India Infoline covers the launch of iMax and iReturn products

Tuesday, January 6, 2015

AEGON Religare Life Insurance expands online portfolio

India Infoline News Service | Mumbai | January 06, 2015 14:38 IST

The company introduces two new online plans – AEGON Religare iMaximize Insurance Plan and AEGON Religare iReturn Insurance Plan.

AEGON Religare Life Insurance (ARLI), announced the launch of two plans for its online platform – AEGON Religare iMaximize Insurance Plan - a unit-linked protection plan that is available as a single premium payment plan as well as a regular premium payment plan and AEGON Religare iReturn Insurance Plan - a return-of-premium term plan. Both the plans are available exclusively online and can be bought within 10-12 minutes by visiting http://buyonline.aegonreligare.com.
 
Speaking on the occasion of the launch of the two plans, Yateesh Srivastava, Chief Operating Officer of ARLI stated - “The online space continues to grow for the insurance sector with more and more customers turning to the Internet for either information or actual purchase. As pioneers in the online space the time is just right to expand our product portfolio with two new plans targeted at the ‘New Age’ consumer. The AEGON Religare iMaximize Insurance Plan is a Unit Linked Plan (ULIP) which has a 0% Premium Allocation Charge. The plan comes with a ‘triple-benefit’ option which pays out a lump sum 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. This makes it an ideal savings instruments for parents saving for their child’s future. Our other plan, AEGON Religare iReturn Ins urance Plan is a return of premium term plan with an in-built terminal illness benefit and offers competitive premium rates. The plan offers term protection with a survival benefit, which is a return of 100% of the premium. For AEGON Religare introducing the two new online plans is a step towards creating a broader set of online offerings.”
 
The AEGON Religare iMaximize Insurance Plan is specially targeted at parents who are looking at safeguarding their child’s future. Some key benefits of this plan are:

  • It offers zero premium allocation charge. It thus invests 100% of the premium. Charges that apply are mortality charges, fund management charges and policy administration charges.
  • It offers a choice of policy term and premium payment term of single, limited or regular.
  • It offers three investment fund options, namely, Blue Chip Equity Fund, Secure Fund and Debt Fund.
  • It offers liquidity by way of partially withdrawing from the fund value after 5 policy years.
  • The premiums paid and benefits received are eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.

 
The AEGON Religare iReturn Insurance Plan is specially targeted at individuals who are looking for a term plan with a return of premium. Some of the key features of this plan are:

  • It 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.
  • It offers an in-built Terminal Illness Benefit that pays 25% of the base policy sum assured in case the life assured is diagnosed with a terminal illness. Moreover, it also waives off the future premium.
  • It offers additional protection by offering multiple riders like AEGON Religare AD (Accidental Death) Rider, AEGON Religare Critical Illness Rider, AEGON Religare Waiver Of Premium Rider and AEGON Religare Woman Critical Illness Rider.
  • The premiums paid and benefits received are eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961. 
Year: 
2015

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