AEGON Religare Life Insurance Term Plans

AEGON Religare, as the name suggests, is a joint venture between three firms. First is AEGON which is a global player in insurance and pension needs, second is Religare which is an Indian company with an extremely diversified product portfolio to its credit and the third is Bennett, Coleman and Company, which is Indian’s largest media company. The venture aims to develop customer-centric financial solutions that will be guided by innovation and technology. ARLI launched its business operations in the country in the year 2008 and have been spreading across the nation and growing, since then.

To be eligible for Aegon Religare Life Insurance

  • Minimum age for Aegon Religare Life Insurance
    You should be at least 18 years old
  • Maximum age for Aegon Religare Life Insurance
    You should be less than 65 years old
  • Occupation eligibility for Aegon Religare Life Insurance
    You should be either Salaried, Self- employed, a professional or have your own business

Aegon Religare Life Insurance at a Glance

  • Maximum tenure of Aegon Religare Life Insurance
    A maximum tenure of 75 years
  • Maximum sum assured for Aegon Religare Life Insurance
    Min Sum Assured: Rs 10 Lakhs
    Max Sum Assured: No limit subject to underwriting
  • Claim-settlement ratio for Aegon Religare Life Insurance
    Claim-settlement ratio of 66.8% in 2012-2013
  • Exclusions for Aegon Religare Life Insurance
    Specific exclusions: Suicide within the first 12 months

Add-on covers for Aegon Religare Life Insurance

  • AEGON Religare AD Rider for Aegon Religare Life Insurance
    AEGON Religare AD Rider
  • Accidental death of the Life Assured, the Sum Assured under the rider will be paid
  • Women Care for Aegon Religare Life Insurance
    Women Care
  • The AEGON Religare Women Care Rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness a certain percentage of the base plan Sum Assured will be paid.
  • This Rider AEGON Religare WoP on CI Rider for Aegon Religare Life Insurance
    This Rider AEGON Religare WoP on CI Rider
  • On being diagnosed with any of the critical illnesses, future premiums payable under the base plan and riders (if any) are waived while the life cover and rider cover (if any) continues.

*These add-ons may be included as part of different products and are subject to the insurer's terms & conditions. Check your add-ons>>

Documentation needed to apply for an Aegon Religare Life Insurance

1. Identity Proof

2. Age Proof

3. Income Proof

4. Address Proof

5. PAN Number

Religare Life Insurance - Product Portfolio

AEGON Religare Life Insurance Term Plans:

AEGON Religare Life Term Plans are reliable and a good option for ensuring your loved ones are provided for in case you are not around anymore. These term insurance plans are cost-effective and can be availed at lower costs.

  1. AEGON Religare iTerm Insurance Plan - A life cover of Rs.1 Crore at as low as Rs.8100 per annum. This is the only term plan that offers illness benefit. This plan covers all forms of death including death by terrorist attack.
  2. AEGON Religare Term Insurance Plan - This insurance plan does not provide any lump sum on death but ensures a payout every month equivalent to 3% of the sum assured.
  3. AEGON Religare Easy Protect Insurance Plan - This term insurance plan protects your loved ones against all financial obstacles in the event of death of the policy holder. Also, this plan ensures a monthly earning for your family.
  4. AEGON Religare iReturn Insurance Plan - The iReturn insurance plan ensures that you get all your paid premiums back in case the policy term expires and the policy holder survives.

AEGON Religare Group Plans:

These are insurance plans that have been designed to render monetary benefit to a group of individuals, mostly employees of a company or a union or an association.

  1. AEGON Religare Group Gratuity Plan - This plan is aimed at empowering the employer firms to avail a plan to fulfill the gratuity needs of the employees once they retire.
  2. AEGON Religare Group Leave Encashment Plan - This plan can be availed by the employers to provide leave encashment to retiring employees. Since liabilities increase with time, so availing a plan to take care of such things is better than managing it at the eleventh hour.
  3. AEGON Religare Group Credit Life Plan - The Group Credit Life Plan covers all the employees of a group with respect to their insurance needs as well as any loan liability that they might have so that their family members are spared any trouble in case they are not around.
  4. AEGON Religare Group Term Plan -This is the best plan to safeguard the monetary needs of your dependents. In case of the sad demise of any of the family member, the sum assured for the nominee is paid to the family.

AEGON Religare ULIP Plans

The ULIP plans from AEGON Religare are great financial tools that provide double protection of life cover as well as market linked investment.

  1. AEGON Religare iMaximize Insurance Plan - This ULIP plan from Aegon Religare is best for reaping highest benefits at the most optimum cost.
  2. AEGON Religare iMaximize Single Premium Insurance Plan - As the name itself suggests, this ULIP plan aims to ease the burden on the policy holder by allowing single premium to be paid for the whole policy.
  3. AEGON Religare Future Protect Insurance Plan - If you want to protect your family as well as gain from the upward trends of the market then this plan is ideal for you.
  4. AEGON Religare Future Protect Plus Insurance Plan - Cover your life as well as save tax through this ULIP insurance plan from Aegon Religare.
  5. AEGON Religare Rising Star Insurance Plan - This plan ensures a secure and bright future for your children at every important milestone as well as keeps you covered for life.

Aegon Religare Pension Plans:

The retirement plan from AEGON Religare is designed specially to meet the needs of an individual after his regular income is curtailed due to retirement. This plan ensures a guaranteed continuous income up to the age of 85 years.

  1. AEGON Religare Guaranteed Income Advantage Plan - This plan assures an income of 7.5% of the sum assured till the policy holder attains the age of 85.

AEGON Religare Child Plans

If you are looking for a secure future for your child and protect his/her education against the skyrocketing education cost, then these plans from AEGON Religare are worth going for.

  1. AEGON Religare Educare Advantage Insurance Plan - This is the best plan to ensure the ups and downs in the education sector do not influence your child’s education in any way.
  2. AEGON Religare Rising Star Insurance Plan - The Rising Star Insurance Plan is the best for your children so that they never have to compromise with their education as well as their important milestones, no matter what happens.

AEGON Religare Life insurance Rural Plans

These are low-cost insurance plans designed to meet the insurance needs of people from the rural areas. This scheme aims to bring the rural population too under the umbrella of insurance.

AEGON Religare Rural Term Insurance Plan - These rural plans aim to provide maximum insurance benefits to the people from rural background so that their insurance needs are met at a lower cost.

FAQs

  • What is a Term Plan Insurance?

    A term plan is a form of life insurance that provides a fixed amount of sum assured to the nominee(s) in case of death of the insured during the policy term. Unlike the traditional life insurance policy, a term insurance offers higher sum assured at low annual premium.

  • Which term plan does AEGON Religare life insurance provide?

    Aegon religare life insurance provides only one term plan, which is iTerm Insurance Plan.

  • What are the minimum and maximum entry age for online term insurance?

    Minimum entry age is 18years and Maximum is 65years.

  • What is the minimum and maximum policy term?

    The minimum policy term is 5 years and maximum is 40years or up to 75 years.

  • What is the coverage amount of iterm insurance plan?

    If you are male 25 years old, non-smoker for a term of 20years and your premium amount is 6200, in this case your coverage amount is 1Crore.

  • How much cover should i opt for?

    Generally, it’s advised that your coverage be 8 - 10 years of the gross individual income. However, one must consider various other impending factors such as cost of living, family members etc.
    The onus is on you to ensure sufficient coverage. Since term insurance is a low premium plan, opt for maximum amount of sum assured based on your requirement.

  • How long does it take to process a claim?

    Claims should be in writing, addressed to the company’s registered address or by visiting any of the branch offices in your area. If all the paperwork is in place, AEGON Religare does not take more than 6 working days to process and settle the claim.

  • Am I allowed to add rider benefits after issuance of policy document?

    You are allowed to add riders to the i-Term policy anytime during the term. Detaching riders can only be done at the time of policy premium renewal. You must contact the customer service well in advance for any such changes.

  • Does it cover all types of death?

    Yes, it covers all types of death .In case of death by suicide during the first year of the policy or middle of the month, no death benefits is payable.

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