Investment Plans 191 views January 19, 2021

Aegon Life iReturn Insurance Plan can be the right choice for you if you are looking for a pure life protection plan along with the return of premiums paid by you. One of the best features of this plan from Aegon Life is that you can get all your premiums if you manage to survive at the end of the policy term. Individuals can enjoy features like multiple rider options, multiple policy term options and multiple premium payment term options by choosing this plan.

You must be wondering about what are those other benefits that you can enjoy? Well, on this page, we will discuss the same along with the eligibility criteria, policy term options, etc. Keep reading to know more!

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Why Should You Choose Aegon Life iReturn Insurance Plan?

What are those reasons that make an individual choose a particular life insurance plan? Well, before choosing the same, an individual should know the key features of that plan. We are showing some of the key reasons because of which you should choose Aegon Life iReturn Insurance Plan. Have a look below!

  1. One of the key features of the Aegon Life iReturn Insurance Plan is that individuals will get a life cover. With this life cover option, individuals will get a lump sum amount on death, in case the insured person dies during the policy term.
  2. Terminal Illness can be something that hurts your finances badly. When you choose this plan from Aegon Life, policyholders will get an Inbuilt Terminal Illness Benefit. This will protect your finances in case of a terminal illness.
  3. Every individual who is looking to choose an insurance plan will have different requirements. The best thing about this plan is that individuals can choose from different policy term options according to their protection requirements.
  4. Apart from choosing the policy term, individuals can also choose the premium payment term i.e. the period for which you need to pay the premium amount. If you are unable to pay the premium in one installment, you can pay the same in different premium payment frequencies – Annual, Semi-annual, and Monthly.
  5. Aegon Life iReturn Insurance Plan also allows individuals to enhance their overall protection by choosing different rider options such as Life Accidental Death Rider, Life Critical Illness Rider, Waiver of Premium Rider on Critical Illness, and Women Critical Illness Rider. Policyholders can choose to attach or detach any of the above riders at any time during the policy term.
  6. Aegon Life provides a Free Look Period of 30 days from the start of the policy within which you can cancel your policy if you are not satisfied with its terms and conditions. The company will return the premium in such a situation.
  7. The premium paid for Aegon Life iReturn Insurance Plan will be returned to you at the end of your policy term if you survive till that time.
  8. Policyholders can also avail of the tax benefits on the premium paid and benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961, respectively.

What is the Sum Assured under this Plan?

In the case of Aegon Life iReturn Insurance Plan, the sum insured amount can be as low as INR 30 lakh while it can go up to INR 4 crores.

Aegon Life iReturn Insurance Plan Benefits that You Can Enjoy

There are three benefits that individuals can enjoy with Aegon Life iReturn Insurance Plan – Death Benefit, Maturity Benefit, and Terminal Illness Benefit. We are discussing all of them in detail below. Have a look!

Death Benefit

In case an insured person dies during the policy term, the policy will provide a lump sum amount to his/her family or nominee in case of his or her death. This death benefit can be used for bill payment, loan repayment, etc.

Maturity Benefit

This plan from Aegon Life will give you the maturity benefits by returning you all the premiums that you have paid until maturity. But remember that all due premiums should have been paid, and you should survive till the policy term. The maturity benefit will not include any rider premium or GST charges.

Terminal Illness Benefit

If the insured person is diagnosed with any terminal illness during the policy term, the policy will waive off all the future base premiums, and an amount equal to 25% of the Base Policy Sum Assured will be paid to the person. With this lump sum amount, individuals can manage their finances. Do remember that the maximum terminal illness benefit can be as much as INR 100 lakh, and the death benefit will be reduced to the equal amount you received as a terminal illness benefit.

Eligibility Conditions for Aegon Life iReturn Insurance Plan

An individual should keep in mind a few important conditions when choosing the Aegon Life iReturn Insurance Plan. We are mentioning them below. Have a look!

  1. The entry age for this policy can be as low as 18 years, while it can be as much as 65 years.
  2. When it comes to the maturity of the policy, the maximum age of an individual can be 75 years.
  3. Individuals can choose from several policy term options – 5, 10, 15 or 20 years. When it comes to the premium payment term, individuals can also choose from the Single Pay option, 5 years or equal to the chosen policy term.

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