Ageas Federal Life Insurance
Wealthsurance Growth Insurance Plan SP II
This is what we offer with the plan
Pay premium only once
Flexibility to choose from 6 funds and switch among funds
Get loyalty additions to boost your fund value
Facility to increase or decrease life cover as per changing needs
Tax Benefits may be available on the premium paid and benefits received as per prevailing tax laws
-
Death benefit
In case of death of the Life Assured during the policy term provided the policy is in force, the below Death Benefit will be paid to the claimant:
Higher of
• Death Sum Assured, or
• The Fund Value 1 or
•105% of the Single Premium 2 received
1Fund Value will be as on the date of valid notification of the death to us,
2“Single Premium” is the premium paid in lumpsum by the policyholder at the inception of the policy, excluding the taxes, rider premiums and underwriting extra premium on riders, if any.
-
Maturity benefit
On survival of the Life Assured till the date of Maturity, Fund Value including Loyalty Additions shall be paid on the date of Maturity, provided the policy is in force.
-
Settlement option
Option to take maturity proceeds in periodic instalments within a maximum period of 5 years from the date of maturity.
Know the eligibility for this plan
| Eligibility Criteria | Minimum/ Maximum | Wealthsurance SP II | ||
| Age at entry | Minimum | 1 month completed | ||
|---|---|---|---|---|
| Maximum | 70 years | |||
| Maturity age | Minimum | 18 years | ||
| Maximum | 76 years | |||
| Policy Term | Fixed options | 6 years / 10 years/ 15 years/ 20 years/ 25 years | ||
| Premium paying term | Single premium | |||
| Premium | Minimum | Rs 50,000 | ||
| Maximum | No Limit (subject to Board approved underwriting policy) | |||
| Death Sum Assured |
|
|||
Note
1. All ages are as per last birthday
2. In case of minor lives being Life Assured, the minimum Policy Term shall be calculated as follows: Maximum of (6 years, 18 years less entry age); Rounded up to nearest available policy term.For example, Life Assured Entry Age = 6 years (Age Last Birthday), Minimum Policy Term is 18 years – 6 years = 12 years, rounded up to the nearest available term i.e.15 years
UIN 135L082V02
