AEGON Religare Flexi Money Back Insurance Plan is meant for customers wary of investing in the volatile markets, looking for a simple insurance plan with guaranteed benefits. This plan offers a life cover that extends beyond the premium payment term; bonus that accrues from the first year onward; and regular income at specified intervals in addition to the maturity benefit.
This plan is aimed at customers who are seeking the comfort of guarantees in an uncertain investment climate and are looking for fixed paybacks at pre-determined intervals. The customer knows exactly what is receivable at the money-back stage as well as at maturity.
Benefits:
^ Extended life cover that goes beyond the premium payment term.
^ Additional cover incase of death due to an accident.
^ Bonus, which forms a part of the guaranteed benefits and is paid in case of maturity or death.
^ Guaranteed payouts, as a percentage of the sum assured, at regular intervals.
^ 40% of the sum assured as maturity benefit at the end of the policy term.
^ Incase of death, it provides the nominee with sum assured along with the accrued bonus irrespective of the prior payouts.
^ High discount on sum assured of Rs. 5 lakh and above.
^ The policy does not lapse if the premium is paid for a period of three years as it continues with the paid-up sum assured.
^ Loan against the policy with a minimum amount of Rs. 5,000 and a maximum amount of not more than 60% of the surrender value.
^ Income Tax benefits.
Eligibility:
The AEGON Religare Flexi Money Back Insurance Plan offers a choice between 3 policy terms of 14, 17 & 21 years with a premium payment term of 10, 12 & 15 years respectively. The minimum entry age is 90 days and maximum age of entry is 60, 58 or 54 years, depending on the tenure of the policy. The maximum age at maturity is 75 years and minimum sum assured is Rs. 1 lakh.
Steps to buy:
For purchasing the plan, one needs to choose the level of protection (sum assured) and choose the policy term. Depending on these factors, the annualised premium is defined which can be paid annually, semi-annually or monthly.
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