SMSPremier' to 5757515
Annual Premium Option for Male
Policy Term (in years)Age (in years)
Figures indicate premiums on a Rs 1 crore policy for an age over different policy tenures exclusive of service tax.
Annual Premium Option for Female
Policy Term (in years)Age (in years)
Figures indicate premiums on a Rs 1 crore policy for an age over different policy tenures exclusive of service tax.