Aegon Life offers non-market linked insurance plans that also acts as a savings plan. This kind of investment plan by Aegon Life not only offers protection in the form of insurance but it also acts as a savings tool. The plans offers guaranteed returns on the investments.
Types of Savings Plan Offered by Aegon Life
- Aegon Life iGuarantee Insurance Plan- Aegon Life iGuarantee Insurance Plan is a regular insurance plan that offers guaranteed returns on the premium paid. Listed below are the features and benefits of the plan.
- No medicals
- Guaranteed annual payouts for 6 years
- The plan qualifies for tax benefits
- The nominee receives ten times the the annualised premium as sum assured in case of unfortunate demise of the insured.
- The plan offers guaranteed payout of 135% of the premium amount as maturity benefit.
- Aegon Life Guaranteed Growth Insurance Plan- Aegon Life Guaranteed Growth Insurance Plan offers 150% of the premium amount as guaranteed payout. The plan offers guaranteed returns with no hassles. Listed below are some of the important features and benefits of the plan.
- Offers maturity benefit in the form of annual payout which is 150% of the annualised premium.The maturity benefit will be paid from the 10th year.
- The plan offers tax benefits under section 80C and 10D of the Income Tax Act, 1961.
- Limited premium payment term
- In case of of unfortunate demise of the insured, all the future premiums for the rest of the policy term will be waived off and the nominee will be paid guaranteed annual payouts.
- Aegon Life Flexi Money Back Advantage Insurance Plan- Aegon Life Flexi Money Back Advantage Insurance Plan is a money back insurance plan. It acts as a systematic savings plan and offers life cover for a period which exceeds the premium payment term.
- The plan offers cash back at regular intervals.
- Offers life cover even after the end of the premium payment term.
- Offers a choice of three policy terms.
- Tax benefits are available under this plan.
- A certain percentage of the sum assured will be paid as periodic survival benefit.
- Aegon Life Premier Endowment Insurance Plan-Aegon Life Premier Endowment Insurance Plan is a savings plus protection plan.The plan offers 5% guaranteed additions on sum assured during the premium payment term. Listed below are the key features and benefits of the plan.
- The plan offers death benefit to the nominee in case of unfortunate demise of the insured.
- One can avail a policy loan with the plan
- The plan offers maturity benefit
- The premiums paid and the benefits received under the plan qualifies for tax benefits under section 80C and 10D of the Income Tax Act,1961.
- Aegon Life Jeevan Shanti Insurance Plan- Aegon Life Jeevan Shanti Insurance Plan offers life cover and steady savings at a very affordable rate. Listed below are the key features and benefits of the plan offered by Aegon Life.
- Lump sum payout when the plan attains maturity
- Offers various choices for the policy to suit the customers’ financial needs.
- Flexible premium payment
- Offers bonus on the benefit amount with each policy year
- Tax benefits available
GST of 18% is applicable on life insurance effective from the 1st of July, 2017