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Investment Plans 285 views January 21, 2021
Aegon Life POS Guaranteed Return Insurance Plan helps you fulfill your future goals along with a death cover. This plan from Aegon Life offers 100% guaranteed returns along with covering your life. With this non-linked, non-participating life insurance plan from Aegon Life, the guaranteed returns will be in the form of a lump sum payment at maturity. Individuals can also enjoy special features like Loyalty Boosters, Guaranteed Additions, convenience to choose policy term and premium payment term, etc.
You would want to know more about this plan. Don’t worry, as we will be providing details about the key features of Aegon Life POS Guaranteed Return Insurance Plan along with its policy term options, premium amount, and eligibility criteria. Read on to know more!
Table of Contents
Why Should You Choose Aegon Life POS Guaranteed Return Insurance Plan?
Aegon Life POS Guaranteed Return Insurance Plan comes with attractive features because of which individuals choose this plan to protect their as well as their families’ lives. We are providing the same below so that you can understand better. Please check!
- With this life insurance plan from Aegon Life, you can save a regular amount for the desired period, and the company will pay a guaranteed lump sum amount. A policyholder can get an estimate about this lump sum amount that he or she will get after the policy term.
- When we talk about the guaranteed maturity benefit on this plan, this benefit can range from 225% to 325% of the basic sum assured.
- Aegon Life POS Guaranteed Return Insurance Plan also provides guaranteed additions at the end of every year through the policy term. This addition will be 10% of the basic sum assured to the policyholders’ investment.
- Another key feature that makes individuals choose this plan is the Loyalty Boosters that will be equal to 25% of the basic sum assured by the time the plan matures. In a way, your policy rewards you for keeping your investment throughout the policy term.
- Policyholders can get guaranteed benefits on death or surviving until the policy term.
- You can choose to pay a premium for a limited term to enjoy the policy benefits throughout the policy term. This can be quite beneficial for those individuals who don’t want to pay a premium throughout their policy term.
- When it comes to the policy term and premium payment term, individuals can choose from various options.
- Policyholders can choose this plan from Aegon Life without undergoing any medical screening.
- On paying the premium paid and maturity benefits received, individuals can also enjoy tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, respectively.
What is the Minimum and Maximum Premium Amount?
You need to know that Aegon Life provides different options when it comes to premium payment mode. An individual can choose from yearly mode, half-yearly mode, or monthly mode. The minimum and maximum premium amounts vary according to the frequency mode chosen by policyholders. We are showing the same in the below table. Please check!
| Premium Payment Mode | Minimum Premium Amount (In INR) | Maximum Premium Amount (In INR) |
|---|---|---|
| Yearly | 10,000 | 1,00,000 |
| Half-yearly | 7,500 | 51,200 |
| Monthly | 1,500 | 8,700 |
What are the Policy Term and Premium Payment Term Options?
In the case of Aegon Life POS Guaranteed Return Insurance Plan, individuals can choose from policy term options that range from 10 to 20 years. However, individuals don’t need to pay throughout their policy term, and instead, they can choose premium payment terms from 5, 7 and 9 years.
Aegon Life POS Guaranteed Return Insurance Plan Benefits that You Should Know
With Aegon Life POS Guaranteed Return Insurance Plan, you can enjoy guaranteed maturity and death benefits. We are discussing both of them below that you can check!
Maturity Benefit
If an individual has paid all the premiums until maturity, the policy will provide guaranteed maturity benefits at the end of the policy term. This benefit will be the sum of the following amounts.
- Basic Sum Assured (it will depend on the annualized premium, policyholder’s age at the time of entry, chosen policy term & premium payment term)
- Guaranteed Additions (10% of the basic sum assured at the end of each policy year)
- Loyalty Booster ( 25% of the basic sum assured will be accumulated to the policy at the end of the policy term)
To know more about the maturity benefit, you can check the below table.
| Policy Term | Guaranteed Maturity Benefit as a % of the Basic Sum Assured |
|---|---|
| 10 | 225% |
| 11 | 235% |
| 12 | 245% |
| 13 | 255% |
| 14 | 265% |
| 15 | 275% |
| 16 | 285% |
| 17 | 295% |
| 18 | 305% |
| 19 | 315% |
| 20 | 325% |
Guaranteed Death Benefit
If an insured person dies during the policy term, the policy from Aegon Life will also provide a guaranteed death benefit to the nominee along with the accumulated guaranteed additions. The sum assured on death can be the highest of the following amounts
- Basic sum assured + Loyalty Booster
- 10 times the annualized premium amount
- 105% of the total premiums received up to the date of death
Aegon Life POS Guaranteed Return Insurance Plan Eligibility Criteria
We are showing a few important eligibility criteria related to the Aegon Life POS Guaranteed Return Insurance Plan below. Don’t forget to check them!
- The minimum entry age can be as low as 1 year, while it can be up to 50 years.
- Coming to the maturity age, this can be a minimum of 18 years, while the maximum can be as high as 65 years.