IDBI Federal Life Insurance has launched long-term savings plan – ‘Lifesurance Savings Insurance’, which offer triple benefit of bonus, guaranteed additions and life-cover. The plan is a fixed-term participating endowment policy that allows the policyholder to accumulate considerable savings, apart from providing life cover.
Benefits of Lifesurance
On the maturity the Lifesurance policy, the insurance company will pay the sum insured along with the vested guaranteed additions,vested reversionary bonuses and terminal bonus, if any, in a lump sum.
On the death of the life insured during the policy term, the insurance company will pay the beneficiary the sum insured along with the vested guaranteed additions, vested reversionary bonuses, interim bonus, if any and terminal bonus, if any, in a lump sum.
Guaranteed additions at the rate 50 per 1,000 sum insured will be added to your policy for each full annual premium that is due and paid in the first 5 years of the policy.
After the fifth policy year, the Lifesurance policy will participate in any profits of our participating policyholder’s life fund by way of reversionary bonuses and possibly terminal