Bandhan Religare Assured Returns Plan

AEGON Religare Assured Returns Plan is an Endowment Plan without Bonus facility. It is a Traditional non-participating Plan.

Tenure Flexibility

in-patient-hospitalisation-overview icon

Maturity Benefit

Assured Return

Compare this plan with other Investment Plans

Full Name

Mobile Number

By clicking “Show Returns”, I authorize MyInsuranceClub to Call/Message & agree to Terms of Use

Key Features

This is an endowment plan without bonus facility

Tenure Flexibility

The Policy Tenure that can be chosen is either 7 or 10 years

Premium needs to be paid for the entire policy tenure

Assured Returns

Assured Returns of 150% of the Annualized Premium for Policy Tenure of 7 years or 175% of the Annualized Premium for Policy Tenure of 10 years would be payable every year

Policy Tenure

Assured Returns are paid from the end of the Policy Tenure for an equal number of years as the Policy Tenure

Maturity Benefit

If the Life Insured dies within the Policy Tenure, future premiums are waived and the Maturity Benefit is payable as per schedule

Benefits

Death Benefit

In case of death of the Life Insured within the Policy Tenure, the future premiums are waived and the nominee gets the Maturity Benefit, as per schedule every year from the end of the Policy Tenure.

Maturity Benefit

On survival till the end of the policy tenure, the policyholder gets 150% of the Annualized Premium for Policy Tenure of 7 years or 175% of the Annualized Premium for Policy Tenure of 10 years would be payable every year. This would be payable every year for a period equal to the Policy Tenure.

End of the Policy Year	Policy Tenure of 7 years, % of Annual Premium payable	Policy Tenure of 10 years, % of Annual Premium payable
8^th year	150%	-
9^th year	150%	-
10^th year	150%	-
11^th year	150%	175%
12^th year	150%	175%
13^th year	150%	175%
14^th year	150%	175%
15^th year	-	175%
16^th year	-	175%
17^th year	-	175%
18^th year	-	175%
19^th year	-	175%
20^th year	-	175%

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.

How it works

In this plan, premium needs to be paid till the end of the Policy Tenure of 7 years or 10 years as selected. However, once the Policy Tenure is over, there is a Guaranteed Return of 150% of the Annualized Premium from the end of the next policy year onwards for a Policy Tenure of 7 years and 175% of the Annualized Premium for a Policy Tenure of 10 years for equal number of years as the Policy Tenure.

Thus, if we understand it with an example of Annual Premium of Rs. 1,00,000 (plus taxes).

Policy Tenure of 7 years:

Annual Premium Payable for 7 Years= Rs 1,00,000

Assured Payout would be Rs 1,50,000 from the end of the 8^th year onwards for another 7 years, i.e. from the end of the 8^th year from Policy Inception to end of 14^th year

Policy Tenure of 10 years:

Annual Premium Payable for 10 Years= Rs 1,00,000

Assured Payout would be Rs 1,75,000 from the end of the 11^th year onwards for another 10 years, i.e. from the end of the 11^th year from Policy Inception to end of 20^th year.

The Payouts received is the Maturity Benefit in this plan which is staggered over 7 or 10 years after the end of the Policy Tenure.

However, if the Life Insured dies within the Policy tenure, all future premiums would be waived off and the nominee will receive the Maturity Benefit at the end of each year as per schedule. However, the nominee will also have an option to take the present value of the future payouts on death of the Life Assured or at any point in time during the Policy Term after the death of the Life Assured and terminate the plan. The benefit paid will be higher of total premiums paid by the policyholder before death or the present value of future payouts.

Eligibility

	Minimum	Maximum
Sum Assured (in Rs.)	Age < 45 years: 2,62,500 i.e. Minimum Annual Premium * Minimum Policy Term * 150% Age >=45 years: 4,20,000 i.e. Minimum Annual Premium * Minimum Policy Term * 150%	43,75,000 i.e. Maximum Annual Premium* Maximum Policy Term * 175%
Policy Term (in years)	7	10
Premium Payment Term (in years)	Equal to Policy Tenure
Payout Term (in years)	7	10
Entry Age of Life Insured (in years)	25	53 for Policy of 7 years 50 for Policy of 10 years
Age at Maturity (in years)	-	60
Premium (in Rs.)	For age 25 - 45 years, Rs 25,000 For age >45 years, Rs 40,000	2,50,000
Payment modes	Only Annual

FAQs

What happens if you stop paying the premium?

If the policy holder stops paying the premium, the policy lapses and all benefits cease. However, if at least the first two years premiums are paid, then the policy continues as a Paid-Up Policy with reduced benefits. The policy can however be reinstated within 2 policy years from the due date of the unpaid premium.

What happens if you want to surrender the policy?

There are Surrender Benefits after completion of 2 policy years.

The Surrender Value is calculated as (a Guaranteed Surrender Value Factor X Paid-Up Value).

What happens if you want a loan against your policy?

Loan facility is not available in this plan.