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Ageas Federal MyLife Protection Term Insurance Eligibility
Highlights
Claim Settlement Ratio | 95.07% |
Death Benefit Paid For | 1,366 Policies |
Inception | 2008 |
Presence | 3,000 Branches |
Total Death Benefit Paid | Rs. 63.27 Crore |
Ageas Federal MyLife Protection Plan Features
Some of the major features under the plan are:
- More for Less: The plan provides an extensive life cover for a relatively small premium amount.
- Flexibility: The policy comes with the flexibility to choose the policy term as well as premium payment term as per one’s requirements.
- Premium Payment Options: Under the policy, the policyholder can pay premium just once or for a limited period, or throughout the policy term.
- Multiple Coverage Options: The policy comes under three life cover options to cater to the varied needs of the policyholders.
- Enhanced Protection: The policyholder can extend their protection with the help of an optional cover such as the Accidental Death Benefit Rider.
- Discounted Premium Rates: The policy comes at a discounted premium price for females, non-tobacco users, and marathon runners.
- Tax Benefits: The policy provides tax benefits on premiums paid and benefits received as per the prevailing tax laws.
Ageas Federal MyLife Protection Plan Eligibility Criteria
The eligibility criteria for Ageas Federal MyLife Protection Plan is as follows:
PARAMETER |
LIMITS |
Minimum age at entry |
21 years |
Maximum age at entry |
65 years |
Maximum age at maturity |
85 years |
Policy Term |
10 years to 85 minus entry age years |
Minimum Basic Sum Assured |
Rs. 50 Lakh |
Maximum Basic Sum Assured |
No limit (as per board approved underwriting policy) |
Premium Paying Term |
Single Pay, Regular Pay, Limited Pay |
Premium Paying Frequency |
Yearly & Monthly |
Key Inclusions and Exclusions of the Plan
What's Included
- Death benefit
- Extensive life cover
- Multiple cover options
- Optional cover of Accidental Death Benefit
- Tax benefits
What's Not Included
- Death due to suicide within 12 months of policy inception
- Participation in criminal or unlawful act
- Injuries resulting from war
- Use of intoxicating drugs, alcohol, solvent, etc.
- Nuclear contamination
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Ageas Federal Life Term Insurance Contact Details
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Ageas Federal Life Term Insurance
1800-209-0502Mon to Fri 10:00 AM to 6:30 PM