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 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.
A Unit Linked Insurance Cum Saving Plan For Child
|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)|
|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)|
|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).