Ageas Federal Life Insurance Company Limited
Ageas Federal Saral Jeevan Bima
IRDAI-MANDATED standardized term plan
UIN 135N061V01We don't sell this — we'll still recommend if it fits
The dealbreaker fields (term life)
Sum assured (max)
₹25 lakh
Claim settlement (CSR)
96%
Claims TAT
[object Object] days
Suicide exclusion
12 months
Payout options
Lumpsum
Premium payment
Single Pay · Regular Pay · Limited Pay 5 years +1
Policy term
5–40 yrs
Surrender value
no
Free look
30 days
What this plan does well
- IRDAI-MANDATED standardized product — identical across ALL 23 insurers
- LOW-INCOME ACCESSIBILITY: Min SA ₹5 Lakhs
- Federal Bank + Ageas Insurance International JV
- Coverage up to age 70
- Single / Regular / Limited (5/10) Pay options
- Death Benefit highest of: 10x AP / 105% TPP / SA
- Mandatory product — every life insurer must offer (high comparability)
Watch out for
- 45-DAY WAITING PERIOD before cover starts — DEALBREAKER NEGATIVE (unique to Saral Jeevan Bima)
- Max SA only ₹25 Lakhs — UNSUITABLE for high-income buyers
- NO RIDERS allowed (IRDAI mandate)
- NO Death Benefit Payout Option (Lumpsum only)
- Regular Premium variant: NO Surrender Value
- IDENTICAL across all insurers — no insurer differentiation except CSR + premium
- Ageas Federal CSR ~96-97% (mid-tier vs top 99%+)
- Niche product — designed for low-income / first-time buyers only
Is this the right plan for you?
Run the 30-second cover calculator. We'll tell you whether this plan, or a different one, is the better fit.
Find my right cover →We don't directly sell this plan today. If our verdict says this is your best fit, we'll point you to a broker who does — and tell you our paired listed alternative so you can decide.