Ageas Federal Life Insurance Smart Growth Plan (UIN: 135L053V03)
Features
- Life Protection with Market linked returns - Life cover to support your family’s financial requirement in times of need along with opportunity to build a corpus through market linked returns.
- Choice of regular and limited premium paying terms - You have the flexibility to pay premiums for a limited period or till the end of policy term.
- Flexibility to manage your investment based on your risk appetite - You can stay in complete control of your investments with the flexibility to choose from 6 investment fund offerings that allow you to invest your money as per your risk-return appetite.
- Boost your fund value with Loyalty Additions as a reward for staying committed for a longer term.
- Get tax benefits of Sec 80C and Sec 10(10D):
- Deduction under section 80C: The premiums that you pay may be eligible for deduction under section 80C of the Income Tax Act, 1961. For the Financial Year 2018 – 19 deductions can be claimed under Section 80CCE up to Rs. 1,50,000 for the total payments, contributions made under Sections 80C, 80CCC and 80CCD.
- Tax-free benefits under section 10(10D): The benefits received under the plan are exempted from Income Tax under section 10(10D) of the Income Tax Act, 1961.
You are advised to consult your tax advisor for details. Please note that tax laws may change from time to time.
Eligibility Criteria
| Criteria | Minimum | Maximum |
|---|---|---|
| Age at entry | 1 month# | Option 1 - Prime – 55 years Option 2 - Plus – 45 years |
| Age at maturity | 18 years | Option 1 - Prime – 70 years Option 2 - Plus – 60 years |
| Policy Term | 10 / 15 / 20 / 25 years | |
| Premium Paying Term (PPT) | Policy Term 10 & 15 - 5 years For all Policy Terms - 10/15/20 years |
|
| Premium amount | PPT 5 years - Rs. 50,000 annually PPT 10 /15 /20 years – Rs. 35,000 annually |
No Limit |
| Premium Payment Frequency | Annual | |
All ages are as per last birthday
#Only Parent or Legal guardian can be the Policy holder, in case where Life Assured is a minor