Ageas Federal Life Insurance is one of the fastest-growing and leading independent private life insurance enterprises in India. Ageas Federal Life Insurance has announced the launch of its flagship term insurance plan, Super Protect Plus Plan, on Policybazaar. The strategy enables a highly targeted term insurance product for salaried and self-employed individuals.

The official launch is a crucial step toward strengthening the company’s digital distribution presence and also toward making life protection solutions much more attainable for everyday customers, through a simple and unobtrusive online purchase process.

Strategic partnership and policy features

The launch of the plan on the Policybazaar platform is an integral part of Ageas Federal Life Insurance’s broader strategy, aiming to expand the company’s overall digital distribution footprint and its digital market share. 

The collaboration with Policybazaar marks the insurance company’s decisive move into the digital realm, uniting its own extensive online presence with users eager to find dependable insurance options. 

It enables prospective policyholders (and consumers) to easily and seamlessly find, assess, compare, and purchase insurance products in a completely digital-first journey. It provides Ageas Federal Life Insurance with an immediate way to engage customers when they need it most in the product buying cycle. 

The partnership underlines the insurer’s sustained efforts to continue its mission to increase digital conversions, expand its online distribution capability, and create a future, scalable digital distribution strategy that meets evolving consumer needs.

The Super Protect Plus Plan combines life cover with a vast scope of customer-specific features. Those who qualify for the insurance plan are eligible for a 12% discount on the first-year premiums and a Lowest Price Guarantee. The offering includes a free health management facility worth up to ₹53,000 per annum. 

The policy includes an integrated Terminal Illness cover of its own and improves upon an outstanding Claim Settlement Ratio of 99.82%. Customers are also afforded 0% GST on the term insurance offering, consistent with prevailing tax guidelines. 

These features are embedded in the product in order to drive convenience and accessibility in the digital term insurance product, and ultimately reinforce the overall product philosophy of Ageas Federal Life Insurance, ‘Promises Made Possible.’

Corporate background and operational achievements

Ageas Federal Life Insurance Co. Ltd. is a joint venture set up between Ageas, a multinational insurance organisation based in Europe, and Federal Bank, a private banking institution with established operations in India. The joint venture offers a variety of wealth management, financial protection, and retirement solutions for individual and corporate clients throughout the country. 

The company started its business activities back in 2008 and achieved the financial break-even point within only 5 years. The system has expanded to form a far-reaching national network exceeding 3,770 branches over the years, including partner bank locations and an extensive network of insurers.

By increasing its footprint, Ageas Federal Life Insurance has established a robust national market position. As per the insurance provider, the company has issued over 19.71 lakh policies, where the total sum insured is in excess of ₹27,558 crore up to March 31, 2025.

The company has considerable financial assets, with total assets under management exceeding ₹18,956 crore, based on a strong capital base in excess of ₹800 crore. The figures reflect the strength of the firm’s financial position and its ability to continue operating in the Indian life insurance sector.

Conclusion

Ageas Federal Life Insurance’s Super Protect Plus Plan launch marks a significant milestone in the company’s journey toward digital-first sales. The insurer effectively bridges the gap between traditional insurance and modern digital accessibility by working with India’s primary online insurance platform, a partnership that facilitates decisions for more self-employed and salaried users.

With its extensive digital presence through Policybazaar and a strong Claim Settlement Ratio of 99.82%, Ageas Federal Life Insurance is further bolstering its market positioning, thanks to the inclusive policy benefits that include health services and premium discounts.