MyLife Protection Plan

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MyLife Protection Plan

MyLife Protection Plan is a non-linked, non-participating, individual life, pure risk premium product which enables you to help your loved ones dream big and ensure to protect it.

 

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  • Key Features
  • Eligibility
  • Downloads
  • Extensive life cover for a relatively small premium. 
  • Flexibility to choose policy term and premium payment term. 
  • Option to pay premium just once or for a limited period or throughout the policy term. 
  • Three life cover options to suit individual needs. 
  • Option to enhance protection with Accidental Death Benefit.
  • Discounted premium rates for females, marathon runners and non-tobacco users.
  • Tax benefits may be available on premiums paid and benefits received as per prevailing tax laws. 

Age at Entry

(as on last birthday)

Minimum

21 years (For all cover options)

For Accidental Death Benefit

21 years

Maximum

For Regular Coverage and Coverage Booster:

65 years;

For Smart Coverage

Single Pay - 55 years

Limited Pay - 60 years minus Premium Paying Term

For Accidental Death Benefit

60 years

Age at Maturity

(as on last birthday)

Minimum

For Regular Coverage and Coverage Booster:

31 years;

For Smart Coverage:

65 years;

For Accidental Death Benefit:

31 years;

Maximum

85 years for all life cover options

 

For Accidental Death Benefit:

75 years.

Premium Payment Mode

 

Yearly and monthly

Basic Sum Assured

Minimum

Rs.50,00,000

Note$: Sum Assured (SA) will be in multiples of Rs.5lakhs till Rs.1crore, post which it will be in multiples of Rs.25lakhs.

Maximum

No limits$

       

Regular Coverage and Coverage Booster

Smart Coverage

Policy Term (PT) / Premium Payment Term (PPT) combinations:

 
       

PT (years)

Minimum

Regular Pay

10

NA

Limited Pay

65 - Age at entry

Single Pay

Maximum

Regular Pay

85 - Age at Entry

NA

Limited Pay

85 - Age at Entry

Single Pay

PPT (years)

Minimum

Regular Pay

10

NA

Limited Pay^

7

Single Pay

Single Pay

Maximum

Regular Pay

85 - Age at Entry

NA

Limited Pay^

25

Single Pay

Single Pay

^Limited Pay options are 7, 10, 15, 20 & 25 Years

PT for ADB

 

Min

10 years

Max

Minimum of (Policy term of Base plan, 75 – Age at Entry)

PPT for ADB

 

Minimum of (Premium Paying term of Base plan, 75 – Age at Entry)

* Subject to Board approved underwriting policy

UIN: 135N075V01

To download the brochure, please click the link below.

Download Brochure

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Product Type:  Ageas Federal My Life Protection Plan
Please enter your 14-digit Federal Bank account number.
Ex: +91
Ex: 9009990099
 

Discl My Life Protection Plan.

Disclaimer:

Ageas Federal Life Insurance MyLife Protection Plan (UIN: 135N075V01) is a non-linked, non-participating, individual life, pure risk premium plan and no benefits other than those indicated in this brochure are payable. This product does not participate in the profits of the Company. Substandard lives will be charged extra premium. This product is underwritten by Ageas Federal Life Insurance Company Limited (Regn. No 135; Corporate Identity Number (CIN) – U66010MH2007PLC167164) having its registered office at: 22nd floor, A wing, Marathon Futurex, N.M. Joshi Marg, Lower Parel – East, Mumbai – 400013.  Ageas Federal Life Insurance Company Limited does not assume responsibility on tax implication. Please consult your own tax advisor to know the benefits available to you. Tax Benefits are as per the Income Tax Act, 1961 and are subject to changes in the tax from time to time. Trade logo displayed above belongs to Ageas Insurance International N.V. and The Federal Bank Limited and used by Ageas Federal Life Insurance Company Limited under license from respective partners. Federal Bank is a Corporate Agent of Ageas Federal Life Insurance Company Limited having its registration number (Regn. No. CA0227) and Registered office at P.B. No.103, Federal Towers, Aluva, Ernakulam, Kerala -683101. The corporate agent does not underwrite the risk or act as an insurer. Participation of the Federal Bank customers is on a voluntary basis.   

 

BEWARE OF SPURIOUS/FRAUD PHONE CALLS!

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.