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IDBI Federal Homesurance

Entry Age (years)  
Minimum 18
Maximum 60
Maximum Maturity Age (years) 70
Policy Term (years)  
Minimum 5
Maximum 25
Sum Assured (Rs)  
Minimum 100000
Maximum 20000000
Premium Payment Frequency Single, Yearly, Half-yearly, Quarterly, Monthly
Premium Payment Term Single, Regular (2/3rd of loan term)
Premium Factor (multiply with annual premium) Semi Annual: 0.51 ; Quarterly: 0.26; Monthly: 0.09
Policy Cover Cover decreases in line with decrease in outstanding loan amount
Other Features  
Free Look Cancellation In 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 Period You are allowed to pay premiums within 30 days 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 Reinstatement You 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 Benefits Section 80C, 10(10D) of the Income Tax Act, 1961 would apply. Premium paid is eligible for tax deduction as per current income tax act.
Exclusions In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Surrender Value Allowed under single premium policy. Surrender Value is not guaranteed. Details will be given in policy document.
Customer Service  
Address IDBI Federal Life Insurance Co Ltd
First Floor, Trade view,
Oasis Complex, Kamala City,
P. B. Marg, Lower Parel (West),
Mumbai - 400 013, Maharashtra.
Mail To [email protected]
Call On 1800 102 5005 for non MTNL subscribers and 1800 22 1120 for MTNL subscribers
SMS Home' to 5757515
Additions to the Plan  
Available Rider(s) Accidental Death and Disablement Benefit: covers Death due to an accident, Disablement caused due to an accident.
Accidental Death Benefit: Death due to an accident
Hospital Cash benefit: Admission to hospital for treatment of any injury or illness.
Daily cash allowance for each day of hospitalisation from the third day and onwards. Normal benefit is paid for stay other than ICU.
Recovery allowance in case of hospitalisation for more than 5 days.
Additional allowance if I.C.U treatment is required.
Major Diseases Benefit: It covers 17 critical illnesses namely Heart Attack, Coronary Artery Bypass Surgery, Heart Valve Replacement Surgery, Surgery of disease of the Aorta, Cancer, Stroke, Kidney failure, Major organ transplant, Paralysis, coma, Multiple Sclerosis, Alzheimer's Disease( before age 61), Parkinson's Disease (before age 61). benign Brain Tumour, Major Head Trauma, Major Burns and Primary Pulmonary Arterial Hypertension.
Waiver of Premium: future premiums will be borne by the insurance company in case of total and permanent disability
Rider Conditions  
Entry Age (years)  
Minimum 18
Maximum Accidental Death, Accidental Death and Disability Benefit & Waiver of premium Benefit: 60; Hospitalisation Cash Benefit, Major Disease Benefit: 55
Maximum Maturity Age (years) 65
Rider Term (years)  
Minimum 5
Maximum Hospitalisation Cash benefit: 5 years, subject to maximum of base policy term. For others: Base policy term
Sum Assured (Rs)  
Minimum Accidental Death, Accidental Death and Disability Benefit, Major Diseases Benefit: Rs 50000
Maximum Accidental Death, Accidental Death and Disability Benefit: Rs 50 lakh or Basic Sum Assured whichever is lower. Major Diseases Benefit: Rs 20 lakh or Basic Sum Assured whichever is lower
Rider Premium (Rs) Rider premiums vary for each policyholder. For instance, if a 30-year old opts for the Accidental Death rider for Rs 5 lakh sum assured over a 10 year tenure with premium payment term of 6 years; the annual rider premium works to Rs 500, Rs 750 in case of Accidental Death and Disablement Benefit, Rs 240 for Hospital Cash Benefit for 500 capsules and Rs 1255 in case of Major Disease Benefit.