The non-linked participating savings plan offers benefits of immediate liquidity through regular income, along with other features, such as premium offset and deferring survival benefit to a chosen date
Ageas Federal Life Insurance on October 16, 2023 announced the launch of its new life insurance policy, Ageas Federal Life Insurance Super Cash Plan. It is a non-linked, participating savings plan that offers benefits of immediate liquidity through regular income.
According to the insurer, this plan offers the optimal combination of immediate liquidity and financial stability for the family, thus making it an efficient option for people seeking a stable income as well as financial protection. This regular income could start as early as the first month of the policy, depending on when the policyholder has opted to receive returns, the insurer in a press statement.
Features
The plan comes with following features.
Save The Date - This feature allows the policyholders to defer survival benefit to a chosen special date.
Uninterrupted Income Benefit (UIB) -This is an optional benefit to waive off any future premiums due after the demise of the life assured. A lump sum benefit is immediately paid to the nominee while the policy benefits continue and are paid as per schedule.
Premium Offset - This is another optional benefit where the policyholder has the option of utilising the survival benefits to offset the premiums due during the premium payment term.
The policy also offers exclusive benefits to women by increasing the sum assured on maturity to up to 12 per cent depending on the premium payment term.
The policy also offers a rebate on the high sum assured or premium. Policyholders are offered additional benefits, especially if the annualised premium exceeds Rs. 3 lakh.
The plan also provides guaranteed boosters after every fifth policy year, which is designed to enhance savings. The policyholder will also receive a lump sum maturity benefit at the end of the policy term, the insurer said.
“We are thrilled to introduce the Ageas Federal Life Insurance Super Cash Plan which is set to offer a realm of SUPER benefits for your family’s security and prosperity. Moreover, the plan starts providing you returns as soon as the first policy month itself, making it a smart solution for your financial needs. “We aim to address the diverse needs of our policyholders through this plan, which can be tailored to their unique financial requirements,” said Vighnesh Shahane, managing director and CEO, Ageas Federal Life Insurance.