A life insurance plan that offers guaranteed benefits over time
AEGON Religare Life Insurance (ARLI) recently announced the launch of its AEGON Religare Guaranteed Growth Insurance Plan. This plan is aimed at customers who are looking at a steady return over the medium term while minimising risk.
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| Yateesh Srivastava, Chief Operating Officer, ARLI. |
In keeping with AEGON Religare's product philosophy of offering simple products with a simple and easy to understand benefit, the AEGON Religare Guaranteed Growth Insurance Plan offers the customer an 8 year premium paying term and a 10 year policy term. At the end of the policy term, the customer gets an annual return equivalent to 150% of the premium, paid for a period of eight years.
On the launch of AEGON Religare Guaranteed Growth Insurance Plan, Mr. Yateesh Srivastava, Chief Operating Officer of ARLI said, “This plan is part of the endeavor to provide simple, easy to understand and uncomplicated products to our customers. The AEGON Religare Guaranteed Growth Insurance Plan comes with a simplified proposal form, requires no medical examination and can be issued very quickly. It carries with it the benefit of providing a guaranteed return to customers for a period of eight years, after the policy term. It is an ideal plan for a medium-term investor who needs the security of growth, without undue risk."
The AEGON Religare Guaranteed Growth Insurance Plan offers the following benefits:
1. It offers the maturity benefit in the form of a yearly guaranteed payout, which is 150% of the annual premium, for a period of eight years starting after the policy term.
2. In case of death of the life assured during the policy term, the future premiums are waived-off and the nominee receives the guaranteed payouts, as scheduled, during the payout period. It also offers an option to the nominee to take the cash value of the death benefit at any point in time during the policy term.
3. The policy does not lapse if the premium is paid for at least a year as it continues with the paid-up sum assured.
4. It offers tax benefits under section 80C and 10(10D)
The AEGON Religare Guaranteed Growth Insurance Plan offers a policy term of ten years and a premium payment term of eight years. The minimum age to enter is 8 years, whereas the maximum is 50 years. The maximum age at maturity is 60 years. The minimum annual premium for the age 8 to 35 years is Rs. 20,000; for the age 36 to 45 years is Rs. 30,000 and for the age 46 to 50 years is Rs. 40,000. The maximum annual premium for the age 8 to 35 years is Rs. 3 lakh; for the age 36 to 45 years is Rs. 2 lakh and for age 46 to 50 years is Rs. 1 lakh. The premium can either be paid monthly or annually. For purchasing the plan, one needs to simply decide on the premium amount.
About AEGON Religare Life Insurance Company
AEGON, an international provider of life insurance, pension and asset management, Religare, India’s leading diversified financial services groups and Bennett, Coleman & Company, India’s largest media conglomerate, have come together to launch AEGON Religare Life Insurance Company Limited (ARLI). This venture is dedicated to build a customer-centric business and provide a work environment that fosters excellence and innovation. This joint venture adopts a local approach with the power of global expertise.
ARLI launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better. The fulfillment of this vision is based upon having a complete product suite, providing customised advice and enhancing the overall customer experience. ARLI has launched a suite of products that are focused on providing the customer with the means to meeting their long-term financial goals. At the same time, product development has been founded on the tenet of providing the customer with great value. ARLI products such as iTerm, iMaximize, Future Protect and Rising Star have been ranked among the best in terms of value and have attracted many external accolades. The Indian Insurance Awards, 2013, honoured AEGON Religare Life Insurance (ARLI) as the ‘E-Business Leader’ under the category of Overall Insurance Industry Awards.
About AEGON..
As an international provider of life insurance, pension and asset management, AEGON has businesses in over twenty markets around the world. With headquarters in The Hague, the Netherlands, AEGON companies employ approximately 24,000 people serving millions of customers across the globe. In total, the company oversees EUR 466 billion in revenue-generating investments.
AEGON’s main operations are in the United States, the Netherlands and the United Kingdom, but in recent years the company has expanded into new growth markets in Asia, Central & Eastern Europe and Latin America. AEGON is one of the largest insurance companies in the United States, and ranks first in the Dutch group pensions market and has strong market positions in individual and group pensions in the UK. The company’s shares are listed on two major stock markets: Amsterdam and New York. AEGON has more than 160 years of experience with its roots going back to 1844. http://www.aegon.com
About Religare Enterprises Limited..
Religare Enterprises Limited (REL) is one of India’s leading diversified financial services groups and offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management. Religare Enterprises is headquartered in New Delhi and is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.
Religare is also building an Asia & emerging markets focused Institutional equities and Investment Banking business and a multi-boutique global asset management platform to tap the broader opportunities offered by the most promising emerging markets around the world. http://www.religare.com
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