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Aegon Life iMaximize Insurance
Plan is an investment plus insurance plan to secure your child’s education and
future. Aegon Life iMaximize Insurance Plan is an online ULIP plan with ZERO premium
allocation charge. That feature makes this policy unique and one of the most cost-efficient unit
linked insurance plans. In this post, let's take a look at the features
& benefits of Aegon Life iMaximize Insurance Plan.
Aegon Life iMaximize Insurance Plan
Aegon Life Insurance promotes
Aegon Life iMaximize Insurance Plan with the tagline, “NON-STOP PROTECTION FOR
YOUR LOVED ONES”. The policy has many exciting features and benefits. It provides
you the option for opting the death benefit suitable for you. It comes with a partial
withdrawal facility that gives you the option to withdraw money from your fund value.
The policy can be bought online, and the purchase process is very easy.
What is a ULIP?
A ULIP (Unit Linked Insurance
Plan) is a product offered by insurance companies that give investors the benefits of both insurance and investment under
a single integrated plan. ULIP is a popular financial instrument among
investors due to the advantage of insurance cover along with options to choose
investment avenue.
Key Features of Aegon Life iMaximize Insurance Plan
1. Aegon Life iMaximize
Insurance Plan is an online ULIP plan.
2. No premium allocation
charge under this plan.
3. The plan has short pay
options of 5 pay or 7 pay.
4. You can choose from 6 Unit
linked funds as per your investment objective.
5. Choice of two death benefit
options.
6. You can boost your fund value
through periodic top-ups.
7. Switch your invested
premiums from one fund to another.
8. Withdraw 20% of your
investment after 5 years whenever the need arises.
Benefits of Aegon Life iMaximize Insurance Plan
1. Death Benefits: There are two
options available to the nominee in case of death of the policyholder.
Benefit Option 1: The nominee
receives highest of sum assured or fund value or 105% of all the premiums paid in
case of an unfortunate demise of the life assured. In case a Top-Up fund
exists, higher of top-up sum assured or top-up fund value will also be paid.
The policy terminates thereafter.
Benefit Option 2: The nominee
receives the following benefit in case of an unfortunate demise of the life assured
during the term of the policy.
a) Higher of sum assured or
105% of all premiums paid is immediately paid. b) All the future premiums will
cease.
c) The beneficiary will be
paid an amount equal to the annualized premium
at the start of every policy year following the date of death till the end of the policy term.
d) Total fund value as on the
date of intimation of the death of the life assured will be reallocated to the secure fund. At the end of the policy term, the
total fund value will be paid to the beneficiary.
2. Maturity Benefits: You
receive the total fund value as on the maturity date.
3. Liquidity through Partial Withdrawal: You may need money to fulfill certain urgent goals during the policy term. The partial withdrawal facility that gives you the option to withdraw money from your fund value after first 5 policy years. The maximum amount of partial withdrawal that you can withdraw in any policy year is 20% of the fund value at the beginning of that policy year. You can make up to 4 partial withdrawals in each policy year free of charge.
4. Tax Benefits: The premiums paid and benefits received are eligible for tax benefits under Sec 80C and 10(10D) of the IT Act, 1961.
Eligibility for Aegon Life iMaximize Insurance Plan
* The risk cover will start
immediately upon commencement of the Policy
Investment Funds available under Aegon Life iMaximize Insurance Plan
You can choose to invest in
any of the six investment funds available in any proportion as per your investment
objective.
1. Blue Chip Equity Fund
2. Accelerator Fund
3. Opportunity Fund
4. Stable Fund
5. Secure Fund
6. Debt Fund
How to apply for Aegon Life iMaximize Insurance Plan?
Follow the below mentioned simple
steps to apply for Aegon Life iMaximize Insurance Plan online
1. In first step, just choose
the policy term and the premium payment term of your policy.
2. Here you need to decide on
the annual premium you want to pay.
3. Choose you sum assured as
per the amount of insurance cover you need.
4. Invest your premium in
choicest of six investment funds available in any proportion.
Availability
of loan
under this plan
Aegon Life iMaximize Insurance
Plan does not offer a loan.
Click here to know more about this plan.
Also read: HDFC Life Click2Invest ULIP Plan
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