AEGON Religare Money Back Plan
AEGON Religare Money Back Plan is a simple Money Back Plan, as the name suggests without Bonus facility. It is a Traditional Non-Participating Plan with Limited Pay Facility.
Compare this plan with other Investment Plans
AEGON Religare Money Back Plan - Key Features
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AEGON Religare Money Back Plan - Benefits
In case of death of the Life Insured within the policy tenure, the nominee would get 100% of the Sum Assured as Death Benefit...
This plan provides for Survival Benefit:
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If the Life Insured is alive when the Policy Matures, 100% to 110% of the Sum Assured would be paid as Mat
Life Insurance premiums paid up to Rs.1,00,000 are allowed as a deduction from the taxable income each year under section 80C
There is 1 additional rider available in this policy:
How it works
In this plan, the premium can to be paid for only for 5 years while the cover continues till the end of the policy term of 10 years.
In this Plan 10% of the Sum Assured is paid as Survival Benefit at the end of the 6th policy year and 15% of the Sum Assured is paid at the end of the 8th Policy Year while the policy continues till the end of the 10th policy year.
When the policy matures, 100% t0 110% of the Sum Assured, depending upon level of Sum Assured is paid as Maturity Benefit and the policy terminates.
However, if the Life insured dies within the policy tenure, 100% of the Sum Assured would be paid as Death Benefit, irrespective of the amount already paid and the policy would terminate.
There is additional Accidental Death, Disability and Dismemberment Benefit rider along with this plan.
Eligibility conditions & other restrictions in AEGON Religare Money Back Plan
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 60,000 | No Limit |
| Policy Term (in years) | 10 | |
| Premium Payment Term (in years) | 5 | |
| Entry Age of Life Insured (in years) | 8 | 60 |
| Age at Maturity | - | 70 |
| Payment modes | Yearly, Half-yearly, Quarterly and Monthly (ECS Only) | |
AEGON Religare Money Back Plan - FAQs
If you stop paying the premiums, the policy would lapse and all benefits would cease. If at least 3 years premiums have been paid, the policy continues for a reduced Sum Assured by being converted to a Paid-Up Policy.
A Paid-Up Policy can also be revived within 2 years from the date of first unpaid premium.
There is a Guaranteed Surrender Value after 3 policy years
Surrender Value = Surrender value factor X (paid-up sum assured)
Loan facility is available under this policy from 4th Policy Year onwards. Minimum amount of loan available under the policy is Rs 5,000 and maximum amount not more than 60% of the surrender value.
