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.