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Ageas (IDBI) Federal Life Insurance Company India

Ageas Federal Life Insurance formerly known as IDBI Federal Life Insurance Co Ltd is one of the rapidly growing life insurance organizations in India. The company provides a wide range of retirement, wealth management, and protection solutions to corporate customers and individuals. Ageas Federal Life Insurance Co Ltd is a joint venture of IDBI Bank, India’s premier commercial and premier development bank, and Federal Bank, a leading bank of India in the private sector, and Ageas, a multinational insurance company of Europe.

IDBI Federal life insurance was formerly known as IDBI Fortis Life insurance. The company pride in a good envelope of offering its customer's wealth management, protection, and retirement solutions. The claim settlement ratio of the company is 91.99%.

Benefits of Ageas Federal Life Insurance:

  • Tax benefits under section 80c and section 10(10D)
  • Discounts for female lives and non-smokers
  • Hassle-free claims
  • No medical check-up required
  • Covers covid-19
  • Life coverage till 99 years of age.

Documents Required Buying Ageas Federal Life Insurance Plans:

While applying for Ageas Federal life insurance the documents required are:-

  • Age Proof
  • Proposal form
  • Identity Proof
  • Address Proof
  • Income Proof

Claim Process of Ageas Federal Life Insurance:

The claim process of Ageas Federal life insurance is an easy, quick, and hassle-free process. The company claims death benefits without any delay in the process. Check the status at the official website of IDBI Federal Life Insurance or call toll-free: 1800 209 0502.

  • Register a death claim by submitting a death claim form, original policy documents, death certificate issued by the municipal corporation, photo ID and residential proof, nominee’s bank account, etc.
  • The claims will be settled within 8 working days when you submit the above documents
  • After that, the claim pay-out amount shall be transferred to the nominee’s account.

Types of Ageas Federal Life Insurance Plans:

1.) Term Plans:

Life Insurance coverage with term plans and gives financial security to your family’s future in case of an unfortunate demise of the policyholder.

i. Ageas Saral Jeevan Bima:

A pure protection plan is a simple way to get comprehensive protection at affordable prices, protect yourself and family at unfortunate events.

Features:

  • Life covers providing financial security for your family
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Tax benefits and grace period
  • Maturity and death benefits

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 70 years
  • Policy Term: 5 to 40 years
  • Sum Assured: Rs. 5 lakhs p.a
  • Premium Payment Period: Yearly, half-yearly, and Monthly.

ii. Ageas MyLife Protection Plan:

A pure protection plan is a simple way to get comprehensive protection at affordable prices, protect yourself and family at unfortunate events. And also gives discounted premium rates for females and non-tobacco users.

Features:

  • Life covers providing financial security for your family in regular basics
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Tax benefits
  • Maturity and death benefits

Eligibility:

  • Entry Age: 21 years
  • Maturity Age: 65 years
  • Policy Term: 10 years
  • Sum Assured: Rs. 50 lakhs p.a
  • Premium Payment Period: Yearly, and Monthly.

iii. Ageas Income Protect Plan:

A non-linked non-participating term insurance plan safeguard with assured monthly income. A term plan which helps you secure your family’s financial future in your absence.

Features:

  • Life covers providing financial security for your family
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Tax benefits
  • Maturity and death benefits

Eligibility:

  • Entry Age: 25 years
  • Maturity Age: 70 years
  • Policy Term: 10 to 30 years
  • Sum Assured: Rs. 15k p.m
  • Premium Payment Period: Yearly, and Monthly.

iv. Ageas Termsurance Life Protection Plan:

This plan safeguard with assured monthly income. A term plan which helps you secure your family’s financial future in your absence.

Features:

  • Multiple Life covers to provide financial security for your family
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Tax benefits
  • Maturity and death benefits

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 70 years
  • Policy Term: 10 to 30 years
  • Sum Assured: Rs. 5 lakhs p.a
  • Premium Payment Period: Annual, Yearly, half-yearly, and Monthly.

2.) Child Plans

The child plans by IDBI Federal help you build a healthy financial future for your child by helping you invest in best plans that provide economic support to your child at every key stage of their life.

i. Ageas Young Star Plus Plan:

This plan is a life insurance plan that helps you align your savings towards financially securing and supporting your loved one’s future. The plan keeps you committed to regular savings and boosts with guaranteed additions and bonus contributions. It provides guaranteed pay-outs it ensures that your loved one’s dreams stay financially safe even in case of your unfortunate absence.

Features:

  • Life covers providing financial security for your family
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Tax benefits
  • Maturity and death benefits

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 65 years
  • Policy Term: 7 to 20 years
  • Sum Assured: Rs. 20k p.a
  • Premium Payment Period: Annual, Yearly, and half-yearly

ii. Ageas Dream Builder Plan:

An insurance plan that offers life covers as well as guaranteed payouts to fulfill your dreams.

Features:

  • Life covers providing financial security for your family
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Pay only for the first 8 years of the policy
  • Tax benefits
  • Maturity and death benefits

Eligibility:

  • Entry Age: 21 years
  • Maturity Age: 31 years
  • Policy Term: 10 to 22 years
  • Sum Assured: Rs. 2 lakhs p.a
  • Premium Payment Period: Annual.

iii. Ageas Wealthsurance Future Star Insurance Plan:

This plan is to cover your child’s future education plan and difficulties with Wealthsurance's future star insurance plan with triple benefits.

Features:

  • Life covers providing financial security for your family
  • Flexibility to choose your policy term and premium payment term.
  • Lump-sum pays out to take care of your liabilities
  • Enjoy Education Support benefit
  • Tax benefits
  • Maturity and death benefits

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 70 years
  • Policy Term: 10 to 25 years
  • Sum Assured: Rs. 5 lakhs p.a
  • Premium Payment Period: Annual.

3.) Retirement Plans:

These pension plans get financial security in retirement without any compromise on your standard of living with our retirement solutions.

i. Ageas Saral Pension Plan:

Ageas Federal Life Insurance Saral Pension helps you prepare a personal annuity plan not only for you but your spouse as well. It offers an option of single life and joint life immediate annuity with a return of premium.

Features:

  • Life annuity with 100% return of purchase price
  • Joint Life Annuity with the return of 100% purchase price on death of the last survivor
  • Guaranteed annuity payout
  • The annuity pays out as convenient.
  • Survival and death benefit.

Eligibility:

  • Entry Age: 40 years
  • Maturity Age: 80 years
  • Policy Term: the whole of life
  • Sum Assured: Rs. 12k p.a
  • Premium Payment Period: single.

ii. Ageas Guaranteed Lifetime Income Plan:

Ageas Federal Life Insurance Guaranteed Life Income Plan helps you devise a personal annuity plan towards leading a comfortable retired life. The plan offers the option of both immediate and deferred annuity.

Features:

  • Life annuity with 100% return of purchase price
  • Joint Life Annuity with the return of 100% purchase price on death of the last survivor
  • Guaranteed annuity payout
  • The annuity pays out as convenient.
  • Survival and death benefit.

Eligibility:

  • Entry Age: 45 years
  • Maturity Age: 85 years
  • Sum Assured: Rs. 1,50, 000
  • Premium Payment Period: single.

4.) Health Plans

Ageas Heart & Cancer Shield Plan:

A non-linked, non-participating health insurance plan is to protect your savings against any illness or disease.

Features:

  • Comprehensive coverage
  • Tax benefits under sec 80D of Income Tax Act, 1961
  • Income benefit
  • Waiver of premium benefit

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 70 years
  • Sum Assured: Rs. 10 lakhs
  • Premium Payment Period: yearly
  • Policy Term: 5 to 20 years.

5.) ULIP Plans

i. Ageas Smart Growth Plan:

A unit-linked insurance plan will help you grow your wealth while protecting your loved ones.

Features:

  • Choice of regular and limited premium paying terms
  • Choose from 6 fund options based on your risk appetite
  • Tax benefit may be available under sections 80(c) and 10(10D).
  • Maturity and death benefit.

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 70 years
  • Policy Term: 10/15/20/25  years
  • Sum Assured: Rs. 50k p.a.
  • Premium Payment Period: Annually.

ii. Ageas Wealth Plus Critical Protection Plan:

A non-participating unit-linked life insurance plan follows your passion with wealth accumulation and protection along with an additional critical illness benefit.

Features:

  • The dual benefit of life cover and long term investment returns
  • Enhanced protection offered by critical illness benefit
  • Option to choose premium payment term as per convenience
  • Choose from a wide range of funds as per your risk appetite.
  • Unlimited free switches and premium
  • Tax benefits of sec 80c and sec 10(10D)
  • Maturity, critical illness, and death benefit

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 70 years
  • Policy Term: 10/15/20/25 years
  • Sum Assured: Rs. 1 lakh.
  • Premium Payment Period: Annually.

iii. Ageas Wealth Gain Insurance Plan:

A unit-linked insurance plan that gives your life cover and helps build wealth over the long term and 8 funds to invest from receive guaranteed loyalty additions.

Features:

  • Invest to 8 funds
  • Receive guaranteed loyalty additions
  • Avail tax benefits
  • Provides flexibility to manage investments
  • Maturity, death, and tax benefits.

Eligibility:

  • Entry Age: 18 years
  • Maturity Age: 74 years
  • Policy Term: 10/15/20 years
  • Premium Payment Period: Yearly, and Monthly.

6.) Savings Plans

i. Ageas Guaranteed Savings Plan:

A non-linked, non-participating life insurance plan brings your family closer to their dreams with guaranteed returns irrespective of market conditions.

Features:

  • Pay premiums only once
  • Guaranteed returns irrespective of market conditions
  • Policy term to meet your financial milestones
  • Tax benefits under sec 80c and sec 10(10D) of the income tax act.
  • Maturity and death benefit.

Eligibility:

  • Entry Age: 2 years
  • Maturity Age: 55 years
  • Policy Term: 7/10 years
  • Premium Payment Period: single.

ii. Ageas Guaranteed Income Plan:

A non-participating non-linked life insurance plan is a quick, hassle-free life insurance plan with guaranteed pay-outs.

Features:

  • Flexibility to choose premium payment term and policy term of one’s choice
  • Guaranteed benefit irrespective of market conditions
  • Tax benefits of sec 80c and sec 10(10D).

Eligibility:

  • Entry Age: 8 years
  • Maturity Age: 65 years
  • Policy Term: 5/10/15 years
  • Premium Payment Period: Yearly.

iii. Ageas Guaranteed Wealth Plan:

A long-term life insurance plan comes with a component of savings that assures you of guaranteed returns on your investment.

Features:

  • The flexibility of paying only for the first 7 or 10 years of policy
  • Receive guaranteed benefits as a lump sum or regular income
  • Tax benefits under sec 80 c and sec 10(10D) as per Tax law.
  • Get your family financially secure with a life cover for 14 or 20 years.
  • Maturity and death benefit.

Eligibility:

  • Entry Age: 10 years
  • Maturity Age: 55 years
  • Policy Term: 14 and 20 years
  • Sum assured: Rs. 35,000
  • Premium Payment Period: Yearly.

iv. Ageas Secured Income Plan:

Ageas secured income plan is to invest for 10 years and then enjoy a guaranteed annual income for the next 10 years along with life insurance cover.

Features:

  • Pay a premium for 10 years and get regular annual income for the next 10 years
  • Receive enhanced protection with total and permanent disablement feature
  • Enjoy added guaranteed assured for high premium policies.
  • Life cover for 20 years
  • Boost savings with guaranteed bonus additions
  • Tax benefits on your plan.
  • Death, Income, Maturity, Enhanced protection in case of disablement, and after premium payment term.

Eligibility:

  • Entry Age: 8 years
  • Maturity Age: 70 years
  • Policy Term: 10/20 years
  • Sum assured: Rs. 35,000
  • Premium Payment Period: Yearly.

7.) Group Insurance Plans

Group Plans What is it? Entry & Maturity Age Sum Assured Policy Term & Premium payment period Benefits
Ageas Group Term Life Plan This group insurance plan is designed to provide life insurance cover to employees/members at low cost for formal and informal groups. 18 to 79 years Rs. 5000 per member Yearly Death, Maturity, and flexible premium payments
Ageas Group Loan Suraksha Plan This group loan Suraksha plan is a single premium group credit life insurance plan that contains single life, joint cover options available. 15 to 65 years Rs. 50k for death Single premium Death, maturity, surrender, and tax benefits.
Ageas Group Employee Benefit Plan In this plan the investment risk platform to earn market-linked returns and life insurance coverage for employees. 18 to 80 years Rs. 5000 Yearly, half-yearly, monthly, and quarterly. Death, withdrawal, and investment options.
Ageas Group Microsurance Plan A group insurance plan that provides affordable life insurance cover to groups. Best suited for microfinance institutions, self-help groups, and NGOs. 18 to 65 years - 5 years Get affordable protection and hassle-free issuance. Death benefits and receives wider coverage.
Ageas Group Loan Secure Plan This plan secures your group's happiness by safeguarding the loan liability. 18 to 65 years -  2 / 30 years 1-time payment, single & joint life cover, and flexibility to cover the loan amount. Level death benefit and reducing death benefit.

FAQ's of Ageas Federal Life Insurance

How to do IDBI Federal Life Insurance Policy Document Download?

For downloading the IDBI Federal life insurance policy document login to the website by entering required details such as Policy Number, Name, and Phone number, etc. Go to Policy Document download options as Premium Receipt, Premium Notice, Unit Statement, Premium Paid Certificate, and GST Invoice. Select which policy document to download and print.

How Can I Check Ageas Federal Life Insurance Policy Details With Policy Number?

You can check Ageas Federal life insurance policy details with policy numbers easily in simple steps

  • Step1: Visit the official website of Ageas Federal Life Insurance
  • Step2: Click on the Login portal by entering the details such as register email id, mobile number, user id, etc.
  • Step3: OTP will receive the registered mobile number
  • Step4: After successful login, enter the policy number. You can check the policy details displayed on the screen.

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