Ageas Federal MyLife Protection Term Insurance Benefits

Ageas Federal MyLife Protection Plan Benefits

The list of major benefits under Ageas Federal MyLife Protection Plan includes:

Death Benefit: In case of the unfortunate death of the life insured during the policy term, a death benefit is paid in the form of a lump sum to the beneficiary. The condition associated with the benefit is that the policy must be in force during the death of the policyholder. After the death benefit is paid to the nominee, the policy terminates. It must be noted that the death benefit to be paid depends on the life cover option selected by the policyholder during the policy inception.

For limited and regular pay option, the death benefit is the highest of:

• 10 times the annualized premium
• 105% of total premium paid ill the date of death;
• Any absolute amount assured to be paid on death.

For single pay option, the death benefit is the highest of:

• 1.25 times the single premium
• Any absolute amount assured to be paid on death.