Aegon Life Rising Star is a Unit Linked Child Plan which aims to stabilize the child’s future against any contingencies.
Insurer pays premium in case of loss of life of parent
Create wealth for child’s aspirations
Tax Free maturity amount+
12+ plans available
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
Regular Premium Payment
In Built Premium Waiver Benefit on Death
Invest Protect Option
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.
|Entry Age of Parent(Last Birthday)
|Entry Age of Child (Last Birthday)
|Maturity Age (Last Birthday)
|Policy Term (PT) in years
|25 – entry age of the child
|Premium Paying Term (PPT) in years
|Equal to policy term
|Premium Paying Frequency
|Yearly, half-yearly, monthly
|Higher of 10*annual premium or 0.5*term*annual premium for ages<45 years and higher of 7*annual premium or 0.25*term*annual premium for ages>=45 years
|18*annual premium if age is <45 years or 10*annual premium if age is >=45 years
Illustration for a male aged 34 years
|Age of Child
|Policy Term and PPT
|Maturity Benefit @ 4%
|Maturity Benefit @ 8%
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.
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.
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
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.
Below are the documents which are required to be insured under Aegon Life Rising Star Plan:
Duly filled Application form/Proposal form
Other KYC documents; PAN Card, Adhaar Card, Tax Details etc
**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
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.
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