Introduction/Overview Wealthsurance Future Star Insurance Plan is a Unit Linked child plan developed for the benefit of the childs future. Under the plan, the policyholder can build a strong fund to take care of his childs future requirements Key Features It is a unit linked plan with regular or limited premium payment option Guaranteed Loyalty Additions increase the value of investments The following 9 funds are available for investment: Equity Growth Fund Midcap Fund Pure Fund Bond Fund Income Fund Liquid Fund Aggressive Asset Allocator Fund Moderate Asset Allocator Fund Cautious Asset Allocator Fund The policyholder may choose to invest in any of the fund himself or choose the Systematic Allocator Option Under this option, the insurer manages the fund from low aggressive funds to high aggressive funds with increasing policy term Wealth Care Switcher Benefit and Education Support Benefit ensure the safety of funds.
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Policyholder has to fill up an `Application form/ proposal form with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person. New Delhi Marathon to be sponsored by IDBI Federal Life Insurance 8 Day Claim Settlement Guarantee by IDBI Federal Seven New Plans by IDBI Federal Life Insurance
The insured will get the total Fund Value on Maturity The policyholder may exercise the Settlement Option and can avail the Maturity Fund Value in instalments over a period of 5 years post maturity Guaranteed Loyalty Additions @ 3% of the average Fund Value over the last 3 years is paid form the end of the 10th policy year and every 5 years thereafter On death of the policyholder, the Sum Assured is paid immediately. The future premiums are waived off and the total future premiums payable are credited to the Fund Account immediately which continues to grow as per the market experience Wealth Care Switcher Benefit activates the Systematic Allocator option if the policyholder dies Under the Education Support Benefit, the death benefit is paid out in instalments over the last 5 policy years Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
Details About Premium Illustration for a policy term of 10 years and PPT 10 years Policy Details Grace Period: grace period of 30 days is provided for payment of premium Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions Partial Withdrawals are allowed after 5 policy years with a minimum amount of Rs.10, 000 and a maximum of 20% of the Fund Value Unlimited free Switches are allowed to change between funds chosen Premium redirection facility to redirect future premiums Exclusions The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.
