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  • Aegon Life iGuarantee Insurance Plan

    Aegon Life Insurance

    Overview

    Aegon Life iGuarantee Insurance plan is a traditional participating insurance plan offered by Aegon Reliance with a bonus facility. This investment plan guarantees returns on regular premium payment.It is an online insurance plan.The Aegon life plan offers various benefits.

    Eligibility Condition of Aegon Life iGuarantee Insurance Plan

    Minimum entry age

    12 years

    Maximum entry age

    50 years

    Maturity age

    56 years

    Policy term

    6 years

    Premium payment term

    6 years

    Minimum annualised premium

    Rs.48,000 p.a. for individuals below 40 years of age

    Rs.60,000 p.a. for individuals of 40 years and above

    Maximum annualised premium

    Rs.2,50,000 p.a.

    Key Features of Aegon Life iGuarantee Insurance Plan

    Type

    Traditional participating insurance plan

    Basis

    Single

    Coverage

    The plan offers guaranteed maturity and death benefit.

    • Maturity benefit- The plan offers guaranteed maturity benefit. From the 6th year of the policy, the customer will get 135% of the annualised premium paid every year at the end of the year. The maturity benefit will be paid only if all the premiums have been paid.
    • Death benefit- In case of the demise of the policyholder, the nominee will be paid the sum assured under the policy.

    Policy term

    6 years

    Premium payment term

    6 years

    Sum assured

    10 times the annualised premium

    Grace period

    A grace period of 30 days is granted on the policy

    Free look period

    The policy comes with a free look period of 30 days wherein the policy can be returned within 30 days if the customer is not satisfied with it

    Loan facility

    Policy loan is not available for this plan

    Tax benefits

    The policy qualifies for tax benefits under section 80C and 10D of the Income Tax Act, 1961.

    Reinstatement

    The customer can get their policy reinstated from the due date of the first unpaid premium.

    Benefit/Advantages of Aegon Life iGuarantee Insurance Plan

    Maturity benefit

    The customer will be paid 135% of the annualised premium paid as maturity benefit. The maturity benefit will be paid only from the 6th year of the policy.

    Death benefit

    In case of the demise of the policyholder, the nominee will be paid the sum assured as the death benefit

    Tax benefit

    The policy qualifies for tax benefits under section 80C and 10D of the Income Tax Act, 1961

    How Does Aegon Life iGuarantee Insurance Plan Work?

    Let’s take the example of Ms.Shrestha who chooses Aegon Life iGuarantee Insurance Plan with an annualised premium of Rs.1,00,000 for a policy term of 6 years. Ms.Shrestha will receive a total guaranteed payout of Rs.8.10 lakh if she survives the policy. Consider Ms.Shrestha unfortunately passes away two years into the policy, then the nominee will receive sum assured of Rs.10 lakh immediately.

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