Aegon iTerm Plus Insurance plans

Aegon iMaximise Insurance Plan

iMaximize is a Unit Linked Insurance Plan (ULIP) from Aegon Life which offers a combination of protection and market linked returns. The plan has been designed to offer a considerable degree of flexibility, making it well suited to the first time investor and market expert alike. This plan can also cater to a child’s financial needs in your absence through the Triple Benefit pay-out option, which provides financial relief in stages. No allocation charges means the insured can maximise the return from investment as the full amount gets exposure to the fund of their choice.
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Aegon Life insurance review

Aegon iTerm Plus Insurance plans
Distribution - Number of branches pan India (March 2019)
82
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
25 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
5/62
Solvency Ratio (FY 2018-19) *
2.59
Number of Policies Sold (Ind+Group) *
37,487
Number of Lives Covered (Ind+Group) **
285,524
Claims Settlement Ratio (Ind+Group) ***
96.90%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Aegon iMaximise Insurance overview

  • Features
  • Eligibility
  • Investment Funds
  • Benefit Description

Features of Aegon iMaximise Insurance

  • No premium allocation charge
  • Short pay options of 5 pay or 7 pay
  • The insured can choose from 6 Unit linked funds - Blue Chip Equity Fund, Accelerator Fund, Opportunity Fund, Stable fund, Debt Fund, and Secure Fund as per their investment objectives
  • Choice of two Death Benefit options
    • Benefit Option 1: Higher of Sum Assured or Fund Value
    • Benefit Option 2: Sum Assured + Additional Savings Benefit + Income Benefit
  • Option to boost your Fund Value through Top-Ups

Eligibility criteria of iMaximise Insurance Plan

Parameters Benefit Option 1 Benefit Option 2
Minimum Annualized Premium
  • For Premium Payment Term: 5 / 7 years₹36,000
  • For other Premium Payment Terms: ₹24,000
  • Entry Age < 45 years : ₹24,000
  • Entry Age >= 45 years : ₹36,000
Minimum Entry Age 7 years as on last birthday 18 years as on last birthday
Maximum Entry Age 55 years as on last birthday 50 years as on last birthday
Maximum Maturity Age 70 years as on last birthday 65 years as on last birthday
Premium Payment Terms (years) 5 / 7 / 10 / 15 / equal to Policy Term 10 / 15 / equal to Policy Term
Available Policy Terms 15 / 20 /25 years
Premium Payment Frequency Monthly and Annual
Minimum Sum Assured For entry age below 45 years Higher of the Following
  • 10 times the Annualised Premium
  • 0.5 x Policy Term x Annualised Premium
For entry age equal to or above 45 years Higher of the Following:
  • 7 times the Annualised Premium
  • 0.25 x Policy Term x Annualised Premium
Maximum Sum Assured For age at entry greater than or equal to 45 years
  • 10 times the Annualised Premium
For entry age below 45 years, the minimum Sum Assured mentioned above is the only available Sum Assured.

Investment Funds of Aegon iMaximise Insurance

Fund Name
Blue Chip Equity Fund The Fund objective is to provide long-term capital appreciation by investing in a diversified equity portfolio consists of predominantly large cap companies with strong financials, quality management and market leadership.
Accelerator Fund This fund will invest in equities of various sectors to diversify the portfolio and generate attractive returns in the long term. It also has the flexibility to invest in fixed interest assets and money market instruments up to 20% each.
Opportunity Fund This fund will aim to provide a long term wealth generation by actively managing a diversified equity portfolio, predominantly comprising of stocks with market capitalization between INR 5,000 crore to INR 15,000 crore. The fund will also have the flexiblity to invest in fixed interest assets and money market instruments upto 20%.
Stable Fund This fund will aim to maintain a balance between equity and debt exposure to have a stable and attractive long term return. It will also shift allocation between debt and equity to gain from asset price movements over medium to long term.
Secure Fund This fund will aim to generate income consistent with high levels of liquidity while protecting the capital. It will invest in a diversified portfolio of money market instruments & other short term fixed interest securities.
Debt Fund This fund will aim to generate attractive returns by investing in a diversified portfolio of government debt, corporate debt, money market instruments and other fixed income securities of varying maturities

Benefit description of Aegon iMaximise Insurance

Death Benefit – Option 1 In case of an unfortunate demise of the Life Assured, the nominee receives highest of Sum Assured or Fund Value or 105% of all the premiums paid. In case a Top-Up fund exists, higher of Top-Up Sum Assured or Top-Up Fund Value will also be paid. The Policy terminates thereafter
Death Benefit – Option 2 In case of an unfortunate demise of the Life Assured during the term of the Policy, the nominee receives the following benefit:
  • Higher of Sum Assured (including Top-Up Sum Assured) or 105% of all premiums paid (including Top-Up premiums) is immediately paid
  • All the future premiums will cease. Company will regularly fund into the Policyholder’s Unit fund an amount which is equivalent to the Premium of the Policy, for the outstanding Premium Payment Term. This benefit is known as the Additional Savings Benefit (ASB)
  • An amount equal to the Annualised Premium is paid to the beneficiary at the start of every Policy year following the date of death till the end of the Policy Term.This benefit is known as Income Benefit (IB)
  • Total Fund Value (including Top-Up Fund value) as on the date of intimation of the death of the Life Assured will be reallocated to the Secure Fund. All future premiums as per the Additional Savings Benefit will also be invested in the Secure Fund. At the end of the Policy Term, the Total Fund Value will be paid to the beneficiary.
Maturity Benefit On Maturity, the insured will receive the Total Fund value (including the Top-Up Fund Value) as on the maturity date.
Partial Withdrawal During the Policy Term, the insured may need money to fulfil certain urgent goals. The partial withdrawal facility gives the insured the option to withdraw money from your Fund Value after first 5 Policy Years. The maximum amount of partial withdrawal allowed in any Policy Year is 20% of the Fund Value at the beginning of that Policy Year. The insured has flexibility to make up to four partial withdrawals in each Policy Year free of charge.
Premium Redirection This feature allows the insured to alter the premium allocation to be applied to your future premiums and Top-Ups.
Switch This feature helps the insured to shift investments from one fund to another. Four switches are allowed free of charge in each Policy Year. Any additional switches will incur charges as per terms and conditions of the plan.
Top Up A Top-Up premium is an additional amount of premium over and above the contractual basic premiums with a minimum amount of ₹5,000. The insured can Top-Up your premium anytime except from the last 5 policy years. At any point of time during the policy term, the total Top-up premiums paid shall not exceed the total regular premiums paid to date. Top-Ups allow the insured to contribute additional premiums if and when you want to boost your Fund Value at their convenience. Payment of Top-Up premium will also increase your Policy Sum Assured, thus enhancing the insurance cover on the life of the insured.

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2022