Ageas Federal Life Insurance Golden Years Pension Plan

The Ageas Federal Life Insurance Golden Years Pension Plan is a non-participating, unit-linked, personal pension scheme, which seeks to assist individuals in building a retirement fund. It offers a broad choice for flexible premium payments, investment plans, and other benefits such as loyalty boosters and allocation returns to ensure financial stability in the long run upon retirement.

Eligibility Criteria for the Ageas Federal Life Insurance Golden Years Pension Plan

Parameter

Eligibility Criteria

Minimum Entry Age

18 Years

Maximum Entry Age

45 Years

Maturity Age

Up To 80 Years – Classic Option

Up To 70 Years – Golden Waiver Option

Policy Term

10 to 40 Years

Premium Payment Mode

Single Pay
Yearly
Half-Yearly
Monthly

Minimum Premium

₹50,000 – Regular Pay
₹200,000 – For Certain Policy Terms

Minimum Top-Up Premium

₹5,000

Age Calculation

All ages are calculated based on the last birthday

Features of the Ageas Federal Life Insurance Golden Years Pension Plan

The following are the main features of the Ageas Federal Life Insurance Golden Years Pension Plan:

Two plan options: The plan has two options: Classic and Golden Premium Waiver.

Early Investment Booster: It is applied to individuals aged 18 to 35.

Guaranteed Loyalty Boosters: Incorporated into all the other policies since the 7th policy year.

Flexible Premium Payment: You can choose the premium payment term that best suits your financial goals.

Return of Allocation Charges: Charges paid on the policy term are refunded on maturity.

Fund Switching Facility: Freely switch investments between the existing available funds.

Tax Benefits: Tax benefits are available as per prevailing tax laws. For comprehensive retirement planning, consider exploring Ageas Federal Life Pension Plans that offer flexible investment and income options.

Benefits of the Ageas Federal Life Insurance Golden Years Pension Plan

The advantages of this plan are as follows:

Maturity Benefit
The value of the fund in terms of loyalty booster and allocation charge will be disbursed upon maturity. The policyholders can either purchase an annuity or withdraw some of the value as per the rules.

Death Benefit
The nominee gets 105% of the sum total of the premiums paid or the higher of the amount in the fund at the time of death of the policyholder holder as the case may be, within the policy term.

Investment Growth
Policyholders have the option to invest in equity or debt-based funds, depending on their risk appetite, to create wealth in the long term.

Partial Withdrawal Facility
Partial withdrawals are allowed after the lock-in period, subject to policy conditions.

Policy Details of the Ageas Federal Life Insurance Golden Years Pension Plan

The following policy details outline the key terms, conditions, and provisions that govern the plan’s functioning throughout the policy term:

Grace Period
It gives a 15-day grace period on the monthly mode and 30 days on the yearly or half-yearly mode for premium payments. This is the period when the policy will be active.

Revival
The policy can be revived three years after the first unpaid premium if the due premiums are paid.

Free Look Period
Policyholders are given a free 30-day preview to look at the policy and cancel it in case they are not satisfied.

Surrender
The policy may be surrendered during or after the lock-in period, subject to policy terms.

Fund Switching
The policyholders have the choice of switching funds or using automated switching techniques depending on their preference for investments.

Loan
No loan facility is available under this policy.

FAQs

Can policyholders switch their investment funds during the policy term?

Yes, there is a fund switching facility under the Golden Years Pension Plan, where the policyholder can switch investments between equity and available debt funds. Automated switching can also be provided as policy terms.
Is it possible to access the money in the plan?

Partial withdrawals can only be made after the lock-in period and are subject to the policy's limits and conditions.
Is there any investment risk in the plan?

The policyholder assumes investment risk in this unit-linked plan, which is dependent on market performance.
What occurs at the maturity of the Ageas Federal Life Insurance Golden Years Pension Plan?

The policyholder can use the value of the accumulated fund at maturity. According to the pension plan's rules, part of the amount can be withdrawn in a lump sum, and the rest is typically invested to purchase an annuity that provides a regular retirement income.