AEGON Religare Life Insurance Launches Save Guard Insurance Plan

Tuesday, November 6, 2012

Mumbai, November 6: AEGON Religare Life Insurance (ARLI) today announced the launch of a term plan called the AEGON Religare Save Guard Insurance Plan. This plan provides life cover for the term of the policy and at the end of the policy term, pays back 100% of all premiums paid. The AEGON Religare Save Guard Insurance Plan comes with the option of an in-built accidental death benefit where, in case of a death in an accident, an additional benefit equivalent to the sum assured is paid to the nominee. 

On the launch of AEGON Religare Save Guard Insurance Plan, Mr Yateesh Srivastava, Chief Marketing Officer & Head – Talent, AEGON Religare Life Insurance said, “Since inception AEGON Religare has laid stress on protection products and has worked towards providing simple protection products aimed at various segments. Our research showed that there are customers who are wary of buying a product where there is only a death benefit. Hence, we have launched this plan that gives back 100% of the premium paid at the end of the policy term. In many international markets there are customers who consider such plans as ‘forced savings’ while having the added benefit of life protection. Since we believe that a term plan is a must-have in the financial portfolio of every individual with financial liabilities and responsibilities, we are working towards removing all hurdles to the purchase of term plans. The AEGON Religare Save Guard Insurance Plan is just another step in offering a comprehensive suite of protection products.”

Customers should consider buying the AEGON Religare Save Guard Insurance Plan for the following reasons:

1. It provides a choice of two death benefit options:

a. Option 1 has an in-built accidental death cover, equal to that of the sum assured. It pays the additional benefit in addition to the sum assured in case of death due to an accident.

b. Option 2 simply offers the sum assured on death of the insured.

2. On maturity, it repays the total of all premiums paid.

3. It gives an option to add AEGON Religare Critical Illness rider that covers nine illnesses.

4. It provides tax benefits as per applicable tax laws.

The minimum age of entry is 18 years and the maximum is 55 years. The maximum age at maturity is 65, 70 or 75 years for a policy term of 10, 15 or 20 years respectively. The minimum sum assured is 2 lakh with minimum annual premium of ` 2,860. The policy term options are 10, 15 or 20 years. The premium payment term is equal to the policy term.

The steps to buy the plan are simple. One needs to choose the level of protection (sum assured) and 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.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.

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. In total, the company oversees EUR 452 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.in

 

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