AEGON Life Flexi Money Back Advantage Insurance Plan
AEGON Life Flexi Money Back Advantage Insurance Plan is a limited payment money back insurance plan with bonus facility. In this plan, there is Money Back given as per schedule in a pre-defined format. The remaining 40% of Sum Assured along with accrued simple Reversionary Bonus + Terminal Bonus would be paid as Maturity Benefit on survival till the end of the Policy Tenure.
Compare this plan with other Investment Plans
AEGON Life Flexi Money Back Advantage Insurance Plan - Key Features
Cash back at regular intervals
Life cover continues even after the end of Premium Payment Term
Increase in benefit amount every year by bonus accrual from 1st year onwards
Choice of 3 policy terms
Parent / Grand Parent can propose the plan for the child
AEGON Life Flexi Money Back Advantage Insurance Plan - Benefits
In case of death of the Life Insured within the Policy Tenure, the nominee gets (10 X Annualized Premium) or (Sum Assured + accrued bonus, if any),
The policyholder will receive a guaranteed percentage of Sum Assured as periodic survival benefit during the Policy Term. The periodic survival ben
On survival till the end of the policy tenure, the policyholder gets the remaining 40% of the Sum Assured + accrued simple Reversionary Bonus+ Term
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Pro
How AEGON Life Flexi Money Back Advantage Insurance Plan Works?
Sample illustration of premiums :
The below illustration is for a Sum Assured of Rs 5,00,000 of a healthy male of 30, 35 and 40 years of age respectively
Policy Tenure 21 yearsand 17 years
Premium Paying Term 15 years and 12 years
Eligibility conditions and other restrictions
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 1,00,000 | No Limit |
| Policy Term (in years) | 14, 17 | 21 |
| Premium Payment Term (in years) | 10 (PT=14), 12 (PT=17) and 15 (PT=21) | |
| Entry Age of Life Insured (in years) | 7 | 60 (PT=14),
58 (PT=17), 54 (PT=21) |
| Age at Maturity(in years) | - | 75 |
| Premium (in Rs.) | 13,033 p.a. | No Limit |
| Payment modes | Annually, Half Yearly & Monthly | |
AEGON Life Flexi Money Back Advantage Insurance Plan - FAQs
If the policy holder stops paying the premium, the policy lapses and all benefits cease. However, if at least 2 years’ premiums have been paid, then the policy gets converted to Paid up Policy and continues with reduced benefit. The policy can however be revived within a period of 2 years from the due date of the first unpaid premium.
There are Surrender Benefits in this plan after payment of first full year’s premium
The Guaranteed Surrender Value (GSV) will be calculated as:
GSV of Sum Assured = (Applicable GSV Factor) X (Total Amount of Premiums Paid) less Guaranteed Payouts already paid plus,
GSV of Bonus = (Applicable GSV Factor) X (Accrued Bonus)
Loan facility is available from the 4th policy year onwards upto 60% of the Surrender Value and a minimum of Rs 5,000.
