IDBI Federal Life Insurance Guaranteed Income Plan A
IDBI Federal Life Insurance Guaranteed Income Plan A non-linked, non-participating life insurance plan Training Presentation (UIN No. 135 N 050 V 03) Product Marketing, May 2020 r a l u g e R & d e t i m m u i Li m Pre 1
Key Benefits Flexibility to choose premium payment term and policy term of one’s choice Choose to receive your benefits as a lump sum or as regular income (at inception) Enjoy guaranteed benefits irrespective of market conditions Get tax benefits of Sec 80 C and Sec 10(10 D)# #Please note, that tax laws may change from time to time. Consult your tax advisor for determining the Tax benefits applicable to you.
Flexibility to choose premium payment term and policy term of one’s choice With Guaranteed Income Plan you may choose a premium payment term and policy term basis your needs and goals. 3
Enjoy guaranteed benefit irrespective of market conditions After paying your premiums, you will receive guaranteed benefits basis the plan option you have selected. The benefits are guaranteed irrespective of market conditions. They are expressed as a percentage of your premiums (excluding applicable taxes) and depend on age at entry of the life insured and premium amount. This is explained in further detail under ‘How the Plan Works’ sections. 4
Choose to receive your benefits as a lump sum or as regular income basis your need. • • If you have chosen the Endowment option at inception, you will receive a lump sum payout at the end of policy term or; If you have chosen the Income option you will receive regular income every year from the end of 6 th year till end of the 10 th year. 5
Get tax benefits of Sec 80 C and Sec 10(10 D)# • Get tax benefits of Sec 80 C and Sec 10(10 D) • Tax benefits may be available u/s 80 C for the premiums paid for the base plan, and u/s 10(10 D) for the amount received as death/surrender/maturity /survival benefits under the policy. • Tax Benefits 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. . 6
Eligibility Age at entry of life insured (last birthday) Age at maturity of the life insured (last birthday) Min$ 8 years for Endowment Option; 13 years for Income Option Max 50 years Max PT Maturity Age 10 60 years 15 Min Rs. 15, 000 PPT/PT 5/10 Premium (In multiples of 5, 000) 10/10 10/15 Premium Payment Term/Policy Term Fixed 65 Years Income Option PPT 5 years# Endowment Option PPT 5 years# Premium 1, 000 incl taxes 75, 000 + taxes as applicable 60, 000 + taxes as applicable PT 10 years# 10 years # $Policies on lives of minors can be taken only by parents 10 years/# grand-parents 15 /years legal guardian #The Premium. Frequency Premium Payment Term is different from Policy Term. Yearly (Mode) 7
For any product related queries, please write to ask. product@idbifederal. com Thank You • • • This document is a training material solely used for the purpose of internal training of the employees, agents and representatives of IDBI Federal Life Insurance Company Limited. This document is not meant for sales and should not be circulated amongst the public for the purpose of solicitation of the insurance business. Strictly for internal circulation only. 8
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