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Best ULIP Funds - Consider the best performing ULIP funds to invest in 2023 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categori2022es
Ageas Federal Life Insurance Co Ltd is a joint-venture of Ageas Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe. It is one of the fastest growing life insurance companies and offers a diverse range of wealth management, protection and retirement solutions to all its customers. It started its operations from 2008 and they were able to achieve breakeven in just 5 years.
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹ 1 Crore
Invest 10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual Funds*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Top performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore returns*
Best ULIP Funds - Consider the best performing ULIP funds to invest in 2023 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categori2022es
Through a nationwide network of 2, 964 branches of Ageas Bank and Federal Bank, and a sizeable network of advisors and partners, Ageas Federal Life Insurance has achieved presence across the length and breadth of the country. They wish to be the leading provider of wealth management and other services. The main mission is to continually strive to enhance customer experience through innovative products, efficient relationship management and excellent service delivery in a cost effective manner.
Unit Linked Insurance Plans (ULIPs) are insurance plans combined with the features of a mutual fund. The premiums paid by the policyholder are held in a corpus which is then invested in stocks and shares of different companies operating in the capital market. The total market value of the corpus invested divided by the number of securities purchased give the Net Asset Value (NAV) which is the price of one unit of the fund. The premium paid is invested at the prevailing NAV which changes every moment with the market trend. ULIPs promise good returns linked to the market and also insurance coverage. The basic features of ULIP plans are as follows:
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Ageas Federal Life Insurance Company Limited offers various types of Unit Linked Insurance plans to its customers with varied features and benefit structure. Let us take a look at the different types of plans offered by the company and the features and benefits of each plans in details.
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
1 month |
65 years |
Maturity Age |
18 years |
75 years |
Policy Term |
10, 15 or 20 years |
|
Premium amount |
Rs.15, 000 |
Rs.25, 000 |
Sum Assured |
10 times the annual premium |
|
Premium Payment Term |
10 years and thereafter in blocks of 5 years |
|
Premium Paying Frequency |
Yearly |
A unit linked plan with the dual benefit of capital appreciation and insurance protection. The features and benefits of the plan are as follows:
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
1 month |
64 years |
Maturity Age |
18 years |
74 years |
Policy Term |
10 years |
30 years |
Premium amount |
Rs.25, 000 |
Rs.95, 000 |
Sum Assured |
Higher of 10/7 times the annual premium or 0.5/0.25*term*annual premium |
10/7/15 times the annual premium or Premium Paying Term *2*annual premium |
Premium Payment Term |
5 years |
Equal to plan tenure |
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
A unit linked insurance plan with a single premium payment option. The Key features and benefits of Wealthsurance Growth Insurance Plan SP:
Here only key features of this plan are discussed. For a detailed description of the terms and conditions and features of this policy, please go through the policy documents. Please go through the policy documents for understanding its benefits, features, prices, and other features of Wealthsurance Growth Insurance Plan SP in detail.
Name of the Plan: Ageas Federal Wealthsurance Growth Insurance Plan SP UIN: 135L034V03
Plan Type: It is a non-participating, unit-linked, single-pay life insurance plan.
Policy Aim: It is a one-time investment policy that offers the dual benefits of life cover with the opportunity to make long-term returns. Guaranteed loyalty additions in the investment contribute to accomplishing the goal of wealth creation.
Maturity Benefit: If the policyholder outlives the policy term, fund value along with the total guaranteed loyalty additions, as on the maturity date is paid.
Guaranteed Loyalty Additions: The guaranteed loyalty additions are credited to the policy at the end of the fifth year of the policy and then after every five years.
Death Benefit: The death benefit is paid to the nominee in case the policyholder dies during the tenure of the policy. The death benefit that is paid to the nominee or beneficiary of the insured is the highest of:
Premium Payment: The policy premium has to be paid only once at the inception of the policy.
Non-payment of Premium:
Discontinuing Policy Premiums Within Five Years From Its Date of Commencement |
Discontinuing Policy Premiums After Five Years From Its Date of Commencement |
If the insured fails to pay the policy premiums within the policy's grace period, its fund value after the deduction of applicable discontinuance charges has to be credited to this discontinued insurance policy fund, and the rider and risk cover, if any, must cease. |
After paying all due policy premiums in the first five years of the policy, if the insured fails to pay the premium within its grace period, the policy must be converted to a reduced paid-up plan that has: Reduced Death SA (Sum Assured) = Death SA x (Total Number of Paid Premiums / Original Number of Payable Premiums) |
In case the insured does not revive the policy, it shall continue without any rider cover and risk cover (if any). Moreover, the proceeds of this discontinued insurance policy fund have to be paid to the policyholder at the end of its revival period or lock-in period, whichever is later. |
In case the insured does not revive the insurance policy, it shall continue to be in reduced paid-up status. At the end of its revival period, the proceeds of the insurance policy fund must be paid to the insured. |
Revival: The insured can revive the policy within its revival period of three years from the due date of the last premium that was not paid, by paying its due premiums without any fee or interest.
Surrender:
Exclusions: Suicide exclusion is provided, and it is mentioned in detail in the documents of the policy and its sales literature.
Tax Benefits: A policyholder can avail the tax benefits under section 80C for the premiums he/she has paid and under section 10(10D) for the amount he/she has received as surrender/death/maturity benefits under the policy.
Eligibility Details
|
Minimum |
Maximum |
Entry Age |
1 month |
70 years |
Maturity Age |
18 years |
75 years |
Policy Term |
5 years |
25 years |
Premium amount |
Rs.25, 000 |
No limit |
Sum Assured |
1.25 or 1.10 times the Single premium Paid depending on age |
10 times the Single premium Paid |
Premium Payment Term |
Single Pay |
A unit linked child insurance plan which provides market related returns while at the same time taking care of the child’s future.Guaranteed Loyalty Additions are added to the fund @3% of the average fund value in the preceding three years.The fund value is paid on maturity of the plan and in case of death of the insured during the tenure of the plan; the Sum Assured is paid immediately. Thereafter, all future premiums are waived off and the aggregate future premiums payable are credited to the fund value by the company. This fund grows till the remaining time to maturity upon which the applicable fund value is paid to the nominee. The policyholder may also avail of the Education Support Benefit under which the death benefit can be availed as money-backs in the last 5 years of the policy after the death of the insured.
Online
The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Intermediaries
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
For payment through online, policyholder must visit e-portal of company.
and provide the relevant policy information to enter the site and check the current status of your policy.
You can track you application from the above link in case you have recently applied.
The process is simple. Fill the suitable claims form and submit the medical bills and reports and other documents as requested by the company to the nearest branch. The claim amount will be directly deposited in your bank account.
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