New Delhi: Indian private sector life insurer IDBI Federal Life Insurance Co Monday introduced its first online product -- IDBI Federal Termsurance -- for people between the age group of 50 years and 85 years.
Eligible individuals can purchase the product without going through any medical tests, submitting medical reports or answering any health questions, the insurer said in a statement.
"Almost 10 million users search for life insurance plans on the Internet. The interactive online platform enables them to research the plan, calculate premium amounts and make online payments directly to the company to receive the insurance policy in the comfort of their homes," G V Nageswara Rao, managing director and chief executive officer of IDBI Federal Life Insurance, said in the statement.
Earlier in March, IDBI Federal Life Insurance had also introduced a life-cum-investment policy titled 'Bondsurance Plan'.
Founded in March 2008, IDBI Federal Life Insurance is a three-way joint venture between Indian public sector lender IDBI Bank, private sector lender Federal Bank and European insurer Ageas.
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