Aegon Life Saral Jeevan Bima Plan

Best suited for first time buyers of protection plans

Tax Benefits on Premiums paid and Death Benefit

In case of death of the policyholder within 45 days from the commencement of risk, only the premiums paid will be refunded and the sum assured will not be paid out.

In case you are not satisfied with the policy after receiving the policy documents, you can cancel the policy and get a refund. The can cancel the policy within the freelook period as defined here:

• Within 15 days in case the policy is not purchased electronically or through distance marketing
• Within 30 days in case the policy is purchased electronically or through distance marketing

In case you have missed the premiums and the policy has lapsed, you can revive the policy within 5 years from the last unpaid due date, but before the policy term expiry. You will have to pay all unpaid premiums without any interest.

In case of death of the polilcyholder due to suicide with 12 months of commencement of risk, the sum assured will not be paid to the nominee. Only a part of the premiums paid will be refunded as follows:

• For regular premium plans - 80% of the premiums paid will be refunded
• For single premium plans - 90% of the premiums paid will be refunded

Since this is a pure protection term insurance plan, it does not offer any maturity benefit. The purpose of this plan is to offer large life insurance protection at affordable premiums so that the nominee will receive a large sum in case something happens to the policyholder.

In the unfortunate event of the policyholder’s death, the nominee will receive the highest of the following:

For Regular Premiums (monthly, quarterly, half yearly and yearly), it is HIGHER of:

• Sum Assured or the cover amount
• 105% of all premiums paid
• 10 times the Annualised Premium

For Single Premium, it is HIGHER of:

• Sum Assured or the cover amount
• 125% of Single Premium

The Death Benefit received by the nominee is tax free.

You can avail this rider benefit by paying extra premiums. In case of death of the policyholder due to an accident, the extra amount selected as the rider sum assured will be paid to the nominee in addition to the base sum assured of the plan.