mumbai in keeping with the trend of life insurers fortifying their traditional portfolio further idbi federal life insurance has recently launched an endowment plan lifeinsurance suvidha it is being promoted as a product that ensures simple purchase procedure and documentation features the product offers life cover of up to rs 3 lakh along with an accidental death cover equivalent to the sum assured policyholders are not required to undergo any medical tests prior to buying the policy it promises guaranteed additions of rs 50 per 1000 sum insured for the initial three policy years from the fourth policy year onwards reversionary bonuses kick in while terminal bonus will come into the picture in the event of the life assureds death or upon maturity the premium paying term ranges from 1020 years while the policy tenure is between 15 to 25 years you can choose from a premiumpolicyterm combination of 1015 years 1218 years 1520 years 1521 years and 2025 years why go for it you can consider this plan if you prefer traditional endowment plans and are looking to boost your existing life cover why not the primary objective of buying a life insurance policy is financially securing your dependants interests but in this case the maximum cover offered including accidental death is just rs 6 lakh which may not be adequate