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Ageas Federal life Insurance launches its new assured income plan

The plan will offer guaranteed annual income to fulfill the monetary requirements of an individual and their family’s recurring lifetime needs while building a financial safety net.

Ageas Federal Life Insurance, one of India’s most trusted private life insurance companies, today announced the launch of its Assured Income Plan, a non-linked, non- participating, savings plan for individuals.

The product is designed to protect the family’s future to ensure that they lead their lives comfortably without any financial worries, even in the policy holder’s unfortunate absence.

The plan offers guaranteed financial payouts that help to achieve dream goals at different stages of life, be it preparing for the child’s future, getting ready to start your aspirational business, or planning for a comfortable retirement. 

Catering to customers with different mindsets and requirements, the plan offers the flexibility to choose from three plan options – Short Term IncomeLong Term Income and Lifelong Income

The plan pays a survival benefit in the form of Guaranteed Regular Income (GRI) for a fixed period of 10 years in the case of the Short Term Income option, and for 25 or 30 years (depending on the premium payment term chosen) under the Long Term Income option.

For the Lifelong Income option, the survival benefit in the form of GRI is paid till age 100 years of the life assured.

For all three plan options, a lumpsum benefit called the Guaranteed Maturity Booster is paid out at the end of the income payout period.

In case of the unfortunate death of the life assured during the policy term, the death benefit shall be payable immediately in lump sum to the nominee.

“In this current economic scenario, we see that individuals prefer guaranteed products with stable income that is not impacted by market volatilities and fluctuating interest rates. To cater to this demand, we have introduced our Assured Income plan which offers individuals an attractive combination of protection and guaranteed payouts to help them fulfil their goals and requirements at different stages of life.”

Assured Income Plan, Mr. Karthik Raman, CMO and Head-Products Ageas Federal Life Insurance said, 

“Considering that unfortunate circumstances can hit us at any time in life, our Assured Income plan provides life cover even during the income payout period. This is aimed at giving our customers and their families the confidence to sail through uncertain times fearlessly!”

 Raman added.

Ageas Federal Life Insurance

Ageas Federal Life Insurance is one of India’s growing life insurance companies and offers a diverse range of wealth management, protection, and retirement solutions to individual and corporate customers. Ageas Federal Life Insurance Co Ltd is a joint venture of Ageas, a multinational insurance giant based out of Europe, Federal Bank, one of India’s leading private sector banks and IDBI Bank, India’s premier development and commercial bank. 

Having commenced operations in 2008, Ageas Federal was able to achieve breakeven within just five years; the Company’s passion for innovation and growth helped it achieve this feat. Through a nationwide network of 3,200+ branches of Federal Bank and IDBI Bank, and a sizeable network of advisors and partners, Ageas Federal Life Insurance has achieved presence across the length and breadth of the country.
As of March 31, 2022, the Company has issued over 15 lakh policies with a sum assured of over Rs. 1,20,544 crores. Ageas Federal Life Insurance has total assets under management of over Rs. 13,907 crores and a robust capital base of over 800 crores as of March 31, 2022. 
This article was shared with Prittle Prattle News as a Press Release.
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