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Aegon Life Rural Term Insurance Plan is a non participating, non linked traditional term insurance plan specially designed for the rural segment. It is a single premium term insurance plan which offers the benefits of staying covered for 5 years by making just one payment. The plan offers financial security to the family members of the insured person dependent on him.BUY NOW
On the death of any of the members of the policy, the guaranteed sum assured is payable to the family of the deceased.
It is a pure protection plan and no maturity benefits are payable.
The policy will acquire a surrender value after completion of one policy year.The surrender value will be calculated as: 70% X Single Premium paid X (Outstanding coverage term in months / Total coverage term in months) The policy will terminate on payment of the surrender value.
|Age (as on last birthday)||18 Years||45 Years|
|Age at Maturity||-||50 Years|
|Policy Tenure||5 Years||-|
|Premium Paying Term||Single Premium||-|
|Premium Paying Mode||Single Premium||-|
|Sum Assured||50 Times The Single Premium||-|
|Premium||Rs 300||Rs 1,000|
No rider is available under this plan.
Let us understand it with an example.
Ram takes Aegon Life’s Rural Term Insurance Plan with a single premium of Rs 500. The sum assured will be 50 times of the single premium i.e Rs Rs 25,000. The policy term is fixed for 5 years.In case Ram dies during the policy term, Rs 25,000 will be paid to his nominee, and if he survives the policy term, nothing is payable on maturity.The plan terminates thereafter.