AEGON Religare launches traditional plan

MUMBAI: Private insurer AEGON Religare Life Insurance (ARLI) today launched a traditional plan with guaranteed benefits -- Flexi Money Back Plus Insurance Plan.

"The investment climate remains uncertain and volatile. In such times customers seek shelter in products that provide guarantees. At the same time the money back component of the plan allows for a cash flow at regular and pre-determined intervals," company's Chief Marketing Officer and Head (Talent) Yateesh Srivastava said in a statement.

"In addition to the guaranteed returns customers can also look forward to an upside through accrued bonuses from the first year onward," he said.

In addition, the AEGON Religare Flexi Money Back Plus Insurance Plan offers extended life cover that goes beyond the premium payment term, rider that can be added to the plan, to provide extra cover in case of death due to an accident, bonus, guaranteed pay-outs, 40 per cent of the sum assured as maturity benefit at the end of the policy term.

The minimum entry age is 7 years and maximum age of entry is 60, 58 or 54 years, depending on the tenure.

The maximum age at maturity is 75 years and minimum sum assured is Rs 1,00,000 and the minimum annual premium is Rs 13,033.

ARLI is a joint venture between AEGON, an international life insurance, pension and investment company; Religare, a global financial services group; and Bennett, Coleman & Company.