Aegon Religare Future Protect Premier Plan | Features | Benefits

Your life has many phases and it changes with time. If managed properly, it can change for better. There are times when you wish to get a lot more from life with minimal efforts. We at AEGON Religare Life Insurance understand this and to meet your requirements we present the AEGON Religare Future Protect Premier Plan, a unit linked insurance plan. This limited premium paying ULIP provides you with the protection for a longer period to give you a secured tomorrow.

How does the plan work?

Step 1: Decide on the premium payment term.

Step 2: Decide on the amount of premium you wish to pay every year

Step 3: Choose the amount of insurance cover you want (Sum Assured).

Step 4: Invest your premium in choicest of 4 Funds OR a unique ‘Invest Protect’ option.

What is 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 to your returns as your policy nears maturity. It aims to protect your money by systematically shifting the Fund from Accelerator Fund to Secure Fund during the last 3 policy years.

Example: if your age at entry is 55 years and therefore the policy term becomes 15 years (70 less age at entry), the premiums paid (after premium allocation charges) will be invested in Accelerator Fund during the first 12 policy years, Stable Fund in the 13th policy year, Debt Fund in the 14th policy year and Secure Fund in the 15th policy year. Further, 10% of the total units at the beginning of 3rd last policy year will be switched monthly in Stable Fund. In 2nd last policy year, 10% of the total units at the beginning of year will be switched monthly in Debt Fund. Similarly, 10% of the total units at the beginning of the last policy year will be switched monthly in Secure Fund.

Benefits:

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.

Settlement Option – Under this option, you receive your maturity proceeds in installments over a period you choose (not exceeding 5 years). Investment risk during the settlement period is borne by you.

Partial Withdrawal - You can partly withdraw your 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.

Discontinuance Value - 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.

Death - In case of your unfortunate demise during the policy term, the nominee receives the sum assured or the fund value, whichever is higher. However, it will not be less than 105% of the total premium including the top-up premium. The fund value is the number of units in your unit account multiplied by their respective unit price.

Switch -This feature helps you shift your investments from one fund to another. Four switches are free of charge in each policy year.

Tax Benefit -The premiums paid and the benefits received under the policy will be eligible for tax benefits as applicable from time to time.

Eligibility

Minimum Annualised Premium (AP)

Premium Payment Term	Annual Mode (Rs.)	Monthly Mode (Rs.)
5 year pay	48,000 p.a.	5,000 p.m.
7 year pay	30,000 p.a.	4,000 p.m.
10 year pay	20,000 p.a.	3,000 p.m.

Policy Term (years)

70 Minus Age at entry

Premium Pay Term (years)

5 years / 7 years / 10 years

Sum Assured (SA)

Minimum (age < 45 years)

Higher of 10 times of Regular AP or (0.5 x Policy Term x AP)

(age = > 45 years)

Higher of 7 times of Regular AP or (0.25 x Policy Term x AP)

Maximum (SA Multiple x AP)

Policy Term	SA Multiple
Upto 25 years	10*AP
26 – 35 years	20*AP
36 – 45 years	30*AP
46 – 55 years	45*AP
56 years & above	50*AP

Entry Age

Minimum – 7 years; Maximum – 60 years

Maturity Age

Maximum – 70 years

Premium Payment Frequency

Yearly & Monthly

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Tags: Aegon religare Life Insurance, Future Protect Premier Plan, Insurance