Ageas Federal Term Insurance: Overview
Ageas Federal Life Insurance is a joint venture between Ageas and Federal Bank. It offers multiple term insurance plans designed to provide financial security and family protection.
Ageas Federal Term Insurance plans help you secure your family and offer financial security in case of your untimely demise. Ageas Federal Life Insurance offers 4 term insurance plans to suit your different needs: Termsurance Life Protection, Income Protect, Saral Jeevan Bima, and iSecure Plan. The Ageas Federal term plan offers key features such as return of premium, income options in case of death, additional discounts, and tax benefits (T&Cs apply).
Key Features of Ageas Federal Term Plans
- Return of premium
- High sum assured discount
- Life cover at affordable premiums
- Tax benefits under Section 80C or 10(10D)
- Special premium rates for women
- Increased sum assured option
- Monthly income benefit
- Optional accidental death benefit
Why Choose Ageas Federal Term Insurance?
High Claim Settlement Ratio
Ageas Federal Life Insurance recorded a CSR of 98.52% for FY 2024-2025, indicating efficient claim resolution.
Strong Solvency Ratio
With a solvency ratio of 2.70 (IRDAI 2023-2024), Ageas Federal demonstrates strong financial stability.
Easy Online Purchase
Purchase Ageas Federal term plans conveniently online through their official website or PolicyX.com.
Significant Tax Benefits
Avail tax savings under Section 80C and Section 10(10D) of the Income Tax Act, 1961, with Ageas Federal term plans.
Eligibility Criteria for Ageas Federal Term Insurance Plans
To purchase an Ageas Federal term insurance plan, certain eligibility criteria must be met:
- Age: Individuals between 18 and 65 years are eligible. The policyholder's age is a key factor in determining the premium.
- Health Condition: Most insurers require a health examination to assess the policyholder's current health and inherent risks. Honesty about health and medical history is crucial to avoid claim settlement issues.
- Income: While there's no specified minimum income, bank statements and salary slips may be requested to determine the appropriate coverage.
- Smoking Habits: Disclosure of smoking habits (past or present) is mandatory, as smokers face higher health risks like lung cancer.
- Citizenship: Indian citizens can purchase a plan in India. NRIs or PIOs can also avail benefits of a term insurance plan in India.
Additional Benefits Offered by Ageas Federal Life Term Insurance Plans
Return of Premium Benefit
If the policyholder survives the policy term without making a claim, all premiums paid are returned as a survival benefit.
Life Stage Cover
This feature allows you to increase your sum assured at key life stages like marriage, childbirth, or taking a loan.
Accidental Death Benefit
The accidental death benefit provides an additional payout over the base cover in case of death due to an accident.
High Sum Assured Discount
Receive an additional premium discount for a high sum assured of ₹10 lakhs or more.
Increasing Monthly Income
This option provides monthly installments that increase over time to counter inflation, ensuring adequate coverage for your family as the cost of living rises.
Types of Ageas Federal Life Term Insurance Plans
Ageas Federal offers various term insurance plans based on their features. You can choose the one that best suits your requirements.
Basic Term Plan
Plan Name: Ageas Federal Income Protect or Ageas Federal Saral Jeevan Bima
A lump sum death benefit is payable to the nominee in case of the life insured's untimely demise.
Term Plan with Return of Premium
Plan Name: Ageas Federal Termsurance Life Protection or Ageas Federal iSecure plan
All premiums paid are returned at maturity if you outlive the policy tenure.
Riders You Can Avail With Ageas Federal Term Insurance Plans
You can avail various riders with Ageas Federal term insurance plans as per your needs.
| Name of the Rider |
Benefits |
| Ageas Federal Accident Care Rider |
Protection against accidental death and a range of accident-related benefits. Provides 2X benefit for death due to airplane or train accidents. |
| Ageas Federal Critical Shield Rider |
Covers up to 50 critical illnesses. Offers flexible rider sum assured with two variants. |
| Ageas Federal Linked Accident Rider |
Protection against accidental death and a range of accident-related benefits. |
Documents Required to Buy Ageas Federal Life Term Policy
Here are the documents required to buy Ageas Federal Life Term Plans:
- Photo ID Proof: Any one: Passport, Aadhaar card, PAN card, Driving license.
- Age Proof: Any one: Passport, Aadhaar card, PAN card, Driving license.
- Address Proof: Any one: Utility bill, passport, voter ID, ration card.
- Medical Records: Medical records of the policyholder (if requested).
- Income Proof: Any one: Bank statement, last three months' salary slips (for salaried individuals).
How to Calculate Ageas Federal Term Insurance Premiums
- Step 1: Visit the official website of Ageas Federal Life Insurance.
- Step 2: Click on 'Calculate Premium' and fill out the form.
- Step 3: Enter details such as your name, gender, date of birth, email, and mobile number.
- Step 4: Proceed to pay via Net Banking, Debit, or Credit Card.
- Step 5: Receive the policy document in your registered email ID.
How to File an Ageas Federal Life Term Plan Claim
You can easily initiate the claim settlement process for Ageas Federal Life term plans through online or offline methods. Understand the process below:
Online Process
- Claim Initiation: The nominee must inform the insurer about the life insured's death as soon as possible. Submit the duly filled Ageas Federal term insurance claim form along with all necessary documents.
- Claim Verification: Upon submission, a dedicated claims team will verify the documents. If additional documents are required, a representative will contact the nominee for further processing.
- Claim Settlement: After document verification, the insurer will process the claim and credit the amount to the nominee's registered bank account. Ageas Federal aims to settle claims within 8 working days from the date of receiving all required documents.
Offline Process
The nominee can visit the Ageas Federal Life Insurance head office or any branch to register a term insurance claim. Submit a duly filled claim form and required documents at the helpdesk. The Ageas Federal Life Insurance claims department processes the claim after document verification. You can locate the nearest branch office using the Ageas Federal branch locator.
How to Buy Ageas Federal Term Insurance on PolicyX.com
- Step 1: Visit PolicyX.com and click on the 'Buy Now' option.
- Step 2: Select the 'Term Plans' option and choose a term plan.
- Step 3: Fill out basic details and click 'Proceed'.
- Step 4: You will be directed to a new page to enter details and select a premium payment option.
- Step 5: Proceed to pay and receive the policy document on your registered email ID.
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