Home » Aegon » Aegon Money Back Plan
Aegon Life Insurance plans

Aegon Regular Money Back Insurance Plan

Aegon Life’s Regular Money Back Insurance Plan is a non-linked, participating plan which provides the insured guaranteed payouts for 10 years and a lifecover beyond the Premium Payment Term. One should purchase this plan if they are looking at a lump sum amount in case something were to happen to the primary insured at any given point in time.
Request a Call Back
Name is required
Email is required
Contact is required
Thank you for contacting us
  • Benefits
  • Suitability
  • Eligibility
  • Benefit Description

Benefits of this Plan

  • Life cover for the insured family’s financial security
  • Guaranteed Payouts for 10 years.
  • Increase in benefit amount every year on account of bonusaccrual
  • Choice of Premium Payment Terms to match financial abilities of the insured
  • Loan available for meeting unplanned financial requirements
  • Option of additional benefit upon Disability
  • Tax benefits as per prevailing tax laws

Suitability of Regular Money Back Plan for Insured’s Needs

Your Need How does Regular Money Back Insurance Plan fulfil your need
Financial security to family in your absence
  • Life cover for the entire Policy Term
  • Increase in death benefit amount every year by Bonus accrual
Regular income for future financial goals
  • Guaranteed Money BackPayouts for 10 years.
  • Accrued Bonus and Terminal bonus (if any) paid at policy maturity
Flexible Premium payment options Choice of Premium Payment Term: Single Pay / 7 years / 10 years
Choice of Premium Payment Frequency: Pay premiums annually, half yearly or monthly
Liquidity Loan available once the policy has acquired a surrender value.
Additional benefit upon Disability Choice of Aegon Life Premium Shield Rider
Tax benefits The premiums paid and benefits received are eligible for tax benefits under Section 80(C ) and Section 10(10)D, upon fulfilment of the conditions laid down for availing such benefits.
Eligibility Criteria
Entry Age Minimum – 7 days
Maximum
  • 55 years last birthday for 7 Pay and 10 Pay options.
  • 60 years last birthday for Single Pay option.
Maturity Age Maximum
  • 75 years last birthday for 7 Pay and 10 Pay options
  • 80 years last birthday for Single Pay option
Policy Term 20 years
Premium Payment Term Single Pay / 7 years / 10 years
Minimum Premium Premium Payment Term Minimum Annualized Premium
7 years / 10 years ₹12,000 p.a
Single Pay ₹1,00,000
Maximum Premium No limit, subject to underwriting
Premium Payment Mode Annual, Half Yearly and Monthly
Sum Assured Will depend on the age of the Life Assured, Premium Payment Term opted and the Premium amount.

Benefit Description

Death Benefit In case of death 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
  • 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 Premium Payment Term of 7 years / 10 years:
    • 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).
Guaranteed Money Back Options The insured will receive Guaranteed Money Back Payouts upon survival at the end of every year from the 10th to the 19th Policy Year. This benefit will be payable if all due Policy Premiums are paid and the Policy is in-force.
The benefit will be paid @15% per year for 10 years amounting to a total payout of 150%.
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:
  • Accrued Reversionary Bonus, plus
  • Terminal Bonus, if any
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
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).
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.
Free Look Period 15 days (30 days in case of Distance Marketing)
Grace Period 15 days
-

ONLINE CHAT

  • Address
  • InstantCover Insurance Web Aggregator Private limited
    710, 6th B Cross, 16th Main Road, Koramangala 3rd Block,
    Bangalore - 560 034.
Payment cards