AEGON Religare Life Insurance Company’s Chief Operating Officer Mr. Yateesh Srivastava announced the launch of a new plan AEGON Religare Guaranteed Growth Insurance Plan. This plan is best suited for medium term investors looking for Guaranteed Return Plans without much Risk of Investment along with Insurance Protection.
This is a Unique Plan where premium needs to be paid only for a period of 8 years whereas 150% of the Premium Amount is paid EVERY year from the 10th to the 17th year end as Guaranteed Payout. For this plan minimum age of entry is 8 years whereas the maximum age is 50 years and the maximum age of maturity is 60 years.
The salient features of this product are as under:-
- Limited premium payment terms - eight years premium paying term and a ten year policy term
- Guaranteed return to customers for a period of 8 years after the policy term
- Annual return equivalent to 150% of the premium amount
- In case of death of a policy holder during the policy term, future premiums are waived off and guaranteed annual payouts are payable to the nominee
- Deduction under section 80C of the Income tax Act.
AEGON Religare is a joint venture between AEGON, Religare and Bennett Coleman and Company.