AEGON Life Future Protect Insurance Plan

Aegon Life Future Protect - Product Specification:

Details About Premium

Illustration for a policy term and PPT of 30 years

Aegon Life Future Protect - Policy Details

Grace period: In case the insured is not satisfied with his monthly premium plan then he is free to cancel it within 15 days since inception. And, in the case of other premium payment mode, he is allowed to cancel his plan within 30 days since inception.

Policy termination or Surrender Benefit: On completion of 5 years of his plan, a surrender value gets enabled. In case the insured surrenders his plan before completing 5 years, then the fund value net discontinuation charges shall be credited to his Discontinuation Policy Fund where it shall yearly grow at a minimum of 4%.

In a case, if the insured chooses to discontinue his plan after completing 5 years, then the entire fund value as on the date of surrender shall be paid to the insured without any additional charges applicable.

Free look period: In a case, the insured is not satisfied with his unit linked plan or the features and benefits provided by it, then he has the choice to cancel his policy within 15 days since inception, given no claims have been done yet.

Inclusions

• Partial Withdrawals: Every year Partial withdrawals are allowed  for free with a maximum of 20% of the Fund Value
• Systematic Partial Withdrawals: Periodically units are redeemed and the proceeds are transferred to the bank account of the insured
• No Premium Allocation Charges: Every year four Free switches are allowed for switching between funds
• Premium Redirection Option: The future premiums can be redirected to a new fund via this option which has no cost associated with it
• Rider Top-up Covers:  With a minimum of Rs.5,000 top up covers are allowed for increasing the Fund Value

Additional Features or Riders

• Rider Covers: Under the rider covers, sum assured amount can be increased by up to 50% of the base SA or 10 lakhs whichever is lower without any extra medical requirements within 3 months of marriage or childbirth
• Auto Rebalancing feature: Under this, the fund is rebalanced every year according to the ratio chosen at inception

Exclusions

Suicide: In case the insured commits suicide within the first year of the plan inception or renewal, then the settlements are done by paying the total fund value as on the date of death.

Note: In case the insured commits suicide within the first 12 months of increasing the sum assured then the increased sum assured shall not be applicable with the benefits.

Required Documents

Below are the documents which are required to be insured under Aegon Life Future Protect 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 subject to the assured sum amount chosen and the premiums paid for it. 

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