Ageas Federal Termsurance Life Protection Insurance Plan

These two options have single and regular premium payment terms. Let’s read further to know in detail about different aspects of the policy. 

Eligibility Criteria of Ageas Federal Termsurance Life Protection Insurance Plan 

The following are the eligibility criteria of the policy.

Plan Options Offered by Ageas Federal Termsurance Life Protection 

Ageas Federal Termsurance Life Protection Plan offers two life cover options to choose from. These two options have two different premium payment modes such as regular and single. Individuals can choose different life cover options and premium payment options so that they can get the highest benefits from the policy considering their financial and family constraints.

Benefits Offered by Ageas Federal Termsurance Life Protection Plan

1. Death Benefit

   The death benefit is paid to the nominee in case of unfortunate demise of the life assured during the policy tenure. The death benefit is paid as:

   Death Benefit
   Age of Life Assured
   	Less than 45 years	45 years and above
   Single Premium	Highest of- 1.      Sun assured or; 2.      125% of the single premium paid or; 3.      Minimum guaranteed sum assured paid on maturity	Highest of- 1.      Sum assured or; 2.      125%  of the single premium paid or; 3.      Minimum guaranteed sum assured on maturity.
   Regular Premium	Highest of- 1.      Sum assured or; 2.      10 times the annualized premium.  3.      105% of the total premiums paid as on the date of death or; 4.      Minimum guaranteed sum assured on maturity	Highest of- 1.      Sum assured or; 2.      7 times the annualized premium.  3.      105% of the total premiums paid as on the date of death or; Minimum guaranteed sum assured on maturity

2. Maturity Benefit

   Ageas Federal Termsurance Life Protection Insurance Plan offers maturity benefits only for Return of Premium on Maturity Option plan. On survival till maturity, the policy will offer 100% of all the premiums paid till the date of policy maturity with necessary deductions as applicable. After this, the policy gets terminated thereafter.

3. Tax Benefits

   The tax benefits offered in the policy depend on the number and amount of tax paid during the policy term. 

   “Tax benefit is subject to changes in tax laws. Standard T&C apply.”

4. Surrender Benefits

   The Termsurance Life Protection Insurance Plan offers different surrender benefits for different life cover options. In Pure Protection Option with regular premium payment, it does not offer any surrender value. But its single premium payment plan offers special surrender value as applicable. In Return of Premium on Maturity Option with regular premium payment, it offers surrender value as the amount highest of Guaranteed Surrender Value and Special Surrender Value as applicable.

Premium Illustration

Both the Termsurance Life Protection Insurance Plan options allow provision to choose either single or regular premium payment mode. A male policyholder of age 30 years with a sum assured of INR 10 lakhs and policy term of 15 years is required to provide the following premiums as below.

Option1: INR 2,480

Option2: INR 8,920

Documents Required While Purchasing Ageas Federal Termsurance Life Protection Plan?

The individuals should submit a set of documents to help with the KYC process of policy processing. The required documents are listed below.

• Proof of Address 
• Proof   of Identity 
• DOB Proof
• Bank details and other financial statements
• Proposal form
• Passport size 2 photographs

They are requested to read all the policy-related information or documents carefully before purchasing the Termsurance Life Protection Insurance Plan successfully.

Exclusions

In case of death of insured individuals due to suicidal attempts, the incident will not offer the nominee any death benefit. However, if the event takes place within a year of the time risk commenced or policy revived, the nominee can claim 80% of premiums paid till the policyholder’s death date, or the Policy Surrender Value at that time, as applicable.

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