AEGON Religare Assure Plan

AEGON Religare Assure Plan is a unit linked insurance plan (ULIP). Thus it is a Non-Traditional Plan without Bonus facility.

How it works – In this plan, premium needs to be paid till the end of the Policy Term. The premium paid, net of charges, is allocated in the NAV Protector Fund. The NAV of this fund is declared every day. But every Friday is the Reset Day for the NAV Protector Fund.

Now, Special NAV is calculated as 80% of the highest of all NAVs on a Reset Day and Special Fund Value calculations are done by Special NAV.

Special Fund Value = Special NAV X Number of Units

Thus, when the policy matures, the Special Fund Value is given to the Life Insured as Maturity Benefit. However, if the Life Insured dies within the policy tenure, the nominee would receive the Special Fund Value or the Sum Assured, whichever is higher as Death Benefit and the policy would terminate.

This policy also offers additional Accidental Death, Disability and Dismemberment Benefit and Critical Illness Benefit riders.

• This is a unit linked insurance plan
• The investment in this plan is done in NAV Protector Fund
• Special NAV is calculated as 80% of the highest of all NAVs calculated on each Fridays, known as Reset Days
• Special Fund Value is calculated according to the Special NAV
• The Maturity benefit is calculated according to the Special Fund Value of this plan
• This policy also offers additional Accidental Death, Disability and Dismemberment Benefit and Critical Illness Benefit riders.

Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured or Special Fund Value, whichever is higher.

Maturity Benefit – On maturity, the Special Fund Value is paid to the policyholder.

Income Tax Benefit - Life Insurance premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Riders – There are 2 riders available in this policy

1. Accidental Death, Disability and Dismemberment Benefit
2. Critical Illness Benefit

Investment Fund Options - There is only 1 Investment Fund available: NAV Protector Fund

Top-up - You can invest additional premiums as top-up premiums anytime except in the last five policy years. The minimum top-up premium is Rs. 5,000.

Switching - Switching is not possible since there is only 1 fund available.

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be Rs.5, 000 and the maximum amount is 20% of the Fund Value at the beginning of the year.

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary, net of charges. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

You want to surrender the policy – No information available

You want a loan against your policy – Loan facility is not available under this policy.

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