The Business Bytes
Mumbai, July 5, 2024 (TBB Bureau): Ageas Federal Life Insurance, a trailblazer in the Indian private life insurance sector, has unveiled its latest innovative offering: the Ageas Federal Life Insurance Golden Years Pension Plan, complemented by the Bluechip Pension Fund. This cutting-edge plan is designed to revolutionize retirement planning, ensuring policyholders enjoy a secure, prosperous, and joyful retirement.
The Golden Years Pension Plan is a Unit Linked, Non-Participating, Individual Pension Plan meticulously crafted to provide unparalleled retirement security. It boasts two pioneering features: the Early Investment Booster, incentivizing early retirement planning for individuals aged 18-35 with additional allocations, and the Golden Waiver of Premium, ensuring the accumulation of a robust retirement corpus for policyholders’ loved ones, even after their demise. The plan caters to entry ages of 18-70 years for the Classic Option and up to 60 years for the Golden Waiver of Premium Option.
The Bluechip Pension Fund, an integral part of this offering, invests in a diverse portfolio of listed equities, targeting high returns through strategic investments in established and emerging bluechip stocks with stellar track records. The fund’s diversified approach across multiple sectors makes it a top choice for securing a prosperous retirement.
Khushali Girish, Deputy Vice President & Head of Products at Ageas Federal Life Insurance, expressed her excitement about the launch: “We are thrilled to introduce the Golden Years Pension Plan, a product meticulously crafted to cater to the unique retirement needs of our Indian customers. This plan embodies innovation and a futuristic outlook with features like the Early Investment Booster, which aims to encourage young individuals aged 18 to 35 to start their retirement planning early by providing additional units. The Golden Waiver of Premium option ensures future premiums are waived, thereby safeguarding the retirement plans of the policyholder’s loved ones in case of an unfortunate event. We believe this plan will set a new benchmark in retirement planning and provide peace of mind to countless families across the country.”
The Golden Years Pension Plan also includes a Guaranteed Loyalty Booster, added annually with timely premium payments and an active policy status. Furthermore, the plan enhances its value by returning Premium Allocation charges. In the event of the policyholder’s death, beneficiaries receive 105% of total premiums paid, with future premiums waived under the Golden Waiver of Premium Option.
The Bluechip Pension Fund is introduced with a limited-time offer of a flat NAV of Rs 10 per unit. It invests in equities, reverse repos, treasury bills, and mutual funds, aiming for steady returns through active management, diversification, and a blend of growth and value investing strategies.
With this groundbreaking offering, Ageas Federal Life Insurance sets a new standard in retirement planning, promising robust financial solutions for a secure and joyous retirement. The Golden Years Pension Plan is designed to transform retirement into a chapter of freedom and enjoyment, empowering policyholders to seize every moment of their golden years with confidence and peace of mind.
