Aegon Life Jeevan Riddhi Insurance Plan

It is a Non-Linked Participating Endowment Life Insurance Plan. If you are looking for a savings plus protection plan which will give an extra boost to your savings, this plan is for you. Aegon Life’s Jeevan Riddhi Insurance Plan gives you 5% guaranteed additions on Sum Assured during the premium payment term. Moreover, your family is covered for any unfortunate event and you also get a share in the performance of the product through the regular bonus.

Key Features

  • Increase in benefit amount every year by bonus accrual, if any
  • Loan available for meeting unplanned financial requirements
  • Inbuilt Accidental Death benefit equal to 50% of Sum Assured
  • Option of premium waiver upon Disability

Benefits

  • Maturity Benefit
On Survival till the end of the Policy Term and provided all due Premiums have been paid, the following amounts will be paid
1) Sum Assured, plus
2) Accrued Guaranteed Additions, plus
3) Accrued Reversionary Bonus (if any),
4) Terminal Bonus, if any
  • Death Benefit
In case of unfortunate demise of the Life Assured during the Policy Term, provided all due Premiums have been paid, the nominee will receive the following
1) Sum Assured on Death, plus
2) Accrued Guaranteed Additions, plus
3) Accrued Reversionary Bonus (if any), plus
4) Terminal Bonus, (if any).
The total death benefit payable will be subject to a minimum of 105% of the premiums paid till death.
  • 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 18 years 55 years last birthday for Limited pay option 60 years last birthday for Single Pay option
MATURITY AGE - 70 years last birthday
SUM ASSURED Will depend on the age of the Life Assured, Premium Payment Term opted and the Annualized Premium amount.
PREMIUM PAYMENT TERM Single pay/ policy term
POLICY TERM 12 years for limited pay policy 10 years for single pay policy 20 years for limited pay policy 10 years for single pay policy
PAYMENT MODE Yearly, Half-yearly, Monthly

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

  • 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.