- To achieve different milestones of life with full confidence
- Insured Wealth Plan with 13 Investment options and 7 Insurance options
The Wealthsurance™ Milestone Plan offers a wide range of Investment options, Insurance options and unmatched flexibility that allows customers to customize a plan suited to their needs. Customers can plan for milestones like completion of school education by a child, a marriage, acquisition of a new house or any other goal. This Plan comes with a wide range of 13 investment options and 7 insurance benefits - all packaged with a low charge structure and unmatched flexibility.
Announcing the launch, Mr G V Nageswara Rao, MD & CEO of IDBI Federal Life Insurance said: “Everyone wants to create wealth, but wealth creation does not happen by chance or accident. It needs a Plan. Wealthsurance™ Milestone Plan offers such a plan, which is very flexible and can be customised to an individual’s needs. The beauty of the Plan is that it can be insured not only against risk of death but against 17 major diseases, hospitalisation, disability, accidental injuries etc so that you can feel confident that your financial goals can be reached despite the surprises life may throw up.”
Wealthsurance™ Milestone Plan offers a comprehensive suite of investment options which are designed to meet the needs of every customer depending upon his or her risk appetite. Conservative customers can choose guaranteed return options which offer fixed, assured returns. Those who can take more risk can opt for capital protected options where the entry NAV is guaranteed and returns depend upon the market. Customers who would like to get potential high returns of equity markets in the long-term and understand the risk can opt for market linked equity options. Wealthsurance™ Milestone Plan offers a unique investment options called Asset Allocator Funds, where the company’s fund managers invest in equity or debt depending upon market conditions. This is a very useful option for customers who do not have the time or expertise to monitor equity market and shift into debt or equity based on market conditions.
IDBI Federal Wealthsurance™ Milestone Plan not only allows its policyholder to invest according to their changing risk appetite; it also provides a host of insurance benefits to protect them against uncertainties, so that they don’t have to break their investment to meet sudden financial demands and their money can keep compounding. The insurance benefits offered by the Plan include Major Diseases Benefit in which lump-sum cash amount upto Rs. 20 lakhs is paid upon diagnosis of any of 17 specified major diseases. These include heart attack, coronary bypass surgery, cancer, stroke, paralysis, coma, brain tumor, renal failure, major organ transplant etc. Another benefit is Hospital Cash Benefit in which daily cash benefit upto a maximum of Rs. 5000 per day will be paid for each day of hospitalisation, irrespective of the amount actually spent. The claim process is simple since no bills have to be submitted but only proof of hospitalisation. Other benefits offered include accidental death and disablement benefit and waiver of all future premiums upon death or disablement.
“The Plan comes with attractive tax benefits. Premium contributions are eligible for tax deduction under Sec 80C. All benefits under the Plan are tax-free under Sec 10(10D),” Mr. Rao added
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