Ageas Federal Termsurance Group Insurance Plan

Ageas Federal Term Insurance Group Insurance Plan is a pure term plan designed specifically for groups providing insurance benefits to its members at a minimal cost.

Key Features

  • It is a yearly renewable pure term plan
  • The plan can be availed by groups like employer-employee, banks and its customers, professional groups, affinity groups, etc. for covering its members
  • A Master Policy held by the group’s head is issued covering the members for a pre-determined amount.
  • Premiums can be paid either by the group or by individual members
  • The plan provides hassle-free application process and older members can also be covered
  • Premium for new entrants are calculated on pro-rata basis

Benefits

  • The nominee gets the Sum Assured on death of the policyholder during the term of the plan
  • There is an in built Accidental Death Benefit and Terminal Illness Benefit for 5000-50 lakhs cover under which the additional benefit is paid in case of accidental death or on diagnosis of the terminal illness
  • Income tax benefit on the premium paid by the members as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act. If premiums are paid by the group master policyholder, it is exempt under Section 37.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

15 years for non-employer-employee groups

&

18 years for employer-employee groups

69 years

Maturity Age (Last Birthday)

16 years for non-employer-employee groups

&

19 years for employer-employee groups

70 years

Size of the group

50 members

No limit

Premium Payment Frequency

Annual, half-yearly, quarterly, monthly

Sum Assured

5000

No limit

Policy Details

  • Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other modes.
  • Policy Termination or Surrender Benefit: the policy cannot be surrendered.
  • 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.

Additional Features or Riders

  • There are 2 inbuilt riders of Accidental Death Benefit and Terminal Illness benefit

Exclusions

  • For the Accidental Death benefit rider, accidents due to drug abuse, self-inflicted injury, war or civil commotion, criminal acts, aviation, etc. are excluded
  • For the Terminal Illness benefit, illness due to HIV infection, service in armed forces, participation in racing or scuba diving, self-inflicted injuries, congenital diseases, alcohol influence are excluded

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the details of every group member.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
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Ageas Federal Termsurance Group Insurance Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Parul
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Amrita
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Pratap
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Anurag
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Kashish
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Komal
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Harisha
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
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