Ageas Federal Guaranteed Lifetime Income Plan

Eligibility Criteria for the Ageas Federal Guaranteed Lifetime Income Plan

Features of the Ageas Federal Guaranteed Lifetime Income Plan

The Ageas Federal Guaranteed Lifetime Income Plan offers several features. These include:

• Guaranteed Lifetime Income: The plan provides fixed payments throughout the life of the annuitant so as to satisfy financial requirements.
• Single Premium Payment: The plan requires a one-time payment at the beginning of the policy.
• Flexible Income Frequency: You can select your income payment schedule either monthly or quarterly or half-yearly, or yearly.
• Non-Linked Plan: The benefits of this plan are not affected by market fluctuations, making the income predictable and stable.
• Return of Purchase Price Option: It ensures that 100% of the Purchase Price (excluding GST and cess) is paid to the nominee on death, under applicable annuity options.

Explore different types of savings plan to know more about the available options.

Benefits of the Ageas Federal Guaranteed Lifetime Income Plan

The Guaranteed Lifetime Income Plan focuses more on stability and guaranteed payouts compared with other market-based investment plans for high returns. Some of the key benefits are:

• Income payments: The plan provides guaranteed annuity payouts for life based on the selected option and payout frequency.
• Survival Benefit: Based on the chosen payout frequency, the plan pays annuity benefits for as long as the annuitant survives.
• Death Benefit: The nominee will receive either the purchase price or applicable benefits based on the selected option after the annuitant's death under the Ageas Federal Life Investment Plans.

Policy Details of the Guaranteed Lifetime Income Plan

Some of the important policy details are listed below:

• Free Look Period: The policyholder gets a 30-day period after receiving the policy document to review and cancel the policy if not satisfied.
• Surrender: The surrender option exists for specific annuity plans that provide the purchase price back to customers who meet their policy requirements.
• Nomination: The policyholders have the right to choose beneficiaries according to the regulations that apply to their situation.
• Assignment: Policy assignment is allowed according to insurance regulations.
• Purchase Price: The policy requires a single premium payment at the beginning.

Exclusions Under the Guaranteed Lifetime Income Plan

• Suicide Clause: The policy states that if the annuitant commits suicide within 12 months after the policy start date, the nominee will receive at least 80% of the purchase price or the surrender value, whichever amount is greater.
• Immediate Life Annuity: Surrender benefits are available only under certain annuity options with the return of purchase price. Immediate life annuity options generally do not offer surrender.

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