Aegon Life Insta Pension Plan

This is a non-linked, non-participating single premium immediate annuity plan. It pays the policy holder a continuous income, post retirement, for the rest of their life. So that they maintain their current lifestyle even after retirement and live the way they always have – without compromise.

Key Features

  • Choose any one of the two available annuity payout options
  • The policy holder can decide the amount of premium (lump sum amount) they want to pay to purchase the Annuity Plan
  • As soon as you purchase an annuity plan, you start getting a regular income in the form of an annuity

Benefits

  • Lifetime Income
Depending on the annuity payout option that you choose, the Aegon Life Insta Pension Plan provides you and your spouse an income for life.
  • Annuity Payout Options
You have the choice to select from any of the following Annuity Payout Options.
1) Life Annuity - If you choose the Life Annuity option, you will receive your annuity payment at a constant rate for as long as you live.
2) Joint Life Annuity - In this option, an annuity is paid to you at a constant rate for your entire life. In case of your unfortunate demise, the annuity payment will continue to be paid to your spouse, till the spouse is alive
  • Tax benefit
The Premium(s) paid by you are eligible for tax benefit available under the provisions of Section(s) 80C, 80 CCC (1), 80D, 10(10D) as applicable.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 50 years 75 years
PREMIUM AMOUNT Rs.1,00,000 No limit
POLICY TERM 10 years

What if?

I am unable to pay on time

  • A grace period is provided based on the payment frequency. The policy is continued if you make the payment within the time period else the policy is lapsed.

I stop the payment

  • On the completion of the grace period the policy will get lapsed and the benefits cannot be claimed on the death of the life insured.

I wish to take a loan

  • No loan options are available for this policy

Exclusions

Suicide Benefit

  • In case of death of the Life Assured due to suicide within 12 months from the date of commencement of risk or from the date of revival of the policy, the nominee or beneficiary shall be entitled to the Fund Value, as available on the date of death. Any charges recovered subsequent to the date of death of the Life Assured shall be paid-back to the nominee or beneficiary along with the death benefit.