Ageas Federal ULIP Plans

Introduction to Ageas Federal ULIP Plan^††

Ageas Federal ULIP Plans are insurance policies that combine life cover with market-linked investments. You pay premiums, part of which goes towards insurance and the remaining gets invested in funds you choose (like equity, debt, index, and balanced funds).

So, you build wealth while being protected. The benefits of Ageas Federal ULIP Plan include potential wealth growth, tax benefits, and death benefits for your loved ones. The different ULIP plans cater to your varying needs, like wealth creation, child education plan, or retirement. 

Types of Ageas Federal ULIP Plans

Ageas Federal Life Insurance Company Limited offers various types of Unit Linked Insurance Plans to its customers with varied features and benefit structures. Let us take a look at the different types of plans offered by the company: 

Disclaimer: †† 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. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

The following sections will help you learn the key features of various Ageas Federal ULIP Plans in detail.

1. Ageas Federal Wealthsurance Growth Insurance Plan SP II

   Ageas Federal Wealthsurance Growth Insurance Plan SP II is a single premium Unit Linked Insurance Plan (ULIP). It combines life insurance coverage with the potential for wealth growth through investment in unit-linked funds.

   Features of Ageas Federal Wealthsurance Growth Insurance Plan SP II:

   • Single Premium Payment: You only need to pay a single premium at the beginning of the policy term.

   • Choice of Investment Options: You can choose to invest your premium in one or more of six unit linked funds.

   • Life Insurance Cover: The plan provides life insurance cover for the entire policy term.

   • Maturity Benefit: If you survive the policy term, you will receive the fund value at maturity.

   • Loyalty Additions: The plan also offers loyalty additions, which are bonuses that are added to your fund value every five years.

   • Partial Withdrawals: You can make partial withdrawals from your policy after five years.

   • Top-up Premiums: You can also top up your premium at any time during the policy term.

   

2. Wealth Gain Insurance Plan

   Ageas Federal Wealth Gain Insurance Plan is a unit-linked insurance plan (ULIP) that offers life cover and helps you build wealth over the long term. It provides you with the flexibility to choose from a variety of investment options and the potential to earn high returns.

   Features of Ageas Federal Wealth Gain Insurance Plan:

   • Choice of Funds: Invest in 8 different funds across equity, debt, and balanced options based on your risk appetite and financial goals.

   • Guaranteed Additions: Receive guaranteed loyalty additions to your fund value over the policy term, boosting your overall wealth accumulation.

   • Flexibility: Switch between funds easily to manage your investments based on market conditions.

   • Maturity Benefit: Get the accumulated fund value (including loyalty additions) at the end of the policy term.

   • Life Cover: Provides a death benefit to your nominated beneficiary in case of your unfortunate demise during the policy term.

   • Waiver of Premium on Disability: In case of disability, your future premiums are waived off, ensuring continued life cover and wealth accumulation for your family.

   • Tax Benefits: Premiums paid and maturity benefits qualify for tax exemptions under applicable sections of the Income Tax Act, 1961.

   • Top-up Option: Increase your investment and life cover throughout the policy term to adapt to your evolving needs.

   • Rider Options: Enhance your protection with optional riders like critical illness cover and accidental death benefit.

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3. Wealth Plus Critical Protection Plan

   Ageas Federal Wealth Plus Critical Protection Plan is a Unit Linked Insurance Plan (ULIP) that combines market-linked investment returns with death and critical illness coverage. It is designed to cater to individuals seeking wealth creation alongside financial security for themselves and their loved ones.

   Features of Ageas Federal Wealth Plus Critical Protection Plan:

   • Life Cover: Provides financial protection to your loved ones in case of your unfortunate demise.

   • Investment Growth: Your premiums are invested in market-linked funds, which have the potential to grow your wealth over the long term.

   • Critical Illness Benefit: This optional benefit provides a lump sum payment if you are diagnosed with any of the critical illnesses covered by the plan.

   • Premium Payment Term: You can choose to pay your premiums for a limited period or throughout the policy term.

   • Loyalty Additions: The plan offers guaranteed loyalty additions, which are added to your fund value at regular intervals.

   • Top-up Facility: You can increase your sum assured or invest additional premiums during the policy term.

   • Partial Withdrawals: You can withdraw a part of your fund value after a lock-in period.

   • Tax Benefits: You can avail tax benefits on your premiums paid and the maturity proceeds under the plan, as per Section 80C and Section 10(10D) of the Income Tax Act, 1961.

   

4. Smart Growth Plan

   The Ageas Federal Smart Growth Plan is a unit-linked life insurance (ULIP) plan that offers a combination of life insurance coverage and investment benefits. This means that you can get both protection for your loved ones and the potential to grow your wealth over time.

   Features of Ageas Federal Smart Growth Plan:

   • Life Cover: Provides financial protection to your loved ones in case of your unfortunate demise.

   • Investment Growth: Your premiums are invested in unit-linked funds, offering the potential for long-term wealth creation through market performance.

   • Premium Payment Term: Choose to pay premiums for a limited period or throughout the policy term.

   • Fund Management: Switch between different fund options based on market conditions and your investment goals.

   • Partial Withdrawals: Withdraw a part of your fund value after a lock-in period of 5 years to address financial needs.

   • Policy Surrender: Surrender your policy after the lock-in period and receive the fund value.

   • Guaranteed Loyalty Additions: Receive loyalty bonuses added to your fund value at specific intervals, boosting your wealth accumulation.

   • Tax Benefits: Enjoy tax benefits on premiums paid under Section 80C and on maturity proceeds under Section 10(10D) of the IT Act, 1961.

   People also read: ULIP Calculator

5. Platinum Wealth Builder Plan

   The Ageas Federal Platinum Wealth Builder Plan is a Unit Linked Insurance Plan (ULIP) specifically designed for high-net-worth individuals seeking both long-term wealth creation and life insurance protection.

   Features of Ageas Federal Platinum Wealth Builder Plan:

   • Life Cover: Provides financial security to your loved ones if you pass away during the policy term.

   • Investment Growth: Premiums are invested in market-linked funds for potential long-term wealth creation.

   • Loyalty Additions: Guaranteed loyalty bonuses are added to your fund value at specific intervals, boosting your wealth accumulation.

   • Wealth Booster on Premiums: Additional premium allocation of 2% of installment premium added to your fund from the 6th policy year till the end of the premium paying term, accelerating returns.

   • Flexible Policy Term: Choose your policy term (12 to 25 years) and premium paying term (6, 8, 10, 12, or 15 years).

   • Fund Switching: Switch between fund options based on market conditions and your investment goals.

   • Partial Withdrawal: Make partial withdrawals after a lock-in period to address financial needs.

   • Optional Spouse Cover: Provide additional protection for your spouse by opting for this cover.

   • Top-up Facility: Increase your sum assured or invest additional premiums during the policy term to enhance your wealth accumulation.

   • Tax Benefits: Enjoy tax benefits on premiums paid and maturity proceeds as per applicable tax laws.

Steps to Apply for Ageas Federal ULIP Plan

Follow the steps mentioned below to start investing in Ageas Federal Unit Linked Insurance Plans: 

Step 1. Choose a plan:

Explore Policybazaar website or consult an insurance agent to understand the plans available, such as Wealth Gain, Wealthsurance Growth, or Wealth Plus Critical Protection. Consider your specific goals, risk appetite, and budget to choose the best plan for you.

Step 2. Contact an agent or visit a branch:

Once you've chosen a plan, you can contact an Ageas Federal agent or visit a branch to initiate the application process. They will guide you through the formalities and provide the necessary documents.

Step 3. Gather documents:

You will need to submit various documents as part of the application process, including:

• Proof of identity (PAN card, Aadhaar card)

• Proof of address (Voter ID, electricity bill)

• Proof of income (Salary slips, income tax returns)

• Medical declaration form (completed by a doctor)

• Proposal form (filled out with your details)

Step 4. Pay the premium:

You will need to pay the initial premium amount at the time of application. Ageas Federal offers various premium payment options, including lump sum, regular, or flexible premiums.

Step 5. Medical examination:

Depending on the chosen plan and your age, you may be required to undergo a medical examination. This helps the insurance company assess your risk profile and determine the premium amount.

Step 6. Policy review and approval:

Once all documents are submitted and the medical examination (if applicable) is completed, Ageas Federal will review your application. They will assess your eligibility and determine the premium amount based on your risk profile. Upon approval, you will receive the policy document outlining the terms and conditions.