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AEGON Religare Save Guard Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.

 

AEGON Religare Save Guard Insurance Plan
 
AEGON Religare Save Guard Insurance Plan is a Term Plan with Return of Premium (TROP) Option. It is an offline Term Plan. Thus, this is a Traditional Plan without Bonus facility.
 
How it works – In this plan, premium needs to be paid till the end of the Policy Tenure.
 
There are 2 options to be selected from:
  • Option 1- In this option, there is an inbuilt Accidental Death Benefit rider. Thus, in case of death of the Life Insured, the Sum Assured will be paid to the nominee. However, in case of an accidental death of the Life Insured within the Policy Tenure, an additional benefit amounting to the Sum Assured will be paid to the nominee as Accidental Death Benefit and the policy would be terminated. The maximum Sum Assured under this option is restricted to 1 Crore.
  • Option 2- This option is without inbuilt Accidental Death Benefit. In this option, in case of death, Sum Assured will be paid to the nominee as Death Benefit and the policy terminates.
 
However, on survival till the end of the Policy Tenure, all Premiums Paid till date, excluding any rider premium, tax or extra premium paid for inforce policies and Paid-up Sum Assured in case of Paid-up policies as Maturity Benefit and the policy terminates.
 
 
Key Features of AEGON Religare Save Guard Insurance Policy
 
  • It is an offline Term Plan with regular premium option
  • There are 3 Policy Tenures to choose from- 10, 15 and 20
  • There are 2 options to be selected from
    • Option 1- with inbuilt Accidental Death Benefit rider
    • Option2- without Accidental Death Benefit rider
  • On survival till the end of the Policy Tenure, all Premiums Paid till date is returned as Maturity Benefit
  • There is an additional rider- Critical Illness Benefit Rider

COMPARE THIS PLAN WITH OTHER TERM PLANS
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    Benefits you get from AEGON Religare Save Guard Insurance Policy
     
    Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee gets the Basic Sum Assured as Death Benefit. There are 2 options to be selected from.
    • Option 1- In this option, there is an inbuilt Accidental Death Benefit rider. Thus, in case of an accidental death of the Life Insured within the Policy Tenure, an additional benefit amounting to the Sum Assured will be paid to the nominee as Accidental Death Benefit and the policy would be terminated. The maximum Sum Assured under this option is restricted to 1 Crore.
    • Option 2- This option is without inbuilt Accidental Death Benefit. In this option, in case of an accidental death, no additional Sum Assured will be paid to the nominee.
     
    Maturity Benefit – The Premiums Paid till date are paid back as Maturity Benefit on survival till the end of the Policy Tenure.
     
    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.
     
     
    Eligibility conditions & other restrictions in AEGON Religare Save Guard Insurance Policy
     
     
    Minimum
    Maximum
    Sum Assured (in Rs.)
    2,00,000
    Option I - 1 Crore
    Option II- No Limit
    Policy Term (in years)
    10, 15
    20
    Premium Payment Term (in years)
    Equal to Policy Term
    Entry Age of Life Insured (in years)
    18
    55
    Age at Maturity (in years)
    -
    65 for PPT=10
    70 for PPT=15
    75 for PPT=20
    Annualized Premium (in Rs.)
    2,860 p.a.
    No Limit
    Payment modes
    Annual, Semi Annual and Monthly
     
    HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?


     
    Sample illustration of Premium Amount in AEGON Religare Save Guard Insurance Plan
     

    The below illustration is for a Health Male opting for Sum Assured of Rs 10,00,000 with Policy Tenure of 20 years. 
    AEGON Religare Safe Guard Plan Sample Premiums

    Additional Features and Benefits of AEGON Religare Save Guard Insurance Plan
     
    Riders – There is an inbuilt rider of Accidental Death Benefit under Option 1 of this plan.
    There is also an additional rider that can be opted for:
    • Critical Illness Benefit Rider
     
    What happens if?
     
    • You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease. If at least 3 years premiums have been paid, then the policy is converted to a Paid Up Value and the benefits continue with a reduced coverage. The policy can however be revived within 2 years from the due date of the first unpaid premium, subject to underwriting approval.
    •  
    • You want to surrender the policy – There are Surrender Benefits in this plan but after 3 Policy Years. There is a Guaranteed Surrender Value in this plan as well.
    •  
    • You want a loan against your policy – Loan facility is not available in this plan.
     
     

     
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