ULIP plans from Aegon Life have been specifically designed to help you maximize your investments by providing you with a range of investment options. Unit Linked Insurance Plans help you save and grow your money in an effective and planned way.
Aegon Life insurance basically offers 6 ULIP plans for investing your money.
Aegon Life Future Protect Plan
Aegon Life Future Protect Plan not only helps you gain from your investment but also helps you reduce the risk to your returns as the policy comes to maturity. The policy also provides you with the alternative to partly withdraw your funds and choose a settlement option for disbursements of maturity amount.
Special Features and Benefits of Aegon Life Future Protect Plan
Death Benefits: The policy offers death benefits in case of death of the insured
Higher of the Sum Assured along with the top-up Sum Assured the net of any fractional withdrawals done in the previous 2 years if the age is less than 60 years or withdrawals made after reaching 58 years if age is over 60 years or Fund Value including the Top-up Fund Value subject to a highest of 105% of premiums is paid to the nominee.
Maturity Benefits: Under the maturity benefit option, the Company will manage the funds to protect them against market unpredictability towards maturity. The allocated premium is primarily invested in Accelerator Fund and in the last 3 policy years, the fund value is methodically transferred first to Stable Fund, then to Debt Fund and in the final year to Secure Fund. Under this benefit, the investments in each fund are also switched on a monthly basis to the ensuing fund @ 10%.
On Maturity, the insured shall get the Total Fund Value as well as the Top-up Fund Value which can be taken in a lump sum or under the Settlement Option where the earnings can be taken in the same installments for a period of 5 years after the policy maturity.
Tax Benefits: Under this plan, all the premiums paid and income received is entitled to tax deductions under Section 80C and 10(10D) of the Indian Income Tax Act.
- Partial Withdrawals: The policy also allows year partial withdrawals each year for free of cost with the highest of 20% of the Fund Value.
- Systematic Partial Withdrawals: Under this plan, the periodical units are redeemed and the proceeds are transferred to the bank account of the insured.
- No Premium Allocation Charges: Aegon Life Future Protect Plan allows 4 free switches every year for switching between funds.
- Premium Redirection Option: With this option, all the future premiums can be redirected to a new fund which and it has no associated cost with it.
- Rider Top-up Covers: The policy also offers covers for increasing the Fund Value with a minimum of Rs. 5, 000/- top-up.
Aegon Life Future Protect Plus Plan
This Aegon life unit linked insurance plan has been designed to guard your money through a process of methodically switching the Fund from Accelerator Fund to Secure Fund during the last 3 policy years. This ULIP plan provides with Sum Assured as well as fund value as death benefit.
Special Features and Benefits of Aegon Life Future Protect Plus Plan
- This policy provides you with Double Death Benefit of Sum Assured as well as the Fund Value if the Life Insured dies within the policy period.
- Aegon Life Future Protect Plus Plan is basically a simple Unit Linked Insurance Plan.
- Under this ULIP plan by Aegon Life, policyholder can choose Invest Protect Option, where the funds are invested in the equity-oriented fund till the last 3 years when it is systematically taken out in order to safeguard from equity market fall.
- The plan comes with an option of Auto Rebalancing, where the funds would rebalance automatically as per the chosen fund allocation aforementioned.
- Life Future Protect Plus Plan by Aegon Life comes with 4 fund options as well as 2 rider options
- During the policy term, the policyholder can increase Sum Assured twice only on events like Marriage and Childbirth.
Aegon Life Future Protect Premier Plan
Aegon Life Future Protect Premier Plan is a limited premium unit linked insurance plan. The policy has not only been designed to help you to earn from your investments but also aims to safeguard your money through the process of systematic shifting of the Fund from Accelerator Fund to Secure Fund during the last 3 policy years.
Special Features and Benefits of Aegon Life Future Protect Premier Plan
- This is basically simple ULIP from Aegon Life Insurance Company.
- Aegon Life Future Protect Premier Plan is a Limited Pay ULIP.
- Under this plan, the policyholder can choose Invest Protect Option, where the funds are invested in the equity oriented fund till the last 3 years when it is systematically taken out in order to offer defense from equity market fall.
- The policy comes with an option of Auto Rebalancing, where the funds would be automatically rebalanced as per the chosen fund allocation aforementioned.
- The policy is offered with the option of 4 fund options
- During the policy term, on specific events like Marriage and Childbirth, the policyholder can increase Sum Assured twice.
Aegon Life Assure Plan
Aegon Life Assure Plan has been designed to ensure that you never miss an opportunity to make the most of your gains and at the same time you are protected from losses. This is an uppermost NAV unit linked plan which locks in your returns in order to help you reap the utmost benefit out of your ULIP policy.
Special Features and Benefits of Aegon Life Assure Plan
- Aegon Life Assure is a unit linked insurance plan from Aegon Life Insurance Company
- The investment under Aegon Life Assure plan is done in NAV Protector Fund
- The calculation of Special NAV is done as 80% of the highest of all NAVs calculated on each Fridays, which is known as Reset Days
- Under this plan, the Special Fund Value is calculated as per the Special NAV
- On the other hand, the Maturity benefit is calculated as per the Special Fund Value of this plan
- Aegon Life Assure also offers added Accidental Death, Critical Illness Benefit, Dismemberment and Disability Benefit riders.
- Death Benefit – The nominee would get the Sum Assured or Special Fund Value (either of which is higher) in case of death of the Life Insured.
- Maturity Benefit – The Special Fund Value is paid to the policyholder on maturity.
- Income Tax Benefit - Under Section 80C of the income tax act, life insurance premiums paid up to Rs. 1, 00,000/- are entitled to a deduction from the income tax every year.
Aegon Life Assure Plus Plan
Aegon Life Assure Plus Plan is basically a single premium ULIP that has been designed to ensure that you are safeguarded from the uncertainties of market fluctuations.
Special Features and Benefits of Aegon Life Assure Plus Plan
- Aegon Life Assure Plus is a Single Premium ULIP.
- The investment under this Aegon Life unit linked insurance plan is done in Debt, Secure, Accelerator, Stable and NAV Protector Fund.
- In case of NAV Protector Fund, the calculation of Special NAV is done as 80% of the maximum of all NAVs calculated on every Fridays, alternatively known as known as Reset Days and Special Fund Value is calculated as per the Special NAV.
- If NAV Protector Fund has been chosen, the Maturity Benefit is Special Fund Value.
- The Maturity Benefit is Fund Value if any other Fund has been chosen.
- At maturity, Special Units are allocated towards this ULIP as per the base premium amount.
- Death Benefit – In the event of the unfortunate death of the Life Insured within the policy term, then the nominee would receive the Sum Assured or Special Fund Value or Fund Value, either of which is higher as the Death Benefit and thereafter the policy would cease.
- Maturity Benefit – In case of the survival of the insured till the policy maturity, the Special Fund Value or Fund Value, whichever is appropriate, will be paid to the policyholder as Maturity Benefit and the policy would cease.
- Income Tax Benefit - Premiums paid under this life insurance policy are excused from income tax under Section 80C and the maturity amount is exempted from income tax under Section 10 (10D) of the income tax act (subject to fulfillment of all terms and conditions).
Aegon Life iMaximize Plan
Aegon Life iMaximize Plan is basically an online unit linked insurance plan. The policy has been designed to help you get insured directly without having to face the bulky process of dealing with insurance intermediaries. By charging you zero premium allocation charge, the policy also helps to maximize your investment.
Special Features and Benefits of Aegon Life iMaximize Plan
- Aegon Life iMaximize Plan impose ZERO Premium Allocation charge, which means all your money is invested.
- In addition, you don’t need to pay any premium allocation charge for top-ups also.
- From the 12th year onwards till the maturity of the policy, special units will be added.
- Depending on your preference, you can have the choice of 2 investment strategies under this Aegon life unit linked insurance plan.
- Aegon Life iMaximize Plan can be easily purchased online.
- Death Benefit – People who opt for Single Premium plans will be eligible to get the higher of Sum Assured or Fund Value. In case regular premium payment mode is chosen, the policyholder will have 2 options to assess the death benefit which will be payable to the nominee at the purchasing time Aegon Life iMaximize Plan.
- Option 1: 105% of all the premiums paid or the higher of Sum Assured
- Option 2: 105% of all the premiums paid or the higher of Sum Assured + All regular unpaid premiums for the remaining policy tenure are waived and payable by the company (Premium Continuance Benefit) + The annualized premium is payable to the nominee at the beginning of every policy year (Income Benefit).
- Maturity Benefit – The iMaximize Plan fund value will be given to the policyholder in case of policy maturity.
- Tax Benefit – The premiums paid up to Rs. 1, 50, 000/- under this life insurance plan are entitled to taxable income tax deduction every year under section 80C of the income tax act. Also, the maturity amount that you will be receiving from this plan is excused from tax deductions under section 10(10D) of the income tax act.
It’s always advisable to compare different Aegon Life ULIP plans since it can help you to understand those ULIP plans offered by Aegon Life Insurance Company. In addition to that, compare all Aegon Life ULIPs as well as other ULIP plans offered by other life insurance companies in India online to avail and buy the best ULIP policy that suits your unique requirements. You may also choose to buy the online ULIP policy directly from the life insurance company’s official website.