This life insurance plan provides a guaranteed annual income to meet needs; Know the details

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Private insurance leader Ageas Federal Life Insurance has announced the launch of a new plan. The Assured Income Plan, an unlinked, non-participating individual savings plan, is designed to protect the family’s future until
ensure that they lead their lives comfortably without any financial worries, even in the unfortunate absence of the insured. The plan will provide a guaranteed annual income to meet an individual’s monetary needs and the recurring needs of their family while creating a financial safety net.

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

The Assured Income Plan also offers the flexibility to choose from three plan options: short-term income, long-term income and lifetime income.

The plan pays a survivor 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 duration of the premium payment chosen, in the case of the Short-term income option. Long term income option. For the Lifetime Income option, the survivor benefit in the form of GRI is paid until age 100 of the insured life.

For all three plan options, a lump sum benefit called the Maturity Booster is paid at the end of the income payment period. In the event of the unfortunate death of the insured life during the term of the policy, the death benefit will be payable immediately in capital to the nominee, the company said in a statement Thursday.

Speaking at the launch of the Assured Income Plan, Karthik Raman, CMO and Head-Products of Ageas Federal Life Insurance said: “In the current economic scenario, we are seeing individuals prefer guaranteed products with stable income which is unaffected by market volatilities and fluctuations. interest rate. To meet this demand, we have introduced our Assured Income Plan which offers individuals an attractive combination of protection and guaranteed payouts to help them meet their goals and requirements at different stages of life.

“Because unfortunate circumstances can strike us at any time in life, our Assured Income Plan provides life insurance coverage even during the income payout period. This aims to give our clients and their families the confidence to navigate uncertain times without fear,” Raman added.

Ageas Federal Life Insurance Co Ltd is a joint venture of Ageas, a multinational insurance giant based in Europe, Federal Bank, one of India’s leading private sector banks, and IDBI Bank, India’s premier development bank and trade in India.

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