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Ageas Federal Life Insurance ProGrow ULIP Plan
The Ageas Federal Life Insurance ProGrow ULIP Plan is a Unit-Linked Life Insurance Savings Plan that provides two main advantages through its life protection and investment growth features. Under this plan, a part of your premium provides life insurance coverage, while the remaining portion is invested in funds of your choice. The fund's value grows with market performance, offering the potential for higher returns over the long term.
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Eligibility Criteria for Ageas Federal Life Insurance ProGrow ULIP Plan
| Criteria | Minimum | Maximum |
| Entry Age | (0 years) 91 days | 60 years |
| Maturity Age | 18 years | 80 years |
| Policy Term | 15 years (or PPT + 5 years, whichever is higher) | 40 years |
| Premium |
|
No limit (as per underwriting policy) |
| Sum Assured | ₹5,00,000 | No limit |
| Premium Payment Term | 6 to 15 years | - |
| Premium Payment Mode | Annual, Half-yearly, Monthly | - |
| Death Sum Assured | Rs. 5,00,000 | No limit |
| Life Cover Multiple | 10 | 100 |
Key Features of Ageas Federal Life Insurance ProGrow ULIP Plan
- Life Insurance Protection: The plan provides a life cover depending on the amount you take at the time of purchase of the policy. This provides financial support to your family in case of an unfortunate incident.
- Market-Linked Investment Growth: Your contribution goes directly into market funds. The returns depend on market performance. This plan provides both flexibility and protection in a single solution.
- Loyalty Additions: The investment plan is designed to reward long-term commitment. It offers loyalty additions that are credited to your fund after the completion of the 10th policy year and continue to be added at every five-year interval thereafter, enhancing the overall value of your investment.
- Return of Charges: The plan may credit certain charges back to your policy value as savings, including premium allocation charges, policy administration charges, and mortality charges, subject to the specific terms and conditions of the policy.
- Flexible Investment: You can also change funds as you change your financial objectives since Federal Life ULIP plans are viewed as an appropriate strategy in wealth creation over the long term, in addition to life cover.
- Flexible Premium and Policy Selections: The plan provides you with the option of a premium amount, payment frequency, and period of the policy, depending on your requirements.
- Tax Benefits: Current tax laws might allow tax benefits on payments of premiums and benefits received.
Benefits of Ageas Federal Life Insurance ProGrow ULIP Plan
Choosing one of the best guaranteed return plans leaves you with a lot of advantages. The Ageas Federal Life Insurance ProGrow ULIP plan includes the following benefits:
- Death Benefit: In case of the death of the life insured within the term of the policy, the nominee gets the death benefit. This includes:
- Sum Assured on death
- Top-up sum assured (if any)
- Value of fund, including top-up fund value.
- Maturity Benefit: In case the life insured survives by the expiry of the policy term, the policyholder is paid:
- Total fund value
- Loyalty additions
- Returned charges
- Partial Withdrawal Facility: After completing 5 policy years, you can withdraw money from your fund value when needed. The money can be used to provide assistance during emergencies and to meet scheduled financial obligations.
Policy Details of Ageas Federal Life Insurance ProGrow ULIP Plan
Before investing in the ULIP Plan like the ProGrow Plan, it is important to understand how the policy functions. Here are the details:
- Grace Period: 15 days (monthly mode) and 30 days (annual mode/ half yearly mode) to pay arrears of premiums and still maintain the policy.
- Discontinuance & Revival: When non-paid, the fund value will transfer to a discontinued policy fund on the 5-year lock-in. Revival may occur after 5 years, under certain conditions.
- Free Look Period: You have 5 days to review and cancel the policy, or 30 days if the policy is purchased through distance mode, should you decide not to continue.
- Fund Switching/ Withdrawal: Permitted after 5 years in accordance with the policy provisions.
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹39.25 | ₹93 Cr | 5.47% | 6.72% | |
| Bandhan Life Secure Fund | ₹28.34 | ₹46 Cr | 5.19% | 4.64% | |
| Bandhan Life Blue Chip Equity Fund | ₹28.9 | ₹202 Cr | 11.17% | 11.57% | |
| Bandhan Life Stable Fund | ₹31.16 | ₹17 Cr | 7.07% | 8.89% | |
| Bandhan Life Accelerator Fund | ₹44.39 | ₹219 Cr | 12.79% | 13.07% | |
| Bandhan Life Opportunity Fund | ₹34.49 | ₹222 Cr | 15.97% | - | |
| Bandhan Life Pension Debt Fund | ₹31.22 | ₹4 Cr | 5.31% | 6.54% | |
| Bandhan Life Pension Enhanced Equity | ₹105.1 | ₹17 Cr | 13.27% | 12.99% | |
| Aegon Balanced | ₹42.5 | ₹12 Cr | 7.41% | 9.09% | |
| Aegon Enhanced Equity | ₹65.02 | ₹116 Cr | 13.03% | 12.77% | |
| Aegon Pension Balanced | ₹48.59 | ₹2 Cr | 8.16% | 9.57% | |
| Aegon Pension Index | ₹80.44 | ₹6 Cr | 8.47% | 11% | |
| Aegon Pension Secure | ₹28.33 | ₹1 Cr | 4.67% | 5.09% | |
| Aegon Life Group Equity Fund | ₹56.06 | ₹11 Cr | 14.14% | - |
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Exclusions Under the Ageas Federal Life Insurance ProGrow ULIP Plan
Suicide Clause
Under the Ageas Federal Life ULIP Plans, if the life insured dies due to suicide within twelve months from the policy commencement or revival date, only the policyholder shall receive the fund value on the policy.
FAQs
-
Can I withdraw money from the Ageas Federal Life Insurance ProGrow ULIP Plan?
You become eligible for partial withdrawals after you reach five years of your policy term. The system enables users to manage their emergency financial needs together with their planned financial obligations. -
Does the plan offer flexible investment funds?
The plan provides several fund options that customers can switch between without any restrictions. The system enables you to adjust your investments according to your specific financial objectives. -
What happens if I stop paying premiums?
If premiums are not paid, the policy may become discontinued or reduced to paid-up based on policy conditions. The policy benefits are provided according to the established rules of the policy.
Insurers Offering ULIPs
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI 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