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IDBI Federal Homesurance Protection

Eligibility  
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 No limit
Premium Payment Frequency Yearly
Premium Payment Term 3/5/10 installments or repayment as loan EMI. 5 and 10 premium payment term is available if home loan term is 10/ 15 years or more.
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 Not guaranteed
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 Home' to 5757515