IDBI Fortis Life Insurance on Friday launched a new insurance plan, the Termsurance TM Protection Plan. A simple term insurance plan, it comes with 3 different life insurance cover options to suit the protection needs of different customers, including an innovative `increasing risk cover` option designed to help beat inflation.
It allows the policy holder to customize their plan as per individual and family needs and comes with a host of benefits like convenient insurance cover options, flexible premium payment terms, choice of policy term and lots more flexible options. Following are the multiple cover options.
A. Level cover –
· Large insurance cover with low premium amount
· Sum insured remains constant for policy period
· Zero maturity benefits
B. Increasing Cover –
· Increase sum insured every year by specific amount
· Get advantage of low premiums by entering at lower age
· Zero maturity benefits
C. Level Cover with return of premium
· Insurance cover with level sum insured for the policy term
· Lump sum benefits for family in case of demise
· Return of premium on survival to maturity.