Aegon Life Pension Plan Calculator

These plans also come with an online calculator to determine premiums and coverage.

Why Should You Use Aegon Life Pension Plan Calculator?

The economic conditions, monetary requirement, liabilities etc., will not remain the same after one retires. All these factors also affect financial health for the years of no income. 

In general, it is not easy to calculate the savings required after one retires no matter how much calculation is done. To make things easier, the Aegon life pension plan calculator uses multiple essential information like monthly expenses, savings, age, salary, dependants, gender, etc. This will help in choosing the right pension plan for them. 

How To Use Aegon Life Pension Plan Calculator?

Using the Aegon life pension plan calculator is easy and hassle-free. Follow these steps to get the savings and investment for retirement calculated in an instant: 

• Go to the official website of Aegon life.
• Go to the calculator page and select the retirement planner calculator.
• Now fill in the details like gender, annual earnings, expense, current age and retirement age. 
• Click on the calculator to get the estimates. 

Advantages of Aegon Life Pension Plan Calculator

When it comes to pension plans, many tend to think that they can determine the savings and investment amount on their own. It is a misconception in most parts. That is why using the Aegon life pension plan calculator is the best option for most.

Following are the things one must remember:

• Estimate savings: one of the most crucial things is to get an idea about how much to save to have a financially peaceful retirement phase. The calculator helps in estimating the pension that will be required during the retirement plan. 
• Estimate investment: next, after knowing how much one will need during the retirement years, it is time to learn how much to invest in getting equivalent returns after retirement. Aegon life pension Plan calculator will help in estimating the investment amount as well for the required savings. 

Documents Required

Aegon Life Pension Plan calculator is an easy way to calculate the sum assured one should choose for retirement. 

Here is information that one will have to enter while using the calculator to get an estimate: 

• Name 
• Mobile number
• Current age and the retirement age of the insured
• Gender
• Email ID
• Current annual expense
• Rate of inflation
• Working phase: rate of return
• Retirement phase: rate of growth on investment 

Benefits of Aegon Life Pension Plan

Aegon life pension plan comes with several features and benefits that help attain financial freedom and stability after retirement. This is a limited payment plan in which the premium is to be paid for a limited period and not until the plan's maturity. 

Here are some benefits of the Aegon life pension Plan:

• Bonus and discounts: the pension plan allows the insured to get part of the company earned benefits as bonuses. Aegon announces the bonus earnings in regular intervals. In Aegon Life Pension Plan, the bonuses accumulated during the premium paying term of the plan are given after the payment term ends. The bonuses accumulated after the premium is paid fully are given at maturity or with the death benefits.
• Regular payments: the Aegon life pension Plan attains maturity when the insured reaches 85 years. The premium payment stops after a certain period, and one can get regular payments until the age of 85. The regular benefit included 7.5 per cent of the sum assured paid every year. One can calculate the earnings using the Aegon life pension Plan calculator.
• Death benefits: In the death of the plan holder during the premium payment period, the death benefit is paid to the nominee. The death benefit will include the sum assured and other bonuses. The total amount paid will be 10 times or higher than the premium paid annually to date. If the plan holder's death after the premiums are paid, the sum assured is paid.
• Rider benefit: under the Aegon life pension Plan, there is an additional rider to add to their pension plan. The ADDED rider is an accident and disability covering rider. The plan holder will get additional bonuses in case of an accident causing disability or dismemberment.
• Tax benefit: one can get tax benefits on both maturity benefits or claim and premium paid during the premium payment term. The maturity benefit or claim is exempted from tax under section 10(10D) and the premium is exempted under section 80 C of the Income Tax Act. 

Aegon Life Pension Plan Premium Rates

Aegon Life Pension Plan is a plan that allows the holder to pay the entire premium or the buying price of the policy in the beginning. However, under the limited premium feature, one can choose the limited premium payment term to be paid annually, monthly, half-yearly or quarterly. 

The purchase of the plan differs based on the chosen annuity type. The person can choose either life annuity or joint-life annuity. The minimum purchase price of the life annuity plan is Rs. 2, 28,829, and of the joint-life annuity is Rs. 2, 28,519. The return rate of the annuity is 100 percent. One can get better estimates using the Aegon life pension plan calculator. The minimum annuity paid is:

• Yearly: 12,000/-
• Half-yearly: 6,000/- 
• Quarterly: 3,000/-
• Monthly: 1,000/-

There is no maximum limit on the annuity. The annuity payments are paid after the modal duration is in the form of arrears.

FAQ's

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

“Tax benefit is subject to changes in tax laws. Standard T&C apply.”