They can also make premium calculations. The IDBI Federal Life Insurance Company has been renamed as Ageas Federal Life Insurance Company after Belgian multinational insurer Ageas Insurance International (Ageas) bought 23 percent holding representing 18,40,00,000 share for a consideration of Rs 507.10 crore. Since then, they have recorded annual profits of Rs.80 crore. The IDBI Federal Lifesurance Whole Life Savings Insurance Plan offers a lump sum payout at the end of the policy term and another payout when the policyholders attains the age of 100. Federal Bank is a Corporate Agent of IDBI Federal Life insurance Company Limited having its registration number (Regn. Policyholders can choose the premium or contribution towards the. IDBI Federal Life Insurance Co Ltd. is a three way joint-venture of IDBI Bank, an Indian development and commercial bank; Federal Bank, one of India’s leading [peacock term] private sector banks and Ageas, a multinational insurance giant based out of Europe. IDBI Federal Life Insurance made history when they broke into making profits by the 5th year of being formed. In the case of suicide, whether sane or insane, the nominee is entitled to 80% of the benefits paid till that point. If he/she disagrees with any of the terms and conditions of the policy, they can return the policy. All rights reserved. If the policyholder has held the policy for three consecutive yet has failed to pay the premiums, the policy will automatically be converted to the reduced paid-up benefit structure. The company offers a diverse range of life insurance policies to meet the coverage requirements of its customers. Find Eligibility Features Benefits Documents Required How Plans Work Reviews & Premium Calculation. To be eligible for the benefit, death should occur within 180 days from the occurrence of the accident. It offers a wide variety of life cover, retirement options, and capital management solutions to both individuals and corporate clients. IDBI Bank Limited 12/31/2020 | Press release | Distributed by Public on 01/01/2021 06:13 Stake Sale by IDBI Bank in IDBI Federal Life Insurance Company Limited to Ageas and Federal Bank 5) Top 10 Trusted Life Insurance … The key features of the IDBI Federal Lifesurance Whole Life Savings Insurance Plan are listed below. One of the premier life insurance companies in the country, IDBI Federal Life Insurance offers a range of products suited for customers’ various needs and requirements. This plan also comes with additional bonuses and coverage in case of accidental death or disability. Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. 3) IDBI Federal Conferred with the ‘Best Life Insurance Company – Work Culture’ award 4) Service Provider of the Year 2019. Section 80C of the Income Tax Act, 1961, for contributions (premiums) made towards the scheme. Policyholder enrolled with the IDBI Federal Lifesurance Whole Life Savings are liable to tax benefits under the Income Tax Act of 1961. Minimum: Rs.10,000 per year for annual, half-yearly, quarterly modes Annually, half-yearly, quarterly, monthly. Insurance is the … IDBI Federal Life Insurance Updated on November 27, 2020 , 1621 views. Corporate Identity Number (CIN) – U66010MH2007PLC167164. Check out IDBI Federal Lifesurance Whole Life Saving Insurance Plan online. Idbi Federal Life Insurance Company Limited is a Public incorporated on 22 January 2007. IRDAI Registration No. Policyholders are granted the guaranteed sum assured, 10 times the annualised premium or 105% of the premiums paid till date, the vested reversionary bonuses (accumulated from the end of the policy), and the terminal bonus (if applicable). 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