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IDBI Federal launches a plan with double life cover and no medicals
IDBI Federal Life Insurance, a pioneer in product innovations in the life insurance sector, announced the launch of IDBI Federal Lifesurance® Suvidha Savings Insurance Plan. The name Suvidha, aptly connotes the convenience of affordable premiums.
By: IDBI Federal Life Insurance
Announcing the launch of the plan, Mr. G V Nageswara Rao, MD & CEO of IDBI Federal Life Insurance said, “According to studies, over 23% people reject life insurance as they find the products complex or its process difficult, and another 56% people feel life insurance is too expensive. Lifesurance®
Highlighting the benefits of the plan, Mr. Aneesh Khanna, Head Marketing and Product Management, IDBI Federal Life Insurance said, “This hassle-free plan is designed to provide a life cover of up to Rs. 3 lakhs till the age of 65 years with guaranteed additions, plus bonuses that may accrue during the policy term. The plan also insures customers against accidental death during the policy term.”
The plan provides tax benefits u/s 80C for the premiums paid up to a limit of Rs. 1,00,000 per year, and u/s 10(10D) for the amount received as death/surrender/