| Death Benefit |
In case of unfortunate demise of the Life Assured during the Policy Term, provided all due Premiums have been paid, the nominee will receive the following:
- Sum Assured on Death, plus
- Accrued Reversionary Bonus, plus
- • Accrued Reversionary Bonus (if any), plus
- Terminal Bonus, if any.
The total death benefit payable will be subject to a minimum of 105% of the premiums paid till death.
The Sum Assured on Death will be calculated as:
- For Limited Pay policies: Higher of (10 times the Annualized Premium or Sum Assured)
- For Single Pay option:
- For Age at entry less than 45 years: Higher of (1.25 times the Single Premium or Sum Assured), and
- For Age at entry of greater than or equal to 45 years: Higher of (1.10 times the Single Premium or Sum Assured).
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| Maturity Benefit |
On Survival till the end of the Policy Term and provided all due Premiums have been paid, the following amounts will be paid:
- Sum Assured, plus
- Accrued Guaranteed Additions, plus
- Accrued Reversionary Bonus (if any),
- Terminal Bonus, if any
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| Additional Benefits (Rider) |
Aegon Life Premium Shield Rider : This rider provides waiver of premium on Death or Disability due to either Accident or Sickness.
- For Policies where Proposer and Life Assured are different individuals, this rider waives off all future premiums under the base plan in case of either Death or Disability of the Proposer.
- For Policies where Proposer and Life Assured are the same individual, this rider waives off all future premiums under the base plan in case of Disability of the Life Assured.
- The following disabilities are covered under this rider:
- Loss of or loss of use of both Limbs
- Loss of eyesight in both eyes
- Loss of speech
- Loss of hearing in both ears
- Loss of or loss of use one limb
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| Policy Loan Benefit |
Loan can be availed under this Policy once the Policy has acquired a surrender value. The minimum amount of loan is Rs.5,000 and maximum amount will not be more than 60% of the Surrender Value.
The policy loan interest rate will always be equal to yield to maturity on 10 years G-Sec + 200bps and will be reset at the beginning of each Financial Year. Any change in this basis will be subject to prior approval from IRDAI. The rate at which Policy Loans are currently offered by the Company is 9.74% per annum (July 2019).
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| Surrender Benefit |
In case the insured decides to surrender your Policy, the Policy will acquire guaranteed Surrender Value:
- After payment of first three year’s Policy Premiums in full, in case the insured has opted for Premium Payment Term of 10 years and above;
- After payment of first two year’s Policy Premiums in full, in case the insured has opted for Premium Payment Term less than 10 years;
- Immediately, in case the insured has opted for Single Pay option
Please refer the Policy Contract for the details on Guaranteed Surrender Value factors.
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| Free Look Period |
15 days (30 days in case of Distance Marketing) |
| Grace Period |
15 days |
