Money & Banking

IDBI Federal Life's new plan for high net worth customers

| Updated on: Mar 28, 2011

With an aim to target high net worth individuals (HNIs), IDBI Federal Life Insurance announced on Monday the launch of ‘Wealthsurance Premier Insurance Plan'.

The new product is a single premium ULIP, which provides a wide array of investment funds and protection benefits bundled in a low charge structure.

Mr G V Nageswara Rao, MD and CEO of IDBI Federal, said: “Wealthsurance Premier is a combination of a wealth and protection plan that assists customers in wealth creation and management in the long term. We have customised the product to suit the HNIs by making it a single premium plan that allows one to build wealth for the long term in tranches, with the flexibility of 13 varied investment fund options.”

The policy can also insure HNI's wealth plan against death, 13 accidental injuries, 17 major diseases and serious illnesses requiring hospitalisation or disablement. The minimum investment option is of Rs five lakh and top-ups are at Rs 10,000. There is no policy administration and allocation charges for premiums above Rs 25 lakh. The minimum policy term is for five years and maximum of 75 years less the age of entry.

Published on March 28, 2011

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