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Ageas Federal Termsurance Group Insurance Plan

Ageas Federal Term Insurance Group Insurance Plan is a pure term plan designed specifically for groups providing insurance benefits to its members at a minimal cost.

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Key Features

It is a yearly renewable pure term plan.
Groups can avail the plan like employer-employee, banks, and its customers, professional groups, affinity groups, etc. for covering its members
A Master Policy held by the group’s head is issued, covering the members for a pre-determined amount.
Premiums can be paid either by the group or by individual members.
The plan provides a hassle-free application process, and older members can also be covered.
The premium for new entrants is calculated on a pro-rata basis.

Benefits

The nominee gets the Sum Assured on the death of the policyholder during the term of the plan.
There is an inbuilt Accidental Death Benefit and Terminal Illness Benefit for 5000-50 lakhs cover under which the additional benefit is paid in case of accidental death or on the diagnosis of the terminal illness.
Income tax benefit on the premium paid by the members as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act. If the group master policyholder pays premiums, it is exempt under Section 37.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	15 years for non-employer-employee groups & 18 years for employer-employee groups	69 years
Maturity Age (Last Birthday)	16 years for non-employer-employee groups & 19 years for employer-employee groups	70 years
Size of the group	50 members	No limit
Premium Payment Frequency	Annual, half-yearly, quarterly, monthly
Sum Assured	5000	No limit

Policy Details

Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other modes.
Policy Termination or Surrender Benefit: the policy cannot be surrendered.
Free look period: If you would not be pleased with the policy's coverage and terms and conditions, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

There are two inbuilt riders of Accidental Death Benefit and Terminal Illness benefit.

Exclusions

For the Accidental Death benefit rider, accidents due to drug abuse, self-inflicted injury, war or civil commotion, criminal acts, aviation, etc. are excluded
For the Terminal Illness benefit, illness due to HIV infection, service in armed forces, participation in racing or scuba diving, self-inflicted injuries, congenital diseases, alcohol influence are excluded.

Documents Required

The policyholder has to fill up an 'Application form/ proposal form' with an accurate medical history and every group member's details.

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Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

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