Aegon Religare Future Protect Plan

Aegon Religare Future Protect Plan is a simple unit linked insurance plan (ULIP) such that if the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher, as Death Benefit. There is a unique option of Invest Protect Option, where the policyholder can choose to systematically move out of his current investment funds 3 years before maturity so that any volatility in the market would not affect his maturity benefit.

·         Unit linked insurance plan with an optional benefit of invest protect

·         Invest Protect Option, where the funds are invested in the equity oriented fund till the last 3 years when it is systematically taken out so as to protect from equity market fall.

·         Option of Auto Rebalancing, where the funds would rebalance automatically

·         Option of 4 fund options and 2 rider options

·         Policyholder can increase the sum assured twice during policy term

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

Maturity Benefit – On maturity, the 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

Premium = Rs.50,000

Policy Term = 10 years

Total Investment = Rs. 50,000 x 10 years = Rs.5,00,000

Riders – There are 2 riders available in this policy

1.       Accidental Death, Disability and Dismemberment Benefit

2.       Critical Illness Benefit

Investment Fund Options

There are 4 Investment Funds available

1.       Secure Fund

2.       Debt Fund

3.       Stable Fund

4.       Accelerator 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 - You have the flexibility to switch investments from one fund to the other any time during the policy term. 4 Switches are free every year. Switching is not allowed if Invest Protect Option has been selected.

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years or life insured is at least 18 years old. The minimum amount of partial withdrawal should be Rs.5, 000. An amount equal to a minimum of 2 years’ annualised premium should be maintained as fund value after any partial withdrawal.

Systematic partial withdrawals facility is available under electronic clearing service (E.C.S.) facility only.

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. 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 – The policy can be surrendered from the 6th (sixth) policy year. The surrender value will be equal to the fund value of all the premiums paid.

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

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