Ageas Federal Life Insurance Young Star Plus Plan

Eligibility Criteria for the Ageas Federal Young Star Plus Plan

The Limited Pay option means the premium paying term is 5 years less than the policy term. Regular Pay means the premium paying term equals the policy term.

Features of the Ageas Federal Life Insurance Young Star Plus Plan

The Ageas Federal Life Child Insurance Plans are structured to provide long-term income along with life insurance protection. Key features include:

• Assured Payouts: Guaranteed Annual Payouts total 125% of the Maturity Sum Assured, paid in the last 3 or 5 policy years, depending on the term chosen.
• Guaranteed Additions: Ranging from 5% to 10% of the Maturity Sum Assured accrue every five years from the 5th policy year, based on policy term.
• Choice of Policy and Premium Terms: Choice of Policy and Premium Terms: You can choose between 12, 15, or 20 years of policy terms and regular or limited premium payments.
• Bonuses: Simple Reversionary, Interim, and Terminal Bonuses (where applicable) participation.
• MWP Act option: The Married Women's Property Act allows you to endorse the policy to establish legally protected funds for the beneficiaries.

Guaranteed Additions accumulate as follows:

Guaranteed Additions are payable at maturity, provided all due premiums are paid.

Benefits of the Ageas Federal Life Insurance Young Star Plus Plan

The following are the benefits of the Ageas Federal Life Insurance Young Star Plus Plan:

1. Maturity Benefit

   If the person assured with Ageas Federal Life Investment Plans survives the policy term and all due premiums are paid, the maturity benefit consists of:

   • Last Guaranteed Annual Payout
   • Vested Guaranteed Additions
   • Vested Simple Reversionary Bonuses (if any)
   • Interim Bonus (if any)
   • Terminal Bonus (if any)

   The final payout completes the 125% Guaranteed Annual Payout structure. After payment, the policy terminates.

2. Guaranteed Annual Payout Structure

   For a 12-year policy term:

   • 25% of the Maturity Sum Assured is paid 2 years before maturity
   • 25% paid 1 year before maturity
   • 75% paid on maturity date

   For 15 and 20-year policy terms:

   • 25% of the Maturity Sum Assured has been paid annually in the last 5 years
   • Last payout forms part of the maturity benefit

   Guaranteed Annual Payouts already paid are not deducted from the death benefit.

3. Death Benefit

   In case of death during the policy term, provided the policy is in force:

   Death Benefit includes:

   • Death Sum Assured (highest of):
   • 10 times Annualized Premium
   • 105% of Total Premiums Paid
   • Maturity Sum Assured
   • Plus future Guaranteed Annual Payouts
   • Plus Vested Simple Reversionary and Terminal Bonuses (if any)
   • Plus Vested Guaranteed Additions

No future premiums are payable after death. The policy continues with planned benefits.

Policy Details of the Young Star Plus Plan

If you are looking for the best investment plans for higher returns, the Ageas Federal Life Insurance Young Star Plus plan offers several benefits and returns under policy details:

1. Grace Period

   • 30 days for Annual and Half-Yearly mode
   • 15 days for the Monthly mode

2. Surrender

   The policy acquires surrender value after completion of one full policy year.Surrender Value = Higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).

3. Loan

   • Available after the policy acquires surrender value
   • Minimum ₹5,000
   • Maximum 85% of Guaranteed Surrender Value
   • Current interest rate: 9.20% p.a. (as of 1 August 2024)
   • Compounded quarterly

4. Revival

   Policy can be revived within 5 consecutive years from the due date of the first unpaid premium, subject to underwriting and payment of arrears with applicable interest.

Exclusions Under the Young Star Plus Plan

Suicide Exclusion

If death occurs due to suicide within 12 months from the commencement of the risk or revival.

The nominee is entitled to 80% of total premiums paid or surrender value available, whichever is higher, provided the policy is in force.