Ageas Federal Life - Smart Growth Plan - Mid Cap Fund

Presenting IDBI Federal Life Insurance Smart Growth Plan - A Life Insurance solution designed with a range of choices to give you complete flexibility exactly the way you want along with a life cover benefit that ensures financial security for your loved ones.

*Life Protection with Market linked returns
*Choice of regular and limited premium paying terms
*Option to choose from 6 fund options based on your risk appetite
*Boost your fund value with Loyalty Additions
*Tax Benefit may be available under section 80(C) and sec 10 (10D)

Smart Growth Plan offers you complete flexibility, whether it
s, managing your investment, liquidity benefits or redeeming the maturity value.

Use Partial Withdrawal facility after 5 years in case of an emergency - In case of an emergency requirement of funds, you are allowed to make partial withdrawals at any time after the 5th policy anniversary. The following conditions apply for such withdrawals:
*The total amount of partial withdrawals in any policy year cannot exceed 20% of the Fund Value as at the beginning of that policy year
*The minimum amount of any partial withdrawal is Rs.10,000 and the minimum Fund Value after the partial withdrawal should not be less than one year
s annualised premium
*Units equivalent to the value of each withdrawal will be cancelled from the unit-linked funds according to the proportions as instructed by you
*Partial withdrawal will not reduce the minimum Death Benefit of 105% of the total premiums paid till the date of death
*In case of minor lives being Life Assured, partial withdrawals will be allowed only after the minor Life Assured attains majority i.e. on or after the attainment of age 18.
*In case of Option 1- Prime, the partial withdrawals shall be deducted from the Death Sum Assured payable on death in a manner as specified above under Death Benefit.

Option 1 - Prime
55 years (ages are as per last birthday)
Option 2 - Plus
45 years
(ages are as per last birthday)

Policy Term 10 & 15 - 5 years (ages are as per last birthday)
For all Policy Terms - 10/15/20 years (ages are as per last birthday)

In case of death of the life insured during the policy term, provided the policy is in-force, the Death Benefit as per the option chosen at inception will be paid to the beneficiary and the policy will terminate.

1. Option 1 - Prime:
Death Sum Assured, or
Fund value, or
105% of the total Premiums paid
Reduction in Death Benefit following a partial withdrawal
Option 2 - Plus:
The Death Benefit paid is higher of:
Death Sum Assured plus Fund value, or
105% of the total Premiums paid
Death Sum Assured for the plan is higher of:
10 times the Annualized Premium, or
0.5 X PT X Annualized Premium

Upon survival of Life Insured till the date of Maturity, the Fund value including Loyalty Additions as on date of maturity is paid, provided policy is in force. Once the Maturity Benefit is paid out, the plan terminates.

Goods & Services tax and cess, as applicable, will be levied as per the extant laws.

You are entitled to a free look period of 15 days from the date of receipt of the policy document to review the terms and conditions of the policy. In case you do not agree with any of the terms and conditions, you have the option to return the policy to us for cancellation by communicating the same in writing stating the reasons for objections. We
will refund you the premium amount which shall be equal to non-allocated premium plus charges levied by cancellation of units plus Fund Value at the date of cancellation less expenses i.e. medical and stamp duty incurred by us, if any, in respect of the policy. The Company shall be entitled to repurchase the units at the price of the units on
the date of cancellation. All the benefits under the policy will stand extinguished immediately on the cancellation of the policy under the free look. For electronic policies and the policies solicited through Distance mode, free-look period of 30 days from the date of receipt of your policy document is applicable.

Grace period is effective from the date of the first unpaid premium. You will get a grace period of 30 days from the date of the first unpaid premium. The benefits of the policy remain in force during the grace period. If premium is not paid beyond the grace period, the discontinuance provisions shall apply.

Alter your investment options with switching : Your investment preferences may change over time. Hence, you can change the mix of your investment options by switching between funds any number of times free of charge. You can switch some or all units from one fund to another any time during the policy term.

*Discontinuing premiums after five years from the policy commencement date:
After payment of all due premiums in the first five years, if you fail to pay premium within the grace period of thirty days then, we will send a notice within a period of fiteen days from the date of expiry of the grace period. You are entitled to exercise within a period of thirty days from the receipt of such notice.
*Discontinuing premiums within five years of the policy commencement date:

In the first five years from the policy commencement date, if you fail to pay premium within the grace period of thirty days, we will send a notice within a period of fiteen days from the date of expiry of the grace period. You are entitled to exercise within a period of thirty days from the receipt of such a notice.

The premium allocation charge and subsequent Goods and Services tax and cess as applicable are deducted from the premiums paid and the balance is invested in investment options chosen by the Policyholder.
Premium allocation charge as a percentage of the annualized premium is given below:
Policy year
Premium Allocation Charge
1
4.00% p.a.
2-5
3.00% p.a.
6+
2.00% p.a.

Fund management charges are deducted on a daily basis of 1/365th of the annual charge while determining the unit price.
Investment Options
Fund management charge

Equity Growth Fund
1.35%
Midcap Fund
1.35%
Pure Fund
1.35%
Aggressive Asset Allocator Fund
1.35%
Moderate Asset Allocator Fund
1.35%
Bond Fund II
1.25%
Discontinued Policy Fund
0.50%

At the beginning of each policy month we will calculate the mortality charges for the policy. The mortality charge is 1/12th of the mortality charge for the attained age and gender of the life insured multiplied by the sum at risk divided by 1,000.
The Company will also deduct Goods and Services tax and cess as applicable, if any, to the Mortality Charge.
Mortality charge (excluding Goods & Services tax and cess as applicable) for sample age are as tabulated below:

Mortality Charge Rates per Rs.1,000 sum at risk - Age last birthday

Policy administration charge as a percentage of the annual premium is as given below:
Policy year
Premium Allocation Charge
1-5
3.60% p.a.
6-10
3.00% p.a.
11+
1.25% p.a.

This charge is deducted monthly in advance by cancellation of units, subject to a maximum of Rs.6,000 per year.

This charge is applicable only when the policy is discontinued and is based on the policy year in which the policy is discontinued.
Policy year in which the
policy is discontinued
Maximum Discontinuance charge
1
Lower of 6% (AP or FV) subject to a maximum of Rs. 6,000
2
Lower of 4% (AP or FV) subject to a maximum of Rs. 5,000
3
Lower of 3% (AP or FV) subject to a maximum of Rs. 4,000
4
Lower of 2% (AP or FV) subject to a maximum of Rs. 2,000
5 onwards
Nil
AP - Annualized Premium; FV - Fund Value as on date of discontinuance.
The Company will also deduct Goods and Services tax and cess as applicable to charges. These will be deducted from the Fund along with the charges.

1. Suicide Exclusion
a. In case of death due to suicide within 12 months from the date of inception of the policy or from the date of revival of the policy, the nominee or the beneficiary of the Policyholder shall be entitled to the Fund Value, as available on the date of death.
b. Any charges recovered subsequent to the date of death shall be paid back to the nominee or the beneficiary along with Death Benefit.

2. Child Policies : For policies taken on the life of a minor, at the vesting age of 18 years, the ownership of the policy will be passed to the Life Insured.
In case of death of the Policyholder of a policy under which the life insured is a child, the legal guardian of the child shall act as the Policyholder until the child becomes a major. In such case the legal guardian shall then have the following options:

a. continue to hold the policy
b. surrender the policy, provided the lock in period of five years has been completed
Assignment will not be allowed under child policies during the minority of the life insured.

3. Assignment
Assignment and transfer of insurance policies will be allowed as per provisions of section 38 of Insurance Act,1938 as amended from time to time.