AEGON Religare Money Back Plus

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 4^th policy year, 20% of the Sum Assured is paid as Survival Benefit at the end of the 8^th policy year and 30% of the Sum Assured is paid at the end of the 12^th Policy Year while the policy continues till the end of the 16^th 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.
 

• 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 4^th, 8^th and 12^th 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.

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

 
__CALLBACK_TEMPLATE__
 

Age = 30, 35, 40 and 45 years

Sum Assured = Rs 5 Lacs

Policy Term = 16 years

Premium Paying Term =10 years

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

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 4^th 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.