Mumbai, January 6, 2015: AEGON Religare Life Insurance (ARLI) today, announced the launch of two plans for its online platform – AEGON Religare iMaximize Insurance Plan - a unit-linked protection plan that is available as a single premium payment plan as well as a regular premium payment plan and AEGON Religare iReturn Insurance Plan - a return-of-premium term plan. Both the plans are available exclusively online and can be bought within 10-12 minutes by visiting http://buyonline.aegonreligare.com.
Speaking on the occasion of the launch of the two plans, Yateesh Srivastava, Chief Operating Officer of ARLI stated - “The online space continues to grow for the insurance sector with more and more customers turning to the Internet for either information or actual purchase. As pioneers in the online space the time is just right to expand our product portfolio with two new plans targeted at the ‘New Age’ consumer. The AEGON Religare iMaximize Insurance Plan is a Unit Linked Plan (ULIP) which has a 0% Premium Allocation Charge. The plan comes with a ‘triple-benefit’ option which pays out a lump sum in the case of death of the policy holder, an annual income benefit for the life of the policy and also pays all remaining premiums in order to ensure that corpus creation is not compromised. This makes it an ideal savings instruments for parents saving for their child’s future. Our other plan, AEGON Religare iReturn Insurance Plan is a return of premium term plan with an in-built terminal illness benefit and offers competitive premium rates. The plan offers term protection with a survival benefit, which is a return of 100% of the premium. For AEGON Religare introducing the two new online plans is a step towards creating a broader set of online offerings.”
The AEGON Religare iMaximize Insurance Plan is specially targeted at parents who are looking at safeguarding their child’s future. Some key benefits of this plan are:
1) It offers zero premium allocation charge. It thus invests 100% of the premium. Charges that apply are mortality charges, fund management charges and policy administration charges.
2) It offers a choice of policy term and premium payment term of single, limited or regular.
3) It offers three investment fund options, namely, Blue Chip Equity Fund, Secure Fund and Debt Fund.
4) It offers liquidity by way of partially withdrawing from the fund value after 5 policy years.
5) The premiums paid and benefits received are eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.
The AEGON Religare iReturn Insurance Plan is specially targeted at individuals who are looking for a term plan with a return of premium. Some of the key features of this plan are:
1) It offers a life cover that pays a lump sum on death and at the end of the policy term on survival, the premiums paid are returned.
2) It offers an in-built Terminal Illness Benefit that pays 25% of the base policy sum assured in case the life assured is diagnosed with a terminal illness. Moreover, it also waives off the future premium.
3) It offers additional protection by offering multiple riders like AEGON Religare AD (Accidental Death) Rider, AEGON Religare Critical Illness Rider, AEGON Religare Waiver Of Premium Rider and AEGON Religare Woman Critical Illness Rider.
4) The premiums paid and benefits received are eligible for tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.
About AEGON Religare Life Insurance Company
AEGON, an international provider of life insurance, pensions and asset management andReligare, India’s leading diversified financial services groups have come together to launch AEGON Religare Life Insurance Company Limited (ARLI). This venture is dedicated to build a customer-centric business and provide a work environment that fosters excellence and innovation. This joint venture adopts a local approach with the power of global expertise. ARLI launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better. The fulfillment of this vision is based upon having a complete product suite, providing customised advice and enhancing the overall customer experience. ARLI has launched a suite of products that are focused on providing the customer with the means to meeting their long-term financial goals. At the same time, product development has been founded on the tenet of providing the customer with great value. In 2014, the Indian Insurance Awards, honoured ARLI as the ‘E-Business Leader’, for the second year in a row, under the category of Overall Insurance Industry Awards.
AEGON’s roots go back more than 150 years – to the first half of the nineteenth century. Since then, it has grown into an international company, with businesses in more than 25 countries in the Americas, Europe and Asia. In the US, AEGON’s largest market, it operates under the Transamerica brand. Today, AEGON is one of the world’s leading financial services organizations, providing life insurance, pensions and asset management. AEGON never loses sight of its purpose to help its customers secure their long-term financial future. Its companies employ more than 27,500 people serving millions of customers around the world. In total, the company oversees EUR 503 billion in revenue-generating investments. The company’s shares are listed on two major stock markets: Amsterdam and New York. http://www.aegon.com
About Religare Enterprises Limited
Religare Enterprises Limited (REL) is one of India’s leading diversified financial services groups and offers an integrated suite of financial services including asset management, life and health insurance, lending, broking, investment banking, and wealth management. Religare Enterprises is headquartered in New Delhi and is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India. Religare is also building an Asia & emerging markets focused Institutional equities and Investment Banking business and a multi-boutique global asset management platform to tap the broader opportunities offered by the most promising emerging markets around the world. http://www.religare.com
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Tuesday, January 6, 2015