Ageas Federal Life Insurance

Ageas Federal Life Insurance Co Ltd. (formerly IDBI Federal Life Insurance Company) started its operation in March 2008. IDBI has now been rebranded as Ageas Federal Life Insurance Company as Ageas Insurance International has increased its stake from 26% to 49% in it. While Ageas holds 49% stake, Federal Bank holds 26% stake. IDBI Bank holds 25% in Ageas Federal Life Insurance. The company is headquartered in Mumbai. The sole reason for their existence is to provide not only excellent service to the clients but also a very safe and good place for the employees to work.

The company reached the Rs. 1000 crore milestone in March 2015. The Claim Settlement Ratio for the FY 2019-20 was 96.47%. In 2018, the company became the only one to settle all its accrued losses and since the past 8 years the company has been reporting a profit. The company was awarded TOP-10 Most Trusted Life Insurance Brands by ET Brand Equity consecutively for the second year and in BFSI 2020, it has been listed among the best workplaces to work. The brand signed Sachin Tendulkar as brand ambassador in September 2018.

Types of Ageas Federal Life Insurance Plans

Ageas Federal Life Insurance offers an incredible range of life insurance policies under different kinds of plans.

• Term Insurance Plans: Ageas Federal Life Insurance has 3 distinct term insurance plans to offer. The plans are designed to protect your family from all financial burdens in an unfortunate demise. The plans are Saral Jeevan Bima, MyLife Protection Plan, Income Protection Plan.
• Savings Plans: Ageas Federal Life Insurance Savings Plans have been designed to store and grow your money, and they return this accumulated and grown value in various patterns of maturity depending upon the plan chosen. The plans also provide a life cover. The 4 plans are Guaranteed Savings Plan, Guaranteed Income Plan, Guaranteed Wealth Plan, and Secured Income Plan.
• Unit Linked Insurance Plans: Ageas Federal Life Insurance has a distinct collection of ULIPs which grow your money through their funds and market links. The 4 plans are Smart Growth Plan, Wealth Plus Critical Protection Plan, Wealth Gain Insurance Plan, and Wealthsurance Growth Insurance Plan SP.
• Child Insurance Plans: Ageas Federal Life Insurance not only takes care of your children in your unfortunate demise but they also provide a lot of their maturity providing ample help during the important points of your child's life. The plans are Young Star Plus Plan, Dream Builder Plan, and Wealthsurance Future Star Insurance Plan.
• Retirement Plans: Ageas Federal Life Insurance offers a retirement plan to ensure steady financial support during your golden period of retirement. The 2 plans are Saral Pension Plan and Guaranteed Lifetime Income Plan.
• Health Plans: Ageas Federal Life Insurance health plan offers a lump sum amount on diagnosis of either cancer or heart issues. The plan is Heart & Cancer Shield Plan.
• Group Insurance Plans: Ageas Federal Life Insurance offers 5 different group plans to cater to the insurance needs of the employers for their employees. The plans are Group Term Life Plan, Group Loan Suraksha Plan, Group Employee Benefit Plan, Group Microsurance Plan, and Group Loan Secure Plan.