Aegon Life IInvest Insurance Plan

• No premium allocation charge
• Limited/Regular premium payment option
• Loyalty units to boost your fund value
• 6 investment fund options
• Choice of 2 portfolio strategies
• Dual benefit of insurance plus investment
• Fund Value as maturity benefit
• Liquidity through partial withdrawals
• Easy online buying process
• Tax benefits as per prevailing laws

This policy offers 6 investment funds and you have the option to invest in any one or combination of fund options.

• Blue Chip Equity Fund
• Accelerator Fund
• Opportunity Fund
• Stable Fund
• Secure Fund
• Debt Fund

You have the option to choose from 2 portfolio strategies.

Self Managed Portfolio Strategy: Under this fund management strategy, you have the option to invest in any of the five investment funds available in any proportion.

Lifestyle Portfolio Strategy: This fund management strategy addresses your investment needs and objectives, as per your changing life stage. It provides you with the right mix between Equity and Debt, depending on the duration of your investment.

Switching from Lifestyle Portfolio Strategy to Self Managed Portfolio Strategy is allowed anytime during the Policy Term and it is free of charge. Switching from Self Managed Portfolio Strategy to Lifestyle Portfolio Strategy is allowed once every Policy Year, except during the last 12 Policy years and it is also free of charge.

Death Benefit

In the event of death of the life assured while the policy is in-force, the Death Benefit payable is higher of Total Sum assured on Death, Total Fund Value or 105% of all premiums paid. Total Sum assured on Death is equal to sum of Base Sum Assured on death and Top-Up Sum Assured on death. Total Fund Value is equal to sum of Base Fund Value and Top-Up Fund Value.

Sum Assured is deducted to the extent of partial withdrawals:

Up to the age of less than 60 years of the life insured, Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death. On attaining 60 years of age, Sum Assured is reduced to the extent of Partial Withdrawals made within two years before attaining age 60 and all Partial Withdrawals made after attaining 60 years of age are adjusted to determine the actual sum assured payable on death.

Maturity Benefit

On survival of the life insured till the end of the policy term, the Total Fund Value is payable on the maturity date. You can receive this benefit as a lump sum or structured payout by using ‘Settlement Option’.

Settlement Option

On maturity, you can opt to receive your money in installments over a maximum period of 5 years, after the date of maturity. It provides you an option to remain invested in the funds.

Loyalty Units

Loyalty Units Addition as 1.70%/1.80% for premium payment term of 5 or 7 years/10 years or equal to policy term. Each loyalty unit addition is expressed as a percentage of the average Base Fund Value on the preceding 48 monthly anniversaries of your policy. You are eligible for loyalty units addition in the last 5 policy years, in case you opt for 15/20/25 years policy term and all due premiums have been paid in full.

Top-up Premium

A top-up premium is an additional amount of premium over and above the basic premiums. Facility for Top-up Premium is available through the entire policy term, except the last 5 policy years. The minimum amount of top-up premium allowed is Rs 5,000. The total top-up premium should not exceed the total of premiums paid at that point of time. Payment of top-up premium enhances your insurance cover.

Switching

Switching can be done among 5 available fund options to suit your changing investment needs. This facility is available, when opted for Self Managed Portfolio Strategy.

Premium Re-direction

Premium Re-direction facility is available to alter future premium allocation and it will apply to your subsequent premiums. This facility is available, when opted for Self Managed Portfolio Strategy.

Partial Withdrawal

Partial Withdrawal is allowed from 6^th policy year onwards (in case of minor lives, the life assured attains 18 years). The maximum partial withdrawal allowed in a policy year is up to 20% of the fund value at the beginning of that policy year. The minimum amount of any partial withdrawal is not less than Rs 5,000. The fund value required after each withdrawal should be an amount equal to 2 years’ Annualized premium.

Bonus

This plan is not eligible for the bonuses, as it is a non-participating insurance plan.

Loan Benefit

No loan benefit can be availed under this plan.

Surrender Value

Upon surrendering the policy with-in the lock-in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the ‘Discontinued Policy Fund’ and it is refunded upon completion of the lock-in period. The applicable fund management charge of the Discontinued Policy Fund is levied. The proceeds after addition of minimum guaranteed interest rate of 4% p.a or as stipulated by IRDAI is payable after the end of the lock-in period.

Upon surrendering the policy after the lock-in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

No rider can be opted under this plan.

Premium Allocation Charges: No premium allocation charge is levied.

Policy Administration Charge: For the 1^st policy year, the Policy administration charge is 0.2% of annualized premium, subject to a minimum of Rs 80 per month and a maximum of Rs 200 per month. This charge increases @5% p.a compounded from the 2^nd policy year, subject to a maximum of Rs 500 per month.

Mortality Charges: Mortality charge depends on age and Sum at Risk and it is applicable for providing you with the risk cover.

Fund Management Charges: Fund management charge levied is a percentage of the Fund Value. It is 1.35% p.a. for Stable Fund, Accelerator Fund & Blue Chip Equity Fund, 1.10% p.a for Debt Fund, 1% p.a for Secure Fund, 0.50% p.a for Discontinued Policy Fund.

Switching Charge: Switching up to 4 times in a policy year is allowed free of charge. The subsequent switches in the same policy year is charged @0.1% of amount switched, subject to a maximum of Rs 200.

Premium Re-direction: You can avail 2 free premium re-directions in a policy year. A charge of Rs 100 is levied per redirection request when opted for more than free premium redirection request available in the same policy year.

Partial Withdrawal Charge: 4 free partial withdrawals are allowed during a policy year. The subsequent withdrawals in the same policy year is charged at Rs 200. The switching/premium redirection/partial withdrawal charges may be revised upon prior approval from IRDAI, but up to a cap of Rs 500.

Discontinuance Charge: This charge is levied, in case the policy is discontinued during the first 4 policy years. This charge is levied as applicable under the policy terms & conditions. For more details, please refer the policy brochure.

Taxes: The charges mentioned under this plan are subject to applicable tax and cess, as applicable.

Tax benefits can be availed under section 80C & 10 (10D) under the Income Tax Act, subject to change in tax laws.

Mr. Kumar aged 30 years, is leading a happy life with his wife ananya and a daughter sanya. He wants to build a corpus amount, so his family can achieve their dreams such as sanya’s education, her marriage, etc. He also wants to ensure financial security of the family, in case of a mishap. He thus opts for Aegon Life iInvest Insurance Plan with the policy term of 20 years, premium payment term of 20 years, annual premium of Rs 50,000 and sum assured of Rs 5,00,000.

Scenario A- Maturity Benefit: In case of his survival till maturity of the policy, the Total Fund Value is payable on the maturity date. You can receive this benefit as a lump sum or structured payout by using ‘Settlement Option’.
 

Scenario B- Death Benefit: In the event of his death at the end of the 1^st policy year, the Death Benefit payable is higher of Total Sum assured on Death, Total Fund Value or 105% of all premiums paid.
 

Scenario C- Partial Withdrawal Benefit: Mr. Kumar makes a partial withdrawal at the end of the 10^th policy year, the applicable fund value is payable as the partial withdrawal amount plus the fund value is payable at maturity of the policy.