IncomeSurance Guaranteed Money Back Insurance Plan 7 Pay

IDBI Federal Incomesurance Guaranteed Money Back Insurance Plan 7 pay (hereinafter referred as Incomesurance 7 pay) is a plan that enables you to stop being concerned of the future and rest assured, since the plan gives you payouts annually. And yes, it’s guaranteed

Key Features

  • You can decide your annual premium amount basis the Guaranteed Annual Payouts desired, and the quantum of financial protection you want for your family.
  • You get a life cover for the complete policy term of 14 years. In the unfortunate case of an eventuality during this period, your family will get a lump sum amount regardless of any guaranteed annual payouts or Critical Illness Benefit received earlier
  • In an era of growing health concerns and uncertainties, this benefit offers you a financial cushion against a pre-defined list of illnesses
  • You get Guaranteed Annual Payouts ranging from 126.66% to 143.23% of your annual premium irrespective of market conditions.


  • Maturity Benefit
There is no Guaranteed Sum Assured payable on maturity. The last GAP will be made on survival to maturity.
  • Death Benefit
This benefit is paid in the unfortunate scenario of death of the life insured at any time during the policy term of 13 years. Provided, this benefit will be payable only if the policy is in force. The death sum assured paid out to the beneficiary would be the highest of:
  • Guaranteed Sum Assured on maturity
  • 10 times of annualised premium 105% of all premiums paid (including extra premiums and modal loading)
  • Basic Sum Assured (An absolute amount of 10 times premium, including extra premiums and modal loading)
  • Sum of all Guaranteed Annual Payouts (GAP)
  • 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?

ENTRY AGE 10 years 50 years
MATURITY AGE 24 years 64 years
POLICY TERM 14 years
Premium Payment Frequency Annual

What if?

I am to unable to pay premium

  • Grace period of 30 days will be provided and you should pay the premium with in the specified time period.

I want to take a loan

  • Such option is available under this policy