IDBI Federal Life Insurance: All You Need to Know

IDBI Federal Life Insurance Co Ltd. is a three way joint-venture of IDBI Bank, an Indian development and commercial bank; Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe.

The IDBI Life Insurance distributes its products through a multi-channel network consisting of Insurance agentsBanc assurance partners (IDBI Bank, Federal Bank) Direct channel, and Insurance Brokers. The company’s innovation and growth strategy helped it scale great heights in the country only in 5 years within its commencement in 2008.

Understanding the diverse needs of individuals, IDBI Federal offers a wide array of life insurance policies which have been designed specially to meetl a diverse range of insurance and financial goals like retirement planning, planning for your child’s future, maximizing your savings. It also offers group insurance plans which can allow employers to offer insurance cover to their employees and also help them build wealth.

 

The IDBI Life Insurance Login is a simplified process either to register as a new user or continue with your transactions as a registered user.

  • Visit the official IDBI Life website, https://www.idbifederal.com/
  • Login by entering your user id and password, if you are a registered user.
  • If you are a new user, click on the new user icon within then page to register and then log in

Customers can check their IDBI Federal Life Insurance policy Status through these simple steps;

  • Visit the official IDBI Life Insurance web-link, https://www.idbifederal.com/
  • Enter the basic policy details as requested like policy number and date of
  • Click on the option ‘Submit’ to know your Bharati AXA Life policy status.

 

The IDBI Life Insurance gives lot of prominence to customer care and is committed to provide the best services. With this focus, the IDBI Life insurance has established a dedicated system of providing customer support to all their policyholders. In addition to providing a bouquet of life insurance policies, IDBI Life offers stellar customer support service via their toll free helpline number, 1800 209 0502.

The IDBI Federal Life Insurance Policy holders need not worry about missing a premium payment as they can make premium payments online. With the payments being online, the payment is instant, which would reduce the processing time in case of last-minute payments.

The process to pay premiums online is given below:

  • Go to the IDBI Life Insurance website, https://www.idbifederal.com/
  • Enter the basic policy details as requested
  • Choose the mode of payment, ( for e.g. net banking, credit card or debit card)
  • Enter the authentication details to confirm your premium payment.

The IDBI Life Insurance Policy Holders can check the amount they would have to pay towards premium payments for a particular policy through the IDBI Life Insurance Online premium calculator. The premium calculator, available on the company’s website, https://www.idbifederal.com/ will compute the premium amount for any of the company’s existing plans based on certain information the individual provides such as age, gender, policy number, policy tenure, occupation, cover type etc.

To be eligible for an IDBI Federal Life Insurance policy, the applicant should be,

  • Minimum 18 years of age
  • Maximum 55 years of age
  • Must be either a salaried or a self-employed professional
  • Having an own business.

The applicant should support his IDBI Federal Life Insurance application with the following supportive documentations.

  • Identity Proof
  • Age Proof
  • Income Proof
  • Address Proof
  • Pan Number

Why Choose IDBI Federal Life Insurance

  • The IDBI Federal Life Insurance Company continues to have a unique distinction of 100% success in addressing grievances of customers. The IDBI Life insurance also has a claim settlement ration of over 90% consistently. With its wide range of products covering all sectors including development, the IDBI Life insurance stays as the go to insurance provider. The IDBI Life Insurance offers Tax benefits under 80(C ) and 10(10D) of the Income Tax Act, 1961 and rebates on high sum assured.

IDBI Life Insurance Insurance FAQ’s:

Q. What are the documents that are to be submitted while taking IDBI Life insurance?

A. You will have to submit your identify proof, age proof, address proof, income proof and PAN card while applying for the Life insurance products.

Q. How do I know the status of my IDBI Federal Life Insurance application?

A. To know the status of your application, visit the IDBI Federal website. You will have to fill in the application number in the Track your application section to know your status.

Q. What happens if I miss the premium payment?

A. If you miss the premium payment, your plan will lapse and you will have to revive it within 2 years from the day of lapse.

Q. What is the process to make the claim?

A. The claim must be reported at the earliest and you can refer the following link to avail the death benefit claim form their official website.

Q. What happens if I have lost the original policy document at the time of making a claim?

A. If the original policy document is lost or misplaced, you will be asked to submit some alternate documents and the claim will be processed.

Q. Can I surrender the IDBI Federal Life Insurance policy at any time?

Yes, you can surrender the policy after the completion of the lock-in period