Ageas Federal Life Insurance Easy Save Plan

Eligibility Criteria for the Ageas Federal Life Insurance Easy Save Plan

Features of the Ageas Federal Life Insurance Easy Save Plan

The Ageas Federal Life Insurance Easy Save Plan comes with various features. These include:

• Choice of Plan Variants: You can choose to receive your benefits either as a lump sum at maturity or as regular income, depending on your financial goals.
• Guaranteed Benefits: When the policy is used in the lump sum variant, the policy makes Guaranteed Additions (at the rate of interest) during the period of payment of the premiums. The plan under the Income variant offers Guaranteed Regular Income (GRI) throughout the term of the policy, as well as Maturity Booster Factor, where applicable
• Life Cover: Along with savings, the plan provides life insurance protection for your family.
• Flexible Income Option: If you choose the income option, you can start receiving guaranteed income from the first policy year or after a deferment period.
• Smart Maturity Payout: You can choose to receive the maturity amount in instalments instead of a lump sum.

Explore various features under the Ageas Federal Life Investment Plans to learn more about investment plans.

Benefits of the Ageas Federal Life Insurance Easy Save Plan

The Ageas Federal Life Insurance Easy Save Plan provides several benefits that support long-term savings and financial security. Here are the benefits:

• Income Benefit: The Income option provides you with fixed benefits during the duration of the policy, which helps you in planning your future budget. Income starts from Year 1 (0 deferment) or Year 5 (5 deferment).
• Maturity Benefit: The benefit is paid to the policyholder at the end of the policy term, provided all due premiums have been paid, and the life assured survives until maturity.
• Death Benefit: In the event of the death of the life assured (Death benefit), the insurance company pays a lump sum death benefit to the nominee, and the nominee can spend the money as he sees fit and which gives the family of the deceased financial security. The death benefit is higher of:
• Sum Assured on Death
• 105% of total premiums paid
• Not less than the surrender value

Riders Under the Ageas Federal Life Insurance Easy Save Plan

You can strengthen your protection by adding optional riders at an additional cost under this saving plan. These include:

• Accident Care Rider
• Critical Shield Rider

Riders are available subject to policy conditions and underwriting.

Policy Details of the Ageas Federal Life Insurance Easy Save Plan

The following are the policy details under this plan:

• Grace Period: A grace period of 30 days (15 days on the monthly mode) is given against the due date of the unpaid premium. This period continues to have the policy in force.
• Revival: A lapsed or paid-up policy can be revived within five consecutive years from the due date of the first unpaid premium, subject to underwriting and payment of applicable interest.
• Free Look Period: During the free look period, you have a period of 30 days starting on the date that you receive the policy document to respond to the terms and cancel the policy in case you are not satisfied with it.
• Surrender: The policy acquires a surrender value after completion of the first policy year, provided at least one full year’s premium has been paid. 

Individuals comparing it with the best investment plans for higher returns should consider long-term financial goals before making a decision.

Exclusions Under The Ageas Federal Life Insurance Easy Save Plan

• Suicidal Cover: In case of death because of suicide within 12 months after commencement or revival of the policy, the nominee will get 80% of the total premiums paid out or the value in the form of the surrender value at the date of death, whichever is higher.
• Total Permanent Disability (TPD): Total Permanent Disability benefit is not available under the base plan. It may be available only through applicable riders.

To know more about traditional life insurance plans, explore various Guaranteed Return Plans in detail.