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Aegon Life Regular Money Back Insurance Plan

What is the Plan all About?

Aegon Life Regular Money Back Insurance Plan provides money at regular intervals for key milestones that helps you fulfill your financial obligations. This plan also provides the life cover that ensures the family’s financial security.

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What are the Key Features?

  • Guaranteed Payouts for 10 years
  • Annual increase in benefit amount by bonus accruals
  • Flexible premium payment option
  • Add-on benefit upon Disability
  • Avail loan facility
  • Get tax benefit

What are the Plan Benefits?

Death Benefit

    In the event of the demise of the life insured during the policy term, Sum Assured on Death plus accrued reversionary bonus plus terminal bonus is payable, provided all premiums have been paid.

    The death benefit is subject to minimum of 105% of all the premiums paid (till the date of death).

    For single pay option, Sum Assured on Death is higher of sum assured or multiple of single premium. Where multiple is 1.25 times when age at entry is less than 45 years and it is 1.10 times when age at entry is 45 years or more. For 7/10 years premium pay option, Sum Assured on Death is higher of sum assured or 10 times of annualized premium.

Guaranteed Money Back Payouts

    You will receive guaranteed money back payouts upon survival at the end of every year from the 10th to the 19th Policy Year as 15% of the sum assured in each year. Money back payouts are not payable after the death of the Life Assured.

Maturity Benefit

    In case of survival of life insured till maturity of the policy, Accrued Reversionary Bonus plus Terminal Bonus is payable.

Bonus

    Simple Reversionary Bonus is payable as a percentage of Sum Assured at the end of every financial year and it is accrued at Policy Anniversaries. The accrued bonus is paid on the date of maturity or death, whichever is earlier. Once declared, bonus will become guaranteed benefit under the plan. Terminal bonus is also declared on earlier occurrence of death or maturity depending on the experience of the With-Profits fund.

Loan Benefit

    The loan amount that can be availed under this policy is up to 60% of the surrender value. The minimum loan amount is Rs 5,000.

Surrender Value

    The policy acquires the guaranteed surrender value on payment of all premiums for at least first three/two policy years, when opted for premium payment term of 10 years/7 years, respectively. Surrender value can be acquired immediately, when opted for single payment option.

    GSV of Sum Assured = (Applicable GSV Factor) * (Total Amount of Premiums Paid) less Guaranteed Money Back Payouts already paid, plus GSV of Bonus = (Applicable GSV Factor) * (Accrued Bonus)

Tax Benefit

    You can avail tax benefits under section 80C & 10(10D) the Income Tax Act, subject to change in tax laws.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 7 Days 55 Years (7/10 Pay Option), 60 Years (single Pay Option)
Age at Maturity - 75 Years (7/10 Pay Option), 80 Years (single Pay Option)
Policy Tenure 20 Years -
Premium Paying Term Single Pay/7 Years/10 Years -
Premium Paying Mode Annually, Semi Annually & Monthly -
Premium Amount Premium Amount Rs 12,000 (annually For 7/10 Year Pay Option), Rs 1 Lac (for Single Pay Option) No Limit (subject To Underwriting)
Sum Assured Depend On The Age Of The Life Assured, Premium Payment Term Opted And The Premium Amount -
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

Aegon Life Premium Shield Rider can be opted for payment of additional premium (as applicable).

How the Plan Works?

Let’s understand the plan with the help of below illustrated example.

Mr. Kumar at 35 years, wants to buy a plan that provides both regular money back plus protection. He opts to buy Aegon Life Regular Money Back Insurance Plan with the policy term of 20 years and premium payment term of 10 years with annualized premium of Rs 40,000 and sum assured of Rs 3,21,396.

Case 1: Mr. Kumar Survives through the Policy Term

If Mr. Kumar survives till the end of the policy term, Guaranteed Money Back Payouts (150% of sum assured) plus Accrued Reversionary Bonus plus Terminal Bonus is payable. This maturity amount helps meet your financial obligations.

Aegon Life Regular Money Back Insurance Plan


Case 2: Mr. Kumar dies during the Policy Term

In the event of demise of Mr. Kumar during the 15th policy year, from the end of the 10th year to the 14th policy year, he will receive Guaranteed Money Back payouts and after death, his nominee will receive higher of 10 times the Annualized Premium or Sum Assured plus accrued reversionary bonus plus terminal bonus.

Aegon Life Regular Money Back Insurance Plan 1

Note: Bonuses provided in above illustration are calculated at 4% & 8% non-guaranteed investment rate of return.