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AEGON Religare Assure Plus Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

AEGON Religare Assure Plus Plan
 
AEGON Religare Assure Plus Plan is a Single Premium 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 in a lumpsum at the policy inception. There are 5 Funds in this plan- Secure, Debt, Stable, Accelerator and NAV Protector Fund.
 
In this plan, the premium paid, net of charges, is allocated in whichever fund is chosen by the policyholder. The Fund Value is calculated according to the number of units multiplied by the NAV.
 
If the NAV Protector Fund has been chosen, then Special Fund Value is calculated. The NAV of this fund is declared every day. But every Friday is the Reset Day for the NAV Protector Fund, when the Fund is balanced according to the Asset Allocation. 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 (if NAV Protector Fund is chosen) or Fund Value (if any other fund is chosen) 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/Fund Value or the Sum Assured, whichever is higher as Death Benefit and the policy would terminate.
 
Special Units are allocated towards this plan at maturity according to the base premium amount.
 
 
Key Features of AEGON Religare Assure Plus Insurance Plan
 
  • This is a Single Premium Unit Linked Insurance Plan
  • The investment in this plan is done in Secure, Debt, Stable, Accelerator and NAV Protector Fund
  • For NAV Protector Fund, Special NAV is calculated as 80% of the highest of all NAVs calculated on each Fridays, known as Reset Days and Special Fund Value is calculated according to the Special NAV
  • The Maturity Benefit is Special Fund Value, if NAV Protector Fund has been chosen and Fund Value, if any other Fund has been chosen
  • Special Units are allocated towards this plan at maturity according to the base premium amount

COMPARE THIS PLAN WITH OTHER ULIP PLANS

 
Benefits you get from AEGON Religare Assure Plus Insurance Policy
 
Death Benefit – In case of death of the Life Insured within the Policy Tenure, then the nominee would be paid the Sum Assured or Fund Value or Special Fund Value, whichever is higher as Death Benefit and the policy would terminate.
 
Maturity Benefit – On survival till policy maturity, the Fund Value or the Special Fund Value, whichever is applicable, is paid to the policyholder as Maturity Benefit and the policy would terminate.
 
Income Tax Benefit - Premiums paid under life insurance policy are exempted from tax under Section 80C and the maturity proceeds are exempted from tax under Section 10 (10D) subject to fulfilment of all terms and conditions.
 
 
Eligibility conditions & other restrictions in AEGON Religare Assure Plus Policy
 

 

 
Minimum
Maximum
Sum Assured (in Rs.)
5 X Single Premium
10 X Single Premium for Age<= 52
5 X Single Premium for Age >=53
Policy Term (in years)
10
Premium Payment Term (in years)
Single
Entry Age of Life Insured (in years)
8
60
Age at Maturity (in years)
18
70
Single Premium (in Rs.)
50,000 for NAV Protector Fund and 30,000 for other Funds
No Limit
Payment modes
Only Single
 
 
Additional Features and Benefits of AEGON Religare Assure Plus Plan
 
Riders – There are no riders available in this policy
 
Investment Fund Options - There are 5 Investment Funds available:
  1. NAV Protector Fund
  2. Secure Fund
  3. Debt Fund
  4. Stable Fund
  5. 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.

 

Age at making the top-up
Below 45 years
45 years and above
Minimum SA multiple
1.25 X Top Up Amount
1.10 X Top Up Amount
Maximum SA multiple
5 X Top Up Amount
5 X Top Up Amount
 
Switching - This plan offers 4 free switches in each year. Switching from any other Fund to NAV Protector Fund is not allowed.
 
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 such that the Fund Value should not be less than 20% of the single premium.
 
Special Units - This policy offers special units according to the Single Premium Amount.

 

Single Premium
Rate of Special Unit
Rs 30,000 to Rs 49,999
0%
Rs 50,000 to Rs 99,999
2.20%
Rs 1,00,000 and above
3.20%
 
 
Charges in AEGON Religare Assure Plus Plan
 
Premium Allocation Charge – This charge is deducted from the Premium Paid by you.

 

Type of Premium
Premium Allocation Charge
Single Premium
5% of the Single Premium Paid
Top-Up Premium
3% of the Top-Up Premium Paid
 
 
Policy Administration Charge— This is the charge for the administrative working of the policy and is deducted by cancellation of units on a monthly basis till a maximum of Rs 500 per month.

 

Policy Year
Policy Administration Charge
1st -5th year
0.12% of the Single Premium per month
6th year onwards
NIL
 
 
Fund Management Charge– This charge is deducted by adjusting the NAV of the units on a daily basis.

 

Type
Charge
Secure Fund
1.00% of the Secure Fund Value
Debt Fund
1.10% of the Debt Fund Value
Stable Fund
1.35% of the Stable Fund Value
Accelerator Fund
1.35% of the Accelerator Fund Value
NAV Protector Fund*
1.35% of the NAV Protector Fund Value
 
 
Cost of Guarantee— This is the charge for providing NAV protection if the NAV Protector Fund has been opted for. The charge is 0.10% p.a. and will not increase more than 2% p.a.
 
Discontinuation Charge— This charge is for discontinuing the plan before the end of the Policy Tenure. There are no charges whatsoever.
 
Mortality Charge — This charge is paid for the Life Coverage provided according to the Sum At Risk. This is based on the mortality rates which are specified for all ages and amount of cover being provided.
 
Service Tax would be applicable on the charges depending on the applicable rates.
 
 
What happens if?
 
You stop paying the premium– There is only single premium option in this plan. Hence there is no question of further payment of premium
 
You want to surrender the policy – Surrender of a plan is allowed only after completion of 5 policy years. There is no surrender charge under this plan
 
You want a loan against your policy – Loan facility is not available under this policy.
 


 
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