AEGON Religare Life Insurance launches an online protection plan on a unit-linked platform targeted at HNIs

Thursday, August 2, 2012

Delhi, August 2: AEGON Religare Life Insurance today announced the launch of an online protection plan on a unit-linked platform called the AEGON Religare iMaximize Plan. This plan is available exclusively online and is specially targeted at high net-worth individuals (HNI) who are looking at protection of both, life as well as their goals and aspirations. The AEGON Religare iMaximize Plan can be bought online within 10-12 minutes by visiting

Speaking on the occasion of the launch of AEGON Religare iMaximize Plan, Mr Yateesh Srivastava, Chief Marketing Officer of AEGON Religare stated - “The growth of an internet consuming population, eCommerce and the success of our first product offering on the eSales platform - AEGON Religare iTerm Plan, makes us confident that the online space will emerge as a significant channel of distribution in life insurance. The AEGON Religare iMaximize Plan is targeted to the ‘New Age’ customer who prefers a convenient, hassle-free and a non-intermediated process while buying any financial product. This comprehensive plan offers protection for life as well as protection for his dreams and goals. This is achieved through a ‘triple-benefit option’ which in case of death pays the sum assured, pays an annual income benefit to the nominee for the remainder of the term and keeps the policy alive for the intended term so the corpus expectations are met at maturity. With its transparent charge structure and substantial returns, it’s ideally suited for HNI customers. It is our intention to be where our customers are and where they are going to be in the future. The AEGON Religare iMaximize Plan is a step in creating a broader set of offerings online.”

The AEGON Religare iMaximize Plan offers the following unique benefits:
1.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.
2.It offers an additional cover incase of death due to an accident.

  • Sum Assured is paid to the nominee immediately.
  • Income Benefit – An amount equal to the annual premium is paid to the nominee, every year, till the end of the policy term.
  • Premium Continuance Benefit – All the premiums due are waived-off and paid by AEGON Religare Life Insurance. The policy continues and the nominee receives fund value on maturity.

3.It offers the option of two investment portfolio strategies:

  • a. Self Managed Portfolio Strategy, wherein one can choose to invest in Secure Fund (Conservative), Stable Fund (Moderate) and Accelerator Fund (Aggressive).
  • b. Trigger Portfolio Strategy, wherein all of the investment is allocated to Accelerator Fund and whenever the fund value exceeds 110% of all premiums paid, the excess amount is shifted to Secure Fund to protect the profits.

4. It offers a minimum sum assured of 10 times the annual premium and maximum of 30 times the annual premium.
5. It offers special units from the 12th year.
6. It offers applicable tax benefits.

FThe minimum entry age is 7 years and maximum age at maturity is 75 years with a choice of three policy term options – 15 years, 20 years and 25 years. The premium paying term is equal to the policy term.

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.

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