In today’s ever-changing world, it makes a lot of sense to put insurance and investment together. At Aegon Life, we understand this need and have designed AEGON LIFE POS GUARANTEED RETURN INSURANCE PLAN – a non-linked, non-participating life insurance plan which offers guaranteed returns in the form of a lump sum payout on maturity (not regular income over a fixed period) along with life cover for the entire policy term.
This is a great product to avoid the hassles and stress of investing in a volatile world.
Why you need this plan
100% Guaranteed Lump sum payout on maturity.
Life cover to secure your family’s financial future.
Returns are not linked to market performance or interest rates.
6 Super Reasons to Choose
Aegon Life Guaranteed Returns Insurance Plan
- Simple Savings Plan
Save a regular amount for a specific period (5, 7 or 9 years) and get a guaranteed lump sum payout. There are no hidden charges and you know exactly what you will get back on completion of the policy term.
- 100% Guaranteed Returns
The benefit payout from this plan are 100% guaranteed on maturity or in case of death of the person insured.
- 100% Guaranteed Maturity Benefit
The payout from the plan will be 225% to 325% of the basic sum assured and is displayed to you before you buy.
- Guaranteed Additions
We will add 10% of the basic sum assured to your investment, at the end of every year, throughout the policy term.
- Loyalty Boosters
You get Loyalty Boosters which is equal to 25% of Basic Sum Assured at maturity of the plan.
- Tax Benefits*
You are eligible for tax benefits on premium paid as per Income Tax Act 1961. The benefit payouts from this plan are totally tax-free.
Our Service Promise
- Quick Issuance
Your policy will be issued within 48 hours of submission of the documents.
- Free Look Period
You get a 30-day period to review the policy. If not satisfied, send it back to get your money back.
- Simple Claim Settlement
Trust us for an easy claim process. Our claim settlement ratio for FY2020-21 is 99.25%**
Interest rates are continuously dropping
In today’s day and age, maintaining financial stability has become quite difficult for most of the individuals.
Repo Rate (Source: RBI Website)
Get the Guaranteed Edge with Aegon Life Guaranteed Returns Insurance Plan
Why take tension? With our plan you get guaranteed returns. No need to worry about falling interest rates or market fluctuations. Start investing at just `2,500 per month and watch your money grow.
|You Pay Monthly||Total Premium Paid||You Get|
|₹ 2,500||₹ 1,50,000||₹ 2,11,965|
|₹ 5,000||₹ 3,00,000||₹ 4,30,517|
|₹ 7,000||₹ 4,20,000||₹ 6,07,382|
|You Pay Monthly||Total Premium Paid||You Get|
|₹ 2,500||₹ 2,10,000||₹ 2,85,363|
|₹ 5,000||₹ 4,20,000||₹ 5,78,595|
|₹ 7,000||₹ 5,88,000||₹ 8,15,597|
|You Pay Monthly||Total Premium Paid||You Get|
|₹ 2,500||₹ 2,70,000||₹ 3,52,503|
|₹ 5,000||₹ 5,40,000||₹ 7,13,551|
|₹ 7,000||₹ 7,56,000||₹ 10,05,008|
What are Guaranteed Returns Insurance Plans?
Guaranteed Returns Insurance plans provide the policy holder with dual benefits:
- 1. Guaranteed lump sum payout on maturity
- 2. Life cover for the entire policy term, so family gets the benefit payout in case of death of the insured
Guaranteed Returns Plan are best suited for investors as it provides Growth of money, Protection for family, No tension of market performance or dropping interest rates and Tax benefits*
3E’s of GuarantEEEd Plans
Visit our website, enter your details and see the Guaranteed Benefit Amount. There are no strings attached.
Zero paperwork and all done online, anytime. The entire process is completed in few minutes.
Buying online is more cost effective than offline purchase. Your age is one of the defining factors for premium calculation. So start early!
3 steps to buy online
Choose how much you want to save
Use our free calculator to get an accurate premium quotation.
Choose Your Add-On’s
Choose the policy term and payment frequency in few clicks. You also get the power to get enhanced protection by attaching any of our insurance plans.
Fill application and buy online
Once you get the quote, you can start the application. We have simplified the form filling process to make it quick and easy.
Minimum:₹10,000 for yearly mode; ₹7,500 for half-yearly; ₹1,500 for monthly mode.
Maximum:₹100,000 for yearly mode; ₹51,200 for half-yearly mode; ₹8,700 for monthly mode. (The maximum annualised premium per life insured will be capped to ₹100,000 for this product.)
What is the entry age?
Minimum entry age 1 year to maximum entry age of 50 years.
What is maturity age?
Minimum 18 years last birthday and maximum 65 years last birthday.
What is the minimum – maximum premium paying term in this plan?
You can select one of the following premium paying terms starting from 5 years, 7 years, and 9 years.
What is the minimum – maximum policy term in this policy?
You can select any policy term starting from minimum 10 years to maximum 20 years.
What are premium payment frequencies available in this policy?
You can select from the following flexible premium payment frequencies
- a) Monthly
- b) Half Yearly
- c) Annually.
What is the Maturity benefit payable in this policy?
At maturity of your policy you will be entitled to receive the following benefits
- a) 100% Base Sum Assured +
- b) Guaranteed addition of 10% of Base Sum Assured that is accrued at the end of every policy year during the policy term is payable at maturity/surrender/Death of Life assured, whichever is earlier)+
- c) Loyalty booster of 25% of Base Sum Assured (One-off lumsump amount payable at Maturity/Surrender, whichever is earlier)
What is the Death benefit payable in this policy?
Sum Assured on Death + Accrued Guaranteed Additions
Sum Assured on Death is highest of:
- a) (Basic Sum Assured + Loyalty Booster), or
- b) 10 times the Annualized Premium or
- c) 105% of total premiums received up to the date of death
Can the Life Assured avail any tax benefit under this policy?
The premiums paid and benefits received are eligible for tax benefits under Section 80C and 10(10D) of the Income tax Act, 1961 respectively upon fulfillment of conditions laid down for availing such benefits.
Tax laws are subject to amendments from time to time.
Does the Life Assured need to undergo any medical tests while buying this policy?
There are no medical tests required.
Is there a waiting period?
There is a Waiting Period of 90 days from the Date of Inception of the Policy. In case of death (other than due to Accident) during this Waiting Period, we will pay to the Claimant an amount equal to the Policy Premiums paid till the date of death (excluding Taxes) as the Death Benefit. Outstanding Installment Policy premium will not be deducted from this amount. Waiting Period is not applicable in case of policy revival
What if I missed my premium due Date (Grace Period)?
Grace Period is a period of 15 days for Policies under monthly premium payment mode and 30 days for all other modes from the due date for payment of Policy Premium.
Can I be a proposer for a minor?
Yes, I can be a proposer for a minor.
Is there automatic vesting of a policy?
If the policy has been taken on the life of a minor, the policy shall automatically vest on him/her with effect from the date of completion of 18 years of age and the Life Assured will become the Policyholder from such date.
What is the minimum and maximum premium that I can invest on a monthly mode?
I can invest a minimum of Rs 1,500 maximum premium of up to Rs 8,700 on a monthly mode.
What is maximum annualized premium that I can invest?
The maximum annualized premium per life will be capped to Rs 1,00,000 for this policy.
What happens if I stop paying the due premiums?
- a) On non-payment of premium within grace period, before payment of first 2 Policy year’s premiums in full, the Policy will lapse and all the benefits including life insurance cover will terminate.
- b) On non-payment of premium any time after payment of first 2 Policy year’s premiums in full, the Policy will not lapse but will continue as a Paid-up policy
Does this policy acquire a surrender value?
Yes, the Policy will acquire Guaranteed Surrender Value after premiums have been paid for at least 2 full years.
For more details on Risk factors, Terms & Conditions please read Sales Brochure and Beneﬁt Illustration carefully before concluding a sale. If death occurs due to Suicide within 12 months from the Date of Inception of the Policy, the Death Beneﬁt is refund of 80% of the Premium(s) paid (excluding taxes) provided the Policy is in-force. This clause will remain applicable even during the Waiting Period of 90 days from the Date of Inception of the Policy. If death occurs due to Suicide within 12 months from the Date of Revival of the Policy, the Death Beneﬁt is higher of 80% of the premiums paid (excluding taxes) till the Date of Death or the Surrender Value available as on the Date of Death. This Product is underwritten by Aegon Life Insurance Company Ltd. Insurance cover is available under this Product. All ages mentioned above are ‘Age as on last birthday’. It is recommended that you obtain professional advice for applicability of Income Tax beneﬁt on premiums paid and beneﬁts received. Income Tax to be deducted, if any, will be deducted at the applicable rate from the payments made under the policy. Goods & Services Tax, Cess (if any) and any other Statutory levy will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time. Aegon Life POS Guaranteed Return Insurance Plan (GRIP) UIN 138N076V02