WealthSurance SP

The IDBI Federal Wealthsurance SP is a single premium unit-linked insurance plan. A one-time investment plan, whereby paying the premium once, you allow your investment to enjoy returns of the selected funds. The plan also offers you life cover providing your loved ones with financial protection in case of any eventuality. In a nutshell, it is a smart investment plan that helps you maximise the potential of your windfall, rather than let it sit idle.

Key Features

  • You pay premium just once and enjoy returns of the selected funds! If you find regular premium payments a hassle, Wealthsurance SP is the plan for you. What’s more, this plan never lapses!
  • IDBI Federal Investment Basket gives you the choice of 9 funds to invest in based on your risk profile and return expectations. In case you manage your funds on your own, you can switch your investment between funds, without any charges
  • Guaranteed loyalty additions to boost your investment
  • In case of an unfortunate event of your demise, your nominee will get the death benefit which is the higher of the sum assured or the fund value at that time. The death benefit will always be at least 105% of the single premium paid.

Benefits

  • Maturity Benefit
Maturity benefit is equal to the fund value in your investment account on the date of maturity. Upon payment of the maturity benefit, your Wealthsurance plan is terminated.
  • Death Benefit
Death benefit is paid to the beneficiary (nominee/ legal heir) in the event of death of the insured person due to any cause, natural or accidental. Death benefit paid is the higher of the following amounts:
  • Sum assured or
  • Fund value in your investment account or
  • 105% of the total premiums paid till date
  • Tax benefit
Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant. Service Tax & Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 1 month 70 years
AGE OF MATURITY 18 years 75 years
SUM ASSURED Basic sum assured
For ages at entry below 45 years
• 1.25 times the single premium.
For ages at entry of 45 years and above
• 1.10 times the single premium
 For age at maturity up to 48 years
• 10 times single premium
For age at maturity greater than 48
• Age at entry less than 45: 1.25 times single premium
• Age at entry equal or greater than 45 : 1.10 times single premium
POLICY TERM 5 years 25 years
PREMIUM PAYMENT TERM Single premium
Premium Payment Frequency SINGLE TIME

What if?

I am to unable to pay premium

  • Premium is paid for a single time

I want to take a loan

  • No Such option is available under this policy