This plan is aimed at customers who are looking at a guaranteed addition to their savings for achieving their medium to long-term goals.
In keeping with AEGON Religare’s product philosophy of offering simple products, the AEGON Religare Premier Endowment Insurance Plan offers the customer a guaranteed addition of 5% of the sum assured, every year, during the premium payment term, according to a press release issued by the company.
Apart from offering a life cover for the entire policy term, it also offers an increase in the benefit amount, every year, by accrual of bonus that commences from the first year.
The Chief Distribution Officer of ARL, Amit Kumar Roy said “In today’s day and age, we often plan for goals that we aim at achieving in 10-20 years. It could be for a child’s further education or marriage or for enjoying the luxuries in life. AEGON Religare realized this need of the customer and offers AEGON Religare Premier Endowment Insurance Plan as a solution. This plan is a part of the endeavour to provide a solution for meeting a customer’s medium to long-term commitment by way of offering limited premium payment term and guaranteed additions along with the life cover.”
The AEGON Religare Premier Endowment Insurance Plan offers an option of choosing the policy term of 10, 15 or 20 years and premium payment term of either paying once or over 5, 10, 15 or 20 years. The minimum age to enter is 18 years, whereas the maximum is 55 years. The minimum annual premium payable under this plan depends on the selection of the policy term and the premium payment term.