- *T&C Applied. Returns guaranteed by the Insurer as per the Insurance Plans.
- **Returns guaranteed by the insurer
- *** Tax adjusted Returns - assuming 30% tax bracket
Aegon Life Regular Money Back Insurance Plan
Aegon Life Regular Money Back Insurance Plan
Aegon Life Regular Money Back Insurance Plan covers the life and financial emergencies of assured individuals as a non-linked participating insurance plan. The policy offers flexibility in terms of premium payment and benefits accessed. It focuses on reducing the financial burden of the people through a long term investment process.
The 20-year duration of the policy is divided into two segments. The policyholders are required to invest for the first ten years by paying premiums. In the next ten years, the policyholders will get assured returns as per the IRDAI norms. It also covers financial emergencies and health requirements by providing loans at the surrendered value and accidental benefits through its Premium Shield Rider.
Aegon Life Regular Money Back Insurance Plan Details:
Premium Payment Term
7 years/ 10 years/ Single Pay
Premium Payment Frequency
Annually, Half-Yearly, Monthly
Minimum: 7 days
55 years for seven years or ten years of payment terms
60 years for a single payment term
75 years for seven years and ten years of payment terms
80 years for Single Pay
15 days for monthly mode policy
30 days for half-yearly and annual mode policy
The amount of sum assured depends on the premium term and premium mode chosen and the age of the beneficiary.
The policy can be liquidated once surrendered at the surrender value.
Benefits of Aegon Life Regular Money Back Insurance Plan
- Flexibility: Aegon Life Regular Money Back Insurance Plan offers flexibility in terms of payment mode and premium terms. The insured individuals can pay the premiums monthly, half-yearly and annual periods as per their convenience.
- Loan: Aegon Life Regular Money Back Insurance Policy offers loans based on the surrender value. The minimum amount of the loan is INR 5000, and the maximum amount is 60% of the policies’ surrender value. The interest rate of the loan is reviewed every financial year.
- Disability Rider: Aegon Life Regular Money Back Insurance Policy waives premium amount partially or entirely in case of disability or death of insured individuals due to accidents or sickness.
- Tax Benefit: Aegon Life Regular Money Back Insurance Plan Premium will help the insured individuals to get tax benefits as per Income Tax* norms.
*Tax benefit is subject to changes in tax laws
- Life Cover: It offers life cover to the family members in the absence of insured individuals. The death benefits are increased annually every year.
- Guaranteed Payouts: Aegon Life Regular Money Back Insurance Plan offers 15% of the sum insured as guaranteed payouts each year, starting from the 10th policy year till the next ten year period.
- Bonus: Timely payment of Aegon Life Regular Money Back Insurance Plan premium allows insured individuals to get two bonuses such as accrued bonus and terminal bonus as a portion of the Sum Assured. This will be paid at every financial year’s end.
- Death Benefit: Aegon Life Regular Money Back Insurance Policy offers death benefits to assured individuals during the policy terms, if all premiums are paid. If the policy expires, no death benefit is provided. The death benefit includes interim bonus, accrued bonuses, terminal bonus, and assured death benefit.
- Surrender Benefit: The policy has the following surrender benefits
- The policy can provide a loan once it reaches surrender value.
- The surrender value will be acquired immediately in case the policyholder opted for a single pay mode.
- It is required to pay two years' premium in case the policyholder opted for other payment modes.
- Maturity Benefit: Successful payment of Aegon Life Regular Money Back Insurance Plan premium will offer maturity benefits such as 150% of the assured sum, accrued bonus at 8% rate, and terminal bonus at a 4% rate.
Premium for Aegon Life Regular Money Back Insurance Plan
The individuals can opt for either single pay or limited pay premium terms if they buy Aegon Life Regular Money Back Insurance Plan.
For a single pay term, they will provide a minimum premium of INR 1, 00,000.
The limited pay term offers seven years or ten years of payment options. In either case, it is required to pay a minimum premium of INR 12,000 p.a.
The amount of premium and term and mode of the premium will decide the amount of assured sum. The policy applicants can assess these factors with the help of the Aegon Life Regular Money Back Insurance Plan calculator available online.
Additional Rider for Aegon Life Regular Money Back Insurance Plan
Persons with a disability or health risk would buy Aegon Life Regular Money Back Insurance Plan to avail benefits offered by Aegon Life Premium Shield Rider. It is an additional rider offered alongside the policy. It waives premiums partially or entirely for assured individuals' death or disability by accident or health issues. Under the policy, the critical disabilities included are loss of eyesight, hearing ability, speech, or disability due to limb issues.
Eligibility for Aegon Life Regular Money Back Insurance Plan:
- Entry Age: The minimum age for the applicant must be seven days, and the maximum age for the applicant must be 55 years (Limited Pay) or 60 years (Single Pay)
- Maturity Age: The maximum age for the applicant must be 75 years (Limited Pay) or 80 years (Single Pay)
What are the Documents Required to Buy this Policy?
The following documents are mandatory to buy the policy.
- Identity Proof: Aadhar ID, Voter ID, or Passport
- Address Proof: Aadhar ID, Driving License, Voter ID, Passport or Ration Card
- Income proof: Income Tax Return documents or salary slips
How to Buy this Plan Online?
The applicants must check the Aegon Life Regular Money Back Insurance Plan reviews before purchasing the policy. However, an online Aegon Life Regular Money Back Insurance Plan is not available. To buy the policy, they must follow the traditional method as mentioned below.
- They can approach the branch office of Aegon Life Insurance or insurance advisors.
- They need to mention the premium amount, policy term, and payment mode to fill the application form.
- They need to draw a cheque in favor of Aegon Life Insurance Company Limited.
Exclusions of Aegon Life Regular Money Back Insurance Plan
The policy excludes cover for death due to suicidal activities. However, the claimant will get 80% of the total premium paid based on the Aegon Life Regular Money Back Insurance policy status. The premium amount will be assessed from the date of commencement of risk or date of revival of the policy.
Ans: One can still pay the premium within 15 days (monthly mode) or 30 days (all other modes) from the due date for premium payment.
Ans: The policy has 15 days (Direct Purchase) or 30 days (Other Modes) of the free look period, starting from the date of policy purchased.
Ans: If the assured individual and proposer are different, the proposer will get the benefits. When both are the same, the life assured will get the benefits.
Ans: It will deduct the cost of stamp duty, medical tests conducted, and part of the risk premium.
Ans: It will be terminated if the due premium is not paid for two years, or the lapsed policy is not reinstated within five years*. * Standard T&C Apply
Ans: Yes, both nomination and assignment are allowed under this policy.
Ans: It charges a half-yearly premium and monthly premium as 51.2% and 8.7% of the annualized premium, respectively.
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