(1888PressRelease)
December 12, 2008 - Hyderabad: AEGON Religare Life Insurance today announced the launch of AEGON Religare Guaranteed Return Plan. In today’s uncertain environment, the plan guarantees a return that is tax-free along with the added benefit of life cover, making it a very attractive investment product for those with a mid to long-term investment horizon.
The AEGON Religare Guaranteed Return Plan is a single premium plan that gives a fixed annual compounded return of 7.2%. The returns on maturity are tax-free and the plan comes with an added benefit of life cover – 5 times of the single premium paid. AEGON Religare Guaranteed Return Plan is available for a limited period starting December 1, 2008. The minimum single premium payable is Rs. 50,000/- and the maximum is Rs. 400,000/-. The plan is available in two maturities – 7 years and 10 years. Rs. 100,000/- invested in a 7 year maturity plan will provide a guaranteed return of Rs. 162,690/- tax-free, whereas the same amount invested in a 10 year maturity plan will provide a guaranteed return of Rs. 200,420/- tax-free. During the term of the policy the life cover [sum assured] will be 5 times the single premium paid. The policy requires no medical test and the minimum age at entry is 90 days and the maximum age at entry is 45 years.
Speaking on the launch of the Guaranteed Return Plan, Mr Rajiv Jamkhedkar, CEO, AEGON Religare Life Insurance said, “The current financial crisis has created a sense of uncertainty amongst consumers. With the stock market being highly volatile Investors at all levels are feeling the pressure on their investments and have seen substantial value erosion. In such a scenario, as part of our commitment to provide customers with innovative products, we have launched the AEGON Religare Guaranteed Return Plan which is an unbeatable combination of guaranteed tax-free returns along with life cover. Currently a lot of customers are sitting on cash and parking their money in bank Fixed Deposits. The AEGON Religare Guaranteed Return Plan is just the plan for them as it offers the highest tax-free return over these maturity values while providing investors with a life cover equivalent to 5 times the single premium paid.”
The AEGON Religare Guaranteed Return Plan can be bought by following just two simple steps. A customer just needs to choose the premium amount and decide the policy term. The customer does not need to undergo any medical tests. At the end of policy term, the person gets a guaranteed tax-free return compounded at 7.20% p.a. of the single premium amount paid. In case of death, the benefit payable to the nominee will be 5 times the single premium paid. In the highest tax bracket the guaranteed returns are equivalent to a pre-tax return of 10.90%.
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