Mumbai: IDBI Federal Life Insurance, India’s trusted private life insurance company, today announced the launch of ‘IDBI Federal Life Insurance Young Star Advantage Plan’, an ideal plan designed to help the policy holder secure their child’s dreams and ensure that his or her future financial needs are fulfilled even in the case of the unfortunate absence of the breadwinner. The plan gives guaranteed annual payouts to aid the crucial milestones of a child’s life.
An interesting feature of the IDBI Federal Life Insurance Young Star Advantage Plan is that it comes with Guaranteed Additions. Guaranteed Additions are accrued to the policy and are payable at the time of maturity.
The payout benefits in the form of Guaranteed Annual Payouts are payable at the end of every year, in the last 3 or last 5 years of the policy, depending on the policy term that you choose. In case of the unfortunate death of the policy holder, the death benefit will be provided to the policy holder’s family immediately to fulfil their needs. Further, no future premiums will be payable and the policy will continue with all planned benefits. The Guaranteed Annual Payouts and eligible bonuses will be paid out to the nominee on the scheduled dates.
Commenting on the launch, Mr. Karthik Raman, CMO and Head – Products, IDBI Federal Life Insurance said, “We are happy to introduce the IDBI Federal Life Insurance Young Star Advantage Plan. In today’s fast-paced life where the cost and expenses of raising a child are on the rise, people want to secure their child’s future in the best possible manner and also ensure that there is adequate life cover so that the dreams of the family members are never compromised. The plan will financially secure the child’s future by continuing even in case of the unfortunate death of the policy holder.”