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Ageas Federal MyLife Protection Term Insurance Eligibility

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Highlights
Claim Settlement Ratio95.07%
Death Benefit Paid For1,366 Policies
Inception2008
Presence3,000 Branches
Total Death Benefit PaidRs. 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

Ageas Federal MyLife Protection Plan Brochure

  • 384.29 KB
  • PDF Document
  • Sep 01, 2021

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