Aegon Life I-Income Insurance Plan

• Lumpsum death benefit paid to the nominees
• Regular income benefits to meet family’s financial requirement
• Incremental Income Benefit to combat inflation
• Coverage of disability
• Enhanced protection by opting the riders
• Hassle free way of buying the plan online

Death Benefit

In the event of the demise of the life insured, the nominees receive 12 times of the monthly income benefit in the policy year of death will be paid as lump sum immediately.

Monthly Income Benefit

Monthly income benefit on death will start from the next monthly policy anniversary upto the end of the policy term or for a tenure of 60 months, whichever is later. Also, the monthly income benefit will increase by 5% p.a. on every policy anniversary upto the age of 59 years.

Partial & Permanent Disability Benefit

In case of Partial and Permanent Disability due to accident or sickness, all future premiums will be waived off. The monthly income for disability benefit will start from the next monthly policy anniversary upto the maturity of the policy or for a period of 60 months, whichever is later. The monthly income for disability benefit will increase by 5% p.a. on every policy anniversary upto the age of 59 years.

Tax Benefit

Under this plan, the premium payment is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled to the tax exemptions as per Section 10 (10D) of the Income Tax Act.

This plan offers one rider, which is Aegon Life WoP on CI Joint Life Rider which covers 4 critical illness conditions.

Let us understand the plan with the following example of Mr. Ramesh

Age: 30 years
Profession: Software Engineer
Family Details: His wife is a homemaker and they have a son Amol, who is 3 years old.

Ramesh opted for Aegon Life iIncomeInsurance Plan with Monthly Income Covered for: Rs.75,000, Policy Term: 30 years,Annual Premium: Rs.22,635/- (exclusive of service tax).