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Ageas Federal Lifesurance Savings Insurance Plan
Ageas Federal Lifesurance Savings Insurance Plan is a traditional participating Endowment Assurance plan which provides long term savings and life insurance for a happy and planned future
- 4.8++ Rated
- 10.5 Crore Registered Consumer
- 51 Partners Insurance Partners
- 5.3 Crore Policies Sold
Investment Plans
- Plan starting from ₹1,000/month
- Save upto ₹46,800 in Tax under section 80C^
- Zero LTCG Tax¶
- In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/Month & Get ₹1 Crore# Tax-Free*
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Investment Plan
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Ageas Federal Life Investment Plans
- Ageas Federal Lifesurance Savings Insurance Plan
Key Features
- It is a participating plan with limited and regular premium payment option
- Guaranteed Additions, reversionary bonuses, interim bonus and terminal bonus add to the corpus
- Guaranteed Additions are added in the first 5 policy years @ 5% of the maturity Sum Assured
- Reversionary bonuses accrue form the 6th policy year
Benefits
- On maturity, the basic SA along with the aggregate Guaranteed Additions + vested reversionary bonuses + terminal bonus, if any, is paid to the policyholder.
- On death of the policyholder, the death SA + vested Guaranteed benefits + vested reversionary bonuses + interim bonus + terminal bonus, if any, is paid to the nominee
- The Death Sum Assured is defined as the higher of the maturity SA or 10 times the annual premium or 105% of all premiums paid till death
- Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
Product Specification:
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
18 years |
55 years |
|
Maturity Age (Last Birthday) |
- |
75 years |
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Policy Term (PT) in years |
10 |
25 |
|
Premium Paying Term (PPT) in years |
5 |
25 |
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Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
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Yearly Premium |
10,000 |
No limit |
|
Sum Assured |
Depends on the premium chosen, age and term |
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Details About Premium
Annual premium in Rupees for a Sum Assured of 5 lakhs
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Age |
Policy Term / PPT |
Annual Premium |
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30 |
20 / 20 |
30,795 |
|
30 |
15 / 15 |
43,060 |
|
35 |
20 / 10 |
49,015 |
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35 |
15 / 10 |
57,565 |
Policy Details
Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 2/3 full years’ premium has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = GSV Factor * Basic premiums paid including the GSV of Guaranteed Additions and Bonuses
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Inclusions
- Loan is available under the plan to a maximum of 85% of the Surrender Value and a minimum amount of Rs.5000
Additional Features or Riders
- Accidental Death Benefit rider is available under the plan
- Rebates for choosing high Sum Assured of 10 lakhs and above
- Discount in premium for female lives
Exclusions
- In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid
- In case of the Accidental rider, benefit is not payable for death from accidents which are self-inflicted or due to civil commotions, riots, war, participation in hazardous sport activities, criminal activities, aviation, etc.
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Insurers Offering Investment Plans
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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