Compare Aegon Life Child Plans

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Aegon Life Insurance Company

Aegon Life Insurance Company Limited (formerly Aegon Religare Life Insurance Company Limited), an international provider of life insurance, pensions and asset management launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better through its term insurance, child plans, and pension plans.

Aegon Child Plans

Aegon Life Child Plans help your children to outshine their dreams by making a provision for every important milestone of their life. These plans make the future of your child financially secure by creating an umbrella for all future contingencies. If you wish to invest in equity markets without taking any risks of direct investments, then these child plans are your best companions.

List of Different Child Plans Offered By Aegon Life Insurance Co. Ltd., With Benefits, Eligibility And Available Riders

Aegon Life Rising Star Insurance Plan

A Unit Linked Insurance Cum Saving Plan For Child

Benefits:

  • In case of policyholder's death during policy period, benefits to nominee (child):
      • Sum assured or 105% of all premiums paid (whichever is higher)
      • All future premiums are waived off and paid by the company into the policy fund value, the policy continues.
      • Amount equal to the annualized premium is paid every year.
      • On maturity, lump sum i.e. Policy Fund Value will be paid.
  • In case policyholder survives the policy period, they will receive the fund value existing on the maturity date.
  • Facility of auto rebalancing of funds into various instruments.
  • Partial withdrawals are allowed.
  • Tax benefits under section 80C and 10 (10D) as per prevailing tax laws. Please consult your tax advisor for details.

Eligibility:

Minimum Annualized Premium (AP) Annual Mode: 20,000 p.a. | Other modes: 30,000 p.a.
Policy Term (years) 25 years less age at entry of the child in completed years
Premium Pay Term (years) Equal to the Policy Term
Base Policy Sum Assured (SA) Minimum
Age is less than 45 years Higher of 10 times of Regular Annualized Premium or (0.5 x Policy Term x Annualized Premium)
Age is greater than or equal to 45 years Higher of 7 times of Regular Annualized Premium or (0.25 x Policy Term x Annualized Premium)
Maximum
Age is less than 45 years 18 times of Annualized Premium
Age is greater than or equal to 45 years 10 times of Annualized Premium
Entry Age Parent (Life Assured)
Minimum 18 years
Maximum 48 years
Age of Life Assured Minimum Age of Child As On Last Birthday
Age = 40 Years 1 Day
Age Between 40-45 5 Years
Age Between 45-48 10 Years
Entry Age Child Maximum 15 years
Maturity Age Maximum 65 years
Premium Payment Frequency Yearly, Half-yearly, Monthly

This plan not only makes provision for your children’s future (maturity benefit) but also ensures that their future remains secured in case of your unfortunate death (death benefit + Premium Waiver Benefit + income benefit).

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