AEGON Religare Life Insurance launches Flexi Money Back Plus Insurance Plan

AEGON Religare Life Insurance (ARLI) today announced the launch of its AEGON Religare Flexi Money Back Plus Insurance Plan. The AEGON Religare Flexi Money Back Plus Insurance Plan is a product aimed at combining certainty along with returns at regular intervals. The plan is targeted at customers looking for a simple insurance plan with guaranteed benefits.

On the launch of AEGON Religare Flexi Money Back Plus Insurance Plan, Yateesh Srivastava, Chief Marketing Officer & Head – Talent of AEGON Religare said, “The investment climate remains uncertain and volatile. 

In such times customers seek shelter in products that provide guarantees. At the same time the ‘money back’ component of the plan allows for a cash flow at regular and pre-determined intervals. In addition to the guaranteed returns customers can also look forward to an upside through accrued bonuses from the first year onward.”

In addition, the AEGON Religare Flexi Money Back Plus Insurance Plan offers the following benefits:

1.    Extended life cover that goes beyond the premium payment term.

2.    ADDD Rider can be added to the plan, to provide extra cover incase of death due to an accident.

3.    Bonus, which forms a part of the guaranteed benefits and is paid in case of maturity or death.

4.    Guaranteed pay-outs, as a percentage of the sum assured, at regular intervals.

5.    40% of the sum assured as maturity benefit at the end of the policy term.

6.    Incase of death, it provides the nominee with 200% of the sum assured (capital sum assured) along with the accrued bonus irrespective of the prior pay-outs.

7.    Choice of three policy terms -14 years, 17 years and 21 years.

8.    The policy does not lapse if the premium is paid for a period of two years as it continues with the paid-up sum assured.

9.    Loan against the policy with a minimum amount of ` 5,000 and a maximum amount of not more than 60% of the surrender value.

10.  Applicable tax benefits.

The AEGON Religare Flexi Money Back Plus Insurance Plan offers a choice between three policy terms of 14, 17 and 21 years with a premium payment term of 10, 12 and 15 years respectively. 

The minimum entry age is 7 years 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. The minimum annual premium is `13,033.

For purchasing the plan, one needs to choose the level of protection (sum assured) and choose the policy term. Depending on these factors, the annualised premium is defined which can be paid annually, semi-annually or monthly.