Aegon Life Premier Endowment Insurance Plan is a traditional Endowment Assurance Plan which facilitates savings while at the same time providing life insurance benefits.
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
18 years |
55 years |
|
Maturity Age (Last Birthday) |
- |
60 years |
|
Policy Term (PT) in years |
10 |
|
|
Premium Paying Term (PPT) in years |
8 |
|
|
Premium Paying Frequency |
Annual, half-yearly, monthly |
|
|
Premium |
Regular & Limited Pay - 20,000 Single Pay – 100,000 |
300,000 |
|
Sum Assured |
10 * Annual Premium |
|
Annual premium in Rupees and Benefit Illustration for a male aged 35 years
|
Term |
15 years |
|
PPT |
10 years |
|
Premium |
50,000 |
|
SA |
303,232 |
|
Accrued Guaranteed Additions |
151,616 |
|
Maturity Benefit @ 4% |
605,099 |
|
Maturity Benefit @ 8% |
776,426 |
Grace Period: 15 days’ grace period is allowed for premium payment in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: the policy acquires a Surrender Value if 2 / 3 full year’s premium has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = (GSV% * total premiums paid) + (GSV % * Accrued bonuses + accrued Guaranteed Additions)
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Loan is available under the plan after 3 full years’ premiums have been paid subject to a minimum of Rs.5000 and maximum of 60% of the Surrender Value
In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
