Mumbai: Private insurer IDBI Federal Life Insurance has launched Wealthsurance Premier Insurance Plan for High Net-worth Individuals.
Announcing the launch of Wealthsurance Premier, Mr. G V Nageswara Rao, MD and CEO of IDBI Federal Life Insurance, said: “With Wealthsurance Premier, we have customized 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 across the risk-return continuum for active wealth management.”
IDBI Federal Wealthsurance Premier Insurance Plan is a single premium ULIP for meeting the requirements of the HNI class. The plan comes with a minimum investment option of Rs. 5 lakh and top-ups at Rs. 10,000. The company says that it will not charge any policy administration and allocation charges for premiums above Rs. 25 lakh. The minimum policy term is for 5 years and maximum of 75 years.
The company offers four options. Under its first option it claims to provide assured returns. The other three options are dynamic guaranteed options, market fund options and asset allocator options.