Aegon Insurance Company is one of the world’s leading financial service organizations that provides life insurance, pension, and asset management. Presently, Aegon is doing business in America, Europe, and Asia. The company has been successfully providing services to its customers and has made a stable position in the insurance market.
Here we are going to do a detailed study on the investment plans being offered by the Aegon Life Insurance Company. Presently, Aegon Life Insurance Company has three investment plans for the people:
Here is a tabular representation of the three saving & investment plans offered by the Aegon Life Insurance company. The data and facts are updated as per 2019-2020.
|Aegon Life Investment Plans||Entry Age||Policy Term||Annual Premium||Premium Payment term||Maturity Age|
|POS-GRIP||1-year last birthday||50 years last birthday||10 - 20 Years||Rs.10,000||5/7/9 Years||18 years||65 years|
|Jeevan Riddhi Insurance Plan||18 Years last birthday||55 Years last birthday||For limited pay policies: 10 Years to 20 Years |
For Single Pay Policies: 10 Years
|Rs.60,000/- for the policy term 10 to 11 Years |
Rs.17,000/- for the policy term 12 to 16 years
Rs.15,000/- for the policy term 17 years to 20 years
|Single pay/ (Policy term - 5) Years||Not specified.||70 Years last birthday|
|Regular Money Back Insurance Plan||7 Days||55 Years last birthday - for 7 pay and 10 pay options. |
60 Years last birthday for a single pay option.
|20 Years||Rs.12,000/- for premium payment term 7 years/ 10 Years |
Rs.1,00,000/- for the single pay premium payment term
|Single pay/ 7 years/ 10 years||Not mentioned.||75 years for 7 pay & 10 pay options. |
80 Years for single pay option
The extraordinary features of the Aegon Life Investment plans have been mentioned here:
The insured can avail loan facility under:
The loan facility can be availed only after the policy has acquired the surrender value.
A grace period of 30 days is provided to the insured under the plan. In case the policyholder misses out the premium payment date, s/he can pay the premium within the grace period, failing which the policy is subject to lapse.
Free Look Period:
A free look period of 15 days is provided to the insured. During the free look period, the policy buyer can cancel the policy on valid grounds of dissatisfaction with the policy.
There is the availability of rider under the plan which provides extra cover in case of death or disability during an accident.
The policyholder gets a loyalty booster which is an add-on to the benefits. It is provided during the policy term. Different plans have different terms and conditions related to loyalty booster.
Here is a list of the benefits provided by the plans. These benefits will help you make decisions with respect to purchasing a plan:
Along with life cover, Aegon Life Investment plans offer the choice to opt for Aegon Life Premium Shield Rider. Riders provide add-on cover to the policyholders and the one and only rider available under the investment plans have been explained here:
As per the policy documents, in case the death happens within 12 months from the date of inception/revival of the policy, the claimant shall be entitled to 80% of the total premiums paid. The higher amount among the total premium paid till date and surrender value as available on the date of death is considered. According to the terms and conditions, the policy should be in force.
There is a 90 days waiting period under the POS-GRIP Plan.
You do not need to panic in case you have forgotten/missed to pay the premium. It can be paid within 30 days of the grace period.
Yes, the loan facility can’t be availed until and unless the surrender value is acquired.
Yes, the plan provides coverage to accidental and disability cases.
The premium payment modes under the Aegon Life Regular Money-Back plan are annual, half-yearly and monthly.
Last updated on 19-08-2020