Ageas Federal Guaranteed Wealth Plan

Eligibility Criteria for Ageas Federal Guaranteed Wealth Plan

To qualify for the Ageas Federal Guaranteed Wealth Plan, you must meet the following eligibility criteria:

Features of the Ageas Federal Guaranteed Wealth Plan

Below are the features of Ageas Federal Guaranteed Wealth Plan: 

•  Flexibility in Premium Payments and Policy Terms: The investment plan is flexible in both the premiums and the term of the policy, so that you can customize it to suit your requirements.
•  Guaranteed Returns: As one of the best guaranteed return plans, it ensures predictable and stable returns, regardless of market fluctuations, providing safe and consistent growth for your investments.
•  Life Cover: Gives your family the financial security of having life insurance for the full term of the policy in the event of your unfortunate death.
•  Tax Benefits
  • The payments of premiums made in this plan are subject to deductions as provided in Section 80C of the Income Tax Act.
  • Benefits received under the plan are tax-free under Section 10(10D).
•  Flexible Payout Options: You can choose between a Lump Sum Benefit or a Regular Income Benefit (Guaranteed Annual Payouts).

Benefits of the Ageas Federal Guaranteed Wealth Plan

Ageas Federal Guaranteed Wealth Plan has a number of advantages:

1. Maturity Benefit

   Under the Lump Sum Benefit option, the Maturity Sum Assured is payable on survival till the end of the policy term. Under the Regular Income Benefit option, guaranteed annual payouts are paid from the end of the 8th policy year till maturity, and no separate lump sum is payable at maturity.

2. Death Benefit

   In case of death during the policy term, the nominee receives the Death Sum Assured, which is the highest of:

   • Guaranteed Sum Assured on Maturity (where applicable),
   • 10 times the Annualised Premium,
   • 105% of Total Premiums Paid, or
   • The absolute amount assured on death.

   The policy terminates upon payment of the death benefit.

3. Surrender Benefit

   Under the Ageas Federal Life Investment Plans, the policy acquires a surrender value after completion of the first policy year, provided one full year’s premium has been paid. The surrender value payable is the higher of the Guaranteed Surrender Value (GSV) or Special 

Policy Details of Ageas Federal Guaranteed Wealth Plan

The following are the policy details of the Ageas Federal Guaranteed Wealth Plan: 

1.  Grace Period

   The policy offers a one-month grace period after the date of payment of each premium. Your policy is still in force, and benefits are on payment in the event of death. In the case of death falling within the grace period, the death benefit will be subject to the deduction of the premium due.

2.  Revival

   Failure to make premiums, you may revive the policy within five successive years from the date of the first unpaid premium by paying the arrears together with interest.

3.  Free Look Period

   You can take a look at the policy conditions for 30 days without any payment. You also have the option of refunding the policy with some charges deducted in case you are not satisfied with any of the terms.

4.  Surrender

   In case you would also like to quit the policy prior to the maturity date, you can decide to surrender the policy. After one year of premium payment, the policy will get a surrender Value. The Special Surrender Value (SSV) or the Guaranteed Surrender Value (GSV) will be the Surrender Value.

5.  Loan

   The policy can avail a loan when it has gained a surrender value. Loans are normally provided to a maximum of 85% of the assured value of the amount surrendered.

Exclusions Under the Ageas Federal Guaranteed Wealth Plan

1.  Suicidal Cover

   The nominee will get 80% of the premiums paid or the surrender value available, whichever is greater, in case of death caused by suicide within 12 months of the commencement date or revival of the policy.

2.  Total Permanent Disability (TPD)

   The disability or injuries unrelated to life insurance are not included in the plan, unless an additional rider is taken.