"Spending a whole day looking for insurance is fun," said nobody, EVER!
  • Aegon Life iIncome Insurance Plan

    Aegon Religare Term Plan

    As a responsible individual, you want to provide your family with the best of things. However, ever wondered what will be the fate of your family in the event of your unfortunate death? Life is unpredictable and there are no free lunches in the world. You should, therefore, plan ahead and ensure that your family’s future financial security is not in jeopardy in your absence. One of the ways to provide protection to your family is by opting for AEGON Life iIncome Term Insurance Plan.

    This plan is most suitable for those who want to provide not only a lump sum but also a regular income in the event of their death. This plan provides cover against disabilities and factors in the rising cost of living as well. Customers can also avoid tedious paperwork by opting for this online plan.

    AEGON Life iIncome Insurance Plan is a non-linked, non-participating term insurance plan. Customers should first choose the monthly income they want to provide their family, following which, the period gets selected automatically. Customers can acquire this plan by making an online payment using their debit/credit card or via their internet banking account. AEGON Life will subsequently make a verification call after payment. The policy will be issued in 10 to 14 working days.

    Features of AEGON Life iIncome Term Insurance Plan: 

    The features of the plan are as follows:

    • The minimum entry age under this plan is 25 years and maximum age is 50 years. The maximum maturity age is 60 years.
    • The policy term will be 60 years minus entry age.
    • The premium payment term is equal to policy term. The premium payment frequency is annual, semi-annual and monthly. Semi-annual premium = Annual premium x 0.512; Monthly premium = Annual premium x 0.087
    • The minimum initial monthly income is Rs. 30,000 while there is no limit to the maximum (subject to underwriting).
    • No maturity benefits are payable to the policyholder under this plan
    • No surrender value is payable to the policyholder under this plan.
    • Exclusions: If death occurs from suicide within one year of policy inception or reinstatement, the nominee will receive 80% of the premiums paid.

    Benefits of AEGON Life iIncome Insurance Plan:

    The benefits of the plan are as follows:

    • Death benefit: In the event of the unfortunate death of the Life Assured, the nominee will receive the following:
      • 12 times the monthly income benefit as lump sum
      • Upon death, the monthly income benefit will commence from the next policy anniversary up to end of policy term or 60 months, whichever is later.
      • The monthly income benefit will rise by 5% p.a. on every policy anniversary up to 59 years. The policy will stand terminated after payment of all monthly income benefits.
    • In case of partial and permanent disability owing to accident or sickness, benefits payable are the following:
      • Future premiums will be waived
      • The monthly income will commence from the next policy anniversary up to maturity or 60 months.
      • The monthly income will increase by 5% p.a. on every policy anniversary up to 59 years.
      • If the partial and permanent disability benefit (PPD) is claimed, it will cease. The death benefit, will therefore, become payable.
    • Customers can avail of tax benefits under section 80(C) and 10(10)D of the IT Act 1961.
    • The AEGON Life WoP on CI Rider can be attached to a base plan at the inception of the policy or any time during the policy term. The rider covers the four critical ailments such as Cancer, Coronary Artery Bypass Surgery, Heart Attack and Stroke

    Example:

    Andrew Clarence, a 30-year-old marketing executive, opts for AEGON Life iIncome Insurance Plan with a monthly income of Rs. 75,000 for 30 years. As ill-luck would have it, five years after commencement of the policy, he dies. Consequently, his nominee gets 12 times the monthly income or around Rs. 10 lakhs as lumpsum. Also, the monthly income benefit on death will commence from the policy anniversary and increase by 5% p.a. up to 59 years. The nominee will, therefore, receive around Rs. 91,000 as the first monthly payout. Given that the monthly income benefit will increase by 5% over the remaining term (each policy anniversary), the total benefit would amount to around Rs. 5 crores and 70 lakhs (including the lump sum).

    FAQs:

    1. What are the riders available under this plan?

      The AEGON Life WoP on CI Rider riders can be attached to a base plan at the inception of the policy or any time during the policy term. This rider covers the following 4 critical illness conditions such as Cancer, Coronary Artery Bypass Surgery, Heart Attack and Stroke.

    2. What is the minimum and maximum entry age for this plan?

      The minimum entry age under this plan is 25 years and maximum age is 50 years. The maximum maturity age is 60 years.

    3. Can I avail of any tax benefits under this plan?

      Customers can avail of tax benefits under section 80(C) and 10(10)D as per prevailing tax laws which are subject to change.

    4. Who should buy this plan?

      This plan is most suitable for those who want to provide not only a lump sum but also a regular income in the event of their death. This plan provides cover against disabilities and factors in the rising cost of living as well. Customers can also avoid tedious paperwork by opting for this online plan.

  • reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.