Mumbai, April , 2019: IDBI Federal Life Insurance, India’s trusted private life insurance company, today announced the launch of ‘IDBI Federal Life Insurance Young Star Advantage Plan’,anideal plan designed to help the policy holdersecure 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 policyand are payable at the time of maturity.
IDBI Federal Life Insurance launches–‘Young Star Advantage Plan’
The payout benefits in the form of Guaranteed Annual Payoutsare 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 tothe policy holder’s family immediately to fulfiltheir 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 continuingeven in case of the unfortunate death of the policy holder.”