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IDBI Federal Loansurance Group Insurance Pla..
IDBI Federal Loansurance Group Insurance Pla..




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IDBI Federal Loansurance Group SP

1 Details
1.1 Insurance Provider
IDBI Federal Life Insurance
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
70.90%
Rank: 17 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
72.00%
Rank: 14 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
90.34 %
Rank: 9 (Overall)
DHFL Pramerica Family Income
1.3 Type
Group Life Insurance Plan
1.4 Status
In-force
1.5 Online
10% Group Life Insurance Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
15 years
Rank: 14 (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
65 years
Rank: 15 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
Not Available
Rank: N/A (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
75 years
Rank: 12 (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
2 years
Rank: 2 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
30 years
Rank: 17 (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
₹ 10000
Rank: 5 (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Not Applicable
1.8.3 Max Sum Assured
IDBI Federal Lo..
₹ 1000000000
Rank: 1 (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
Not Applicable
1.9 Group Plan
99% Group Life Insurance Plans Life insurance plans have it !
1.9.1 Group Type
Employer-Employee
1.9.2 NEE Size
Metlife Group T..
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
50
Rank: 3 (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
Not Available
Rank: N/A (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Depends on the policy terms
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
As mentioned in the policy schedule
2.3 Payment Options
Single Pay
2.4 Regular Modes
Not Applicable
2.5 Top Up
Not Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
5% Group Life Insurance Plans Life insurance plans have it !
3.2 Surrender
66% Group Life Insurance Plans Life insurance plans have it !
3.2.1 Surrender Value
Depends on the type of cover chosen, premium and policy term
3.3 Benefits
3.3.1 Tax
94% Group Life Insurance Plans Life insurance plans have it !
3.3.2 Tax Benefit Amount
As per the applicable tax laws
3.3.3 Service Tax
Applicable
3.3.4 Maturity
11% Group Life Insurance Plans Life insurance plans have it !
3.3.5 Maturity Benefit Amount
Not Applicable
3.3.6 Death
91% Group Life Insurance Plans Life insurance plans have it !
3.3.7 Death Benefit Amount
As per the benefit schedule
3.3.8 Annuity
12% Group Life Insurance Plans Life insurance plans have it !
3.4 Bonus
Not Available
4 Provisions
4.1 Renewal
76% Group Life Insurance Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
2 years
Rank: 3 (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
25% Group Life Insurance Plans Life insurance plans have it !
4.2.2 ADBR Description
Not Applicable
4.2.3 Critical Illness
17% Group Life Insurance Plans Life insurance plans have it !
4.2.4 CI Description
Not Applicable
4.2.5 Term Rider
No Group Life Insurance Plans Life insurance plans has it !
4.2.6 TR Description
Not Applicable
4.2.7 Permanent Disability
20% Group Life Insurance Plans Life insurance plans have it !
4.2.8 PD Description
Not Applicable
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
30 Days
Rank: 1 (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Suicide Clause
5.4 Charges
5.4.1 Premium Allocation
27% Group Life Insurance Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Applicable
5.4.3 Policy Administration
14% Group Life Insurance Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Applicable
5.4.5 Fund Management
27% Group Life Insurance Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Applicable
5.4.7 Mortality
26% Group Life Insurance Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Available
5.4.9 Switching
Not Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Not Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Not Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Allowed
5.5.2 Deletion
Allowed
5.6 Medical Examination
43% Group Life Insurance Plans Life insurance plans have it !

Information on IDBI Federal Loansurance Group SP

IDBI Federal Loansurance Group Insurance Plan SP is one of the Group Life Insurance Plans provided by IDBI Federal Life Insurance. Claim settlement ratio for this insurance company is 72.00%. This policy cannot be bought online. To buy this plan, life insured has to be at least 15 years old as on his last birthday. Maximum entry age for this plan is: 65 years. Vesting age or maturity age for this plan is Not Available. Information on IDBI Federal Loansurance Group SP policy term and returns can be found on details.

Payment Options for IDBI Federal Loansurance Group SP Premium

Insurance premium is an amount that is paid to the insurance provider at regular or limited intervals or at once. Regular payment means that one pays premium (money you pay in exchange of life cover) throughout the policy term. Limited pay means that one pays premium only for a limited number for years say 3 to 5 years whereas single pay means that you pay premium at once. After maturity of some of the insurance plans, these premiums are returned to you along with additional bonus as policy gains. IDBI Federal Loansurance Group Insurance Plan SP Premium and gains are ways of investment for the life insured person. Payment options for IDBI Federal Loansurance Group SP premium include: Single Pay.

IDBI Federal Loansurance Group SP Gains

IDBI Federal Loansurance Group SP gains are the benefits that are available under the insurance policy. You cannot avail loan under this plan. If one is unable to pay premiums, some companies allow surrender of policy. The amount of money that you get back after you surrender your policy is known as surrender value. IDBI Federal Loansurance Group Insurance Plan SP assures guaranteed surrender value. Compare IDBI Federal Loansurance Group Insurance Plan SP and MET Pension (Par) to know the difference between gains of these plans. Tax benefit is applicable for this plan. When a policy has tax benefit, it means that the premiums you pay for that policy are eligible for deduction in tax returns and so is a part of the money you get at the end of policy term. Maturity benefit is not provided by IDBI Federal Life Insurance. This plan assures death benefit.

Provisions of IDBI Federal Loansurance Group SP

Provisions of IDBI Federal Loansurance Group SP include riders i.e. special clauses to consider the cases where the policy holder will not be able to pay premium. For example in case the life insured suffers disability due to some accident or in case of demise of the policy holder due to some accident. Special circumstances like the are covered in riders. In such conditions, these riders provide an option for you to surrender the policy and get back the money that you have paid in terms of premiums. Accidental Death is not applicable for this plan. Critical Illness cannot be availed under this policy. This insurance plan does not assure Term Rider. Permanent Disability is not applicable for this plan. Riders can sometimes be bought by paying additional premium.

  • Terms and Conditions:
  • IDBI Federal Loansurance Group Insurance Plan SP Terms and Conditions include grace period, free look period, etc. Grace period is the period where in the policy can be reinstated by paying the unpaid premiums. Grace Period available for this plan is of 30 Days. Free look period is the period where in you can return the policy if you are not satisfied with the terms and conditions of IDBI Federal Loansurance Group Insurance Plan SP. Free look period available for this plan is of 15 Days.

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