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Term Insurance 422 views August 12, 2021
IDBI Federal Termsurance Sampoorn Suraksha Micro Insurance Plan is a non-participating term insurance policy that provides financial security to the family of the deceased person. The plan offers you the option to pay the premium in single and regular payments. You’ll also get an inbuilt Accidental Death Benefit under the policy. Let’s know more about the IDBI Federal Termsurance Sampoorn Suraksha Micro Insurance Plan benefits on this page below.
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You’ll get the following benefits under the IDBI Federal Termsurance Sampoorn Suraksha Micro Insurance Plan.
In case of death during the policy term, the insurer shall pay the highest of the following to the nominee.
In case of death due to an accident, the insurer shall pay an additional amount equal to the sum assured to the nominee. For the payout, it is important that Accidental Death happens within 180 days of any bodily injury. The company will not be liable to pay the additional sum if the death occurs due to the following:
You need to meet the following age criteria to purchase IDBI Federal Termsurance Sampoorn Suraksha Micro Insurance Plan
IDBI Federal Termsurance Sampoorn Suraksha Micro Insurance Plan policy terms are 5 and 10 years. Premium payment frequency is single and regular pay and the premium payment mode is annual for regular pay. The minimum premium amount is
Whereas, the maximum premium amount is INR 5,200. The sum assured is a minimum INR 5,000 and a maximum INR 50,000
The company will pay 80% of the paid premiums to the nominee if you commit suicide within 12 months from the date of commencement of the policy or revival.
You’ll get a free look period of 15 days from the date of receipt of the document to review the terms and conditions of the policy. In case you are not satisfied with the terms and conditions, cancel the policy within the free look period by sending the original policy document along with a request letter stating the reasons for your cancellation. On cancellation, the insurer will refund the paid premium after deducting a proportionate risk premium for the period on cover and stamp duty charges.