Ageas Federal Life Insurance, one of India's most trusted private life insurance companies, today announced the launch of its Ageas Federal Life Insurance Life Advantage Plus Plan, a non-linked, participating, individual life, savings insurance plan.
Ageas Federal Life Insurance Life Advantage Plus Plan is a comprehensive life insurance plan that offers an attractive combination of protection and savings to help policyholders fulfil their goals such as child's higher education, marriage or even retirement planning. The plan helps the policyholder remain committed to regular savings and enhances the savings with maturity boosters and likely bonus contributions.
The plan comes with a life cover as it recognizes that guarding one's family's happiness is of paramount importance and it therefore helps fulfil this responsibility even in the absence of the bread winner.
Key Benefits of the plan:
- Maturity boosters to enhance one's savings
- Bonuses when declared help build-up the corpus
- Choice of policy terms and premium paying terms to suit individual needs
- Security for the family through Life Cover
- Tax benefits on premiums paid and benefits received as per tax laws
Commenting on the launch of the plan, Mr. Karthik Raman, CMO & Head - Products, Ageas Federal Life Insurance said, "Given the unprecedented economic uncertainty, we have observed that people want to build adequate wealth to achieve their dreams along with ensuring financial protection so that their family lives a #FutureFearless life. Our newly launched Ageas Federal Life Insurance Life Advantage Plus Plan is an apt solution designed to address this need. The plan ensures that the savings for the loved ones remain secure and protected."
The policyholder has the option of choosing the right combination of policy term and premium paying term, as per their needs and goals. The plan rewards the policyholder by paying back upto 25% of the annualized premium in the form of guaranteed Maturity Boosters, every year starting from the 5th policy year till the end of the premium paying term, provided all due annualized premiums are paid. The vested maturity boosters are paid as a part of the death benefit, surrender or maturity benefit, as the case may be. From the 1st policy year onwards, the plan also participates in the profits of the participating policyholders' life fund by ways of bonuses.