AEGON Life Future Protect Insurance Plan

Minimum entry age

7 years on the last birthday

Maximum entry age

50 years on the last birthday

Maximum Maturity Age

65 years on the last birthday

Plan type

Unit Linked Insurance Policy

Plan basis

Individual

Premium paying terms

Equal to the policy term

Minimum Annualized Premium

Annual – Rs.20,000 p.a.

Semi-annual – Rs.30,000 p.a.

Monthly – Rs.36,000 p.a.

Policy term

15 years, 20 years, 25 years, 30 years, 35 years

Premium payment frequency

Monthly, half yearly and yearly.

Grace period

• 30 days from the expected date of payment of premium (for yearly and half yearly modes)
• 15 days from the expected date of premium payment for monthly mode

Free Look Period

• 15 days from the date of availing the policy.
• 30 days if the policy has been purchased through Distance Marketing channels.

Policy revival

• Revival period is 2 years.
• Date of revival will be when all overdue premiums are paid.

Nomination

Nomination facility is available under section 39 of the Insurance Act, 1938

Sum Assured

Maximum sum assured s 20 times the annualized premium.

Policy coverage

1. Death Benefit:

   • All partial withdrawals made from the fund in the 2 years before the death will be deducted from the sum assured.
   • If the death occurs after the age of 60, all partial withdrawals made after the age of 58 but within 5 years of the date of death will be deducted from the sum assured.
   • Death benefit will be the higher of Sum Assured or Fund Value.
   • The death benefit will not be less than 105% of the total premiums paid up.
2. Increase in Base Policy Sum Assured without underwriting:
   • This facility should be opted for in the first 3 months of the date of marriage or childbirth.
   • Applicants for this option cannot be more than 40 years of age at the time of application.
   • A balance of at least 5 years in the policy term should exist.
   • This can be availed only twice.
   • This is not allowed during revival period.
   • Base Sum assured can be increased by up to 50% or Rs.10,00,000 (whichever is lower).
3. Invest Protect Option:
   • Helps minimize the risk to your returns near maturity.
   • Moves your investment from the Accelerator Fund to the Secure Fund in the last 3 policy years.
   • 10% of the total units at the beginning of the 3^rd last policy year will be switched monthly in the Stable Fund.
   • 10% of the total units at the beginning of the 2^nd last policy year will be switched monthly in the Debt Fund.
   • 10% of the total units at the beginning of the last policy year will be switched monthly in the Secure Fund.
   • Auto-rebalancing option.
   • Premium re-direction.
   • Switching option. Four free switches between funds allowed in a policy year.
4. Maturity Benefit:
   • On maturity, policyholder will receive the Fund Value as on the maturity date.
5. Settlement:
   • This is for when you wish to remain invested in the fund even after the policy’s maturity date.
   • Maturity proceeds will be disbursed in instalments over the period of your choice.

Surrender of Policy

• The policy can be surrendered at any time
• If it is surrendered within the first 5 years, Discontinuance charges will be transferred to the Discontinuance Policy Fund and those proceeds will be paid after the first 5 years.
• Surrendering a policy after 5 years will result in the Fund Value being paid to you.
• Surrendered policies cannot be revived.

Charges Applicable

1. Premium Allocation Charges:

2. Mortality Charges: Deducted by cancelling units at the prevailing unit price at the beginning of each month.

3. Discontinuance Charges:

AP – Annualised Premium

FV – Fund Value.

4. Fund Management Charges:

Name of Fund

Management Charges

Secure Fund

1.00% p.a.

Debt Fund

1.10% p.a.

Stable Fund

1.35% p.a.

Accelerator Fund

1.35% p.a.

Discontinuance Policy Fund

0.50% p.a.

Option

Allowance

Charges

Auto-rebalancing

No charges

Rs.200 for addition or removal

Switching

Four free switches allowed per policy year

0.1% of the amount switched or Rs.500 per extra switch, minimum switchable amount is Rs.100

Premium redirection

Twice free per policy year

Minimum Rs.200 or maximum Rs.500 per extra request

Partial Withdrawal

Four times free every policy year, no charge for systematic partial withdrawal

Rs.200 extra per withdrawal

Fund Name

Objective

Asset Allocation

Accelerator Fund

To invest in the equities of various sectors for a diversified investment portfolio that generates attractive returns in the long term. Also invests in fixed interest assets and money market instruments.

• Equity – 80% to 100%.
• Fixed Interest and Money Market Instruments – 0% to 20%

Stable Fund

To invest with a view to maintain a balanced exposure to equity and debt to facilitate long term returns. Allocations will also be shifted between debt and equity to benefit from asset price movements between medium to long term.

• Equity – 20% to 80%.
• Fixed Interest and Money Market Instruments – 20% to 80%.

Secure Fund

To invest in a diversified portfolio of money market instruments and other fixed income securities that will mature in the short to medium term. The objective here is to generate returns with low valuation risks.

• Fixed interest – 60% to 100%.
• Money Market Instruments – 0% to 40%.

Debt Fund

This fund invests in government debt, corporate debt, money market instruments and other fixed income securities.

• Fixed interest – 60% to 100%.
• Money Market Instruments – 0% to 40%.