Aegon Life Rural Term Insurance Plan

• Financial security at nominal premium charge
• 50 times of the single premium payable as death benefit
• Single premium term plan
• Simplified policy issuance
• N pre issuance medical tests
• Fixed policy term of 5 years
• Tax benefit as per prevailing tax laws

Death Benefit

On the death of any of the members of the policy, the guaranteed sum assured is payable to the family of the deceased.

Maturity Benefit

It is a pure protection plan and no maturity benefits are payable.

Surrender Benefit

The policy will acquire a surrender value after completion of one policy year.The surrender value will be calculated as: 70% X Single Premium paid X (Outstanding coverage term in months / Total coverage term in months) The policy will terminate on payment of the surrender value.

No rider is available under this plan.

Let us understand it with an example.
Ram takes Aegon Life’s Rural Term Insurance Plan with a single premium of Rs 500. The sum assured will be 50 times of the single premium i.e Rs Rs 25,000. The policy term is fixed for 5 years.In case Ram dies during the policy term, Rs 25,000 will be paid to his nominee, and if he survives the policy term, nothing is payable on maturity.The plan terminates thereafter.