YOUNG-STAR-ADVANTAGE-PLAN

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Young Star Advantage Plan

  • Features
  • Eligibility Criteria

Guaranteed annual payouts to fund important milestones - Young Star Advantage Plan gives you guaranteed annual payouts, payable at the end of every year, in the last 3 or last 5 years of the policy, depending on the policy term you choose.

Guaranteed Additions and Bonuses1 to boost your savings - Guaranteed Additions are attached to your policy every year for the first 3 policy years. Further, right from the 1st year, reversionary bonuses (if any) are also attached to your policy every year. Along with Reversionary bonuses (if any), interim bonuses (if any) and terminal bonuses (if any) would also be paid out at maturity.

Immediate payout of lump sum on death of life insured - In case of an unfortunate event, the death benefit will provide for your family’s immediate needs.

No future premiums payable post life insured’s death - In case of an unfortunate event of you not being around, no future premiums of the policy will be payable.

Tax benefits may be available under Sec 80C and Sec 10(10D)of Income Tax Act, 1961

  1. 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 FY 2019 -20 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.

  2. 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.

Bonuses are linked to the profits of the participating life fund and depend on the future experience and performance of the fund

Note :- Please note that tax benefits are subject to change as per tax laws. Consult your tax advisor for determining the Tax benefits applicable to you.

Criteria

Minimum/ Maximum

Young Star Advantage Plan

Age at Entry - Life Insured (Parent) Minimum 18 years
Maximum Regular payment option: 40 years
Limited payment option: 45 years
Maturity Age (Life Insured) Minimum 29 years
Maximum Regular payment option: 60 years
Limited payment option: 65 years
Policy Term Fixed 11, 15 and 20 years
Premium payment term   Regular payment option: Equal to policy term
Limited payment option: Equal to policy term less 5 years
Premium payment Frequency   Yearly
Premium(exclusive of Goods and Services Tax and cess as applicable)/td> Minimum Rs. 18,000 p.a. - for PPT 6
Rs. 25,000 p.a. - for PPT > 6
Maximum No limit (subject to underwriting)

 

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Product Type:  Young Star Advantage Plan
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Young star Advantage plan disclaimer

Ageas Federal Life Insurance Young Star Plus Plan is a non-linked, participating, individual life, savings insurance plan (UIN: 135N076V01). The product is underwritten by Ageas Federal Life Insurance Company Limited (IRDAI Regn. No 135; Corporate Identity Number (CIN) - U66010MH2007PLC167164) having its registered office at: Ageas Federal Life Insurance Company Limited ( Formerly known as IDBI Federal Life Insurance Company Ltd), 22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel – East, Mumbai – 400013. Website: www.ageasfederal.com. Toll-Free: 1800 209 0502. Trade Logo displayed above belongs to The Federal Bank Limited and Ageas Insurance International N. V. and used by Ageas Federal Life Insurance Company Limited under license from respective partners. Ageas Federal Life Insurance Company Ltd. does not assume responsibility on tax implication. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. Life insurance cover is available under this product. 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.