Launch Date | UIN | Status |
5/1/2018 | 138N016V05 | Withdrawn |
Under this Aegon Life i-term plan, an individual can choose a policy term from between 5 to 62 years or a fixed policy term till he turns 100 years old and premium payment mode. Since its a term plan there is no maturity benefit involved. If in-case on death of the insured his nominee can collect the sum assured in one of the following ways:
If suppose an individual is diagnosed with any terminal illness then he gets 25% of the sum assured immediately and on his death the nominee gets death benefit.
Consider
Person’s age: 30 years
Policy term: 50 years
Premium payment term: 50 years
Sum assured: 1 cr
Lumpsum sum assured: Rs 60 lakhs
Income benefit sum assured: Rs 40 lakhs
Consider a 30 year old, pays an annual premium of Rs. 8676 for 50 years of policy term under this Aegon life i term insurance plan. During the policy term if due to an unfortunate event he dies, then his nominee receives Rs 60 lakhs immediately and monthly income of Rs 48000 for next 100 months.
In life stage option one can choose and increase the sum assured upto a specific limit of the original sum assured.
As per the life stage of the individual there is an increment in total sum assured:
BonusYear | RevBonus | MinPT | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
2014-15 | 5.20% | 10 | ||||||||
2014-15 | 5.70% | 15 | ||||||||
2014-15 | 6.06% | 20 | ||||||||
2015-16 | 5.20% | 10 | ||||||||
2016-17 | 5.20% | 10 | ||||||||
2015-16 | 5.70% | 15 | ||||||||
2016-17 | 5.70% | 15 | ||||||||
2015-16 | 6.06% | 20 | ||||||||
2016-17 | 6.06% | 20 |
Bonus explained: For a sum assured of Rs. 100000/-, if the bonus declared is 4.2% or Rs 42/- per thousand, then the amount of Rs 4200/- gets accumulated into the policy for that year.
AEGON Life Insurance Company Limited (formerly AEGON Religare Life Insurance Company Limited) launched its pan-India operations in July 2008. AEGON, is an International financial service organization, dealing into Life Insurance, Pensions & Asset Management products, whereas, Bennett, Coleman & Company is India's leading media conglomerate. They have ventured together to launch AEGON Life Insurance Company Ltd.
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