Tuesday, January 6, 2015
Aegon Religare Life unveils two online plans
Mumbai, January 6:
Aegon Religare Life Insurance on Tuesday announced the launch of two plans — unit linked insurance plan and return of premium term plan — exclusively on the online platform.
AEGON Religare iMaximize Insurance Plan is a unit-linked protection plan that is available as a single premium payment plan and a regular premium payment plan.
The plan offers zero premium allocation charge. Charges that apply are mortality charges, fund management charges and policy administration charges.
AEGON Religare iReturn Insurance Plan is a return-of-premium term plan which offers a life cover that pays a lump sum on death and at the end of the policy term on survival, the premiums paid are returned.
Yateesh Srivastava, Chief Operating Officer of Aegon Religare explained that the iMaximize Insurance Plan comes with a ‘triple-benefit’ option which pays out a lumpsum in the case of death of the policy holder, an annual income benefit for the life of the policy and also pays all remaining premiums in order to ensure that corpus creation is not compromised.
Srivatsava said the company has also launched a 72-hour issuance promise for issuing an insurance policy within three days after completion of documentation.
They also have a claims guarantee for i-Term customers where there is a guarantee for claims payment when they are insured with the company for two years.
The company gets around 20 per cent of its total business from the online platform.
(This article was published on January 6, 2015)