AEGON Religare Life Insurance (ARLI) announced the launch of its AEGON Religare Flexi Money Back Insurance Plan. This plan is meant for customers wary of investing in the volatile markets, looking for a simple insurance plan with guaranteed benefits. This plan offers a life cover that extends beyond the premium payment term; bonus that accrues from the first year onward; and regular income at specified intervals in addition to the maturity benefit.
The AEGON Religare Flexi Money Back Insurance Plan offers the following benefits:
- It provides an extended life cover that goes beyond the premium payment term.
- It offers an additional cover incase of death due to an accident.
- It offers bonus, which forms a part of the guaranteed benefits and is paid in case of maturity or death.
- It offers guaranteed payouts, as a percentage of the sum assured, at regular intervals.
- It offers 40% of the sum assured as maturity benefit at the end of the policy term.
- Incase of death, it provides the nominee with sum assured along with the accrued bonus irrespective of the prior payouts.
- It also offers a high discount on sum assured of ` 500,000 and above.
- The policy does not lapse if the premium is paid for a period of three years as it continues with the paid-up sum assured.
- It also offers a loan against the policy with a minimum amount of ` 5,000 and a maximum amount of not more than 60% of the surrender value.
- It offers tax benefiThe AEGON Religare Flexi Money Back Insurance Plan offers a choice between three policy terms of 14, 17 and 21 years with a premium payment term of 12 and 15 years respectively.
The minimum entry age is 90 days and maximum age of entry is 60, 58 or 54 years, depending on the tenure of the policy. The maximum age at maturity is 75 years and minimum sum assured is 1,00,000.