Low Claim-Settlement ratio. Review on IDBI Federal Life Insurance

Good Evening Everyone. Today I am going to tell you about IDBI Federal Life Insurance Company Limited.

If you are looking for a term plan so must read my review on this company. In this the plan name is " IDBI Federal iSurance Online Term Insurance Plan". Lets discuss in an example, if a 30 year old healthy male person, non-tobacco user choosen the Sum Assured of 1 Crore Rs.takes this plan for the policy term of 20 years, so it comes at an investment of Rs.15/day(exclusive of all taxes).

Here only you will get 1 point, why not to go with " IDBI Federal Life Insurance" because in another company they were giving policy term of 30years in the above example which I had explained.Minimum entry age is 18 years for every one. There is no maturity benefit in this plan.Second thing, here the maximum policy term is 25 years, which is very less according to other companies, they were giving you almost 40-45 years of policy term. And here you will be getting only 1 benefit which is death benefit in the normal plan, if you want you can take additional Accidental death benefit by paying extra premium for that. In other companies you will be getting almost 2-3 benefits free of charge in the normal plan i.e Death benefit+ Terminal illness+ Waiver of premium on permanent disability.And extra riders also available in that like Critical illness, etc. The main important thing is the claim settlement ratio of this company is very low as compared to other company in the market.The claim settlement ratio of IDBI Federal Life Insurance is 84.79%. So, overall If you are looking for a good plan so go with another company and collect correct information and go with that.

Thank You.