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AEGON Life iGuarantee Insurance Plan

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AEGON Life iGuarantee Plan

AEGON Life iGuarantee Plan is an Endowment Plan which offers guaranteed returns. The policy has a limited premium paying term of 6 years. iGuarantee can be purchased online and does not require the policyholder to undergo any medical tests.

How it works – In this plan, premium needs to be paid till the end of the Policy Tenure of 6 years. However, once the Policy Tenure is over, there is a Guaranteed Return of 135% of the Annualized Premium every year from the end of the Policy Tenure for a Payout Period of 6 years.
 

Sample Illustration of AEGON Life iGuarantee Insurance Plan

Annual Premium Payable for 6 Years = Rs.1,00,000/-
Total payout = Rs. 8,10,000 i.e. Rs. 1,35,000 each for 6 years.

Assured Payout would be Rs.8,10,000 (Rs.1,35,000/- for 6 years), i.e. from the end of the 6th year till the end of 11th year. This payout received is the Maturity Benefit staggered over 6 years after the end of the Policy Tenure.

 

Key Features of AEGON Life iGuarantee Policy  

  • Guaranteed returns on maturity - 135% returns on annualized premium paid
  • Can be easily bought online
  • Limited premium payment term of 6 yrs
  • No medicals
  • Guaranteed death benefit of SA = 10x Annualized premium

 

COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS

 

Benefits you get from AEGON Life iGuarantee Policy

Death Benefit – In case of death of the Life Insured within the Policy Tenure, the Sum Assured would be paid to the nominee as Death Benefit and the policy would be terminated.

 

Maturity Benefit – On survival till the end of the policy tenure, the policyholder gets 135% of the Annualized Premium every year for a period of 6 years. This would be payable every year for a period of 6 years.

 

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 and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.


Illustration 01


Illustration 02

Total payout = Rs. 8,10,000 i.e. Rs. 1,35,000 each for 6 years.


 

Eligibility conditions and other restrictions in AEGON Life iGuarantee Policy

 

 

Minimum

Maximum

Sum Assured (in Rs.)

10 X Annualized Premium

Policy Term (in years)

6

Premium Payment Term (in years)

6

Payout Term (in years)

6

Entry Age of Life Insured (in years)

12

50

Age at Maturity (in years)

-

56

Premium (in Rs.)

Age <  40 years: 48,000 p.a.

Age >=40 years: 60,000 p.a.

2,50,000

Payment modes

Annual and Monthly

 

 

Additional Features and Benefits of AEGON Life iGuarantee Plan

Riders – There are no additional riders in this plan.

 

 What happens if? 

You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease. However, if at least the first two years premiums are paid, then the policy continues as a Paid-Up Policy with reduced benefits. The policy can however be reinstated within 2 policy years from the due date of the unpaid premium.

You want to surrender the policy – There are Surrender Benefits after completion of 2 policy years.

The Surrender Value is calculated as (a Guaranteed Surrender Value Factor X Paid-Up Value).

You want a loan against your policy – Loan facility is not available in this plan.

 

Other Endowment Plans from AEGON Life Life Insurance 

 None

Disclaimer from AEGON Religare Life Insurance Co. Ltd.
Insurance is the subject matter of the solicitation. This is a non- participating non- linked savings plan and we do not offer policy loan in this plan. The tax benefits are subject to change as per change in tax laws from time to time. Please consult your tax advisor for further details. For more details on risk factors, terms and conditions, please read the sales brochure and benefit illustration carefully before concluding a sale. AEGON Life iGuarantee Insurance Plan UIN 138N047V01.

Beware of spurious phone calls and fictitious/fraudulent offers. IRDA Clarifies to public that
IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge police complaint along with details of phone call, number.

AEGON Life Life Insurance Company Limited Registration No. 138.
Registered office:  AEGON Life Life Insurance Company Limited, Building No. 3, Third Floor,
Unit No. 1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai- 400063.



 

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