IDBI Federal Life launches new plan

MUMBAI: Private insurer IDBI Federal Life launched a plan that offers "attractive guaranteed" return along with tax benefits for those willing to invest for a short to medium term.

"IDBI Federal Bondsurance Plan is specially crafted for those seeking a one-time lump sum investment that delivers attractive tax-free guaranteed returns along with the promise of life insurance protection," the company's Managing Director and CEO, G V Nageswara Rao, said in a release here.

Under the scheme, the premium is as low as Rs 20,000. Other benefits include simple buying process, discount on single premium in case the guaranteed maturity benefit is equal to or greater than Rs 1,50,000 and liquidity before maturity through special surrender value after the first year, the release said.