AEGON Religare Child Plans

Star Child Plan

AEGON Religare Child Plans are life insurance plans that can help you save for your child’s future goals. This plan comes with a Waiver of premium feature, which guarantees to waive all future premiums in event of your demise, and ensures that your child receives full sum assured immediately and 100% of fund value on maturity of policy.



Your dream has always been to see your children outshine your dreams. To be able to meet their needs and aspirations is what you always strive towards. Life, if systematically managed, can keep changing for the better leading to a more secure future for your children. AEGON Religare Star Child Plan aims to help you in doing just that. It not only makes provisions for your children’s future but also ensures that their future remains secured. With the help of our Life Agent, fill out the Life Planner that will help you take the steps to having your own plan.


waiver of Premium

In the event of your unfortunate demise we waive off all future premiums due.



Other Features and Benefits



Invest Protect Option

If you opt for Invest Protect option, it will not only help you gain from your investment but also minimize the risk of returns as your policy nears maturity. It aims to protect your money by systematically shifting the Fund from the Enhanced Equity Fund to the Secure Fund during the last 3 policy years.



Auto-rebalancing

At the end of every policy year, this feature automatically rebalances the allocation of your investments in various funds to the original proportions you had chosen.



Special Units

The special units will be added to your account at the end of 9th policy year and at the end of every 3rd year thereafter. The value of special unit would be equal to 2.10% of the average fund value of the last 36 months before the allotment of special units.



Premium Re-direction

Premium Re-direction feature allows you to alter the premium allocation made by you in different funds.



Switch

This feature helps you shift your investments from one fund to another. Four switches are free in a policy year.



Maturity

On maturity, you receive the fund value existing on maturity date. If you do not wish to take the entire maturity amount at one go, you can avail of the Settlement Option.



4 Fund Options

You have the option of choosing from 4 funds – Secure, Debt, Balanced and Enhanced Equity Fund.



Partial Withdrawal

You or the nominee after death of the Life Assured can partially withdraw your money after first 3 policy years. The maximum amount of partial withdrawal in any policy year is 50% of the fund value at the beginning of that policy year. You can also avail of AEGON Religare Star Child Plan’s Systematic Partial Withdrawal facility by which we redeem units periodically from your unit account and credit the money to your bank account. You can opt for systematic partial withdrawal frequency, say monthly or quarterly for the duration you choose.



Settlement Option

Under this option, you or the nominee after death of the Life Assured, receive maturity proceeds in instalments over a period you choose (not exceeding 5 years). Investment risk during the settlement period is borne by you.



Surrender

You can surrender the policy anytime after the first 3 policy years. Surrender value is fund value minus the surrender charges. The charges will depend up on the period for which you have paid your premiums. The policy can not be surrendered after death of the Life Assured. There is no charge if the policy is surrendered after 5 policy years.



Death

In case of your unfortunate demise during the term of the policy, the nominee will receive the Sum Assured. On payment of Sum Assured, the units in the policy account remains invested but, the base cover and other covers under all riders attached with the policy will stop. However, all future premiums due after death of the assured parent, will be waived and paid by the Company into the policy unit account on their respective due dates. For polices lapsed in first 3 years, the death benefit will be the fund value.



In case of child’s or nominee’s death: If the child or nominee die after the assured parent’s death, the policy continues and the future premiums will be paid by the Company.




Tax Benefits

Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for AEGON Religare CI Rider may qualify for a deduction under Section 80D of the Income Tax Act, 1961. Consult your tax advisor for confirmation.

Aegon Religare Level term Plans

Term insurance is the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium rupies basis. life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments and/or conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term life insurance is the original form of life insurance and can be contrasted to permanent life insurance such as whole life, universal life, and variable universal life. Unlike permanent life insurance policies guarantee coverage at fixed premiums for the lifetime of the covered individual. Additionally many permanent life insurance products build a predetermined cash value over the life of the contract available for later withdrawal by the client under specific conditions. However on most cash value policies like Whole Life insurance the only way to receive the "savings" is to cash out the policy. The beneficiaries receive the face value of the insurance but NEVER the cash value with Whole Life policies. That is one reason that most experts advise families to buy term insurance

Features and Benefits



Enhanced Sum Assured



There are some special occasions in life such as your marriage or the birth of your child that need your support. On such occasions this policy gives you the option to increase your Sum Assured. This increase in the sum assured is subject to a maximum of 50% of the sum assured or Rs 10 lakh (whichever is lower), without the hassle of going through a medical examination or any other underwriting requirements.



Grace period



You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.



Lapsed Policy Reinstatement



You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums.



Free Look Cancellation



In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.

Death: Incase of unfortunate demise, the benefit payable to nominee is sum assured and it does not change during the term of the contract.





Tax Benefits



Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for AEGON Religare CI Rider may qualify for a deduction under Section 80D of the Income Tax Act, 1961. Consult your tax advisor for confirmation.

AEGON Religare Invest Maximiser

AEGON Religare Invest Maximiser Plan is a ULIP with the highest IRR currently available in the industry. In other words, this plan has the lowest charges which help the customer maximise their investments.

AEGON Religare Invest Maximiser Plan offers the following unique benefits.

The minimum entry age is 90 days and maximum being 50 years with a minimum annualised premium of Rs 12,000.
It offers the lowest premium allocation charge in the industry. The charges are at 5% for the first year and 2% from second to fourth year. There are no charges starting fifth year of the policy.
It offers guaranteed special units to the policyholders starting from the end of the 10th policy year, and every 3rd year thereafter.
It offers a life cover of 5 times the annualised premium.
The AEGON Religare Invest Maximiser Plan offers 12 free switches every year and allows free systematic partial withdrawal, in addition to partial withdrawals. Systematic partial withdrawals allow the policyholder to receive payments either monthly, quarterly or annually.
The customer also has the flexibility to pay premiums. The life cover does not lapse even if the policyholder stops paying the premium after three years.
There is no surrender charge if the policy is surrendered after the completion of the 4th policy year.
It offers tax benefits under section 80C and 10(10D). Money paid as premium is eligible for benefit under section 80C, and money received on maturity, death, surrender or withdrawal is exempt from tax under the section 10(10D).

AEGON Religare Life Insurance is the coming together of AEGON, one of the world’s largest life insurance and pension groups and Religare, one of India’s leading integrated financial services groups.