• Aegon Life Regular Money Back Insurance Plan

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    The Aegon Life Regular Money Back Insurance Plan provides double coverage to the life insured. This plan suits anyone who is looking for a life insurance plan to secure their family financially, as well as get a guaranteed income in case of survival. The policy comes with flexible premium payment options and policy terms. The eligible age criteria is vast to include young ones and adults.

    Eligibility Conditions for the Aegon Life Regular Money Back Insurance Plan:

      7 Pay option 10 Pay option Single Pay Option
    Minimum Entry Age 7 days 7 days 7 days
    Maximum Entry Age 55 years (last birthday) 55 years (last birthday) 60 years (last birthday)
    Maximum Maturity Age 75 years (last birthday) 75 years (last birthday) 90 years (last birthday)

    Policy Terms for the Aegon Life Regular Money Back Insurance Plan:

    7 Pay 20 years
    10 Pay 20 years
    Single Pay 20 years

    Premium Payments Offered by the Aegon Life Regular Money Back Insurance Plan:

    Policy term 20 years
    Premium Payment Term
    • Single Pay
    • 7 Years
    • 10 Years
    Minimum Premium
    • 7 Years and 10 Years – Rs.12,000 p.a.
    • Single Pay – Rs.1 lakh
    Maximum Premium No limit, subject to underwriting
    Premium Payment Mode Monthly, Bi-annual, Annual

    Note the following –

    • The sum assured under this Aegon life insurance plan will depend on the age of the Life Insured. It will also depend on the premium payment term and the premium amount selected.
    • Risk cover comes into force immediately upon commencement of the policy.

    Key Features of Aegon Life Regular Money Back Insurance Plan:

    Type of Plan Regular Money Back Insurance Plan
    Premium Payment options Monthly, Bi-annual, Annual
    Free-look period There is a 15-day free-look period on this policy within which the policyholder can return the policy document to Aegon for cancellation. The free-look period is extended to 30 days for policies purchased through distance marketing. The premium paid will be refunded after deductions of proportionate risk premium, stamp duty and any other expenses borne by the company.
    Grace period
    • 15 days for monthly mode policies
    • 30 days for all other payment modes
    Reinstatement A lapsed policy can be reinstated within two years from the first unpaid premium due date.
    Tax benefit As per prevailing tax laws, benefits under Section 80C and 10 (10D) are applicable.
    Service Tax As per the prevailing law, service tax and education cess will be levied.
    Assignment Allowed as per the Insurance Act 1938, Section 38
    Nomination Allowed as per the Insurance Act 1938, Section 39

    What you need to know about Aegon Life Regular Money Back Insurance Plan:

    • This plan covers life insurance and guaranteed income.
    • The nominee will receive a lump sum pay-out in the event of your death.
    • There are guaranteed money back pay-outs for 10 years of the policy.
    • The parent or grandparent can propose a policy in the name of their child. The risk cover will start immediately for the minor upon commencement of the policy.

    Payment Options for the Premiums offered by Aegon Life Regular Money Back Insurance Plan:

    • 7 Pay Option
    • 10 Pay Option
    • Single Pay Option

    Advantages and Benefits of Aegon Life Regular Money Back Insurance Plan:

    The Aegon Life Regular Money Back Insurance Plan provides the following key benefits:

    • Life Insurance coverage to ensure financial security for your family.
    • Guaranteed pay-outs for a period of 10 years.
    • Every year, the benefit amount can be increased by the bonus accrual.
    • The policyholder is free to choose a premium payment term to match their affordability and financial needs.
    • Loan facility is available under this plan.
    • There is an option of additional benefit in the event of a disability.
    • The policyholder is entitled to tax benefits as per the prevailing tax laws.

    Death Benefit:

    In the event of the death of the life insured, the following benefits will be applicable, provided that all premiums due have been paid. The nominee will receive:

    • The sum assured
    • Accrued reversionary bonus
    • Terminal bonus, if any

    The total death benefit will be subject to a minimum of 105% of the premiums paid. Death benefits will be calculated on the following basis:

    Pay Option Age at Entry less than 45 years Age at Entry equal or more than 45 years
    7 Year Pay Higher of 10 times the annualized premium or sum assured Higher of 10 times the annualized premium or sum assured
    10 Year Pay Higher of 10 times the annualized premium or sum assured Higher of 10 times the annualized premium or sum assured
    Single Pay Higher of 1.25 times the single premium or sum assured Higher of 1.10 times the single premium or sum assured

    Guaranteed Money Back Payout:

    Upon survival at the end of every year, starting from the 10th year to the 19th year of the policy, you will receive a guaranteed money back pay-out. If all premiums are paid and the policy is in force, the pay-out will be as 15% of the sum assured. After the death of the life insured, no money back pay-outs will be applicable.

    Maturity Benefits:

    If all premiums have been paid, upon maturity of the policy, the following will be payable:

    • Accrued reversionary bonus
    • Terminal bonus, if any

    Bonus:

    A simple reversionary bonus will be declared by the company at the end of every fiscal year as a percentage of the sum assured. At policy anniversaries, bonuses will accrue to the policy. Once the bonus is declared, it is guaranteed. All accrued bonuses will be paid upon the death of the life insured or the date of maturity, whichever is earlier. Depending on the experience of the With-profits fund, the company may also declare a terminal bonus upon death of the life insured and for maturing in-force policies.

    Surrender Option

    You can surrender your policy in the following cases:

    • For premium payment of 10 years, you can surrender the policy after payment of the first three years’ premium.
    • For premium payment of 7 years, you can surrender the policy after payment of the first two years’ premium.
    • For single premium payment, you can surrender the policy immediately.

    Exclusions under the policy

    • If the life insured commits suicide within 1 year from the date of commencement of the policy, 80% of the premiums paid will be refunded as long as the policy is in force.
    • If the life insured commits suicide within 1 year from the date of reinstatement of the policy, 80% of the premiums paid or the surrender value as on the date of death, whichever is higher, will be payable.

    Revival:

    A reinstatement of a lapsed or Paid-up policy can be carried out within two years from the due date of the first unpaid premium. To reinstate the policy, the following criteria must be fulfilled:

    • Payment of all unpaid premiums plus interest.
    • Evidence of insurability of the life insured must be submitted to the satisfaction of the company

    For reinstatement of a paid-up policy, bonus for the lapsed period will become payable. Guaranteed money back pay-outs during that period will be paid to the policyholder without interest. The policy will become eligible for future pay-outs.

    If 2 years passes from the due date of the first unpaid premium, the policy will be terminated. A paid-up policy, if not reinstated, will continue to be a paid-up policy till maturity or death, whichever is first.

    Loan:

    Loan option is available under this policy to meet unplanned financial requirement. Once the policy has acquired a surrender value, a loan can be availed for a minimum of Rs.5,000. The maximum amount sanctioned is 60% of the surrender value. Interest rate will be equal to the yield to maturity on 10-years G-Sec plus an additional 2%. This will be reset at the start of every financial year.

    Assignment:

    Assignment is available as per Section 38 of the Insurance Act, 1938.

    Riders:

    Under this plan, policyholders can increase their protection by opting for the Aegon Life Premium Shield Rider. Upon death or disability caused by sickness or accident, the rider will waive all future premiums.

    • Proposer and Life Insured are different – In the event of death or disability of the proposer, the rider waives all future premiums under the base plan.
    • Proposer and Life Insured are same – In the event of disability of the life insured, the rider will waive of all future premiums. Disabilities covered include loss of both limbs, loss of use of both limbs, loss of eyesight in both eyes, speech, hearing in both ears, and loss of or loss of use of any one limb.

    The Aegon Life Regular Money Back Insurance Plan provides life cover beyond the premium payment term. If you are looking for a lump sum in case of your death, a regular guaranteed income, loan options in case of financial need, enhanced protection in case of disability along with flexible premium payment options, this plan has optimum benefits.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Aegon Life Regular Money Back Insurance Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Life Life Insurance
      "Fair service"
      0.5 2.0/5 "Expected more"
      I've a health insurance policy with the HDFC life. I pay a premium of 8000 per year via an agent. I am not aware about the in depth features of the policy. So far the experience has been good with them. It is a recommendable insurance policy to have.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 14, 2018
    • Kotak Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance with Kotak Life from last 2 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in 3 months and i am convenient with the payment options. The maturity period for this policy is 10 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a LIC policy from last 4 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in a year through direct payment and the payment options are convenient for me. I am happy with coverage and returns of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 10 years and it is a long term policy. I am satisfied with the coverage and benefits of this policy. I pay my premium once in 3 months by cheque and i am convenient with the payment options. The maturity period for this policy is 15 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 14, 2018
    • ICICI Prudential Life Insurance
      "Value for money"
      0.5 4.0/5 "Great!"
      I am using ICICI prudential life insurance company from the last three to five years of time. I would like to say that the coverage value is an average one and the customer service is fine one too with the ICICI prudential life insurance company.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Scope for improvement"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is not good one and the coverage value is not good too. There are no advantages with them.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      I have got the life insurance policy with the Life Insurance Corporation of India. I have not used their web portal as such. Coverage value is good one with the Life Insurance Corporation of India, also the premium value is better one with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 14, 2018
    • LIC Life Insurance
      "Good money back plan "
      0.5 5.0/5 "Blown Away!"
      I am having the Money back life insurance policy for the past 10 years. The customer support service and the response is good with the LIC. I pay the premium amount of Rs,5000 to this policy every year once. This policy has the tenure of 20years. I got the money back in 4 years once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good child plan "
      0.5 5.0/5 "Blown Away!"
      I got the Jeevan Tharan life insurance policy around 3 years ago. The customer support service and the response is good with the LIC and this policy will get matured once my child turns to 18years. I pay the premium amount of Rs,15,000 to this policy in every once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The Life insurance policy has been taken by me around 4 years ago. This policy has the tenure of 15years. The customer support service and the response is good with the LIC. I pay the premium amount of Rs,28,000 in every year once. i am satisfied having this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 3 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in a year through online and the payment options are convenient for me. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • Aegon Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold the AEGON LIFE term insurance policy around a year ago. The customer support service and the response is good with the AEGON LIFE and I get good plan benefits and the policy coverage with this policy and I am satisfied using this AEGON LIFE insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have been using LIC since my childhood and it is a long term policy, the tenure for this life insurance policy is 15 years. I pay my premium once in a year by cheque and i am convenient with the payment options. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 13, 2018
    • Aviva Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      The AVIVA life insurance policy has been used by me for more than 3 years. This policy has the tenure of 20years. The customer support service and the response is good with the Aviva insurance. I pay the premium amount around Rs,10,000 in an year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      MONEY BACK i have been using from the LIC. I have been using since 2009. It is a long term policy of 27 years. I pay for 6 months once for my insurance and through the cash and sometimes through the net banking. I have not taken any of the loans in my insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India and I have not interacted with them as much. Coverage value is fine one with the Life Insurance Corporation of India and I have not claimed as such.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • Kotak Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I am having the Life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE company. I got this policy around 14years ago. This policy has the tenure of 20years. I pay the premium amount of Rs,2500 every year once. The plan benefits and the coverage is good with this policy and i am satisfied using it .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Better Jeevan saaral policy"
      0.5 5.0/5 "Blown Away!"
      I pay the premium amount of Rs,12000 every year once to the Jeevan saaral policy . I hold this policy for the past 18years. The customer support service and the response is good with the LIC and this policy ha the tenure of 20 years. The plan benefits and the policy coverage is very good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • LIC Life Insurance
      "Good Jeevan anand policy"
      0.5 5.0/5 "Blown Away!"
      I got the LIC life insurance policy around 6years ago. The customer support service and the response is good with the LIC and this policy has good plan benefits and better policy coverage with this policy. I pay Rs,762 every 3 months once as premium amount. This policy has the tenure of 20years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • SBI Life Life Insurance
      "Better Policy"
      0.5 5.0/5 "Blown Away!"
      Total tenure of the policy is 20 years. It is a cashback policy. Every 5 years i will get 10%. Every 5 years they will give the cashback policy. Once in 5 years, my number will update in their system, i have to give a blank cheque. At the end of th term , I would get bonus points I guess.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2018
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