AEGON Religare Life Insurance (ARLI) has launched two plans for its online platform – AEGON Religare iMaximize Insurance Plan – a unit-linked protection plan that is available as a single premium payment plan as well as a regular premium payment plan and AEGON Religare iReturn Insurance Plan – a return-of-premium term plan. Both the plans are available exclusively online and can be bought within 10-12 minutes by visiting their website.
Yateesh Srivastava, Chief Operating Officer of ARLI explained that the AEGON Religare iMaximize Insurance Plan comes with a ‘triple-benefit’ option which pays out a lump sum in the case of death of the policy holder, an annual income benefit for the life of the policy and also pays all remaining premiums in order to ensure that corpus creation is not compromised.
Srivatsava explained the company has also launched a 72-hour issuance promise for issuing an insurance policy within three days after completion of documentation. They also have a claims guarantee for i-Term customers where there is a guarantee for claims payment when they are insured with the company for two years. The company gets 20 per cent of its total business from the online platform.
The AEGON Religare iMaximize Insurance Plan is specially targeted at parents who are looking at safeguarding their child’s future. It offers zero premium allocation charge. It thus invests 100 per cent of the premium. Charges that apply are mortality charges, fund management charges and policy administration charges. Further, it also offers three investment fund options, namely, Blue Chip Equity Fund, Secure Fund and Debt Fund.
The AEGON Religare iReturn Insurance Plan is specially targeted at individuals who are looking for a term plan with a return of premium. It offers a life cover that pays a lump sum on death and at the end of the policy term on survival, the premiums paid are returned.
Further, it offers an in-built Terminal Illness Benefit that pays 25 per cent of the base policy sum assured in case the life assured is diagnosed with a terminal illness. Moreover, it also waives off the future premium. It offers additional protection by offering multiple riders like AEGON Religare AD (Accidental Death) Rider, AEGON Religare Critical Illness Rider, AEGON Religare Waiver Of Premium Rider and AEGON Religare Woman Critical Illness Rider.