Sunday, 16 January 2011

Incomesurance Endowment & Money Back Plan

IDBI Federal life Insurance Co. Ltd is a joint venture of IDBI Bank, Federal Bank and Fortis Insurance International. Earlier the name was IDBI Fortis Life Insurance and recently (August 2010) it was changed to IDBI Federal life Insurance Co. Ltd. Their insurance plans are Wealthsurance, Retiresurance, Incomesurance and Termsurance. IDBI Federal Incomesurance™ Endowment and Money Back Plan is one of their endowment insurance plans with money back facility. This assures guaranteed returns at the existing interest rates.

This insurance plan created with a foresight of meeting all your financial needs with a tailor made facility. This plan declares in advance an additional guaranteed income on every premium paid.

In the words of IDBI Fortis Life Insurance Managing Director and CEO, Nageswara Rao,
"Incomesurance is designed to give a guaranteed income to our customers for their child's education, planning for daughter's marriage, providing financial security and ensuring comfortable retirement income,"

This plan allows the customer to get a lump sum endowment or annual money back as per the options of the customer. The Premium allows you to get tax exemption under section 80C and the income received from the scheme is also exempted under section 10 (10D) of income tax rule and the insurer get death benefit also.

This plan is complete transparent and the insurer can choose Premium Payment Period, Payout Period, Payout Options, etc. The premium payment period can be opted as 5 years, 10 years or 15 years etc and is allowed to pay monthly, quarterly, half-yearly or yearly intervals.

One can take annual payouts or the accumulated interest can be withdrawn with maturity as per the requirements of the insurer. If the death of the insurer occurs the nominee can withdraw the money in lump sum or can receive periodical payouts.

The best thing of this Endowment Money back plan is that you can customize your plan based on your individual and family’s future financial needs.

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6 comments :

  1. Last day i search on the internet for how to live happy in your old age. I found a site.

    ReplyDelete
  2. please call me and give me knowledge about idbi money back plloicy

    ReplyDelete
  3. please tell me about income insurance plan

    ReplyDelete
  4. A. Ignatius Nathan - Cochin11 May 2011 at 21:25

    Its a nice policy with Life insurance cover and a money back now we a good income even in old age to have peaceful rest thanks to IDBI & Federal bank

    ReplyDelete
  5. [...] offer the growth opportunity as a Unit Linked Insurance Plan (ULIP). The … Continue reading ? Incomesurance – An Endowment and Money Back Plan from IDBI Fortis Life Insurance IDBI Federal life Insurance Co. Ltd is a joint venture of IDBI Bank, Federal Bank and Fortis [...]

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  6. syed sajid hussain razvi3 September 2011 at 02:22

    pls give me some details about incomeassrance plans

    ReplyDelete