AEGON Religare Future Protect Premier Plan
AEGON Religare Future Protect Premier Plan is a simple unit linked insurance plan (ULIP). Thus it is a Limited Pay Non-Traditional Insurance Plan without Bonus Facility.
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AEGON Religare Future Protect Premier Plan - Key Features
There is an option of 4 fund options In this plan, policyholder can select Invest Protect Option, where the funds are invested in the equity
There is an option of Auto Rebalancing in this plan, where the funds would rebalance automatically according to the preferred fund allocation menti
The policyholder can increase Sum Assured twice during policy term only on even like Marriage and Childbirth.
This is a Limited Pay ULIP.
AEGON Religare Future Protect Premier Plan - Benefits
In case of death of the Life Insured within the policy tenure, the nominee would get Sum Assured or Fund Value, whichever if higher, as Death Benef
On maturity, the Fund Value is paid to the policyholder.
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 are no riders available in this policy
There are 4 Investment Funds available
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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.
You have the flexibility to switch investments from one fund to the other any time during the policy term. 4 Switches are free every year....
You are allowed to make partial withdrawals in this policy after 5 complete policy years or life insured is at least 18 years old. 4 Partial Withdr
In this plan, premium needs to be paid for the tenure chosen for payment of 5, 7 or 10 years. However the policy continues till the life insured is 70 years old, even after completion of the Premium Paying Term. There is a unique option of Invest Protect Option, where the policyholder can choose to systematically move out of his current investment funds 3 years before maturity so that any volatility in the market would not affect his maturity benefit. The Fund Value would be provided to the policyholder at the end of the policy tenure as Maturity Benefit. However, if the Life Insured dies within the policy tenure, then the Sum Assured or the Fund Value, whichever is higher, Death Benefit would be paid and the policy would terminate. This plan has 4 funds for investment purpose. Minimum Maximum Sum Assured (in Rs.) Higher of 10 times X Annualized Premium or (0.5XTermXAP) for age< 45 years Higher of 7 times X Annualized Premium or (0.25XTermXAP) for age>= 45 years According to the SA Multiple Grid Policy Term (in years) 70 – Age at Entry Premium Payment Term (in years) 5/7 10 Entry Age of Life Insured (in years) 7 60 Age at Maturity (in years) - 70 Annual Premium (in Rs.) 40,000 p.a. for PPT=5 30,000 p.a. for PPT=7 20,000 p.a. for PPT=10 No Limit Payment modes Yearly and Monthly If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee. If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately. The policy can be surrendered from the 6th (sixth) policy year. The surrender value will be equal to the fund value of all the premiums paid. Loan facility is not available under this policy....
How it works
Eligibility conditions & other restrictions in AEGON Religare Future Protect Premier Plan
AEGON Religare Future Protect Premier Plan - FAQs
