Aegon Life ULIP Plans

Aegon Life ULIP Plans

by Editor

Aegon Life Insurance Company

Formerly Aegon Religare Life Insurance Company, Aegon Life Insurance Company is one of the most sought after and popular private life insurance companies in India. Aegon Life Insurance Company is a joint venture between popular multinational insurance, pension and assets management company, Aegon N.V. and India’s famous media conglomerate, The Times Group.

With its headquarter in Netherlands, AEGON N.V. has 49% stakes in Aegon Life Insurance Company, while The Times Group owns 51% stakes in the firm. With its strong presence in 52 cities across India and its comprehensive network of more than 67 distribution branches, Aegon Life Insurance Company reaches out to and serves over 3.5 lakh customers in India.

Over the years, Aegon Life Insurance Company has become a household name in India owing to its wide range of innovative products, customer friendly staff and powerful distribution network. The company offers an extensive range of innovative and ULIP plans to ensure safe investment and maximum returns for investors.

About Aegon Life ULIPs (Unit Linked Insurance Plans)

Unit Linked Insurance Plan (ULIP) is a hybrid insurance product and is a combination of investment and insurance. This means that ULIPs offer the double benefit of insurance coverage and investment opportunities. In addition, unit linked insurance plans also offer the benefits of tax-saving which is usually not available with core investment products. Aegon Life ULIP plans are amongst the best investment-insurance products that are carefully contrived to suit the requirements, budget and risk appetite of all sorts of investors.

In fact, a large number of investors in India pin down their faith upon Aegon Life ULIP plans owing to the wide range of benefits, innovative features and lucrative returns associated with these plans. In addition to all these, Aegon Life Insurance plans also ensure comprehensive life cover for the insured and multiple benefits for the nominees of the policy.

Given the many benefits and features associated with Aegon life ULIP plans, it’s no wonder why Aegon Life ULIP plans sell like hot cakes in India. Sales of Aegon Life ULIP plans have tripled after the introduction of LTCG (Long Term Capital Gains) taxes on equity mutual fund schemes in India.

Aegon Life ULIP Plans – Overview

Aegon Life Insurance Company offers a multitude of ULIP plans to make sure that investors of all budget and risk appetite are able to take the best pick. Here is a table of some of the best ULIP plans from Aegon Life Insurance Company.

Plan Name Max Sum Assured Fund Options Free Switches
Aegon Future Protect Plan30 times X AP for Policy Term 25 or 30 years44
Aegon Future Protect Plus30 times X AP for Policy Term 25 or 30 years44
Aegon Future Protect PremiereAccording to SA multiple grid44
 Aegon Life Assure Plan7  X Annualized Premium for age > 50 years1NA
Aegon Life Assure Plus Plan10 x Single Premium for Age 5254
Aegon Life iMaximize Plan30 X annualized Premium24

Let’s get to know these ULIP plans from Aegon Life Insurance Company in greater details. Skim through to read the key benefits, features and other details of Aegon Life ULIP plans.

Aegon Future Protect Plan

Aegon Life Future Protect Plus Plan is one of the bestselling plans in the Indian Insurance sector. This is a non-traditional ULIP plan that provides investors with the facility of bonuses. Under this plan, investors need to make the premium payment for the entire term of the policy.

The plan offers a unique ‘Invest Protect’ option that helps investors move out of their current present investment funds 3 years before the maturity of the policy. This can help policyholders avoid getting their maturity benefits impacted by any volatility in the market.

Policyholders receive the fund value as the maturity benefit at the end of the policy term. In the event of the demise of the policyholder during the term of the plan, double death benefit is paid out to the nominee and the plan terminates. The double death benefit includes the total fund value plus the Sum Assured.

Key Highlights

1: Aegon Life Future Protect Plus Plan offers double death benefit to the nominee of the policy in the event of the death of the policyholder during policy term. Double death benefit includes total Fund Value and the sum Assured.
2: This plan offers ‘Invest Protect’ option. This option allows policyholders to systematically take out their funds during the last years of the policy to ensure maturity amount get hit by market volatility.
3: This plan also offers the option of Auto Rebalancing. This option helps policyholders ensure that the funds are rebalanced automatically as per their preferred fund allocation.
4: Aegon Life Future Protect Plus Plan comes packed with two helpful rider options.
5: This plan allows policyholders to increase the Sum Assured twice during the term of the policy on milestone events such as childbirth and marriage.

Eligibility Details

MinimumMaximum
Entry Age7 years60 years
Maturity Age75 years
Policy Term15 years40 years
Premium amount20,000 p.a. for Annual Mode

30,000 p.a. for other modes

No Limit
Sum AssuredRs.3.5 lakhsAges 18-40 years – Rs.50 lakhs

Ages 41-50 years – Rs.30 lakhs

Premium Payment TermEqual to Policy term
Premium Paying FrequencyYearly, half-yearly, or monthly

Key Features

Aegon Life Future Protect Plus Plan offers a lot of features to ensure that the policyholders are able to quickly and easily maximize their returns on investment. Here are just 5 of the many features of the plan:

Riders

There are 2 rider options available under Aegon Life Future Protect Plus Plan. These rider options are:

1: Accidental Death, Disability and Dismemberment Benefit
2: Critical Illness Benefit

Investment Fund Options

Aegon Life Future Protect Plus Plan offers the choice of 4 different investment funds. The investment funds available under this plan are:

1: Secure Fund
2: Debt Fund
3: Stable Fund
4: Accelerator Fund

Top-up

This plan allows investors to invest additional premiums as top-up premiums during the term of the policy, except for the last five years of the policy.  Investors can choose to add minimum top-up premium of Rs. 5,000 during the term of the plan.

Switching

Aegon Life Future Protect Plus Plan allows 4 free fund switches every year. This means that investors can choose to switch investment funds as many as four times without having to pay anything. Please note that the switching is not allowed on plans with Invest Protect Option.

Partial Withdrawal

Policyholders are allowed to make partial withdrawals on the policy after the completion of 5 policy years. Partial withdrawal is also allowed when the life insured turns at least 18 years old. This plan allows for at least 4 free partial Withdrawals every year. The minimum amount allowed for partial withdrawals is Rs.5, 000 and the maximum is 20% of the total Fund value at the beginning of a specific policy year.

Plan Benefits

Here are just some of the many benefits that Aegon Life Future Protect Plus Plan has on offer for the investors.

Death Benefit

In the event of the death of the Life Insured during the term of the plan, nominee of the policy is paid out Sum Assured plus the Fund Value as the Death Benefit.

Maturity Benefit

Upon the maturity of the plan, policyholders are paid out the total Fund Value as the maturity benefit.

Income Tax Benefit

Since Aegon Life Future Protect Plus Plan is essentially an insurance plan, the premium amount paid towards the policy is tax free under Section 80C of the Indian Income Tax Act. In addition, the death benefit and the maturity proceeds are also tax free under Section 10(10D) of the Indian Income Tax Act.

Aegon Future Protect Plus

Aegon Life Future Protect Plan is one of the best ULIP products available for Indian investors. This plan has been carefully designed and thoughtfully conceptualized to ensure that the loved ones of the policyholders are not left in a lurch in the event of the sudden death of the policyholder during the term of the plan.

Under this plan, the designated nominee of the policy receives higher of the fund value or the sum assured as the death benefit upon the death of the life insured during the term of the plan. Aegon Life Future Protect Plan comes packed with ‘Invest Protect’ option, which allows policyholders to systematically exit their present investment funds 3 years prior to the maturity of the plan to ensure that their maturity benefit doesn’t get impacted by the market volatility.

Key Highlights

1: Aegon Life Future Protect Plan comes with unique benefit of investment protection to ensure that the maturity benefits of the policyholders aren’t impacted by market volatility.
2: The plan allows for ‘Auto Rebalancing’. With this feature, policyholders can choose to get their funds rebalance automatically.
3: This plan a choice of 4 rewarding and lucrative investment fund options
4: Aegon Life Future Protect Plan comes packed with 2 amazing rider options.
5: The plan allows policyholders to increase their sum assured twice during the tenure of the policy.

Eligibility Details

MinimumMaximum
Entry Age7 years60 years
Maturity AgeNA65 years
Policy Term15 years40 years
Single Premium NANA
Sum AssuredHigher of 10 times X Annualized Premium or (0.5XTermXAP) for age< 45 years

 

Higher of 7 times X Annualized Premium or (0.25XTermXAP) for age>= 45 years

25 times X AP for Policy Term 15 years

 

30 times X AP for Policy Term 25 or 30 years

 

50 times X AP for other terms

Premium Payment TermEqual to Policy Term
Premium Paying FrequencyYearly

Key Features

Packed with a lot of features, Aegon Life Future Protect Plan makes it easy for policyholders to maximize their returns on investment and ensure financially secure future of their nominees. Here is a little smattering on just some of the many features of this plan:

Riders

Aegon Life Future Protect Plan offers the option of 2 different riders. The two rider options available with this policy include:

1: Accidental Death, Disability and Dismemberment Benefit
2: Critical Illness Benefit

Investment Fund Options

This plan offers 4 different and rewarding investment fund options to choose from. These investment fund options are:

1: Secure Fund
2: Debt Fund
3: Stable Fund
4: Accelerator Fund

Top-up Premium

Top-up premium payment option is one feature that adds to the overall popularity of Aegon Life Future Protect Plan. This brilliant ULIP plan allows policyholders to make additional premium payments as top-up premiums during the term of the policy, except for the last 5 years of the policy. The minimum top-up premium allowed under this plan is Rs. 5,000.

Fund Switching

Like other Aegon ULIP plans, this plan too allows policyholders to switch from equity to debt funds depending upon their risk appetite and preferences. The plan allows for 4 free fund switches every year for the term of the policy. However, policyholders who have selected the ‘Invest Protect’ option are not allowed to switch funds.

Partial Withdrawal

Aegon Life Future Protect Plan allows policyholders to make partial withdrawals after the completion of 18 years of the life insured or after the completion of 5 policy years. Rs.5000 is the minimum amount that can be withdrawn as partial withdrawal. However, policyholders must make sure that at least an amount equal to the annual premium of 2 years is maintained as the fund value after partial withdrawals.

Plan Benefits

Aegon Life Future Protect Plan comes packed with a host of benefits to ensure maximum profit and the best return on investment for the policyholders. Some of the many benefits offered under this plan are listed below:

Death Benefit

In the event of the death of the life insured of the policy, the designated nominee of the policy is paid out the death benefit which is higher of the total fund value or the sum assured.

Maturity Benefit

Upon the maturity of the plan, policyholders are paid out the maturity benefit, which is equal to the total fund value.

Income Tax Benefit

Aegon Life Future Protect Plan offers amazing tax saving benefits. The premium payments made towards the policy are liable for tax exemption under Section 80C. In addition, the maturity proceeds and the death benefit are also tax exempt under Section 10(10D) of the Indian Income Tax Act.

AEGON Future Protect Premier Plan

AEGON Future Protect Premier Plan is yet another popular and bestselling plan from Aegon Life Insurance Company. It is a non-traditional, limited pay ULIP plan that offers policyholders with rewarding maturity and death benefits.

This plan has been carefully conceptualized to ensure that it continues to be in effect even after completion of the Premium Paying Term till life insured turns 70 years old. The plan comes with ‘Invest Protect’ option to ensure that policyholders are able to safeguard their maturity proceeds against any market volatility by systematically moving out of their present investment funds 3 years before the maturity of the plan.

Upon the maturity of the plan, the total fund value is paid out to the policyholders as the maturity benefit. In the event of the death of the policyholder during the term of the plan, a death benefit is paid out to the nominee of the policy. This death benefit is higher of the total Fund Value or the Sum Assured.

Key Highlights

1: AEGON Future Protect Premier Plan comes packed with lucrative maturity benefits to maximize the profits for policyholder.
2: The ‘Invest Protect’ option available with this plan can help policyholders safeguard their returns against any market volatility.
3: This plan comes with ‘Auto Rebalancing’ option and the investment funds, selected by the policyholders, automatically get rebalanced.
4: There are 4 different investment fund options to choose from under this plan.
5: The plan allows policyholders to increase the Sum Assured during the term of the policy. However, this option is available only twice during the entire tenure of the policy.

Eligibility Details

MinimumMaximum
Entry Age7 years60 years
Maturity Age70 years
Policy Term70 years – age at entry
Sum AssuredHigher of 10 times X Annualized Premium or (0.5XTermXAP) for age< 45 years

 

Higher of 7 times X Annualized Premium or (0.25XTermXAP) for age>= 45 years

According to the SA Multiple Grid
Premium Payment Term5/7 years10
Premium Paying FrequencyYearly, Half-yearly and Monthly
Annual Premium40,000 p.a. for PPT=5

30,000 p.a. for PPT=7

20,000 p.a. for PPT=10

No Limit

Key Features

Aegon Future Protect Premier Plan offers multiple features to make sure that the policyholders are able to quickly and easily achieve their wealth creation objectives. Here is a list of just some of the many key features of the plan.

Investment Fund Options

AEGON Future Protect Premier Plan comes packed with 4 different and best performing fund options to choose from. These investment fund options are:

1: Secure Fund
2: Debt Fund
3: Stable Fund
4: Accelerator Fund

Top-up

This plan allows policyholders to make additional premium payments, also known as top-up premiums, during the tenure of the policy, except for the last 5 years of the plan. The minimum top-up premium payment allowed under this plan is Rs.5000.

Fund Switching

Policyholders are allowed to switch between their investment funds during the term of the policy. This plan offers 4 free fund switches each year. Please note that no free switches are allowed for policyholders who have selected the ‘Invest Protect’ option.

Partial Withdrawal

This plan also allows policyholders to make partial withdrawals after the completion of 5 policy years. As many as 4 free partial withdrawals are allowed under this plan. The minimum amount that can be withdrawn partially is Rs.5000 and maximum amount is 20% of the total Fund Value of the specific policy year.

Plan Benefits

In addition to its wide range of features, Aegon Future Protect Premier Plan also offers a host of rewarding benefits to the policyholders. Here is a list of just some of the many benefits of the plan:

Income Tax Benefit

The premium payment made towards the plan can be claimed for tax deduction under Section 80C of the Indian Income Tax Act.

Death Benefit

Upon the death of the policyholder during the term of the policy, the designated nominee of the plan is paid out the death benefit which is higher of the Sum Assured or the total Fund Value. Death benefits paid are completely tax-free under Section 10(10D) of the Indian Income Tax Act.

Maturity Benefit

Upon the maturity of the plan, the policyholder is paid out the maturity proceeds, which is equal to the total Fund Value. The maturity proceeds are completely tax-free under Section 10(10D) of the Indian Income Tax Act.

Aegon Life Assure Plan

Aegon Assure Plan is perhaps one of the bestselling ULIP plans available at the disposal of investors of all risk tolerance and wealth creation objectives. The premium payments made towards the plan are allocated in the NAV Protector Fund.

This plan offers Special NAV which is calculated as 80% of the highest of all NAVs on a Reset Day (each Friday). And the Special Fund Value calculations are done using the Special NAV to maximize the profits for investors.

Upon the maturity of the policy, policyholders are paid the Special Fund Value. In the event of the death of the policyholder during the term of the policy, designated nominee of the plan is paid higher of the Special Fund Value or the Sum Assured as the Death Benefit. In addition, the plan comes packed with 2 additional rider options – Accidental Death, Disability and Dismemberment Benefit and Critical Illness Benefit riders.

Key Highlights

1: Under Aegon Assure Plan, the investments are done in NAV Protector Fund in order to maximize the returns for policyholders.
2: The plan allows for Special NAV. This special NAV is calculated as 80% of the highest of all NAVs registered on Reset Days (each Friday).
3: Special NAV is used to calculate Special Fund Value to maximize returns for investors.
4: Special Fund Value is paid out as the Maturity benefit to the policyholder upon the maturity of the plan.
5: Aegon Assure Plan comes packed with 2 different rider options – Accidental Death, Disability and Dismemberment Benefit and Critical Illness Benefit riders.

Eligibility Details

MinimumMaximum
Entry Age7 years70 years
Maturity Age17 years80 years
Policy Term10 years
Premium Amount25,000 for PPT=5

20,000 for PPT=10

 

No limit
Sum AssuredHigher of 10 X Annualized Premium for age< 45 years

 

Higher of 7 X Annualized Premium for age>= 45 years

15  X Annualized Premium for age<=50 years

 

7  X Annualized Premium for age > 50 Years

 

Premium Payment TermYearly, Half Yearly, Monthly

Key Features

Aegon Assure Plan offers a wide range of features to ensure maximum ULIP advantage to the policyholders. Some of the many key features of the plan are listed below:

Riders

Aegon Assure Plan comes packed with 2 helpful rider options. These rider options are:

1: Accidental Death, Disability and Dismemberment Benefit
2: Critical Illness Benefit

Investment Fund Options

The plan invests in only one investment fund option – NAV Protector Fund. This fund option offers a special fund value to ensure maximum profits for the policyholders.

Top-up Premium Payment

The plan allows policyholders to make additional premium payments, known as top-up premium payments, during the term of the plan. However, this facility is not available during the last 5 policy years. The minimum amount of top-premium payment allowed under this plan is Rs.5000.

Fund Switching

This plan doesn’t allow for fund switching since there is only one investment fund available under this plan.

Partial Withdrawal

Policyholders are allowed to make partial withdrawals in this plan after the completion of 5 policy years. The minimum amount allowed for partial withdrawal is Rs.5000 and the maximum amount allowed is 20% of the Fund Value at the start of the policy year.

Plan Benefits

Aegon Assure Plan offers multiple benefits to make sure that the policyholders are able to earn maximum returns on their investment. Here is a list of just some of the many benefits offered by Aegon Assure Plan:

Income Tax Benefit

Since it is primarily a life insurance product, premiums paid towards the policy for up to Rs.150000 is liable for tax exemption.

Death Benefit

In the event of the death of the life insured, the designated nominee of the policy is paid the death benefit which is higher of the Special Fund Value or the Sum Assured. In addition, death benefit paid under this plan is completely tax-free under section 10(10D) of the Income Tax Act.

Maturity Benefit

Upon maturity of the policy, the maturity benefit is paid out to the life insured. Maturity benefit is equal to the Special Fund Value and is completely tax-free under section 10(10D) of the Indian Income Tax Act.

Aegon Life Assure Plus Plan

Aegon Assure Plus Plan is yet another non-traditional ULIP plan offered by Aegon Life Insurance Company. Under this plan, policyholders need to pay the premium in one lump-sum payment at the time of the inception of the policy. Aegon Assure Plus Plan provides investors with the option of 5 distinct investment funds – Secure, Debt, Stable, Accelerator and NAV Protector Fund.

In case an investor opts to invest in NAV Protector Fund, Special Fund Value is paid out to the investors at the time of maturity. Like Aegon Life Assure Plan, the Net Asset Value of this fund declared every day and reset every Friday. The Special NAV is calculated by taking into account 80% of the highest of all NAVs on Friday. Then Using the Special NAV, Special Fund Value is calculated.

In the event of the death of the life insured during the term of the policy, the designated nominee of the policy receives higher of the Special Fund Value/Fund Value or the Sum Assured as the Death Benefit. Upon maturity, Special Fund Value/Fund Value is paid out as the maturity benefit.

Key Highlights

1: Aegon Assure Plus Plan allows investors to invest in 5 different investment fund options.
2: The plan has provisions for providing Special Fund Value to the policyholders if the investor opts for NAV Protector Fund.
3: This plan is known for offering higher returns to the investors by the way of Special Fund Value or Fund Value.
4: The plan offers tax deduction on the premium payment, death benefit and maturity benefit.
5: The plan offers 4 free fund switches each year to the policyholders.

Eligibility Details

MinimumMaximum
Entry Age8 years60 years
Maturity Age18 years70 years
Policy Term10 years
Premium Amount50,000 for NAV Protector Fund and 30,000 for other Funds

 

No limit
Sum Assured5 X Single Premium

 

 10 X Single Premium for Age<= 52

5 X Single Premium for Age >53

 

Premium Payment TermSingle

Key Features

Aegon Assure Plus Plan is yet another popular ULIP plan offered by Aegon Life Insurance Company. This plan is loaded with a lot of features to help policyholders make the most of the hard-earned money. Here are just some of the many key features of this plan:

Investment Fund Options

Aegon Assure Plus Plan provides investors with the option of 5 distinct investment funds. These funds are:

1: NAV Protector Fund
2: Secure Fund
3: Debt Fund
4: Stable Fund
5: Accelerator Fund

Top-up Premium

This amazing plan from Aegon Life Insurance Company allows investors to make top-up premiums during the tenure of the policy, except for the last 5 years. The minimum amount of top-up premium allowed under this plan is Rs.5000.

Listed below is a table that illustrates the top-up premium payment allowed at different age intervals.

 Age at making the top-upBelow 45 years45 years and above
Sum Assured multiple (Min)Top-Up Amount X 1.25Top Up Amount X 1.10
Sum Assured multiple (Max)Top Up Amount X 5Top Up Amount X 5

Fund Switching

Aegon Assure Plus Plan provides policyholders with 4 free fund switches each year. However, no switching is allowed if an investor chooses to invest in the NAV Protector Fund.

Partial Withdrawal

Like most other ULIP plans from Aegon Life Insurance Company, this plan too allows policyholders to make partial withdrawals after the completion of 5 successful policy years. Rs.5000 is the minimum allowed amount for partial withdrawals. And the maximum allowed amount is 20% of the Fund Value at the start of each policy year. However, in this case, the Fund Value should not be less than 20% of the single premium after partial withdrawal.

Special Units

This plan provides policyholders with special units depending upon the Single Premium Amount.

Single PremiumRate of Special Unit
Rs 30,000-49,9990%
Rs 50,000-99,9992.20%
Rs 1,00,000 or more3.20%

Plan Benefits

Aegon Assure Plus Plan offers a wealth of benefits to ensure maximum benefits for the policyholders. Here is a little list of just some of the many benefits available under this plan:

Death Benefit

In the event of the death of the policyholder during the term of the plan, the designated nominee of the policy is paid the death benefit which is higher of the Special Fund Value/Fund Value or the Sum Assured. After the death benefit is paid out, the policy terminates. In addition, death benefit paid to the nominees under this plan is completely tax-free under section 10(10D) of the Indian Income Tax Act.

Maturity Benefit

Upon maturity of the policy, the life insured is paid the maturity benefit which is the Special Fund Value or the Fund Value. Once the maturity benefits are paid, the policy terminates. Maturity benefits paid under this plan are completely tax-free under Section 10(10D) of the Income Tax Act.

Income Tax Benefit

Since Aegon Assure Plus ULIP Plan is a life insurance plan, the premium payments made towards the policy for up to Rs.150000 are tax exempt under Section 80C of the Indian Income Tax Act.

Aegon Life iMaximize Plan

Aegon Life iMaximize Plan is yet another popular and bestselling ULIP plan offered by Aegon Life Insurance Company. This is an innovative ULIP plan that is available with absolutely no (zero) Premium Allocation Charges. Since there is no premium allocation charge, this ULIP plan from Aegon Life Insurance Company remains the most cost-efficient. In addition, this amazing Aegon ULIP plan can be easily bought online which makes it one of the best investment-insurance products for investors of all risk appetite and wealth creation objectives.

Key Highlights

1: Aegon Life iMaximize Plan is the best ULIP plan with zero Premium Allocation Charges.
2: Top-up premium payments made towards the policy also doesn’t attract any premium allocation charges.
3: The plan adds special units from the 12th year onwards till policy matures.
4: The plan allows investors to choose from 2 different investment funds.
5: The plan allows 4 free switches each policy year.

Eligibility Details

MinimumMaximum
Entry Age18 years60 years
Maturity Age75 years
Policy Term15/20/25 years
Premium AmountRs.24000

 

No limit
Sum AssuredFor age< 45 years

Higher of 10 x Yearly Premium or 0.5 x Policy Term x Yearly Premium

 

For age> 45 years

Higher of 7 x Yearly Premium or 0.25 x Policy Term x Yearly Premium

 

 30 x Yearly Premium.

(One may also choose 15/20/25 times the yearly premium)

 

 

Premium Payment TermEqual to policy term

Eligibility Criteria – Single Premium Policies

 MinimumMaximum
Sum AssuredFor age< 45 years

Higher of 10 x yearly premium or 0.5 x Policy Term x yearly premium

 

For age> 45 years

Higher of 7 x Yearly Premium or 0.25 x Policy Term x Yearly Premium

1.25 x Single Premium

 

 

 

 

 

1.10 x Single Premium

Premium Payment Term (in years)Single
Lock-in period5 years
Entry Age of Policyholder7 years
Single Premium5 Years (For premiums Rs.50,000-69,000)

10 Years (For premiums Rs.70,000-1,24,000)

25 Years (For premiums more than Rs.1,25,000)

Top-up premiumRs.10,000No Limit

Key Features

Aegon Life iMaximize Plan comes packed with tons of features to ensure maximum returns on investment for the investors. Here is a little smattering on just some of the many features under the plan:

Special Units

The plan adds special units to an investor’s chosen funds after the 12th policy year till the maturity of the policy. Special units are calculated as 0.45% of the average fund value in the last 12 months.

Investment Strategies

Aegon iMaximize ULIP Plan has 3 investment fund options – Accelerator Fund, Stable Fund and Secure Fund.

Trigger Portfolio Strategy

The premium payments made towards this plan are invested in the equity-oriented Accelerator Fund. As soon as the fund value becomes 110% of the total premiums paid, the excess amount is moved to the debt-oriented Secure Fund.

Top-up Premium

This plan allows investors to make top-up premium payment after the completion of one successful policy year. Here it is important to understand that top-up payments are not allowed in the last 5 years of the policy. The minimum top-up payment allowed under this plan is Rs.10000.

Premium Re-direction

Aegon iMaximize ULIP Plan allows policyholders to redirect their future premium towards the fund of their choice, without having to worry about the premium allocation charges.

Plan Benefits

Aegon iMaximize ULIP Plan offers a host of benefit to ensure maximum benefits for the policyholders. Let’s look at just some of the many benefits of this ULIP plan:

Death Benefit

For Single Premium payment, the death benefit is equal to the higher of the Sum Assured or the total Fund Value.

In case of regular premium payment, policyholders have 2 options for death benefit.

Option 1:  Sum Assured or 105% of premiums payments till date, whichever is higher.

Option 2: Sum Assured or 105% of the premium payments till date, whichever is higher. In addition, all regular premiums due are paid by Aegon Life Insurance Company. This is called premium Continuance Benefit. In addition, the yearly premium is paid to the designated nominee of the policy at the beginning of each policy year. This is termed as Income Benefit.

Death benefit paid under the plan is tax exempt under Section 10(10D) of the Indian Income Tax Act.

Maturity Benefit

Upon maturity of the policy, the policyholder is paid the total Fund Value as the maturity benefit.

Income Tax Benefit

The premium payment made towards the policy are liable for tax exemption for up to Rs.150000 under Section 80C of the Indian Income Tax Act.

Applying for a Unit Linked Plan

Aegon Life ULIP plans can easily be purchased both offline and online. The easy availability of Aegon Life ULIP plans makes them such popular amongst investors looking to invest their hard-earned money to reap the maximum benefits.

Applying for Aegon Life ULIPs Online

All Aegon Life ULIP plans are available for purchase at the official website of Aegon Life Insurance Company. Aegon’s website presents these plans with detailed information, product brochures, and easy illustration of charges involved. Those looking to buy Aegon Life ULIP plans may easily log on to company’s official website, fill up an application form and purchase a ULIP plan of their choice by credit card, debit card, netbanking or online wallets.

Applying for Aegon Life ULIPs through Intermediaries

In addition to the easy online availability, most Aegon Life ULIP plans are also available offline. Not-so-tech-savvy insurance seekers may get in touch with an intermediary such as an agent, bank or broker to purchase an Aegon ULIP plan offline by filling up a physical application form.

Things to Know Before Buying Aegon Life ULIP Plans:

It makes sense to get to know a few important things before buying Aegon Life ULIP plans to ensure that the chosen plan is the best option available when it comes to realizing the wealth creation objectives and generate fairly higher returns on investment. Here are just 5 most important things you must keep in mind when buying Aegon Life ULIP plans:

1: Choose an Aegon ULIP plan according to your wealth creation objective. Carefully consider why exactly do you want to invest in the intended Aegon Life ULIP plan – do you want to build a huge retirement corpus, are you trying to amass some cash for your child’s higher education or are you looking to save some money for your children’s marriage? Do the maths and find out the amount of money you’ll need to meet your future expenses. Now, depending upon the amount of money you’ll need to meet your future expenses, select one of the many Aegon Life ULIP plans.

2: Now that you know your future expenses, it’s time to decide the amount of risk you’re willing to take in order to reach your financial goals. Do you wish to go conservative with low risk investments or are you willing to take higher risks for higher returns? Think over it carefully and then select the plan that offers you investment funds according to your risk appetite.

3: How long do you want to stay invested? Think over the approximate time-frame you want your money to be invested in the equity-debt market and then carefully choose an Aegon Life ULIP plan that can best aligns with your wealth creation objectives.

4: Check the past performance of the investment funds before buying an Aegon Life ULIP Plan. Carefully compare the performance of different investment funds under different Aegon ULIP plans to see which one of the investment funds has been performing consistently performing in terms of higher and safe returns for at least last 5 years.

5: Does your intended Aegon Life ULIP plan offer a special fund value? Look for Aegon Life ULIP plans that offer special fund value because it will help you maximize your returns on investments rather quickly and effortlessly.

Don’t forget to check for the premium amount, charges, key features and benefits of the Aegon Life ULIP plan that you intend to buy. Read through the fine prints to get acquainted with the limitations and drawbacks of the plan that you intend to buy.

Eligibility Criteria to Buy Aegon Life Term Insurance Plans

Listed below are the eligibility conditions for buying Aegon Life ULIP plans. Let’s have a look:

1: Entry age (mentioned in the policy documents).
2: Maximum age.
3: Premium payment term and mode.

Documents Required to Buy Aegon Life ULIP Plans

Here is a list of documents required to purchase Aegon Life ULIP plans:

1: Address proof –Driving License, Aadhar Card, Voter’s Card, Passport
2: Identity proof – PAN card, Voter’s Card, Aadhar Card
3: Income proof – Salary slips, bank statement, Income tax returns
4: Age proof – Driver’s license, voting card, Aadhar card, passport

Aegon Life ULIP Plans- FAQs

Question 1: How to make payments and change payment mode for Aegon Life ULIP plans?

Answer: There are different modes of payments available for Aegon Life ULIP plans. Some of the most popular ways of making payments for Aegon Life ULIP plans are:

1: Cash/Cheque
2: ECS
3: NEFT
4: Credit/Debit Card Auto Debit
5: Debit Card

It is fairly easy to change the payment mode of Aegon Life ULIP plans. Here are the steps to change the payment mode:

1:
Enter policy details.
2: Select bank account/debit/credit card
3: Authenticate the details with one-time password

Question 2: How can one check Aegon Life ULIP policy status online?

Answer: In order to check Aegon Life ULIP policy status online, policyholders must visit the official website of Aegon Life Insurance Company and login to their accounts.

Question 3: How to renew Aegon Life ULIP plans?

Answer: Here is how one can renew Aegon Life ULIP plans:

1: Visit Aegon’s Life Insurance Company’s official website.
2: Login with customer ID and password.
3: Select the policy due for renewal from the drop-down menu.
4: Click on ‘Pay Renewal Premium Now.’
5: Select the payment mode
6: Authenticate the payment to make successful payment.
7: Do take a print of the payment receipt

Question 4: Are Rider Options Available with Aegon ULIP plans?

Answer: Not all Aegon Life ULIP plans offer rider benefits to the policyholders. Some of the many plans that have rider benefit available are:
1:  Aegon Life Future Protect Plus
2: Aegon Life Future Protect Plan
3:Aegon Assure Plan

Question 5: How can one cancel Aegon Life ULIP plan?

Answer: It is easy to cancel Aegon Life ULIP plan. In order to do so, policyholders need to fill up a surrender form, add all required documents and submit it in one of their nearest Aegon Life Insurance branches.

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