AEGON Life Rising Star Insurance Plan

Aegon Life Rising Star is a Unit Linked Child Plan which aims to stabilize the child’s future against any contingencies.

Aegon Life Rising Star - Key Features

• Regular Premium Payment
• In Built Premium Waiver Benefit on Death 
• Income Benefit
• Invest Protect Option

Or,

• Accelerator Fund
• Stable Fund
• Secure Fund
• Debt Fund

Aegon Life Rising Star - Benefits

On Maturity:

Total Fund Value + Top-up Fund Value

**The maturity value can be chosen in lump sum or by equal installments within a 5 year of tenure post maturity

On Death: In the case of the insured’s death,

• The assured sum along with the top-up sum assured is immediately paid subject to a minimum of 105% of premiums paid.
• The fund value will automatically be transferred to the Invest Protect option.
• One annual premium is paid to the beneficiary every year post death till end of the term.

**Future premiums are waived off and paid for by the company.

Tax Benefit: All the premiums paid and claims received are eligible for tax deductions Under Section 80C and 10(10D) of Income Tax Act.

Aegon Life Rising Star - Product Specification:

Details About Premium

Illustration for a male aged 34 years

Aegon Life Rising Star - Policy Details

• Grace Period: In a case where the insured fails to pay his premiums on time, then he is allowed a 15 days grace period is for monthly premium payment cover and a 30 days grace period for a other premium payment modes.
• Policy Termination or Surrender Benefit: On completion of 5 years with the plan a surrender value gets enabled with it. In a case where the insured surrenders his plan before completing 5 years, then the fund value including the discontinuation charges will be added to discontinuation fund where it shall grow at a rate of 4% annual. On completing 5 years of the plan this discontinuation fund shall be paid to the policyholder without any additional charges.
• Free look Period: In case the policyholder is not satisfied with his plan or its features and benefits, then he has the choice to cancel it within 15days of receiving policy documents, given no claims have been done yet.

Inclusions

• Partial Withdrawals: Every year 4 Free Partial withdrawals are allowed  with a maximum of 20% of the Fund Value
• Systematic Partial Withdrawals: The units get redeemed periodically and the proceeds are transferred to the policyholder’s account
• No Premium Allocation Charges: Every year 4 Free switches are allowed for switching between funds
• Premium Redirection Option: Future premiums can be redirected to a new fund
• Additional Rider Covers: Top-ups covers are available to increase the Fund Value by paying additional premium.

Additional Features or Riders

• Under the plan the assured sum amount increases upto 50% without providing any medical documents within 3 months of child birth or marriage or child birth.
• Auto Rebalancing Feature: Every year the funds are rebalanced according to the ratio chosen at inception

Exclusions

Suicide: In case of suicide within 12 months of policy inception or renewal of the plan the fund value as on the date of death is paid to the beneficiaries. If the insured commits suicide within 1 year after increasing the sum assured, then the increased sum assured shall not be applicable.

Required Documents

Below are the documents which are required to be insured under Aegon Life Rising Star Plan:

• Duly filled Application form/Proposal form
• Address Proof
• Age Proof
• Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
• Medical History 

**Documents required are a subject to the assured sum amount chosen and the premiums paid for it.

 You may also like to read: Aegon Life Child Insurance Plans

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