Bandhan Religare Level Term Plan
Aegon Religare Level Term Plan has been the company’s pioneer product. It is a simple term plan with some amazing additional benefits to suit the lifestyle of individuals. This has been done with the people and their lifestyle being kept in mind.
Key Features
It is a pure Term Insurance Policy with Death Benefit only
Additional accidental death, dismemberment and disability benefit and critical illness benefit is available
Possibility to increase sum assured twice during the policy tenure in event of child birth and marriage
Benefits
Nominee would receive the Sum Assured in event of death of the life insured during the policy tenure.
Since this is a pure term plan, there is no maturity 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
There are 2 riders in this plan- Accidental Death, Dismemberment and Disability (ADDD) Benefit rider and Critical Illness (CI) Rider.
Eligibility
|
Minimum |
Maximum |
|
| Sum Assured (in Rs.) | 5,00,000 | No Limit |
| Policy Term (in years) | 10 | 30 |
| Premium Payment Term (in years) | Single | Equal to policy term |
| Entry Age of Policyholder | 18 | 55 |
| Age at Maturity | - | 75 |
| Single premium (in Rs.) | 10,000 | NA |
| Payment modes | Single, Yearly, Half-yearly, Quarterly and Monthly | |
FAQs
What happens if you stop paying the premium?If the policy holder stops paying the premium, then the policy would lapse and all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 2 years of lapsation by paying up all due premiums with interest.
What happens if you want to surrender the policy?There are no surrender benefits under this term plan.
What happens if you want a loan against your policy?Loan facility is not available under this policy.
