Ageas Federal Life Advantage Plus Plan

Eligibility Criteria for the Ageas Federal Life Advantage Plus Plan

Features of the Ageas Federal Life Advantage Plus Plan

Some of the key features of the Ageas Federal Life Advantage Plus Plan include: 

1.  Maturity Boosters to Enhance Savings

   The Ageas Federal Life Advantage Plus Plan provides maturity boosters that help increase your savings at the end of the policy term.

2.  Bonus Declaration for Growth

   Bonuses may be declared from time to time, which helps in growing your overall savings and building a better corpus. These bonuses are calculated as a percentage of the Maturity Sum Assured and become part of the overall benefits once vested.

3.  Customizable Policy and Premium Terms

   This plan lets you choose the policy term and premium payment term based on what suits your financial situation.

4.  Life Cover for Family Protection

   The plan includes life insurance that provides financial protection to your family during the policy period.

5.  Eligibility for Tax Benefits

   With this plan, premiums paid and benefits received may be eligible for tax benefits as per applicable tax laws.

Benefits of the Ageas Federal Life Advantage Plus Plan

Being one of the best investment plans for high returns, the Ageas Federal Life Advantage Plus Plan comes with the following key benefits:

• Maturity Benefit: Maturity boosters:
  • Start from the 5th policy year,
  • Continue till the end of the Premium Paying Term (PPT),
  • Paid only if all due premiums are paid,
  • Become part of the benefits once vested.
• Death Benefit: In case of the death of the insured person while the policy is in effect, the nominee will be the recipient of the sum assured on death in accordance with the policy conditions. The death benefit is higher of:
  • Death Sum Assured + Vested Maturity Boosters + Vested SRB + Interim Bonus + Terminal Bonus, 
  • 105% of Total Premiums Paid
• Disciplined Savings: The guaranteed maturity boosters assist in increasing the total value of the policy in the long term.
• Tax Benefits: The benefits received, and the premiums paid, can be subject to tax benefits under the rules that exist on the appropriate income tax benefits, as it is applicable.

Policy Details of the Ageas Federal Life Advantage Plus Plan

Here are the policy details to look for to make better decisions when selecting a guaranteed return plan for long-term financial security:

• Grace Period: The company also offers a grace period to customers who fail to pay their premiums within the due date that enabling them to pay their premiums until the end of their benefits.
• Revival: Your policy can be revived after lapsing due to non-payment, provided that all outstanding premiums are paid within the period of revival.
• Free Look Period: Once you receive your policy document, you are granted a 15-day free-look period to review its terms and conditions. For policies purchased through distance marketing channels, this review period extends to 30 days, allowing you additional time to examine the policy details carefully before making a final decision.
• Surrender: You can surrender the policy after paying the required minimum premiums. The surrender value will be paid as per policy conditions.
• Loan: Once the policy acquires surrender value, you may be eligible to take a loan against it, subject to terms and conditions.

Exclusions Under the Ageas Federal Life Advantage Plus Plan

• Suicidal Cover: If the person dies due to suicide within 12 months from policy commencement or revival, the benefit will be payable as per policy terms.
• Total Permanent Disability (TPD): This benefit is not available under the base plan, but it will be available through an additional rider.