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IDBI Federal Termsurance-Level Term Plan

Entry Age (years)  
Minimum 18
Maximum 65
Maximum Maturity Age (years) 75
Policy Term (years)  
Minimum 10
Maximum 30
Sum Assured (Rs)  
Minimum 500000
Maximum No limit
Premium Payment Frequency Single, Yearly, Half-yearly, Quarterly, Monthly
Premium Payment Term Single, equal to policy term, Limited (3 and 5 years)
Premium Factor (multiply with annual premium) Semi Annual: 0.51 ; Quarterly: 0.26; Monthly: 0.09
Policy Cover Cover remains fixed for the tenure of the policy
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 (15 days for monthly option). 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.
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 only to Single and Limited Premium policyholders. Surrender value However is non guaranteed. For Limited Premium Payment
= 75% x {(Policy term less policy duration in complete years) / Policy term} x Total premiums paid.
For Single premium policies
= 75% x {(Policy term less policy duration in complete years) / Policy term} x Single premium
Customer Service  
Address IDBI 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 On 1800 102 5005 for non MTNL subscribers and 1800 22 1120 for MTNL subscribers from 8A.M to 8 P.M
SMS ' Term' to 5757515