Overview
Ageas Federal Life Insurance has launched the Super Protect Plus Plan on digital platforms, expanding its digital reach and offering salaried and self-employed customers a more accessible online buying journey.
This guide breaks down the plan’s features, benefits, riders, exclusions, claims process, and key factors to consider before buying.
What Is Ageas Federal Super Protect Plus?
Super Protect Plus (UIN: 135N104V01) by Ageas Federal is a non-linked, non-participating individual life insurance plan that offers either pure risk protection or savings benefits, depending on the selected option.
Plan Options
1) Life Cover with Terminal Illness
If the life assured is diagnosed with a terminal illness during the policy term, the terminal illness benefit is paid as a lump sum, subject to the policy remaining in force and applicable premium payments.
If the sum assured on death is up to ₹2 crore, the terminal illness sum assured is paid, and the policy terminates. For higher cover, ₹2 crore is paid, while the balance cover continues with future premiums waived.
2) Life Cover with Terminal Illness and Return of Premium
Under this option, the policy provides a maturity benefit in addition to the death benefit and terminal illness benefit. If the life assured survives until maturity without a prior terminal illness claim, 100% of the eligible base premiums paid is payable in a lump sum.
If a terminal illness benefit was paid before maturity, the maturity benefit is reduced proportionately based on the terminal illness sum assured and sum assured on death. The applicable amount is paid in a lump sum at maturity, after which the policy terminates.
Eligibility Criteria
How Does Ageas Federal Super Protect Plus Work?
- Choose Your Base Plan and Riders If Needed: Select one of the two available base plan options based on the type of protection you need. Life Cover with Terminal Illness is recommended if your priority is pure protection. The Return of Premium option returns only the base premiums paid, without investment returns, and can cost significantly more (60% to 100% more than pure term plans). Select useful riders only after securing adequate term coverage.
- Select Premium Payment Option: Choose how you want to pay your premiums based on the available premium payment options under the plan. If your budget allows, we recommend limited pay. It can reduce the risk of future premium defaults, simplify policy management, and free up cash flows later. However, regular pay may suit salaried individuals with tight monthly cash flows or ongoing commitments such as rent or childcare.
- Set Your Cover and Policy Term: Select your desired sum assured and policy term based on your financial needs and protection goals. Choose a policy term that protects your family until retirement or until your dependents become financially independent, typically around age 60 to 65. For the sum assured, consider your income, liabilities, dependents, inflation, and future goals. Use the Ditto cover calculator for a rough estimate.
Ageas Federal Super Protect Plus: Features & Riders
Special Exit Value
Under the Life Cover with Terminal Illness option, you can voluntarily exit after the life assured turns 60 and receive 100% of eligible total premiums paid. This benefit is available for eligible policies with a term of at least 35 years, subject to specific additional conditions. The feature is not available for the last 5 years.
Cover Continuance Benefit
After paying premiums for three full years, policyholders can defer premiums for up to 12 months while retaining full risk cover. This benefit is not available for single pay policies and cannot be used during the final premium payment year. Deferred premiums must be paid by the end of the cover continuance period, and the benefit can be availed multiple times with a gap of 5 policy years.
Wellness Benefit
While the policy remains active and premiums are fully paid, policyholders can access health management services. These can include second medical opinions, medical case management, and medical consultations through the insurer's registered service providers.
Add-On/ Rider Benefits
- Accidental Death Benefit: You can opt for additional accidental death cover from 10% to 100% of the sum assured on death, capped at ₹2 crore. The benefit is payable if accidental death occurs within 180 days of the accident, subject to policy terms.
- Accidental Total Permanent Disability Benefit: You can opt for additional coverage from 10% to 100% of the sum assured on death, capped at ₹2 crore. If an eligible accidental total permanent disability occurs within 180 days of the accident, the selected benefit is paid as a lump sum.
- Critical Shield Rider: The rider pays a lump sum on diagnosis of a listed critical illness. Choose between Critical Protect, which covers 30 illnesses, and Critical Protect Plus, which covers 50 illnesses. A 90-day waiting period and 30-day survival period apply, subject to the rider's terms and conditions.
Note: The plan does not offer key term insurance riders such as Waiver of Premium (WOP). At Ditto, we recommend WOP along with critical illness cover because a serious illness or disability can affect both your health and ability to earn, while these riders can provide additional financial protection.
Sample Premiums Across Plans
The illustration assumes a healthy, non-smoking, salaried male from Delhi (pincode: 110010) seeking ₹2 crore term coverage until age 65, without first-year discounts. Actual premiums may vary based on underwriting, medical history, location, and other factors.
Insight: Premiums for Super Protect Plus may be lower than some established insurers, including Axis Max Life and HDFC Life. However, its pricing can remain competitive when compared with plans from insurers such as ICICI Prudential.
The plan also offers fewer rider options. Add-ons with Axis Max Life Smart Term Plan Plus cover up to 64 critical illnesses, while ICICI Prudential iProtect Smart Plus and HDFC Life Click 2 Protect Supreme Plus cover up to 60. For rough estimates of the 3 plans, you can use Ditto’s premium calculator.
Ageas Federal Super Protect Plus: Claim Process
Nominees can raise a claim online, visit a branch, email the insurer, or call them. The insurer then guides the claimant through the required documentation and verification process.
Documents: The insurer requires the claim form, death certificate, nominee KYC and bank details, policy document, and additional documents based on the cause of death.
Ageas Federal Life: Performance Metrics
Note: The data represents the insurer's performance across products. It is derived from Ageas Federal Life’s public disclosures and IRDAI annual reports. You can explore the Ditto Data Lab for more metrics.
Exclusions Under Ageas Federal Super Protect Plus
Several types of deaths are not covered under the Ageas Federal term insurance plan, which is standard across insurers. These include:
- Suicide: Term insurance can cover suicidal death, but most policies have a suicide exclusion during the first 12 months from policy commencement or revival. If applicable, the insurer will refund 80% of the premiums paid instead of paying the death benefit.
- Self-Harm: Suicide, attempted suicide, or self-inflicted injuries, subject to the applicable policy terms and conditions.
- Breach of Law: Death or injury resulting from criminal activity, illegal acts, or intentional breach of applicable laws.
- Major Incidents: War, terrorism, civil unrest, rebellion, riots, insurrection, or other major hostile events, mainly if the insured person was involved in causing the event.
- Alcohol and Drugs: Death or injury resulting from alcohol or drug abuse/substance abuse.
- Non-Disclosure of Information: Failing to disclose or misrepresenting material information, such as medical history, lifestyle habits, occupation, or existing policies, affects claim eligibility, subject to policy terms.
- Sports, Aviation, and Hazardous Occupations: High-risk activities, aviation, or hazardous occupations are not blanket exclusions. You must disclose these at application; coverage then depends on underwriting and the insurer’s acceptance. Certain aviation activities may remain excluded if not declared or specifically covered.
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Conclusion
Ageas Federal Super Protect Plus offers several useful features and customization options. However, it does not offer instant claim payouts or certain riders, such as waiver of premium.
From an insurer perspective, Ageas Federal operates at a smaller scale compared with the industry median and has reported higher complaint volumes (3.43 times the industry median).
The plan can suit young earners seeking substantial life cover with flexible payout options and additional protection features. However, it is not ideal for people looking for more useful riders and built-in features like life stage benefits, along with the confidence of an established insurer.
If you want comprehensive, affordable term insurance, compare the best term insurance plans from larger insurers with an established track record.
Frequently Asked Questions
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