Aegon Life Savings/Investment Plans

Savings and investment plans are life insurance products that allow you to save money over a long term while at the same time insuring your life against death and disability. So you get higher maturity benefits as well as a decent death benefit – both of which would help your family meet their future monetary needs. Aegon Life Savings and investment plans is extremely useful if you wish to accumulate wealth for your future needs. Maturity benefits in such plans would be higher than the death benefits, usually.

The company, a leading life insurance provider, offers attractive and flexible savings solutions. Aegon Life ensures that you avail what you have been promised at the right time. This will help you to achieve your goals regardless of your situation.

Benefits of Aegon Life Savings and Investment Plans:

Here are some reasons why savings and investment policies are good you:

• These policies help you save money for the future while giving a life insurance cover.
• The policies are easy to understand and require no maintenance from your side.
• You can create a future corpus of funds because these policies invest your money in various savings instruments.
• You can make premium payments as per your convenience – monthly, quarterly, half-yearly or annually – and choose a premium amount that you can afford. You can also make regular full-policy term payment, premium payment for limited years and single payments.
• You can choose a policy tenure according to the age at which you might need extra funds, and you can use the money for various purposes instead of taking a personal loan.
• You can get loyalty bonuses and other perks on long-term policies.
• You can discontinue a policy without heavy penalties.
• You can take a secured loan against these policies from banks and non-banking financial companies.

Savings and Investment Plans offered by Aegon Life:

Given below are the details of the savings and investment schemes in the Aegon Life portfolio:

Plan Name	Entry Age	Maturity Age	Minimum Premium
Aegon Life Jeevan Riddhi Insurance Plan	18 to 55 years for Limited Pay plan 18 to 60 years for Single Pay scheme	70 years	Rs.12,000 p.a.
Aegon Life Regular Money Back Insurance Plan	7 days to 55 years for Limited Pay options 7 days to 60 years for Single Premium option	75 years for Limited Pay options 80 years for Single Premium option	Rs.12,000 p.a.
iGuarantee Insurance Plan	12 to 50 years	56 years	Rs.48,000 p.a.
Aegon Life Jeevan Shanti Insurance Plan	8 to 50 years	NA	Rs.500 per month
Guaranteed Growth Insurance	8 to 50 years	60 years	Rs.20,000 p.a.

Aegon Life Jeevan Riddhi Insurance Plan:

This is a participating, non market-linked endowment policy that gives you simple reversionary bonus as per the sum assured as death benefits. Aegon Life offers guaranteed additions of 5% on the sum assured during the policy tenure. Other important details about the Aegon Life Jeevan Riddhi Insurance Plan are:

• Entry age: 18 years to 55 years for Limited Pay policies and 18 to 60 years for Single Pay schemes
• Age at policy maturity: 70 years
• Policy tenure: 10 years for Single Pay plans, 12 to 20 years for Limited Pay schemes
• Premium payment: Policy term minus 5 years
• Minimum premium amount: Rs.12,000 for policy terms of 17 to 20 years, Rs.15,000 for policy tenures of 12 to 16 years, and Rs.1 lakh for Single Pay options
• Minimum sum assured: Depends on your age, premium payment term and the annualised premium amount
• Premium payment frequency: Once in a year, once in 6 months or once a month
• Riders available: Aegon Life Premium Shield Rider

Aegon Life Regular Money Back Insurance Plan:

This is a policy that gives you money back in a staggered manner after your premium payment period is completed. You are sure to get money for a duration of 10 years after the premiums are paid, and the savings grow every year through bonuses.

• Entry age: 7 days to 55 years for Limited Pay, 7 days to 60 years for Single Premium
• Age at policy maturity: 75 years for Limited Pay, 80 years for Single Premium
• Policy tenure: 20 years
• Premium payment: Single Pay, Limited Pay 7 years and Limited Pay 10 years
• Minimum premium amount: Rs.12,000 annually for Limited Pay plans, and Rs.1 lakh for Single Premium plans
• Minimum sum assured: Depends on your age, premium payment term and the annualised premium amount
• Premium payment frequency: Annual, semi-annual or once a month
• Riders available: Aegon Life Premium Shield Rider

Aegon Life iGuarantee Insurance Plan:

This policy gives guaranteed returns on your investment, and you will get money back for 6 years from the time your policy ends. You will get back 135% of the annualised premium as returns after the policy matures. You can even buy this policy online.

• Entry age: 12 to 50 years
• Age at policy maturity: 56 years
• Policy tenure: 6 years
• Premium payment: For the whole of policy term
• Minimum premium amount: Rs.48,000 per year if you are less than 40 years old, and Rs.60,000 if you are 40 years or older
• Minimum sum assured: 10 times the annualised premium
• Premium payment frequency: Monthly and yearly
• Riders available: Aegon Life Premium Shield Rider

Aegon Life Jeevan Shanti Insurance Plan:

This is a very affordable plan that allows you to keep aside a certain amount every month and get a lump sum at maturity or as death benefits.

• Entry age: 8 to 50 years
• Age at policy maturity: Not available
• Policy tenure: 10 years, 15 years, 20 years
• Premium payment: As long as the policy is active
• Minimum premium amount: Rs.750 for 10-year policy, Rs.600 for 15-year policy and Rs.500 for 20-year policy
• Minimum sum assured: Depends on your age, premium payment term and the annualised premium amount
• Premium payment frequency: Yearly, half-yearly or monthly
• Riders available: Aegon Life Accidental Death, Dismemberment and Disability Rider

Aegon Life Guaranteed Growth Insurance Plan:

This is a non-participating non-linked plan that gives 150% of annualised premium as maturity benefits. In case of death of the policyholder, the payout would be made to nominees every year as per the amount guaranteed at the time of policy purchase. Your nominees will not have to pay any premium on the policy if you die before the premium payment term is over.

• Entry age: 8 to 50 years
• Age at policy maturity: 60 years
• Policy tenure: 10 years
• Premium payment: 8 years
• Minimum premium amount: Rs.20,000 if you are 8 to 35 years old, Rs.30,000 if you are 36 to 45 years old, and Rs.40,000 if you are between 46 to 50 years old.
• Minimum sum assured: 10 times the annualised premium
• Premium payment frequency: Once a year or once a month
• Riders available: None.

Why you need an Aegon Life Savings and Investment Plan?

Aegon Life savings and investment plans are an ideal choice for you for the following reasons:

• Tax benefits: Aegon Life savings and investment plans offer tax benefits under Income Tax Act’s Section 80C for premium payments and under Section 10(10D) for maturity or death benefits. This means that your hard-earned money can be saved up for your family’s needs alone.
• Product options: Aegon Life has five different savings and investment plans for you to choose from. Each product and features – premium amount, sum assured, premium payment frequency, premium payment mode, etc. – can be customised as per your financial goals.
• Easy application process: The process of buying a saving policy from Aegon Life is very simple. You can get in touch with an insurance agent, walk into your nearest Aegon Life office, or apply for a policy online. There are no medical tests required for most of the investment policies.
• Claim settlement ratio: Aegon Life has a claim settlement ratio of 95% as of FY 2015-16. This means that 95% of the claims made on policies have been approved and disbursed by the company. The higher the claim settlement ratio of a company, the more likely you are to get a favourable response from them when you make your claims.