Ideal plan

SAVINGS PLANS

AGEAS FEDERAL LIFE INSURANCE

Ageas Federal Magic Saving Plan

A non-linked, non-participating, individual, savings, Life insurance plan

Ideal plan

SAVINGS PLANS

AGEAS FEDERAL LIFE INSURANCE

Ageas Federal Magic Saving Plan

A non-linked, non-participating, individual, savings, Life insurance plan

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KEY BENEFITS

Why this plan suits your needs

What is Ageas Federal Magic saving Plan?

Ageas Federal MAGIC Savings Plan is a pre-eminent non-linked, non-participating, individual, life insurance and savings plan, offering five variants for you to choose and benefit from. MAGIC stands for Mega Lump Sum, Absolute Income, Guaranteed Income With Lump Sum, Immediate Income, and Consistent Money Back. Life is surely uncertain. However, your family’s future need not be. MAGIC Savings Plan aims to enhance your protection and peace of mind by combining the advantages of a guaranteed return insurance plan with the specific financial goals of your loved ones. Wondering what makes it unique? The magic truly lies in the certainty that the plan delivers, and ‘Ta-da!’ You can easily navigate through dynamic market conditions more confidently while also safeguarding your dreams and securing your beloved ones with tailored plan variants from Ageas Federal Life Insurance!
Here’s how the two-in-one ‘savings plan with life cover’ works. Think of the Ageas Federal MAGIC Savings Plan as a smart option to -
  A) Save for your kid’s education, marriage, your dream house, retirement funds and such other integral milestones, with the guaranteed lump sum that shall be received at the time of maturity
  B) ensure the well-being of your dear ones, particularly when you are no more around, with the life insurance coverage obtained throughout the policy period
This guaranteed income insurance plan from Ageas Federal Life Insurance allows you complete flexibility i.e. you can adjust the premium and plan duration as per your requirement and expected level of financial cushioning for your family in the future. So that, there aren’t any surprises later. You can exactly know how your premium grows over time to deliver the guaranteed returns at the end of the policy term. In other words, this lump sum life insurance policy is, in reality, the new financial discipline you are committing towards today, for your family’s well-deserved tomorrow!

ELIGIBILITY CRITERIA

Secure your family’s dream

ELIGIBILITY CRITERIA

Secure your family’s dream

STAGEMINIMUMMAXIMUM
Age At Entry0 years (91 Days)60 years
Age At Maturity18 years79 years

Premium Payment Term & Policy Term

Plan Variants: Mega Lumpsum | Absolute Income | Guaranteed Income with Lumpsum
Premium Paying Term (PPT) and Policy Term (PT)** Combinations (in years)
PPT156789101112
PT10 to 255 to 256 to 257 to 258 to 259 to 2510 to 2511 to 2512 to 25
Plan Variant: Immediate Income
Premium Paying Term (PPT) and Policy Term (PT)** Combinations (in years)
PPT89101112
PT10 to 2510 to 2510 to 2511 to 2512 to 25
Plan Variant: Consistent Money back
Premium Paying Term (PPT) and Policy Term (PT)** Combinations (in years)
PPT89101112
PT12/ 15/ 18 / 21/ 24

Premium

Plan Variants: Mega Lumpsum | Absolute Income | Guaranteed Income with Lumpsum
MinimumMaximum
For Single Pay: ₹75,000No limit (subject to board underwriting policy)
For other than Single Pay
  • ₹30,000 Yearly
  • ₹15,000 Half Yearly
  • ₹2,700 Monthly
Plan Variants: Immediate Income | Consistent Money back
MinimumMaximum
For Single Pay: Not ApplicableNo limit (subject to board underwriting policy)
For other than Single Pay
  • ₹50,000 Yearly
  • ₹25,500 Half Yearly
  • ₹4,500 Monthly

Sum Assured

Plan Variants: Mega Lumpsum | Absolute Income | Guaranteed Income with Lumpsum
MinimumMaximum
For Single Pay: ₹93,750No limit (subject to board underwriting policy)
For other than Single Pay

Entry Age >= 50 Years:

  • 1. Life Cover Multiple 5: ₹1,50,000
  • 2. Life Cover Multiple 10: ₹3,00,000

Entry Age < 50 Years:

  • 1. Life Cover Multiple 7: ₹2,10,000
  • 2. Life Cover Multiple 10: ₹3,00,000
Plan Variants: Immediate Income | Consistent Money back
MinimumMaximum
For Single Pay: Not ApplicableNo limit (subject to board underwriting policy)
For other than Single Pay

Entry Age >= 50 Years:

  • 1. Life Cover Multiple 5: ₹2,50,000
  • 2. Life Cover Multiple 10: ₹5,00,000

Entry Age < 50 Years:

  • 1. Life Cover Multiple option 7 ₹3,50,000
  • 2. Life Cover Multiple 10: ₹5,00,000

Income Period (in years)

Mega LumpsumAbsolute Income | Guaranteed Income with Lumpsum | Immediate Income Consistency Money back
Not Applicable5, 10, 15, 20, 256, 9, 12, 15, 18, 21, 24

UIN (135N098V03)

For more details on plan eligibility, please refer to the sales brochure.  sales brochure

STAGEMINIMUMMAXIMUM
Age At Entry0 years (91 Days)60 years
Age At Maturity18 years79 years

Premium Payment Term & Policy Term

Plan Variants: Mega Lumpsum | Absolute Income | Guaranteed Income with Lumpsum
Premium Paying Term (PPT) and Policy Term (PT)** Combinations (in years)
PPT156789101112
PT10 to 255 to 256 to 257 to 258 to 259 to 2510 to 2511 to 2512 to 25
Plan Variant: Immediate Income
Premium Paying Term (PPT) and Policy Term (PT)** Combinations (in years)
PPT89101112
PT10 to 2510 to 2510 to 2511 to 2512 to 25
Plan Variant: Consistent Money back
Premium Paying Term (PPT) and Policy Term (PT)** Combinations (in years)
PPT89101112
PT12/ 15/ 18 / 21/ 24

Premium

Plan Variants: Mega Lumpsum | Absolute Income | Guaranteed Income with Lumpsum
MinimumMaximum
For Single Pay: ₹75,000No limit (subject to board underwriting policy)
For other than Single Pay
  • ₹30,000 Yearly
  • ₹15,000 Half Yearly
  • ₹2,700 Monthly
Plan Variants: Immediate Income | Consistent Money back
MinimumMaximum
For Single Pay: Not ApplicableNo limit (subject to board underwriting policy)
For other than Single Pay
  • ₹50,000 Yearly
  • ₹25,500 Half Yearly
  • ₹4,500 Monthly

Sum Assured

Plan Variants: Mega Lumpsum | Absolute Income | Guaranteed Income with Lumpsum
MinimumMaximum
For Single Pay: ₹93,750No limit (subject to board underwriting policy)
For other than Single Pay

Entry Age >= 50 Years:

  • 1. Life Cover Multiple 5: ₹1,50,000
  • 2. Life Cover Multiple 10: ₹3,00,000

Entry Age < 50 Years:

  • 1. Life Cover Multiple 7: ₹2,10,000
  • 2. Life Cover Multiple 10: ₹3,00,000
Plan Variants: Immediate Income | Consistent Money back
MinimumMaximum
For Single Pay: Not ApplicableNo limit (subject to board underwriting policy)
For other than Single Pay

Entry Age >= 50 Years:

  • 1. Life Cover Multiple 5: ₹2,50,000
  • 2. Life Cover Multiple 10: ₹5,00,000

Entry Age < 50 Years:

  • 1. Life Cover Multiple option 7 ₹3,50,000
  • 2. Life Cover Multiple 10: ₹5,00,000

Income Period (in years)

Mega LumpsumAbsolute Income | Guaranteed Income with Lumpsum | Immediate Income Consistency Money back
Not Applicable5, 10, 15, 20, 256, 9, 12, 15, 18, 21, 24

UIN (135N098V03)

For more details on plan eligibility, please refer to thesales brochure

Plan Related Documents

Prospectus

376.33 KB

Flyer

5460.16 KB

Voices that keep us going

MAGIC plan is a combination of 5 variants M- Mega Lumpsum A- Absolute Income G- Guaranteed Income with Lumpsum I- Immediate Income C- Consistent Money Back

Income Booster is paid as a part of Maturity Benefit in all plan variants except Mega Lumpsum during income period provided all due primums are paid.

Yes, Guaranteed Addition(s) will accrue at the end of each policy year during the policy term, if all premiums due till date have been paid.

No, flexibility in choosing interval under Money Back option is not available. Default interval available under this option is of 3 years.

No, Alterations to Income Period is not allowed.