A single premium, non-linked, non-participating, group credit term plan

Features

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Single premium payment plan
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Covers available for home loans, loan against property and plot loans
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Choice of Level death benefit option and Reducing death benefit option
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Cover options available for single life, joint life, or proportionate cover for co-borrowers
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Flexibility to choose moratorium period from 1 to 7 years
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Tax benefits available for insured members

Eligibility Criteria

Criteria Minimum/ Maximum Ageas Federal Life Insurance Saral Pension Plan
Entry Age Minimum 18 years
Maximum 65 years
Cover ceasing age Minimum 20 years
Maximum 75 years 
Death sum assured Minimum Rs 5,00,000 per member
Maximum No limit
Cover Term Minimum 2 years
Maximum 30 years (including moratorium period, if any)
Policy Term Whole of Life

 

Exclusion – One year suicide Exclusion clause. If the life insured commits suicide within 1 year of inception of the plan, he/she is not eligible for claim.

 

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