The AEGON Religare Pension Plan provides with regular pension and thus secures the retired life. This policy takes care of the basic needs of the post retirement life. This plan also secures the future.
The eligibility criteria of AEGON Religare Pension Plan are as follows:
- The minimum entry age for the policy is 20 years.
- The maximum entry age for the policy is 75 years.
- The minimum vesting age of the policy is 50 years.
- The maximum vesting age of the policy is 85 years.
- The minimum regular annualized premium for a policy term of 15 years or more is Rs 15,000 per annum.
- The minimum regular annualized premium for a policy term of 10 years is Rs 24,000 per annum.
- The available policy term for single premium is 5 years to 50 years.
- The minimum policy term for level or increasing premium is 10/15 years to 50 years.
- The premium paying frequencies are yearly, half yearly, quarterly and monthly premiums.
The benefits of AEGON Religare Pension Plan are as follows:
- In case of the unfortunate death of the policy holder the nominee will receive the existing fund value of the date when the company receives the intimation of the death claim.
- If the policy holder has opted for the term rider the term rider with the sum assured along with the und value will be paid.
- The policy holder can opt for surrendering the policy after 3 policy years. He or she will receive the surrender value i.e. the fund value minus the surrender charges. The charges will depend on the period after which the policy holder has paid the premiums. If the policy is surrendered after 5 policy years no charges will be paid.
- On vesting of the policy the policy holder can take the part of the fund value as tax free lump sum according to the prevailing tax laws.