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 Rising Star 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.
How does the plan work?
Step 1: Decide on the amount of premium you wish to pay every year
Step 2: Choose the amount of insurance cover you want (Sum Assured)
Step 3: Decide on the policy term and premium pay term of your policy
Step 4: Invest your premium in choicest of 4 Funds OR a unique ‘Invest Protect’ option.
Features & Benefits
Death- In case of your unfortunate demise during the term of the policy, the nominee will receive the following as death benefit:
• Higher of Sum Assured or 105% of all premiums paid immediately;
• All future premiums will be waived and paid into the Policy Fund Value;
• An amount equal to the annualised premium will be paid every year to the nominee
• On maturity, Policy Fund Value will be paid.
Maturity - On maturity, you receive the fund value existing on the maturity date. If you do not wish to take the entire maturity amount at one go, you can avail of the Settlement Option.
Tax Benefits - The premiums paid and the benefits received under the policy will be eligible for tax benefits as applicable from time to time.
Partial Withdrawal – You can partially withdraw money after first 5 policy years. The maximum amount of partial withdrawal allowed in any policy year is 20% of the fund value at the beginning of that policy year. You can also avail of AEGON Religare Rising Star 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.
Switch - This feature helps you shift your investments from one fund to another. Four switches are free in a policy year.
Top-Up Premium - A Top-Up premium is an additional amount of premium over and above the contractual basic premiums with a minimum amount of Rs. 5,000. You can top-up your premium anytime after the 1st policy year and apart from the last 5 policy years.
Discontinuance - You can discontinuance the policy any time. Discontinuance value is paid after first 5 years. Discontinuance value is fund value minus the discontinuance charges of the year in which the premiums were discontinued. The charge will depend upon the period for which you have paid your premiums, as given below. There is no charge on top-up or if the policy is discontinued after 4 policy years. This charge remains fixed throughout the policy term.
Eligibility
| Minimum Annualised Premium* (AP) | Annual mode: Rs. 20,000 p.a. |
| Other modes: Rs. 30,000 p.a. | |
| Policy Term (years) | 25 years less age at entry of the child in completed years |
| Premium Pay Term (years) | Equal to the policy term |
| Sum Assured (SA) | |
| Minimum (age is less than 45 years) | Higher of 10 times of Regular Annualised Premium or (0.5 x Policy Term x Annualised Premium) |
| (age is greater than or equal to 45 years) | Higher of 7 times of Regular Annualised Premium or (0.25 x Policy Term x Annualised Premium) |
| Maximum (SA Multiple x AP) | 30 times Regular Annualised Premium |
| Entry Age | Parent (Life Assured) Minimum – 18 years; Maximum – 60 years |
| Child (Nominee) Minimum – 1 day; Maximum – 15 years | |
| Maturity Age | Maximum – 75 years |
| Premium Payment Frequency | Yearly, Half-yearly, Monthly |
*The annualised premium will remain unaltered during the policy term.
Possibly Related Posts:
- Aegon Religare Insta Pension Plans | Features | Benefits
- AEGON Religare Assure Plan | Features | Benefits
- Aegon Religare Future Protect Premier Plan | Features | Benefits
- Aegon Religare Future Protect Plus Plan | Features | Benefits
- AEGON Religare Future Protect Plan | Features | Benefits
- Aegon Religare Money Back Plan | Features | Benefits
- Aegon Religare Money Back Plus Plan | Features | Benefits
- Aegon Religare Group Credit Life Plan | Features | Benefits
- Aegon Religare Rural Term Plan | Benefits
- Aegon Religare Group Term Plan | Features | Benefits