Ageas Federal Life Insurance formerly known as IDBI Federal Life Insurance Co Ltd is one of the rapidly growing life insurance organizations in India. The company provides a wide range of retirement, wealth management, and protection solutions to corporate customers and individuals. Ageas Federal Life Insurance Co Ltd is a joint venture of IDBI Bank, India’s premier commercial and premier development bank, Federal Bank, a leading bank of India in the private sector, and Ageas, a multinational insurance company of Europe. Ageas federal life insurance is headquartered in Mumbai, India.
IDBI Federal Life Insurance Company Limited was formerly known as IDBI Fortis Life insurance. IDBI has now been rebranded as Ageas Federal Life Insurance Company as Ageas Insurance International has increased its stake from 26% to 49% in it. While Ageas holds 49% stake, Federal Bank holds 26% stake. IDBI Bank holds 25% in Ageas Federal Life Insurance. The company pride itself on a good envelope of offering its customers’ wealth management, protection, and retirement solutions.
About IDBI Federal Life Insurance Company
| Claim Settlement Ratio |
95.07% |
| Inception |
2008 |
| Branches |
3000 |
| Death Benefit Paid For |
1366 |
| Solvency Ratio |
3.17 |
Benefits of Ageas Federal Life Insurance
- Tax benefits under section 80c and section 10(10D)
- Discounts for female lives and non-smokers
- No medical check-up required
- Covers covid-19
- Life coverage till 99 years of age.
- Hassle-free Renewal, Premium Payment, and Claims Process
Ageas Federal Life Insurance Plans List
- Ageas Federal Life Insurance Online Plans
- Ageas Federal Life Insurance Term Plans
- Ageas Federal Life Insurance Child Plans
- Ageas Federal Life Insurance ULIP Plans
- Ageas Federal Life Insurance Savings Plans
- Ageas Federal Life Insurance Retirement Plans
- Ageas Federal Life Insurance Health Plans
- Ageas Federal Life Insurance Group Plans
Ageas Federal Life Insurance Online Plans
| Plan Name |
Entry Age |
Maturity Age |
Policy Term |
Premium Frequency |
Benefits |
| Ageas Life Advantage Plus Plan |
0 to 55 years |
18 to 75 years |
11, 15, 20 |
Annual Half-yearly |
- Death Benefit
- Maturity Benefit
- Tax Benefit
|
| Ageas Heart & Cancer Shield Plan |
18 years |
70 years |
5 to 20 years |
Yearly |
- Comprehensive coverage
- Tax benefits
- Income benefit
- Waiver of premium benefit
|
| Ageas Guaranteed Income Plan |
8 years |
65 years |
5, 10, 15 years |
yearly |
- Flexibility
- Guaranteed benefit
- Tax benefits
|
| Ageas Wealth Gain Insurance Plan |
18 years |
74 years |
10, 15, 20 years |
Yearly, Monthly |
- Tax benefits
- flexibility to manage investments
- Maturity benefits
- Death benefits
|
| Ageas Wealthsurance Growth Insurance Plan SP |
1 month to 70 years |
75 years |
5, 10, 15 years |
Single |
- Death Benefit
- Maturity Benefit
- Flexibility to withdraw maturity amount in instalments
|
Ageas Federal Life Insurance Term Plans
Life Insurance coverage with term plans and gives financial security to your family’s future in case of an unfortunate demise of the policyholder.
i. Ageas Saral Jeevan Bima:
A pure protection plan is a simple way to get comprehensive protection at affordable prices, protect yourself and family at unfortunate events.
Features:
- Life covers providing financial security for your family
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Tax benefits and grace period
- Maturity and death benefits
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Policy Term: 5 to 40 years
- Sum Assured: Rs. 5 lakhs p.a
- Premium Payment Period: Yearly, half-yearly, and Monthly.
ii. Ageas MyLife Protection Plan:
A pure protection plan is a simple way to get comprehensive protection at affordable prices, protect yourself and family at unfortunate events. And also gives discounted premium rates for females and non-tobacco users.
Features:
- Life covers providing financial security for your family in regular basics
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Tax benefits
- Maturity and death benefits
Eligibility:
- Entry Age: 21 years
- Maturity Age: 65 years
- Policy Term: 10 years
- Sum Assured: Rs. 50 lakhs p.a
- Premium Payment Period: Yearly, and Monthly.
iii. Ageas Income Protect Plan:
A non-linked non-participating term insurance plan safeguard with assured monthly income. A term plan which helps you secure your family’s financial future in your absence.
Features:
- Life covers providing financial security for your family
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Tax benefits
- Maturity and death benefits
Eligibility:
- Entry Age: 25 years
- Maturity Age: 70 years
- Policy Term: 10 to 30 years
- Sum Assured: Rs. 15k p.m
- Premium Payment Period: Yearly, and Monthly.
iv. Ageas Termsurance Life Protection Plan:
This plan safeguard with assured monthly income. A term plan which helps you secure your family’s financial future in your absence.
Features:
- Multiple Life covers to provide financial security for your family
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Tax benefits
- Maturity and death benefits
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Policy Term: 10 to 30 years
- Sum Assured: Rs. 5 lakhs p.a
- Premium Payment Period: Annual, Yearly, half-yearly, and Monthly.
Ageas Federal Life Insurance Child Plans
The child plans by IDBI Federal help you build a healthy financial future for your child by helping you invest in best plans that provide economic support to your child at every key stage of their life.
i. Ageas Young Star Plus Plan:
This plan is a life insurance plan that helps you align your savings towards financially securing and supporting your loved one’s future. The plan keeps you committed to regular savings and boosts with guaranteed additions and bonus contributions. It provides guaranteed pay-outs it ensures that your loved one’s dreams stay financially safe even in case of your unfortunate absence.
Features:
- Life covers providing financial security for your family
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Tax benefits
- Maturity and death benefits
Eligibility:
- Entry Age: 18 years
- Maturity Age: 65 years
- Policy Term: 7 to 20 years
- Sum Assured: Rs. 20k p.a
- Premium Payment Period: Annual, Yearly, and half-yearly
ii. Ageas Dream Builder Plan:
An insurance plan that offers life covers as well as guaranteed payouts to fulfill your dreams.
Features:
- Life covers providing financial security for your family
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Pay only for the first 8 years of the policy
- Tax benefits
- Maturity and death benefits
Eligibility:
- Entry Age: 21 years
- Maturity Age: 31 years
- Policy Term: 10 to 22 years
- Sum Assured: Rs. 2 lakhs p.a
- Premium Payment Period: Annual.
iii. Ageas Wealthsurance Future Star Insurance Plan:
This plan is to cover your child’s future education plan and difficulties with Wealthsurance's future star insurance plan with triple benefits.
Features:
- Life covers providing financial security for your family
- Flexibility to choose your policy term and premium payment term.
- Lump-sum pays out to take care of your liabilities
- Enjoy Education Support benefit
- Tax benefits
- Maturity and death benefits
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Policy Term: 10 to 25 years
- Sum Assured: Rs. 5 lakhs p.a
- Premium Payment Period: Annual.
Ageas Federal Life Insurance Retirement Plans
These pension plans get financial security in retirement without any compromise on your standard of living with our retirement solutions.
i. Ageas Saral Pension Plan:
Ageas Federal Life Insurance Saral Pension helps you prepare a personal annuity plan not only for you but your spouse as well. It offers an option of single life and joint life immediate annuity with a return of premium.
Features:
- Life annuity with 100% return of purchase price
- Joint Life Annuity with the return of 100% purchase price on death of the last survivor
- Guaranteed annuity payout
- The annuity pays out as convenient.
- Survival and death benefit.
Eligibility:
- Entry Age: 40 years
- Maturity Age: 80 years
- Policy Term: the whole of life
- Sum Assured: Rs. 12k p.a
- Premium Payment Period: single.
ii. Ageas Guaranteed Lifetime Income Plan:
Ageas Federal Life Insurance Guaranteed Life Income Plan helps you devise a personal annuity plan towards leading a comfortable retired life. The plan offers the option of both immediate and deferred annuity.
Features:
- Life annuity with 100% return of purchase price
- Joint Life Annuity with the return of 100% purchase price on death of the last survivor
- Guaranteed annuity payout
- The annuity pays out as convenient.
- Survival and death benefit.
Eligibility:
- Entry Age: 45 years
- Maturity Age: 85 years
- Sum Assured: Rs. 1,50, 000
- Premium Payment Period: single.
Ageas Federal Life Insurance Health Plans
i. Ageas Heart & Cancer Shield Plan:
A non-linked, non-participating health insurance plan is to protect your savings against any illness or disease.
Features:
- Comprehensive coverage
- Tax benefits under sec 80D of Income Tax Act, 1961
- Income benefit
- Waiver of premium benefit
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Sum Assured: Rs. 10 lakhs
- Premium Payment Period: yearly
- Policy Term: 5 to 20 years.
Ageas Federal Life Insurance ULIP Plans
i. Ageas Smart Growth Plan:
A unit-linked insurance plan will help you grow your wealth while protecting your loved ones.
Features:
- Choice of regular and limited premium paying terms
- Choose from 6 fund options based on your risk appetite
- Tax benefit may be available under sections 80(c) and 10(10D).
- Maturity and death benefit.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Policy Term: 10/15/20/25 years
- Sum Assured: Rs. 50k p.a.
- Premium Payment Period: Annually.
ii. Ageas Wealth Plus Critical Protection Plan:
A non-participating unit-linked life insurance plan follows your passion with wealth accumulation and protection along with an additional critical illness benefit.
Features:
- The dual benefit of life cover and long term investment returns
- Enhanced protection offered by critical illness benefit
- Option to choose premium payment term as per convenience
- Choose from a wide range of funds as per your risk appetite.
- Unlimited free switches and premium
- Tax benefits of sec 80c and sec 10(10D)
- Maturity, critical illness, and death benefit
Eligibility:
- Entry Age: 18 years
- Maturity Age: 70 years
- Policy Term: 10/15/20/25 years
- Sum Assured: Rs. 1 lakh.
- Premium Payment Period: Annually.
iii. Ageas Wealth Gain Insurance Plan:
A unit-linked insurance plan that gives your life cover and helps build wealth over the long term and 8 funds to invest from receive guaranteed loyalty additions.
Features:
- Invest to 8 funds
- Receive guaranteed loyalty additions
- Avail tax benefits
- Provides flexibility to manage investments
- Maturity, death, and tax benefits.
Eligibility:
- Entry Age: 18 years
- Maturity Age: 74 years
- Policy Term: 10/15/20 years
- Premium Payment Period: Yearly, and Monthly.
Ageas Federal Life Insurance Savings Plans
i. Ageas Guaranteed Savings Plan:
A non-linked, non-participating life insurance plan brings your family closer to their dreams with guaranteed returns irrespective of market conditions.
Features:
- Pay premiums only once
- Guaranteed returns irrespective of market conditions
- Policy term to meet your financial milestones
- Tax benefits under sec 80c and sec 10(10D) of the income tax act.
- Maturity and death benefit.
Eligibility:
- Entry Age: 2 years
- Maturity Age: 55 years
- Policy Term: 7/10 years
- Premium Payment Period: single.
ii. Ageas Guaranteed Income Plan:
A non-participating non-linked life insurance plan is a quick, hassle-free life insurance plan with guaranteed pay-outs.
Features:
- Flexibility to choose premium payment term and policy term of one’s choice
- Guaranteed benefit irrespective of market conditions
- Tax benefits of sec 80c and sec 10(10D).
Eligibility:
- Entry Age: 8 years
- Maturity Age: 65 years
- Policy Term: 5/10/15 years
- Premium Payment Period: Yearly.
iii. Ageas Guaranteed Wealth Plan:
A long-term life insurance plan comes with a component of savings that assures you of guaranteed returns on your investment.
Features:
- The flexibility of paying only for the first 7 or 10 years of policy
- Receive guaranteed benefits as a lump sum or regular income
- Tax benefits under sec 80 c and sec 10(10D) as per Tax law.
- Get your family financially secure with a life cover for 14 or 20 years.
- Maturity and death benefit.
Eligibility:
- Entry Age: 10 years
- Maturity Age: 55 years
- Policy Term: 14 and 20 years
- Sum assured: Rs. 35,000
- Premium Payment Period: Yearly.
iv. Ageas Secured Income Plan:
Ageas secured income plan is to invest for 10 years and then enjoy a guaranteed annual income for the next 10 years along with life insurance cover.
Features:
- Pay a premium for 10 years and get regular annual income for the next 10 years
- Receive enhanced protection with total and permanent disablement feature
- Enjoy added guaranteed assured for high premium policies.
- Life cover for 20 years
- Boost savings with guaranteed bonus additions
- Tax benefits on your plan.
- Death, Income, Maturity, Enhanced protection in case of disablement, and after premium payment term.
Eligibility:
- Entry Age: 8 years
- Maturity Age: 70 years
- Policy Term: 10/20 years
- Sum assured: Rs. 35,000
- Premium Payment Period: Yearly.
Ageas Federal Life Insurance Group Insurance Plans
| Group Plans |
What is it? |
Entry & Maturity Age |
Sum Assured |
Policy Term & Premium payment period |
Benefits |
| Ageas Group Term Life Plan |
This group insurance plan is designed to provide life insurance cover to employees/members at low cost for formal and informal groups. |
18 to 79 years |
Rs. 5000 per member |
Yearly |
Death, Maturity, and flexible premium payments |
| Ageas Group Loan Suraksha Plan |
This group loan Suraksha plan is a single premium group credit life insurance plan that contains single life, joint cover options available. |
15 to 65 years |
Rs. 50k for death |
Single premium |
Death, maturity, surrender, and tax benefits. |
| Ageas Group Employee Benefit Plan |
In this plan the investment risk platform to earn market-linked returns and life insurance coverage for employees. |
18 to 80 years |
Rs. 5000 |
Yearly, half-yearly, monthly, and quarterly. |
Death, withdrawal, and investment options. |
| Ageas Group Microsurance Plan |
A group insurance plan that provides affordable life insurance cover to groups. Best suited for microfinance institutions, self-help groups, and NGOs. |
18 to 65 years |
- |
5 years |
Get affordable protection and hassle-free issuance. Death benefits and receives wider coverage. |
| Ageas Group Loan Secure Plan |
This plan secures your group's happiness by safeguarding the loan liability. |
18 to 65 years |
- |
2 / 30 years |
1-time payment, single & joint life cover, and flexibility to cover the loan amount. Level death benefit and reducing death benefit. |
How to Buy Ageas Federal Life Insurance at PolicyBachat
The process of buying a life insurance policy online has become simple with PolicyBachat. For buying a life insurance plan online please visit Life Insurance and follow the below steps.
- Step1: Enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, Salaries or Self-employed, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
- Step2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc., and submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
- Step3: The next step is to select the best life insurance plan and pay the premium to the insurance company before proceeding to fill out the proposal form details.
Claim Process of Ageas Federal Life Insurance
The claim process of Ageas Federal life insurance is an easy, quick, and hassle-free process. The company claims death benefits without any delay in the process.
- Claim Registration: Register a death claim by submitting a death claim form, original policy documents, death certificate issued by the municipal corporation, photo ID and residential proof, nominee’s bank account, etc.
- Claim Processing: After submission of documents, the claims will be settled within 8 working days
- Claim Payout: After that, the claim pay-out amount shall be transferred to the nominee’s account.
Documents Required for Buying Ageas Federal Life Insurance
While applying for Ageas Federal life insurance the documents required are:-
- Original Policy Documents
- Death Claim Form
- Medical Records
- Bank Account Details
- Age Proof
- Proposal form
- Identity Proof
- Address Proof
- Income Proof
List of Life Insurance Companies:
Ageas Federal Life Insurance FAQs
How to do IDBI Federal Life Insurance Policy Document Download?
For downloading the IDBI Federal life insurance policy document login to the website by entering required details such as Policy Number, Name, Phone number, etc. Go to Policy Document download options as Premium Receipt, Premium Notice, Unit Statement, Premium Paid Certificate, and GST Invoice. Select which policy document to download and print.
How Can I Check Ageas Federal Life Insurance Policy Details With Policy Number?
You can check Ageas Federal life insurance policy details with policy numbers easily in simple steps
- Step1: Visit the official website of Ageas Federal Life Insurance
- Step2: Click on the Login portal by entering the details such as register email id, mobile number, user id, etc.
- Step3: OTP will receive the registered mobile number
- Step4: After successful login, enter the policy number. You can check the policy details displayed on the screen.
How to Check IDBI Federal Life Insurance Policy Status?
Check your life insurance policy status easily by visiting the official website of Ageas Federal Life Insurance or if you’re an existing customer of PolicyBachat you can easily check your life insurance policy status by calling our customer care number
How to download IDBI Federal Life Insurance Premium Paid Certificate?
You can download Ageas Federal life insurance premium paid certificate to follow the below steps
- Step 1: Visit the official website of Ageas Federal Life Insurance
- Step 2: Go to customer services and then enter your mobile number
- Step 3: Click on Proceed button
- Step 4: Download your premium paid certificate for your future reference.
How to do IDBI Federal Life Insurance Premium Payment Online?
You can pay your IDBI Federal life insurance online payment using the below steps
- Step 1: Visit the official website of Ageas Federal Life Insurance
- Step 2: Go to customer services then go to pay the premium
- Step 3: enter the required details such as policy number, date of birth, etc.
- Step 4: Pay your IDBI Federal life insurance payment by using online banking, debit card, and credit card as per your convenience.
How to do IDBI Federal Life Insurance Premium Paid Receipt Download?
You can download Ageas Federal life insurance premium paid receipt to follow the below steps
- Visit the official website of Ageas Federal Life Insurance
- Go to customer services and then enter your mobile number
- Click on Proceed button
- Download your premium paid receipt for your future reference.