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AEGON Religare Money Back Plus

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

AEGON Religare Money Back Plus Plan

 

AEGON Religare Money Back Plus 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 can to be paid for only for 10 years while the cover continues till the end of the policy term of 16 years.


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 at the end of the 16 Policy Years, 60% to 100% of the Sum Assured, as applicable 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.

 

 

Key Features of AEGON Religare Money Back Plus Insurance 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.
  • Premium is paid only for the first 10 policy years
  • Survival Benefit is paid at the end of 4th, 8th and 12th policy years respectively
  • 60% to 100% of the Sum Assured is paid on policy Maturity.
  • Death Benefit continues even after the Premium Paying Term is over.
  • This policy provides for High Sum Assured discount.

COMPARE THIS PLAN WITH OTHER MONEY BACK PLANS

 

Benefits you get from AEGON Religare Money Back Plus Insurance Policy

 

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 would be paid as Death Benefit irrespective of the amount already paid and the policy would terminate.

 

Survival Benefit— This plan provides for Survival Benefit:

  • 10% of the Sum Assured is paid at the end of the 4th Policy Year
  • 20% of the Sum Assured is paid at the end of the 8th Policy Year and
  • 30% of the Sum Assured is paid at the end of the 12th Policy Year

 

Maturity Benefit – If the Life Insured is alive when the Policy Matures, 60% to 100% of the Sum Assured, as applicable, + accrued Simple 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 & other restrictions in AEGON Religare Money Back Plus Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

1,00,000

No Limit

Policy Term (in years)

16

Premium Payment Term (in years)

10

Entry Age of Life Insured (in years)

90 days

60

Age at Maturity

-

76

Payment modes

Yearly, Half-Yearly and Monthly (ECS Only)

 

 

Sample illustration of premium of AEGON Religare Money Back Plus Policy

 

Age = 30, 35, 40 and 45 years

Sum Assured = Rs 5 Lacs

Policy Term = 16 years

Premium Paying Term =10 years

AEGON Religare Money Back Plus Plan Sample Premiums

 

 

Additional Features and Benefits of AEGON Religare Money Back Plus Plan

 

Riders – There are NO additional riders available in this policy:

 

 

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 = Surrender value factor X (paid-up sum assured)  

 

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.

 

 

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