The Business Bytes
TBB BUREAU
MUMBAI, OCT 16, 2023
One of India’s leading private life insurance firms, Ageas Federal Life Insurance (AFLI) on Monday announced the launch of ‘Ageas Federal Life Insurance Super Cash Plan’ – a non-linked, participating savings plan for retail customers. This unique plan offers the optimal combination of immediate liquidity and unwavering financial stability for the family, making it an efficient option for people seeking a stable income as well as financial protection.
“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,” said Vighnesh Shahane, MD & CEO of Ageas Federal Life Insurance.
“We aim to address the diverse needs of our policyholders through this plan, which can be tailored to their unique financial requirements, thus allowing them to live #FutureFearless,” Shahane added.
The plan offers immediate liquidity through regular income which could start as early as the first month of the policy, depending on when the policyholder has opted to receive returns. Additionally, the plan provides guaranteed boosters after every fifth policy year designed to enhance savings. The policyholder also receives a lump sum maturity benefit at the end of the policy term.
Ageas Federal’s Super Cash Plan allows the policyholders to defer Survival Benefit payouts to a chosen special date. It also offers Uninterrupted Income Benefit (UIB) – an optional benefit to waive off any future premiums due after the unfortunate demise of the life assured. There is another optional benefit where the policyholder has the option of utilizing the survival benefits to offset the premiums due during the premium payment term.
an aim to drive life insurance penetration, the plan offers female purchasers, an increase of upto 12 per cent on the sum assured on maturity depending on the premium payment term.
Policyholders are also offered additional benefits, especially if the annualized premium exceeds Rs 3 lakh.
Ageas Federal Life Insurance which comes with Immediate Income and SUPER benefits is a plan that suits every life stage. It could help with one’s regular expenses, help in building a corpus for life goals and lets one save regularly.
The plan also offers possible tax savings on premiums paid and benefits received, which adds to its attractiveness.
