GUARANTEED RETURNS GET A GRIP ON YOUR SAVINGS WITH - Guarantee On, Toh Tension Gone - Aegon Life
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POS GRIP GET A GRIP ON YOUR SAVINGS WITH GUARANTEED RETURNS Guarantee On, Toh Tension Gone. Aegon Life POS Guaranteed Return Insurance Plan (GRIP) – (UIN-138N076V02) A Non-Linked Non-Participating Life Insurance Plan
A. Are you concerned about: B. Would you agree that a Protection + SaXKPIU
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• Financial security of your family in case of your • Provide a guaranteed amount for the ƒPCPEKCN secu -
absence rity of your family in case something were to happen
to you
• Not getting the assured returns because of market
volatility • Provide a guaranteed amount on maturity to help
you secure your life goals
• Not knowing upfront the amount you will receive on
policy maturity • Have short premium commitment along with
flexible premium payment options
• Committing to a long premium payment duration,
which you may not be able to continue later • Be simple to understand
• Buying an insurance product which you are not able
to understand
C. Ke[$GPGƒVUQH#GIQP.Kfe POS Guaranteed
4GVWTP+PUWrance Plan:
)WCTCPVGGFDGPGƒVUQP Secure your life goals Guaranteed Additions Loyalty Booster
Death or Maturity with guaranteed maturity accrue at the end of payable at end of the
payout of 225% to 325% every year throughout Policy Term
of the Basic Sum Assured 1 the Policy Term
Pay premiums for a Option to choose a Policy Complete a short
limited term & enjoy Term and premium payment proposal form
RQNKE[DGPGƒVU options as per convenience and get insured
throughout the
Policy Term
TAX
No Medical Examination You may be eligible for
required for opting VCZDGPGƒVUQPRremiums
for this plan RCKFCPFDGPGƒVUreceived
as per prevailing tax laws
D. Working of the Plan:
Step 1 Choose the Annualised Premium and Policy Term / Premium Payment term combination
Step 2 Based on the chosen parameters and your age, the Basic Sum Assured, will be arrived at
On maturity, Basic Sum Assured plus Accrued Guaranteed Additions plus Loyalty Booster will be paid.
Step 3 On unfortunate event of death of life assured, Sum Assured on Death plus accrued Guaranteed Additions
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1
This depends on the Policy Term chosen subject to the policy remaining in-force and all due premiums have been paid..GV’UWPFGTUVCPFVJKURNCPYKVJCPGZCORNG
Mr Abhay (Age 35 years) opts for Aegon Life POS Guaranteed Return Insurance Plan. His plan details are:
• Basic Sum Assured: ₹251,411
• Policy Term: 20 years
• Premium Payment Term: 9 years
• Annualized Premium: ₹40,000
• Sum Assured on Death 2: ₹ 400,000
%CUG /T#DJa[UWrvivGUVJGEQORNGVGPolicy TGTOJGYKNNIGVVJGHQNNQYKPIQPOCVWTKVy
YJKNUVGPLoying life cover for the entire coverage period of 20 yGCTU
Pay ₹ 40,000 every year `
for 9 Years Basic Sum
Total Premiums paid ₹ 360,000 Assured (A)
= `251,411 Total Maturity Value
9 YEARS (A+B+C)
= `817,086
1 9 20 (325% of Basic SA)
`
Accrued Guaranteed Additions (B)
` Loyalty
= ₹502,822 (20 * 10% of Basic SA)
Booster (C)
= `62,853
(25% of Basic SA)
%CUG +PECUGQH/T#DJay’UFGCVJCVVJGUVCrt of the 16th Policy YearVJGDGNQYOGPVKQPGFDGPGƒV
YKNNDGRayable tQJKUPQOKPGGUWDLGEVto all due prGOKWOUWPFGTVJGRQNKE[DGKPIRCKF
Pay ₹40,000 every year Sum Assured
for 9 Years Death occurs on Death is paid
Total Premiums paid = ₹360,000 at the start of immediately (A) Thus, total Death
16th Policy Year = `4,00,000 $GPGƒVRC[QWVVQ
9 YEARS Mr Abhay’s nominee
Death
$GPGƒV (A+B) = ₹777,117
1 9
Accurued
Guaranteed
Additions (B)
= `377,117
(15 * 10% of Basic SA)
2
Subject to “Waiting Period” clause, as outlined later in this documentE. .GV’UEJGEMJQY#GIQP.Kfe POS GuarCPVGGF4GVWTP+PUWrCPEG2NCPHWNƒNNUCNNVJGETKVGTKC
for a Protection + SaXKPIU5QNWVKQP
Your Need How does AL POS Guaranteed Return
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Financial security to family in your absence • Life cover for the entire Policy Term
Securing life goals with guaranteed returns on • /CVWTKV[$GPGƒV)WCTCPVGGFWRHTQPV
policy maturity • No risk of market fluctuations
Knowing upfront the amount you will get on • )WCTCPVGGF/CVWTKV[$GPGƒV
policy maturity 1. Basic Sum Assured, Plus
2. Accrued Guaranteed Additions, Plus
3. Loyalty Booster
Short & flexible premium commitment • 2C[HQTCNKOKVGFVGTOCPFGPLQ[RQNKE[DGPGƒVU
throughout the Policy Term
• Pay your premiums Yearly / Half-yearly / Monthly
Easy to understand plan features • Guaranteed Maturity amount stated upfront at
policy inception
• )WCTCPVGGF&GCVJ$GPGƒVKURCKFKPECUGQHCP[
eventuality
6CZDGPGƒVU • You may be entitled to certain applicable Income Tax
DGPGƒVUWPFGTUGEVKQP % CPFUGEVKQP & QHVJG
Income Tax Act, 1961 (‘the Act’) on the premiums paid
CPFDGPGƒVUTGEGKXGFD[[QWTGURGEVKXGN[KPCEEQTFCPEG
with the prevailing tax laws. Please refer to Section G.3
for further details.
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Entry Age Minimum – 1 3 year last birthday
Maximum – 50 years last birthday
Maturity Age Minimum – 18 years last birthday
Maximum – 65 years last birthday
Policy Term 10 - 20 years
Premium Payment Term 5/7/9 years
Premium Minimum –
• ₹10,000 for yearly mode;
• ₹7,500 for half-yearly;
• ₹1,500 for monthly mode.
Maximum –
• ₹100,000 for yearly mode;
• ₹51,200 for half-yearly mode;
• ₹8,700 for monthly mode.
N.B. - The maximum annualised premium per life insured will be
capped to ₹100,000 for this product.
Premium Payment Mode 4 Yearly, Half-yearly and Monthly 5
3
Risk will commence immediately on issuance of policy.
4
The modal loadings for modes other than annual mode will be: Half-yearly Premium = Annualized Premium * 0.512 and
Monthly Premium = Annualized Premium * 0.087
5
Subject to our prevailing operational rules, it is required for Monthly Premium frequency to be taken with ECS/SI/NACHG. $GPGƒVU&GVCKNGF ))WCTCPVGGF#FFKVKQPU
Guaranteed Additions equal to 10% of the Basic Sum
Assured will accrue to your policy at the end of every
)/CVWTKV[$GPGƒV policy year during the Policy Term. The Guaranteed
You will receivGVJG)WCTCPVGGF/CVWTKV[$GPGƒVCVGPF Additions accrue at a simple rate every year and are
of the Policy Term, provided all due premiums have payable on death of the Life Assured or maturity/sur -
been paid and your policy is inforce. render of the Policy, as per the terms and conditions
)WCTCPVGGF/CVWTKV[$GPGƒV outlined. Guaranteed Additions will accrue only if the
1. Basic Sum Assured Plus policy is in force and all due premiums have been paid.
2. Accrued Guaranteed Additions Plus Please note the annual guaranteed additions of 10% of
3. Loyalty Booster the Basic Sum Assured do not reflect the actual
yield/return you will earn under the policy. For a better
)$CUKE5WO#UUWTGF understanding of the Yield/return you are expected to
The Basic Sum Assured will be calculated basis the earn in the Policy, please refer to the customised Bene -
Annualized Premium opted by you, your age at the time ƒV+NNWUVTCVKQPavailable at the point of sale.
of policy purchase, and the Policy Term / Premium
Payment Term selected. G.1.3 LoyCNV[$QQUVGT
A one-off Loyalty Booster equal to 25% of the Basic
Please note that the Basic Sum Assured is lower than
Sum Assured will accrue to your policy in full at the end
the total premiums paid and varies between 55% and
of the Policy Term.
85% of the total premiums paid depending on the age of
the Life Assured, Policy Term and Premium Paying Loyalty Booster is payable on death of the Life Assured
Term. or maturity/surrender of the Policy, as per the terms
and conditions outlined.
/CVWTKV[$GPGƒVYJKEJKUIWCTCPVGGFCUCRGTEGPVCIGQH$CUKE5WO#UUWTGF 6
PQNKE[Term 10 11 12 13 14 15 16 17 18 19 20
Guaranteed Maturity
$GPGƒVCUQH 225% 235% 245% 255% 265% 275% 285% 295% 305% 315% 325%
Basic Sum Assured
))WCTCPVGGF&GCVJ$GPGƒV G.3 TCZ$GPGƒVU
In the unfortunate event of death of Life Assured, ‘Sum
• You may be entitled to certain applicable Income
Assured on Death’ along with accrued Guaranteed
Tax DGPGƒVU under section 80(C) and section
Additions will be payable tQVJGDGPGƒEKCry.
10(10D) of the Income Tax Act, 1961 (‘the Act’) on
Sum AssurGFQP&GCVJKUFGƒPGFCUVJG*KIJGUVQH the premiums paid and DGPGƒVU received by you
respectively in accordance with the prevailing tax
1. Basic Sum Assured + Loyalty Booster, or laws. As per current provisions of Sec 194DA of the
2. 10 times of Annualized Premium 7, or Act, the policy proceeds are taxable, and subject to
TDS (Tax Deduction at Source), if conditions
3. 105% of total premiums received8 up to the prescribed under section 10(10D) are not met
date of death
• It is recommended that you obtain professional
The Policy will terminate on payment of the above
advice for applicability of Income Tax DGPGƒV on
DGPGƒV
premiums paid and DGPGƒVU received. Income Tax to
be deducted, if any, will be deducted at the
Waiting Period applicable rate from the payments made under the
policy
The product has a 90 day waiting period from the date • Goods & Services Tax, Cess (if any) and any other
of inception of the policy within which, if death occurs Statutory levy will be charged extra as per prevailing
(other than due to accident), the DGPGƒEKCry will receive rates
100% of the premiums paid till the date of death
(excluding any taxes). During this period the • Tax laws are subject to amendments from time to
)WCTCPVGGF&GCVJ$GPGƒVYKNNPQVDGRayable. time
6
Provided policy is in-force and all due premiums have been paid.
7
Annualized Premium is the policy premium amount payable in a year, chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra
premiums and loadings for modal premiums, if any.
8
Total Premiums means total of all Policy Premiums payable by You, excluding the taxes, rider premiums and underwriting extra premiums.date to pay the premium. In case of death during the
H #FFKVKQPCN(NGZKDKNKVKGU grace period, the death DGPGƒV is reduced by an amount
equal to the outstanding instalment premium
(including taxes).
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We advise you to continue your Policy for the complete
tenure to enjoy the total DGPGƒVU of this plan. However, #. On non-payment of premium within grace period,
in case if you still decide to surrender your Policy, the before payment of ƒTUV 2 Policy year’s premiums in
Policy will acquire Guaranteed Surrender Value after full, the Policy will lapse and all the DGPGƒVU
premiums have been paid for at least 2 full years. including life insurance cover will terminate.
The Guaranteed Surrender Value (GSV) will be B. On non-payment of premium any time after
calculated as: payment of ƒTUV 2 Policy year’s premiums in full, the
• GSV of Basic Sum Assured and Loyalty Booster = Policy will not lapse but will continue as a Paid-up
(Applicable GSV factor of Basic Sum Assured and policy.
Loyalty Booster) X (Total Amount of Premiums Paid
excluding taxes) PLUS A Paid-up / Lapsed Policy will not be entitled for any
• GSV of accrued Guaranteed Additions = (Applicable future Guaranteed Additions. Guaranteed Additions
Guaranteed Additions GSV factor) X (Accrued already accrued to the policy shall continue to remain
Guaranteed Additions) attached.
We may declare Special Surrender Value (SSV) which $GPGƒV2C[CDNGQP&GCVJHQT2CKFWRRQNKEKGU 2CKFWR
may undergo change from time to time upon approval Sum Assured on Death + Accrued Guaranteed
from IRDAI. Higher of GSV or SSV will be paid on Policy Additions.
Surrender. 9JGTG
The Policy and all the rights under the Policy shall stand • Paid-up Sum Assured on Death=Sum Assured on
extinguished immediately on surrender of the Policy. Death X (Total Number of Premiums paid / Total
Number of Premiums payable over the Policy Term)
H.2 What KH I CO not JCRRy YKVJ the RNCP CHVGT DW[KPI $GPGƒV2C[CDNGQP/CVWTKV[HQT2CKFWRRQNKEKGU
it ((ree Look PGTKQF ! Paid-up Sum Assured + Paid-up Loyalty Booster +
accrued Guaranteed Additions
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Conditions of the Policy, you may return the Policy
Document along with a letter stating the reasons for • Paid-up Sum Assured = Basic Sum Assured X (Total
disagreement to the Company within 15 days or 30 Number of Premiums paid / Total Number of
days (in case of an electronic policy or if purchased Premiums payable over the Policy Term)
through Distance Marketing mode*) from the date you • Paid-up Loyalty Booster = Loyalty Booster X (Total
received the Policy. Number of Premiums paid / Total Number of
Premiums payable over the Policy Term)
On cancellation of the Policy during the free look period,
we will return the policy premium paid subject to the A Paid-up policy can also be surrendered at any time.
deduction of:
The DGPGƒV payable will be in accordance with the
DGPGƒVRayable on surrender.
• Proportionate risk premium (including taxes) and
• Stamp duty paid **QYFQ+4evivGO[.CRUGFPQNKE[!
The Policy will terminate on payment of this amount You can apply for Revival of the lapsed / Paid-Up Policy
CPF CNN TKIJVU DGPGƒVU CPF KPVGTGUVU WPFGT VJKU 2QNKE[ YKVJKPƒXGEQPUGEWVKXG[GCTUHTQOVJGFWGFCVGQHVJGƒTUV
will stand extinguished. unpaid premium (Revival Period).
The revival shall be subject to the following conditions:
H.3 What KH I OKUUGF O[ RTGOKWO due Date )TCEG • Satisfactory evidence of insurability of the Life
PGTKQF ! Assured and
• Payment in full of an amount equal to all the Policy
You have a grace period of 15 days for Policies under Premiums due but unpaid till the Effective Date
monthly mode and 30 days as grace period for Policies of Revival along with interest.
under Yearly / Half-yearly mode from the premium due
* Distance Marketing: Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through the
following modes: (i) Voice mode, which includes telephone-calling (ii) Short Messaging Service (SMS) (iii) Electronic mode which includes e-mail,
internet and interactive television (DTH) (iv) Physical mode which includes direct postal mail and newspaper & magazine inserts and (v) Solicitation
through any means of communication other than in person.• The interest rate will always be equal to yield to +)QQFU5GrXKEGTax
maturity on 5 years G-Sec plus + 200 bps and Goods & Service Tax or any other tax/cess/
will be reset at the beginning of each Financial surcharge will be levied as per prevailing tax laws.
Year, wherein the 5 year G-Sec rate as at 31st
March of each year will be considered for the +5WKEKFG'xENWUKQP
calculation of rate of interest on revival for the
UWDUGSWGPV ƒPCPEKCN [GCT #P[ EJCPIG KP VJKU If death occurs due to suicide within 12 months from
basis will be subject to prior approval from IRDAI. the date of commencement of risk under the policy
The Effective Date of Revival is the date on which the or from the date of revival of the policy, as applicable,
CDQXGTGSWKTGOGPVUCTGHWNƒNNGFCPFCEEGRVCPEGQHVJG the claimant shall be entitled to 80% of the total
same by the Company. premiums paid till the date of death or the surrender
value as available on date of death whichever is
Upon Revival 9 , the Policy will become eligible for higher, provided the policy is inforce.
Guaranteed Additions for the period in which the Policy
was in Lapsed / Paid-up status. The Policy will also
become eligible for future Guaranteed Additions.
If you do not revive a Lapsed Policy within the Revival
period, the Policy will automatically stand terminated.
+#UUKIPOGPVCPF0QOKPCVKQP
I. TGTOUCPF%QPFKVKQPU • Assignment: Allowed as per section 38 of the
Insurance Act 1938 as amended from time to
time
+#WVQOCVKEVGUVKPIQHVJGPQNKE[
• Nomination: Allowed as per section 39 of the
If the policy has been taken on the life of a minor, the Insurance Act 1938 as amended from time to
policy shall automatically vest on him/her with effect time
from the date of completion of 18 years of age and the
Life Assured will become the Policyholder from such
date.
9
Waiting Period is not applicable in case of policy revival
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• The brochure is not a contract of insurance. The precise Terms and Conditions of this plan arGURGEKƒGFKPVJGRQNKE[EQPVTCEV
• This product is underwritten by Aegon Life Insurance Company Ltd.
• Insurance cover is available under this product
Beware of Spurious Phone Calls and Fictitious/Fraudulent Offers
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls
are requested to lodge a police complaint.
Prohibition QH4GDCVGU
Section 41 of the Insurance Act, 1938 (as amended from time to time) states:
1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of
any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy,
nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published
prospectuses or tables of the insurer.
2) Any person making default in complying with the provision of this section shall be puniUJCDNGYKVJƒPGYJKEJOay extend to ₹ 10 Lacs.
Non-Disclosure
Section 45 of the Insurance Act, 1938 (as amended from time to time) states:
1) No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 years from the date of policy i.e. from the date of issuance of
the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later.
2) On the ground of fraud, a policy of Life Insurance may be called in question at any time within 3 years from the date of issuance of the policy or the date of
commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. For this, the insurer shall have to communicate
in writing to the insured or the legal representatives or nominees or assignees of the insured, as applicable, mentioning the ground and materials on which such
decision is based.
For full texts of Section 38, Section 39 and Section 45, please refer to the Insurance Act, 1938 (as amended from time to time).#DQWV7U
Aegon Life Insurance Company Limited
#GIQP.KHG+PUWTCPEG%QORCP[.KOKVGFKUHQEWUGFQPHWNƒNNKPIKVUXKUKQPQHETGCVKPIVGPUKQPHTGGNKXGU2WTUWKPIVJG
same goal, we provide a complete product suite, customized advice, and are constantly looking to enhance the
overall customer experience.
Aegon Life was formed with the coming together of Aegon N. V., an international provider of Life insurance,
pensions and asset management, and Bennett Coleman & Company, India's largest media conglomerate
popularly known as Times Group. This union brings together a local approach, with global expertise of launching
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The company is headquartered in Mumbai, India. With 46 branches spanning across 45 cities, we proudly serve
more than 3 Lakh customers, as on July 2019.
#DQWV#GIQP
#GIQPŦUTQQVUIQDCEM[GCTUŢVQVJGƒTUVJCNHQHVJGPKPGVGGPVJEGPVWT[5KPEGVJGP#GIQPJCUITQYPKPVQCP
international company, with businesses in more than 20 countries in the Americas, Europe and Asia. In the US, it
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organizations, providing life insurance, pensions and asset management. Aegon never loses sight of its purpose
VQ JGNR RGQRNG CEJKGXG C NKHGVKOG QH ƒPCPEKCN UGEWTKV[ 9KVJ #NOQUV OKNNKQP EWUVQOGTU CPF CTQWPF
employees, it has 804 billion Euros of revenue-generating investments, as of Dec 2018.
#DQWV$GPPGVV%QNGOCP%QORCP[.KOKVGF
The Times Group is one of the leading media conglomerate in India having presence in print, radio, TV, outdoor
media and the internet through Bennett, Coleman and Company Limited (BCCL) and its subsidiaries. The Times
of India, the flagship brand of the company, is the number 1 English newspaper in India and the World by circula -
tion according to Financial Times as of March 2015. With a turnover of over INR 500 crore as per March 2018, the
group has the support of over 25,000 advertisers, more than 11,000 employees and an audience spanning across
all continents.
*QYVQEQPVCEVWU!
If you want to talk to us, just call our customer service team on (Toll Free) 1800 209 9090 or visit our web page
www.aegonlife.com
Product Name: Aegon Life POS Guaranteed Return Insurance Plan UIN- 138N076V02
This is a Non-linked Non-participating Life Insurance plan
IRDAI Company Registration Number: 138
+4D#+%QORCP[4GIKUVTCVKQP0Q
Aegon Life Company Limited, A – 201, 2nd
#GIQP.KHG+PUWTCPEG%QORCP[.KOKVGF Floor,No.
Building Leela Business
3, Third Park,
floor, UnitAndheri-Kurla
No. 1, NESCO Road, Andheri
IT Park, (E),Express Highway,
Western
Mumbai – 400059. Tel: +91 226118 0100, Fax: +912261180200 / 300, Email: customer.care@aegonlife.com |
Goregaon (E), Mumbai 400 063. Tel: +91 22 6118 0100 | Fax: 02261180200 / 300 | e-mail: customer.care@aegonlife.com |
Website; www.aegonlife.com. Corporate Identity No:U66010MH2007PLC169110.
Website : www.aegonlife.com Corporate Identity No. : U66010MH2007PLC169110
“Trade logo displayed belongs to M/s Aegon N.V. and used by Aegon Life Insurance Co. Ltd. under license agreement.”
“Trade logo displayed belongs to M/s Aegon N.V. and M/s Bennett, Coleman and Co. Ltd. and used by Aegon Life Insurance Co.
ADVT No. IC/Nov 2019/5334
Ltd. under trade agreement.” Advt no. IC/Nov 2019/5334You can also read
