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Term Insurance 3158 views November 22, 2019
IDBI Federal term plan is considered to be one of the best term insurance plans in India. The company is one of the fastest-growing life insurance companies in India. It has many types of life covers on offer, including the excellent term insurance covers.
Table of Contents
With so many term insurance plans available in the country, you may wonder why one should choose the IDBI Federal term plan. Here are some reasons why you should consider it:
Many Plans Available
Everyone looks for options when they go shopping, be it for a television or life insurance! It is, therefore, good to find an insurer that offers a wide variety of life insurance products one is looking to buy. When buying the term life insurance cover from IDBI Federal, the customer gets many options as its term plans are many.
Quotes are Low
The company has worked well to keep the prices of the term insurance plans as low as possible. This makes it easy for people from all walks of life to buy term insurance. Life insurance is an essential requirement these days and the availability of a good term plan at a low rate makes it highly beneficial for everyone.
The Insurer is Helpful
As an insurance provider, IDBI Federal is very helpful. They have a well-trained and efficient customer support team. The executives are polite and help solve all your queries easily and quickly. This makes it simple for you to own and continue an IDBI Federal term plan.
Digital Access is Available
IDBI Federal has a very modern website and mobile app. You can buy the different types of online term insurance plans with the click of a few buttons. You do not need to make trips to the insurer’s office. Just sit at home comfortably and buy term insurance digitally.
The Claim Process is Simple
The purpose of buying term insurance is providing financial security for your family if you die. You, therefore, need to assure the finances will reach them once you are gone. The IDBI Federal term plan claim process is simple and hassle-free. This makes it very easy for your nominees to get the death benefit when needed.
You are Offered a Free Look Period
And last but not least, the insurer offers you a free look period when you buy the plan. If you are dissatisfied with the plan within the period, you can surrender it and get your money back.
Enjoy these handy benefits when you buy your term life insurance cover from IDBI Federal Life Insurance.
As mentioned above, the IDBI Federal term plan is available online. Some of the good options to explore include:
If you are looking for the best term insurance policy in India, you may choose from these options and find a great life cover with ease.
As already discussed, the IDBI Federal term plan is very good. However, there are multiple options available and to know which is the best term insurance cover for you, you need to follow these steps:
It actually is very simple to find term life insurance covers these days. Thankfully, the top life insurance companies in India like IDBI Federal have some great plans on offer. Find the one that is most suitable for you and stay covered.
Paying the premium on time and without fail proves critical to the successful release of the sum assured to your family members upon your death during the policy term. You can pay the premium online, at any of its branches, through auto debit and common service centre outlet. Let’s check the process of premium payment through these modes.
You can pay the premium even by issuing a cheque or demand draft in favour of Ageas Federal Life Insurance Company at the branch. Payments can be made via debit card, credit card or cash.
You can pay even through any Common Service Centre Outlets located across different cities in India.
IDBI Federal Term Insurance Claim is a three-pronged process. Nominees of the life assured will first need to register a claim by filling the Claim Form, which can be downloaded from the website of IDBI Federal Life Insurance. Fill the details sought in the form and attach the following documents to support the claim.
IDBI Federal Life Insurance will settle the claim within eight working days if documents and other details are correct. In case the company wants to undertake further investigation, it will do so in due course of time.
Once approved, the life insurer will credit the claim amount to the bank account of the nominee. It can even issue a cheque and send it to the address of the nominee.
Conclusion
As you can clearly see from the points mentioned above, the features of the IDBI Federal term plan are quite good. This ensures you get a wholesome and adequate term life insurance coverage when you buy a term insurance policy from this insurance company. IDBI Federal also helps you as they have a very good customer support team. You can have a great term cover and also get all your doubts cleared as and when needed.