Ageas Federal Life Insurance (AFLI) on Tuesday launched the iSecure plan, a family life insurance scheme, available exclusively online, offering a comprehensive protection at affordable cost.
The plan provides policyholders increased financial security based on their needs and preferences. For instance, it provides two optional add-on benefits with an extra cost at the time of buying the policy.
The first is the ‘enhancement of life stage cover’ at various life stages, such as marriage, childbirth, etc., without additional health checks. The company says it will save the policyholder from the hassles of checking different policies separately and possibly helping them evade a higher premium.
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The second optional benefit is the ‘accidental death benefit (ADB)’ where the plan offers additional cover in case of death due to an accident.
Detailing the plan, Karthik Raman, chief medical officer (CMO) and head of products at Ageas Federal Life Insurance, in a press release, said: “Our iSecure plan caters to today’s digitally savvy customer who prefers add-on benefits and desires convenience, flexibility, and efficiency.”
Raman added that Ageas Federal seeks to provide its customers and their loved ones a comfortable life, with a financially secure future and safeguard life’s uncertainties.
Payment Options For iSecure
The iSecure plan comes with three payment options: single payment, limited payment, and regular payment. The policyholder has the choice to select the payment option and the policy term, depending on their personal requirement and preference.
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Besides flexibility in choosing the term, the policyholder has the option to get back all the premiums paid at the end of the term if they survive till maturity of the policy.
These options allow policyholders and their family members, who have diverse responsibilities, ensure their financial security and stability at different stages of their life, which is the main aim of a life insurance policy. Customers can buy the policy online at www.ageasfederal.com.
Policyholders can avail of tax benefits under section 80D of the Income-tax Act 1961 under the old tax regime. This facility, however, is not available under the new tax rule, which is the default tax regime from FY2023-24. As of March 31, 2022, Ageas Federal Life Insurance issued around 15 lakh policies
