AEGON Religare Life Insurance Launches Flexi Money Back Insurance Plan

Monday, March 12, 2012

Mumbai, March 12: AEGON Religare Life Insurance (ARLI) today announced the launch of its AEGON Religare Flexi Money Back Insurance Plan. This plan is meant for customers wary of investing in the volatile markets, looking for a simple insurance plan with guaranteed benefits. This plan offers a life cover that extends beyond the premium payment term; bonus that accrues from the first year onward; and regular income at specified intervals in addition to the maturity benefit.

On the launch of AEGON Religare Flexi Money Back Insurance Plan, Mr. Yateesh Srivastava, Chief Marketing Officer of AEGON Religare said, “This plan is aimed at customers who are seeking the comfort of guarantees in an uncertain investment climate and are looking for fixed paybacks at pre-determined intervals. The customer knows exactly what is receivable at the money back stage as well as at maturity. The plan has been launched based on our research that highlighted certain segments in the market. The product fulfills a very specific customer need for certainty in uncertain times.”

The AEGON Religare Flexi Money Back Insurance Plan offers the following benefits:
1.It provides an extended life cover that goes beyond the premium payment term.
2.It offers an additional cover incase of death due to an accident.
3. It offers bonus, which forms a part of the guaranteed benefits and is paid in case of maturity or death.
4. It offers guaranteed payouts, as a percentage of the sum assured, at regular intervals.
5. It offers 40% of the sum assured as maturity benefit at the end of the policy term.
6. Incase of death, it provides the nominee with sum assured along with the accrued bonus irrespective of the prior payouts.
7. It also offers a high discount on sum assured of ` 500,000 and above.
8. The policy does not lapse if the premium is paid for a period of three years as it continues with the paid-up sum assured.
9. It also offers a loan against the policy with a minimum amount of ` 5,000 and a maximum amount of not more than 60% of the surrender value.
10. It offers tax benefits.

The AEGON Religare Flexi Money Back Insurance Plan offers a choice between three policy terms of 14, 17 and 21 years with a premium payment term of 10, 12 and 15 years respectively. The minimum entry age is 90 days and maximum age of entry is 60, 58 or 54 years, depending on the tenure of the policy. The maximum age at maturity is 75 years and minimum sum assured is ` 1,00,000.

For purchasing the plan, one needs to choose the level of protection (sum assured) and choose the policy term. Depending on these factors, the annualised premium is defined which can be paid annually, semi-annually or monthly.

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.

About Aegon 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. AEGON had more than EUR 420 billion in revenue-generating investments around the world at the end of 2011. As a part of its strategy, AEGON is investing in new and upcoming markets like India, China and Brazil. The company’s common shares are listed on two stock exchanges: 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.

Religare Enterprises Limited (REL) is one of the leading integrated financial services groups of India. REL's businesses are broadly clubbed across three key verticals, the Retail, Institutional and Wealth spectrums, catering to a diverse and wide base of clients. REL offers a multitude of investment options and a diverse bouquet of financial services with its pan India reach in more than 1550 locations across over 460 cities and towns. REL also currently operates from 10 countries globally following its acquisition of London's oldest brokerage & investment firm, Hichens, Harrison & Co plc.


Retrieve A Quote