Investment Plans 312 views January 21, 2021

Looking for a plan that can provide you guaranteed returns on your regular premium payment? Well, Aegon Life iGuarantee Insurance Plan can be just what you are looking for. This plan provides both guaranteed maturity and guaranteed death benefits. Being an online plan, individuals get the flexibility to choose this plan from anywhere they want. With this plan from Aegon Life, individuals can protect their future.

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On this page, we will be discussing some of the key features of Aegon Life iGuarantee Insurance Plan along with its policy term, premium amount, eligibility conditions, etc. Read on!

Reasons to Choose Aegon Life iGuarantee Insurance Plan

It’s necessary to look at the key features of a life insurance plan when you are going to protect the life of yourself and your family. Keeping this in mind, we are showing some of the key features of the Aegon Life iGuarantee Insurance Plan so that you can make a better decision. Please check!

  1. When you are choosing Aegon Life iGuarantee Insurance Plan, you will get a sum assured amount of 10 times the annualized premium. So, your sum assured will depend directly on the premium amount.
  2. One of the most beneficial things about this plan is its availability online, which helps individuals purchase this policy anywhere, anytime.
  3. When we talk about the working of this plan, individuals only need to decide on the premium amount they wish to pay every year towards their policy, and according to this, they will get guaranteed maturity benefit.
  4. Coming to the guaranteed maturity benefit, policyholders will start to receive an annual payout for 6 years. This period will start from the end of the policy term.
  5. Other than the guaranteed maturity benefits, this plan from Aegon Life also offers a guaranteed death benefit. With this benefit, the company will pay a sum assured to the nominee, in case the insured person dies during the policy term.
  6. Your policy from Aegon Life will acquire a guaranteed surrender value when you pay a premium for the first two years without any fail. The surrender value will be calculated as a guaranteed surrender value factor x Paid-up value.
  7. Aegon Life also offers a free look period of 30 days within which a policyholder can return the policy if he or she is not satisfied with the terms and conditions of the plan.
  8. Under Section 80C and Section 10(10D) of the Income Tax Act, 1961, policyholders can enjoy tax benefits on the premium paid and benefits received on the policy, respectively.

What is the Policy Term and Premium Payment Term?

With Aegon Life iGuarantee Insurance Plan, an individual can choose a policy term of 6 years. The premium payment term will be the same as the policy term of 6 years. It means a policyholder will need to pay the premium amount throughout the policy term.

What will be the Minimum and Maximum Annualized Premium Amount?

In the case of the Aegon Life iGuarantee Insurance Plan, the minimum annualized premium amount will depend on the age of a policyholder. If an individual is less than 40 years, the minimum premium amount will be INR 48,000 per annum, while if an individual is 40 years or more, this amount can be a minimum of INR 60,000 per annum.

However, when we talk about the maximum premium amount, there is no dependence on the policyholder’s age, and it can be as high as INR 2,50,000 per annum. Individuals can also choose to pay the premium amount from two options of annual and monthly. The monthly premium will be 0.087 times the annualized premium.

Let’s Understand Aegon Life iGuarantee Insurance Plan Benefits

As we mentioned earlier in the key features, policyholders can enjoy guaranteed death and guaranteed maturity benefit with this policy from Aegon Life. If you want to know more about these benefits, have a look below!

Guaranteed Maturity Benefit

If the insured person survives until the policy term, this policy from Aegon Life will provide guaranteed maturity benefits at the end of each year starting from the end of the 6th policy year until the end of the 11th policy year from the date of policy inception. This guaranteed maturity benefit will be 135% of the annualized premium. Do remember that an individual should have paid all the premiums until the end of the policy term to get this maturity benefit.

Guaranteed Death Benefit

If a policyholder dies during the policy term, the company will pay a guaranteed death benefit to the nominee. This death benefit will be the sum assured under the plan according to the annualized premium amount. Do remember that death benefit cannot be less than 105% of the total premiums paid until the date of death. Also, the policy will terminate after the payment of the death benefit to the nominee.

Aegon Life iGuarantee Insurance Plan Eligibility Criteria

When choosing the Aegon Life iGuarantee Insurance Plan, an individual should keep a few important conditions in mind regarding the entry age and maturity age. Check below to know them!

  1. The minimum entry age stands at 12 years, which can go up to 50 years.
  2. The maturity age for this policy from Aegon Life can be as high as 56 years.

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