Your nominee need not worry about rising costs if you choose this option. In case of your unfortunate death, this option pays out the death sum assured as a monthly income to the nominee. The income increases by 7.5% every year with a compounding effect. Now your policy is as smart as you.
If your life cover is worth Rs.1 Crore, your nominee will receive a lump sum payment of Rs.10 lacs and Rs.50,000 as the monthly income, for the next 15 years, which will grow at 7.5% per annum.
IDBI Federal iSurance Flexi Term Insurance Plan Called as iSurance Flexi Term (UIN: 135N044V01) is a non linked,non participating term life insurance plan. Tax Exemption are as per the Income Tax Act, 1961 and are subject to changes in the tax laws from time to time. IDBI Federal Life Insurance Company Ltd. does not assume responsibility on tax implication. Please consult your own tax consultant to know the tax benefits available to you. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. The product is underwritten by IDBI Federal Life Insurance Company Limited (IRDAI Regn. No 135; Corporate Identity Number (CIN) - U66010MH2007PLC167164) having its registered office at: IDBI Federal Life Insurance Company Limited, 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel – East, Mumbai – 400013. Website: www.idbifederal.com. Toll Free: 1800 209 0502. Trade Logo displayed above belongs to IDBI Bank Limited, The Federal Bank Limited and Ageas International Insurance N. V. and used by IDBI Federal Life Insurance Company Limited under license from respective partners.
BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS.
IRDAI clarifies to public that:
- IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
- IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
Reference No. 13439/LIFT/ENG/Electronic-WEB/Nov16
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