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Aegon Life Easy Protect Insurance Plan

What is the Plan all About?

You have always given the best to your loved ones. Life is unpredictable and uncertain, it is important to plan about the future of your loved ones in your loved ones in your absence. To deal with your concern Aegon life brings Easy Protect insurance plan which is a pure term plan to safeguard your family in your absence.

Key Features

  • Pure protection plan at affordable cost
  • Per month regular income for 10 years
  • Easy premium payment options
  • No Medicals under the plan
  • Tax benefits under income tax act

What are the Plan Benefits?

Death Benefit

    In case of death of the life assured  Rs 10,000 will be paid monthly  for a term of 10 years , starting from the next  policy monthly anniversary after death and claim acceptance. Nominee also has the option to take the present value of the future payouts. The interest rates calculated for deriving at the present value will be decided by the company from time to time.

Maturity Benefit

    It is a pure protection plan and no maturity benefits are payable, if the life insured survives till end of the policy term.

Surrender Benefit

    There is no surrender value payable under this policy.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 20 Years 50 Years
Age at Maturity - 60 Years
Policy Tenure 10 Years (fixed) -
Premium Paying Term Same As Policy Term -
Premium Paying Mode Annually -
Premium Amount Rs 2,021 -
Sum Assured 12 Lacs (sum Of All Payouts) -
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days -
Plan Type Offline -

Is any Rider Available with this plan?

No rider/s can be attached to this plan.

How the Plan works?

Let us understand this with the example of Mr. Mahesh

Plan Details of Mr. Mahesh
Age: 35 years
Plan Opted: Aegon Life Easy Protect insurance plan
Policy Term: 10 years
Premium Payment Term: 10 years
Annualized Premium: Rs 2714 (exclusive of service tax)

Benefits Payable
In case of unfortunate demise of Mr. Mahesh, Rs 10,000 each month for 10 years is payable. So, total payout is Rs.12,00,000.

Is the Plan, eligible for Tax Benefit?

Aegon Life Easy Protect insurance plan is eligible for Tax benefits as stated:

  • Premiums paid to qualify for tax benefits as per Section 80C of the Income Tax Act, 1961.
  • Death benefit(s) are entitled for tax benefits under Section 10 (10D) of the Income Tax Act.

(Subject to the provision stated therein.)