AEGON Religare Assure Plan | Features | Benefits

December 8th, 2010

Aegon Religare Assure Plan

It is a unit linked insurance plan (ULIP) which provides an interesting way to protect your investments from market volatility. This plan provides returns at Special NAV.

Special NAV= 80% of highest NAV declared on every Friday, known as Reset Day

Special Fund Value= (Higher of NAV as on date or Special NAV) X Number of Units.

Illustration

If the highest NAV recorded during the policy is 40.12, the Special NAV would be 32.10 (80% of 40.12). Now even if the current value of NAV is below 32.10, the Special Fund Value will be calculated according to 32.10.

Thus, this plan protects 80% of highest value your fund had achieved and protects you from market downfalls.

This plan is ideal for you if you:

Want to accumulate money for important milestones.
Are high income earners and can opt for a higher life cover.
Want the upside of equity market with less exposure to risk.
Want limited premium payment term.

Eligibility

Minimum Annualised Premium*
Payment Mode		Premium Payment Term
		5 years		10 years
Yearly Mode		25,000		20,000
Half Yearly Mode		NA		30,000
Monthly Mode		NA		36,000
Policy Term				10 years
Premium Payment Term				5 years & 10 years
Age
Entry Age	Minimum			7 years
	Maximum			70 years
Maximum Maturity Age				80 years
Sum Assured
Minimum			Age < 45 years: 10 times annualized premium Age >= 45 years: 7 times annualized premium
Maximum			Age < 50 years: 15 times annualized premium Age >=50 years: 7 times annualized premium

*The annualized premium will remain unaltered during the policy term.

Benefits

Maturity: On maturity, you will receive the Special Fund Value.

Death: In the unfortunate case of your demise, the nominee will receive higher of-

Sum Assured
Special Fund Value

Riders: you can further enhance your cover by adding optional cover through-

Accidental Death, Dismemberment and Disability Rider
Critical Illness Rider

Tax benefits are also applicable.

Partial Withdrawal - You can partly withdraw your money after the first 5 policy years. The minimum amount of partial withdrawal is Rs. 5,000 and 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 - You can discontinue the policy any time. Discontinuance value is paid after first 5 years. Discontinuance value is Special 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.

Possibly Related Posts:

Tags: AEGON Religare Assure Plan, Insurance
Posted in Life Insurance | No Comments »