India's 1st IRDAI Approved Insurance Web Aggregator

AEGON Religare Flexi Money Back Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

AEGON Religare Flexi Money Back Plan

 

AEGON Religare Flexi Money Back Plan is a Money Back Plan with Bonus facility. It is a Traditional Participating Plan with Limited Pay Facility.

 

How it works— In this plan, the premium needs to be paid according to the Policy Tenure selected.

Policy Term

14 years

17 years

21 years

Premium Paying Term

10 years

12 years

15 years

 

The Life Cover continues even beyond the Premium Paying Term till the end of the policy tenure.


In this Plan 10% of the Sum Assured is paid as Survival Benefit at the end of the 4th policy year, 20% of the Sum Assured is paid as Survival Benefit at the end of the 8th policy year and 30% of the Sum Assured is paid at the end of the 12th Policy Year while the policy continues till the end of the 16th policy years.

 

When the policy matures the remaining 40% of the Sum Assured along with accrued Simple Reversionary Bonus would be paid as Maturity Benefit and the policy terminates.

 

However, if the Life insured dies within the policy tenure, 100% of the Sum Assured + with accrued Simple Reversionary Bonus would be paid as Death Benefit, irrespective of the amount already paid and the policy would terminate.

 

This plan has an in built Additional Accidental Death Benefit rider

 

Key Features of AEGON Religare Flexi Money Back Plan

 

  • This is a Traditional Money Back Plan with Bonus facility
  • Bonus accrues from the first policy year but is paid on maturity or earlier death.
  • There are 3 variants of this plan- Policy Terms 14, 17 and 21 years
  • Premium is paid only for the first few policy years while the policy continues till the end
  • Survival Benefit is paid at the end of 4th, 8th, 12th and 17th policy years depending on the Policy tenure selected
  • The remaining 40% of the Sum Assured is paid on policy Maturity.
  • 110% of the Sum Assured is paid for PT=21 years
  • Death Benefit continues even after the Premium Paying Term is over.
  • This policy provides for High Sum Assured discount.
  • Life Cover continues after 7 years of the child’s age
  • This plan has an in built Additional Accidental Death Benefit rider


COMPARE THIS PLAN WITH OTHER MONEY BACK PLANS

 

 

Benefits you get from AEGON Religare Flexi Money Back Plan

 

Death Benefit – In case of death of the Life Insured within the policy tenure, the nominee would get 100% of the Sum Assured + accrued Simple Reversionary Bonus as Death Benefit irrespective of the amount already paid and the policy would terminate.

 

Survival Benefit— This plan provides for Survival Benefit:

Policy Tenure

Survival Benefit

PT= 14 Years

10% of the Sum Assured at the end of the 4th year, 20% of the Sum Assured at the end of the 8th year and 30% of the Sum Assured at the end of the 12th Policy year

PT= 17 Years

10% of the Sum Assured at the end of the 4th year, 20% of the Sum Assured at the end of the 8th year and 30% of the Sum Assured at the end of the 12th Policy year

PT= 21 Years

10% of the Sum Assured at the end of the 4th year, 15% of the Sum Assured at the end of the 8th year, 20% of the Sum Assured at the end of the 12th Policy year and 25% of the Sum Assured at the end of the 17th Policy Year

 

Maturity Benefit – If the Life Insured is alive when the Policy Matures, the remaining 40% of the Sum Assured + accrued Reversionary Bonus would be paid as Maturity Benefit and the policy would terminate.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

 

 

Eligibility conditions and other restrictions in AEGON Religare Flexi Money Back Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

1,00,000

No Limit

Policy Term (in years)

14/17

21

Premium Payment Term (in years)

10/12

15

Entry Age of Life Insured (in years)

90 days

60 years for PT=14

58 years for PT=17

54 years for PT=21

Age at Maturity

-

75

Payment modes

Yearly, Half-Yearly and Monthly (ECS Only)

 

 

Sample illustration of premium of AEGON Religare Flexi Money Back Plan

 

Age = 30 and 35 years

Sum Assured = Rs 5 Lacs

Policy Term = 17 and 21 years

Premium Paying Term = 12 and 15 years respectively

AEGON Religare Flexi Money Back Plan Sample Premiums

 

 

Additional Features and Benefits of AEGON Religare Flexi Money Back Plan

 

Riders – There are NO additional riders available in this policy but 1 in-built rider:

  1. Additional Accidental Death Benefit rider

 

 

What happens if?

 

You stop paying the premium – 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.

 

You want to surrender the policy – There is a Guaranteed Surrender Value after 3 policy years
 Surrender Value is calculated as (Guaranteed Surrender Value Factor X Paid-up Sum Assured) + (Non-Guaranteed Surrender Value factor X Accrued Bonus).

 

You want a loan against your policy – 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.

 

 

Other Money Back Plans from AEGON Life
Compare MoneyBack Plans

Leave a Comment

Money Back Plan Calculator