Aegon Religare Increasing Term Plan

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	Objective		This plan increases the insurance protection every year by 5 per cent, on renewal.
What does it do?		This policy allows for an automatic increase in the sum assured by 5 per cent on each annual renewal, till the amount payable is twice the basic sum assured.
Pros		One can take this policy till 75 years of age. This is an affordable policy with minimum annual premium being as low as Rs 2,000. There are two optional riders which can cover accident related risks and critical illness.
Cons		Critical illness rider is not available on single premium policies
Suited for		This plan can be taken by those who see bigger responsibilities at a later age. Also, one can take a increasing life cover to beat inflation.
Our View		The annual increase in sum assured increases life cover without increasing the premium.
Eligibility
Entry Age (years)
Minimum		18
Maximum		55
Maximum Maturity Age (years)		75
Policy Term (years)
Minimum		10
Maximum		30
Sum Assured (Rs)
Minimum		500000
Maximum		No limit
Minimum Premium (Rs)
Yearly		2000
Single		10000
Premium Payment Frequency		Single, Yearly, Half-yearly, Quarterly, Monthly (via ECS only)
Premium Payment Term		Single or equal to policy tenure
Premium Factor (multiply with annual premium)		Half Yearly: 0.512 times annual premium; Quarterly: 0.259 time annual premium; Monthly (through ECS only): 0.087 time annual premium
Policy Cover		Increases at 5% every year
Other Features
Free Look Cancellation		In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period		You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy Reinstatement		You can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any.
Tax Benefits		Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for AEGON Religare Critical Illness Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961.
Exclusions		In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit.
Customer Service
Address		AEGON Religare Life Insurance Company Limited, Nomura B-wing, First Floor, Unit 102 Near D-mart, Hiranandani Business Park, Hiranandani Gardens, Powai, Mumbai 400 076
Mail To		customer.care@aegonreligare.com
Call On		1800 209 9090 between 8:30 am to 8:30 pm
Additions to the Plan
Available Rider(s)		Aegon Religare ADDD Rider Death due to an accident Accidental dismemberment (loss of limbs and/or eye(s) Permanent total disability due to an accident Aegon Religare Critical illness Rider This rider covers 9 critical illnesses namely: Cancer (malignant) including Leukemia, Coronary Artery Bypass surgery, Heart Attack, kidney failure, stroke, major organ transplantation, paralysis, heart valve surgery, surgery for disease of the aorta.
Rider Conditions
Entry Age (years)
Minimum		18
Maximum		55
Maximum Maturity Age (years)		65
Rider Term (years)
Minimum		10
Maximum		30
Sum Assured (Rs)
Maximum		Lower of Base plan insurance or 25 lakh
Rider Premium (Rs)		Premium for ADDB Rider should be <=30% of base plan premium and <=100% of base plan premium available only with annual premium option under Critical Illness Rider. Rider premiums vary for each policyholder. For instance, if a 25-year old opts for the ADDD rider and critical illness rider for Rs 5 lakh sum assured over a 10 year tenure; the annual ADDB rider premium works to Rs 675 or Rs 4,460 in case of a single premium plan and the annual critical illness rider premium works to Rs 560.

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