Ageas Federal Life Insurance Saral Pension Plan

The Ageas Federal Life Insurance Saral Pension Plan is a non-linked, single premium, non-participating, and individual, immediate annuity plan, which is designed to provide guaranteed lifetime income. The plan provides both single life and joint life with return of purchase price, in which the individual is assured of financial security in their retirement. It aims at providing a regular lifetime annuity payout in exchange for a single purchase price.

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Insurance Partners
6.29 Crore
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Eligibility Criteria for the Ageas Federal Life Insurance Saral Pension Plan

Particulars Minimum Maximum
Age at Entry (Last Birthday) 40 years 80 years
Policy Term Whole of Life Whole of Life
Minimum Purchase Price ₹1,50,000 (subject to minimum annuity) No limit
Minimum Annuity Payout ₹1,000 per month / ₹3,000 per quarter / ₹6,000 per half-year / ₹12,000 per year No limit
Premium Paying Option Single Pay

Features of the Ageas Federal Life Insurance Saral Pension Plan

Here are its key features under the Ageas Federal Life Insurance Saral Pension plan:

  • Life Annuity(100% Return of Purchase Price) (ROP)
    Annuity will be paid in arrears for the lifetime of the annuitant. On death, the nominee receives 100% of the Purchase Price (before tax). This guarantees a safe return of your investment, making it an excellent option under the Ageas Federal Life Pension Plans.
  • Joint Life Last Survivor Annuity with 100% Return of Purchase Price
    The arrears of annuity are paid as long as the primary or secondary annuitant is alive. On the first death, the 100% annuity continues to the surviving annuitant. On the death of the last survivor, the nominee receives 100% of the Purchase Price.
  • Guaranteed Lifetime Annuity
    After buying the annuity, it cannot be altered because it is provided with a guaranteed amount throughout the life of a person.
  • Flexible Payout Modes
    An annuity can be received monthly, quarterly, half-yearly, or annually, according to the selected option when it is initiated.
  • Surrender Option (Under Given Conditions)
    The policy may be given up after six months of commencement in case the annuitant, spouse, or children are diagnosed with given critical illnesses. On approval, 95% of the Purchase Price (minus taxes) is to be paid as per policy terms.

Benefits of the Ageas Federal Life Insurance Saral Pension

The Ageas Federal Life Insurance Saral Pension Plan offers key benefits to ensure financial security under retirement planning, providing lifetime income and protection. Here are the main advantages:

  1. Survival Benefit:
    Annuity is paid in arrears for the lifetime of the annuitant according to the option and payout rate selected.
  2. Death Benefit: 
    • Single Life Option
      Upon the death of the annuitant, the annuity payments cease, and payment of 100% of the purchase price (without taxes) to the nominee is made. The policy is then terminated.
    • Joint Life Option
      When there is a first death, the 100% annuity will go to the surviving annuitant. Upon the event of the last survivor, 100% of the Purchase Price (excluding taxes) is given to the nominee, and the policy ceases.

Policy Details of the Ageas Federal Saral Pension Plan

The following are the policy details under the Ageas Federal Life Insurance Saral Pension Plan:

  • Free Look Period
    A 30-day period of free look will be provided after receipt of the policy document. If cancelled within this period, the Purchase Price will be refunded after deducting proportionate risk premium, medical expenses (if any), and stamp duty charges.
  • Surrender
    Allowed after six months, provided that there are certain critical illnesses as prescribed by the policy.
  • Loan
    A loan can be availed after six months following policy commencement. Loan amount will be subject to conditions, i.e., the interest payable on the loan should not be more than half of the annual annuity. Loan interest is recovered from annuity payments.

With its flexibility and long-term benefits, the Ageas Federal Saral Pension Plan is a reliable retirement plan, being a part of some of the best investment plans for higher returns.

Exclusions Under the Ageas Federal Life Insurance Saral Pension Plan

  • Suicide Clause
    ​Suicide exclusion is not applicable in the traditional sense, as this is an immediate annuity plan. The death benefit is governed strictly by plan terms regarding the return of the purchase price.

FAQs

  • 1. What happens on death under the Single Life option?

    In case of death under the Single Life option, the annuity payments stop, and 100% of the Purchase Price is paid to the nominee. This feature makes the Ageas Federal Life Insurance Saral Pension Plan one of the best Guaranteed Return Plans for ensuring that your loved ones are financially secure.​
  • 2. Is it possible to change the payout frequency after the annuity starts?

    No, when the annuity has been initiated, the frequency of payment cannot be changed. The frequency should also be selected depending on the time of acquiring a policy.
  • 3. Does this policy have a maturity benefit?

    No, this plan is not beneficial to maturity. It is concentrated on guaranteeing a lifetime income.
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Ageas Federal Pension Plans Reviews & Ratings

4.6 / 5 (Based on 350 Reviews)
(Showing Newest 10 reviews)
Sunidhi
Kochi, January 20, 2025
Bajaj Allianz pension plan
I got an amazing deal on a Bajaj Allianz pension plan with lifetime income through Policybazaar.
Haritika
Bhopal, January 19, 2025
Easy to find plans
Policybazaar makes it easy to find pension plans with guaranteed income like HDFC.
Jhanvi
Chandigarh, January 18, 2025
ICICI annuity plan
Thanks to Policybazaar I got a great ICICI annuity plan with regular payments.
Shrishti
Surat, January 17, 2025
Understand features of plan
Policybazaar helped me understand the different features of pension plans including Bajaj Allianz.
Prashant
Bahadrabad, January 16, 2025
Great Policy
I have pnb metlife life insurance pension policy plan which has low premiums and payed quarterly per year. Policy coverage is 89% and claims are high and the payback amount is around Rs.41 K per month. Service is very good and fast. The policy is nice investment for future and it is good tax saver too. Nice plan, I like it.
Manish
Mangalore, January 16, 2025
Fair Policy
I got a very good policy plan from pnb metlife life insurance. The policy is great for future investment nice pension policy plan. The coverage is good ~87%, service is great, even the claims are the best. Good behaviour from executives and staff members. Great policy, very happy with it.
Lalit
Mahabaleswar, January 16, 2025
Fine
My friend suggested me to invest money for future so i buy pnb metlife life insurance and have pension policy plan. The policy coverage is high ~89% and the claim is around Rs.39 K per month after policy get mature. Great services with fast interface.
Rahul
Manipal, January 16, 2025
Very Nice
My pension policy plan is with pnb metlife life insurance. The policy has good coverage approx. 97% with low premium. Claims are also high and the returns is Rs.39 K per month after policy end. Service is fantastic and the executives do best work. Good investment for future and taxes are also reduced.
Jitender
Ratlam, January 16, 2025
Normal Policy
I invest my money for my future security with pnb metlife life insurance. I have pension policy plan. Policy coverage is 91% and claims are around 39 K. Service is good and executives behave well. Nice policy plan.
Bhavya
Sonipat, January 16, 2025
Perfect Plan
I buy pension policy for my parents. My parents are happy with the policy due to low premiums. The returns are high ~Rs.45 K per month for each. The policy coverage is high ~92% and service is rapid and on time. The online facilities are simple and easily accessible. Good job guys.


˜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
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
*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

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