Friday, December 13, 2013
AEGON Religare Launches India’s First
Online Guaranteed Insurance Plan - iGuarantee
A life insurance plan that offers guaranteed annual returns of 135%
New Delhi, December 13: The pioneers in online insurance, AEGON Religare Life Insurance (ARLI) today announced the launch of India’s first online guaranteed insurance plan - AEGON Religare iGuarantee Insurance Plan. The plan is available exclusively online and is specially targeted at individuals looking for simple and guaranteed insurance solutions. This plan is aimed at customers who are looking at a steady return over the medium term while minimising risk.
In keeping with AEGON Religare's product philosophy of offering simple products with a simple and easy to understand benefit, the AEGON Religare iGuarantee Insurance Plan offers the customer a six-year premium paying term and policy term. At the end of the policy term, the customer gets an annual return equal to 135% of the premium, paid for a period of six years. The product is available exclusively online, at http://buyonline.aegonreligare.com, making it convenient and easy for the customer to buy the policy, transact and receive the policy document instantly, online.
On the launch of AEGON Religare iGuarantee Insurance Plan, Mr Yateesh Srivastava, Chief Operating Officer of ARLI said, “We pioneered the online space in life insurance and we would like to maintain our leadership position by offering an expanded suite of products. The iGuarantee plan is part of our endeavour to provide simple and uncomplicated products to our customers at their convenience. The AEGON Religare iGuarantee Insurance Plan comes with a simplified 3-question proposal form, requires no medical examination and can be issued very quickly. It carries with it the benefit of providing a guaranteed return to customers for a period of six years, after the policy term. It is an ideal plan for a medium-term investor who needs the security of growth, without undue risk. It is a short premium paying term plan that allows customers to enhance their savings.”
Mr Harshal Shah, Director - Marketing, ARLI added, “The growth of an internet consuming population, eCommerce and the success of our first product offerings on our direct-to-customer platform has proven that online space has emerged as a significant channel of distribution in life insurance. The AEGON Religare iGuarantee Insurance Plan is targeted to the ‘New Age’ customer who prefers a convenient, hassle-free and a non-intermediated process while buying any financial product. The consumer is moving online and so are we. The AEGON Religare iGuarantee Insurance Plan is another step in creating a plethora of online product offerings for our customers.”
The AEGON Religare iGuarantee Insurance Plan offers the following benefits:
- It offers the maturity benefit in the form of a yearly guaranteed payout, which is 135% of the annual premium, for a period of six years starting after the policy term.
- In case of death of the life assured during the policy term of six years, the nominee receives higher of ten times of the annual premium or 105% of all the premiums paid. However, if death occurs during the pay-out period the remaining guaranteed pay-outs are paid to the nominee.
- The policy does not lapse if the premium is paid for at least a year as it continues with the paid-up sum assured.
- It offers tax benefits under section 80C and 10(10D)
The AEGON Religare iGuarantee Insurance Plan offers a policy term and a premium payment term of six years. The minimum age to enter is 12 years, whereas the maximum is 50 years. The maximum age at maturity is 56 years. The minimum annual premium for less than 40 years of age is Rs. 48,000 and for the age more than 40 years is Rs. 60,000. The maximum annual premium is Rs. 2,50,000. The sum assured is ten times the annual premium. The premium can either be paid monthly or annually. For purchasing the plan, one needs to simply decide on the premium amount to be paid every year.
About AEGON Religare Life Insurance Company
AEGON, an international provider of life insurance, pension and asset management, Religare, India’s leading diversified financial services groups and Bennett, Coleman & Company, India’s largest media conglomerate, have come together to launch AEGON Religare Life Insurance Company Limited (ARLI). This venture is dedicated to build a customer-centric business and provide a work environment that fosters excellence and innovation. This joint venture adopts a local approach with the power of global expertise. ARLI launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better. The fulfillment of this vision is based upon having a complete product suite, providing customised advice and enhancing the overall customer experience. ARLI has launched a suite of products that are focused on providing the customer with the means to meeting their long-term financial goals. At the same time, product development has been founded on the tenet of providing the customer with great value. ARLI products such as iTerm, iMaximize, Future Protect and Rising Star have been ranked among the best in terms of value and have attracted many external accolades. The Indian Insurance Awards, 2013, honoured AEGON Religare Life Insurance (ARLI) as the ‘E-Business Leader’ under the category of Overall Insurance Industry Awards.
As an international provider of life insurance, pension and asset management, AEGON has businesses in over twenty markets around the world. With headquarters in The Hague, the Netherlands, AEGON companies employ approximately 24,000 people serving millions of customers across the globe. In total, the company oversees EUR 466 billion in revenue-generating investments. AEGON’s main operations are in the United States, the Netherlands and the United Kingdom, but in recent years the company has expanded into new growth markets in Asia, Central & Eastern Europe and Latin America. AEGON is one of the largest insurance companies in the United States, and ranks first in the Dutch group pensions market and has strong market positions in individual and group pensions in the UK. The company’s shares are listed on two major stock markets: Amsterdam and New York. AEGON has more than 160 years of experience with its roots going back to 1844. http://www.aegon.com
About Religare Enterprises Limited
Religare Enterprises Limited (REL) is one of India’s leading diversified financial services groups and offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management. Religare Enterprises is headquartered in New Delhi and is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India. Religare is also building an Asia & emerging markets focused Institutional equities and Investment Banking business and a multi-boutique global asset management platform to tap the broader opportunities offered by the most promising emerging markets around the world. http://www.religare.com