IDBI Federal launches medical tests free – Termsurance® Seniors Insurance Plan for seniors, which can be bought after the age of 50, with premiums as low as Rs. 100 per month. The plan can be bought by those up to the age of 85 years and comes with a no-questions-asked, no-medical-tests guaranteed acceptance and offers a life insurance cover for whole of life.
In case of death of the insured person after 2 years of commencement of policy, sum insured will be paid to the beneficiary, provided regular payment of the premiums have been made. In case of death of the insured person is within 2 years from the commencement of the policy, the nominee will get 125% of the total premiums paid.