AEGON Religare Life Insurance Launches Money Back Plan
A Life insurance plan with guaranteed benefits at the end of the policy term and money back at specified intervals pre-maturity.
Tweet-- AEGON Religare Life Insurance today announced the launch of its AEGON Religare Money Back Plan. This plan provides customers a simple life insurance plan with guaranteed benefits at the end of the policy term and money back at specified intervals pre-maturity.
On the launch of AEGON Religare Money Back Plan, Mr Yateesh Srivastava, Chief Marketing Officer of AEGON Religare said, "This plan is aimed at allowing customers to make provisions for some intermittent financial needs with a certain amount of certainty as they know exactly what will be due both at the money back stage as well as the maturity of the plan.. We felt a strong customer need for a traditional plan with guaranteed benefits and intermittent paybacks also of a guaranteed nature. This plan has been designed to reiterate our core strategy of being customer-centric, both in terms of products as well as service and overall experience. We believe this product is suited to a certain customer need and we are excited about the product."
The AEGON Religare Money Back Plan is a ten year plan with a premium payment term of 5 years. Once customers stop paying premium after 5 years they will receive 10% of the Sum Assured on completion of the 6th year and 15% of Sum Assured on completion of the 8th year. The policy matures on completion of 10 years and customers get a minimum benefit of 100% of the sum assured depending on the sum assured. The maximum return is 110% of the sum assured.
The AEGON Religare Money Back Plan offers the following benefits.
- It provides protection for 10 years while you pay premium only for five years.
- It provides the customer with money back at the end of the 6th and 8th policy year.
- Incase of Death, it provides the nominee with 100% of Sum Assured irrespective of prior payouts.
- The policy does not lapse if premium is paid for a period of 3 years.
- It offers an optional additional cover through ADDD Rider (Accident Death, Disability, Dismemberment)
- It also offers a loan against the policy.
The minimum entry age is 8 years and maximum being 60 years with a premium paying term of 5 years. It has a fixed policy term of 10 years.
AEGON Religare Life Insurance is the coming together of AEGON, an international life insurance, pension and investment company and Religare, one of India's leading integrated financial services groups. The company, started operations in July, 2008, has a capital base of Rs 550 crore. It has over 50,000 customers and a New Business Annualised Premium of over Rs 150 crore. Currently, there are over 7,000 life advisors.
Notes to Editor
AEGON's businesses serve over 40 million customers in over 20 markets throughout the Americas, Europe and Asia, with major operations in the United States, the Netherlands and the United Kingdom. With headquarters in The Hague, the Netherlands, AEGON companies employ almost 30,000 people worldwide. The company's common shares are listed on four stock exchanges: Amsterdam, London, New York and Tokyo. It manages EUR 342 billion in revenue generating investments. AEGON has more than 160 years of experience with its roots going back to 1844. It holds 26% equity in our company. http://www.aegon.com
A diversified financial services group with a pan-India and international presence, Religare Enterprises Limited (REL) offers a range of products and services, including asset management, life insurance, wealth management, equity and commodity broking, investment banking, lending services, private equity and venture capital. REL operates from 7 domestic regional offices, 43 sub-regional offices, and has a presence in 498 cities controlling 1,837 business locations all over India as on June 2009. REL acquired UK-based Hichens, Harrison & Co. in 2008 which was subsequently re-named as Religare Hichens Harrison PLC (RHH). With the addition of RHH the REL group now operates out of multiple global locations (the UK, the USA, Brazil, South Africa, Dubai and Singapore). http://www.religare.in