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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.

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Single Premium
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Investment Options
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Maturity Benefit
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Key Features

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Single Premium

This is a Single Premium Unit Linked Insurance Plan

Investment Options

The investment in this plan is done in Secure, Debt, Stable, Accelerator and NAV Protector Fund

NAV Benefit

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

Maturity Benefit

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

Special Units are allocated towards this plan at maturity according to the base premium amount

Benefits

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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.

How it works

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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.

Eligibility

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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

FAQs

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angle down iconWhat 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

angle down iconWhat happens if 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

angle down iconWhat happens if you want a loan against your policy?

Loan facility is not available under this policy.

angle down iconIs top up available in this plan?
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
angle down iconIs switching allowed in this plan?

This plan offers 4 free switches in each year. Switching from any other Fund to NAV Protector Fund is not allowed.

angle down iconIs Partial Withdrawal allowed in this plan?

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.

angle down iconIs Special units available in this plan?
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%