Wednesday, February 27, 2013
Mumbai, February 27: AEGON Religare Life Insurance (ARLI) today announced the launch of its AEGON Religare Assured Returns Insurance Plan. This plan is meant for customers who are looking at safe and secured returns with very little risk. The plan is very simple in its construct and offers the customer guaranteed payouts that start after the premium paying term is over. The payout are paid out annually for a period equivalent to the premium paying term. The plan comes with two premium paying terms of seven years and ten years.
On the launch of AEGON Religare Assured Returns Insurance Plan, Mr. Yateesh Srivastava, Chief Marketing Officer & Head – Talent of AEGON Religare said, “This plan is part of endeavor to provide simple easy to understand and uncomplicated products to our customers. The AEGON Religare Assured Returns Plan comes with a simplified proposal form and 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 equivalent to the premium paying term, once all premiums have been paid. It comes with two premium payment terms of seven years and ten years. It is an ideal product for those customers who are looking for steady guaranteed returns over a period of time.”
The AEGON Religare Assured Returns Insurance Plan offers the following benefits:
1. It offers maturity benefit in the form of a guaranteed percentage of the annual premium. After the end of the policy term of seven years or ten years, at the end of each year, it offers 150% or 175% of the annual premium, for the number of years equal to the policy term.
2. In case of death of the life assured during the policy term, the future premiums are waived-off and the nominee receives the guaranteed payout, as scheduled, during the payout period. It also offers an option to the nominee to take the present value of the future payout at any point in time, during the policy term.
3. The policy does not lapse if the premium is paid for a period of two years as it continues with the paid-up sum assured.
4. It offers tax benefits.
The AEGON Religare Assured Returns Insurance Plan offers a choice between two policy terms of seven and ten years, with a premium payment term equal to the policy term. The minimum age to enter is 25 years, whereas the maximum is 53 or 50 years, depending on the tenure of the policy. The maximum age at maturity is 60 years. The minimum annual premium for those less than 45 years is ` 25,000 with a maximum of ` 2,50,000 p.a. For those above 45 years of age, the minimum premium is ` 40,000, with a maximum of ` 2,50,000 p.a. For purchasing the plan, one needs to choose between a policy term of seven and ten years and then decide on the annual premium amount.
About AEGON Religare Life Insurance Company
AEGON, an international life insurance, pension and investment company, Religare, a global financial services group and Bennett, Coleman & Company, India’s largest media house, 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 will adopt 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.
As an international provider of life insurance, pension and asset management, AEGON has businesses in over twenty markets in the Americas, Europe and Asia. With headquarters in The Hague, the Netherlands, AEGON companies employ over 25,000 people and serve more than 47 million customers across the globe. In total, the company oversees EUR 463 billion in revenue-generating investments. As a part of its strategy, AEGON is investing in new and upcoming markets like India, China and Brazil. AEGON is one of the largest insurance companies in the United States, and ranks first in the Dutch group pensions market and third in the UK individual pensions markets. 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. AEGON holds 26% equity in ARLI. 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 and 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. REL holds 44% equity in ARLI. http://www.religare.com