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Investment Plans 658 views January 16, 2021
Retirement is one of the crucial milestones for individuals as they look to live the glorious phase of their life after finishing their work life. However, retirement comes with a halt on regular income and could make you compromise on your lifestyle. But with Aegon Life Insta Pension Plan, you can stay free from any such worries. The plan can ensure regular income during your retirement days while also providing financial protection to your dependent members in case you die. With this life insurance plan, individuals can receive a regular income at different frequencies as per their needs.
Want to secure your life after retirement? In this case, you would want to know more about Aegon Life Insta Pension Plan? On this page, we will discuss some of its important aspects, such as key features, annuity frequency options, eligibility, etc. Read on to know more!
Table of Contents
We all desire to maintain our lifestyle even after our retirement, and Aegon Life Insta Pension Plan ensures that you can do so. It is a non-linked non-participating individual immediate annuity plan that takes care of your immediate needs. But what are the other reasons that should make you choose this plan from Aegon Life? We are discussing some of them below that you can check!
As we told you earlier that individuals can choose from the two annuity options while going for Aegon Life Insta Pension Plan. You must want to know both these options in detail. Well, we are providing the same below. Do check!
With this option, the Insured Person will receive a regular income throughout his or her life until death. This regular income will be in the form of an annuity. In case of the death of the insured person, the policy will stop providing any payouts and terminate by itself.
This option provides the same benefit (Regular income via Annuity) as Life Annuity option. However, in case of the demise of the insured person, the nominee will receive the purchase price excluding taxes (if any), which will be the single premium paid at the time of policy inception. Also, the policy will terminate after the demise of the insured person.
Do remember that the policy will provide an annuity according to your chosen annuity frequency from the date of purchase of the Aegon Life Insta Pension Plan. All the annuity frequencies other than the annual options are mentioned below.
Frequency | Annuity Installment (per frequency) |
---|---|
Half-yearly | 98% of Annual Annuity x 1/2 |
Quarterly | 97% of Annual Annuity x 1/4 |
Monthly | 96% of Annual Annuity x 1/12 |
There are a few important points related to the eligibility of the Aegon Life Insta Pension Plan that you should keep in mind when going for this life insurance plan. We are showing them below. Have a look!