Aegon Life Guaranteed Growth Brochure.cdr

PROMISE TO PAY

Aegon Life Guaranteed Growth Insurance Plan

A life insurance plan which offers assured 150% return

on annualised premiums paid

• Limited Premium Payment

• Guaranteed Benefits

Guaranteed payouts schedule

End of year % of annualised premium payable

10th year 150%

11th year 150%

12th year 150%

13th year 150%

14th year 150%

15th year 150%

16th year 150%

17th year 150%

For example: You opt for this plan and pay an annual

premium ` 1 lakh plus taxes. In case you pay all due

premiums for the first 8 years, you

will receive `1.5 lakhs (150% of the annualised premium) at

the end of every year from 10th to 17th year from the date

of commencement of the policy (Payout Period).

Guaranteed Death Benefit: In case of unfortunate demise

of the Life Assured during the Policy Term, the nominee will

get the guaranteed payouts (i.e. maturity benefit) as

scheduled at the end of each year during the Payout period.

Payout period is defined as the period starting from the end

of 10th year till end of 17th year. All due premiums payable

during the balance of the Premium Payment Term after the

date of death of the Life Assured will be waived.

Premium Payment Term

Premiums paid =

(`1 lakh + tax) x 8 years =

` 8 lakhs + tax

Payout Period

Guaranteed payout = `1.5 lakhs p.a

Total payout =

`1.5 lakhs x 8 years = `12 Lakhs

INTRODUCTION

If you are looking for an investment plan that guarantees

returns, this plan is for you. Aegon Life Guaranteed Growth

Insurance Plan ensures you receive what you are promised

and at the right time. So you can achieve your goal,

regardless of the situation.

HOW DOES THE PLAN WORK?

• Decide on the amount of premium you wish to pay every

year

• Get guaranteed payouts after the Policy Term

KEY ADVANTAGES OF AEGON LIFE

GUARANTEED GROWTH INSURANCE

PLAN

• Guaranteed Maturity Benefit: Guaranteed annual payouts

for 8 years starting from the end of Policy Term

• Guaranteed Death Benefit: In case of death during the

Policy Term, the future premiums will be waived and the

guaranteed payouts as scheduled will be paid to your

nominee

• Limited Premium Payment Term

• Tax benefits as per prevailing tax laws

BENEFITS

Guaranteed Maturity Benefit: You will get 150% of the

annualised premium you have paid every year (excluding

taxes) at the end of every year from 10th year to 17th

year from the date of commencement of the policy. This

benefit is the Maturity Benefit which will be paid over a

period of time. This benefit will only be payable if all the

premiums are paid till the end of the Premium Payment

Term or death, whichever is earlier.

Policy Term Payout Period

Guaranteed payout

= `1.5 lakhs p.a

Total payout

= `1.5 lakhs x 8 years = `12 lakhs

10 17

Premiums paid till death

= (`1lakh + tax) x 2 years

= `2lakhs + tax

Death of Life Assured

The nominee / appointee / assignee / legal heir, as may be

applicable, will have an option to take the Cash Value of the

Death Benefit on death of the Life Assured or at any point

in time during the Policy Term after the death of the Life

Assured. The Cash Value of the Death Benefit will be higher

of 10 times the annualised premium or 105% of all

premiums paid as on date of death or present value of the

guaranteed payouts. The present value of the guaranteed

payouts shall be calculated at 10% p.a. but this interest rate

can be changed by the company subject to IRDAI’s

approval. This option of taking the cash value, will however

not be available once the guaranteed payouts have started.

In case of death while the policy is in Paid-Up status, the

Death Benefit will be the Paid-Up Value Sum Assured which

will be paid after acceptance of death claim. Paid-up Sum

Assured is defined as (Total premiums paid / Total

premiums payable) x Sum Assured.

In case of death of the Life Assured, during the Payout

period, the guaranteed payouts will continue to be paid to

the nominee till the end of 17th Year.

For example: You opt for this policy and pay an annual

premium `1 lakh plus taxes. In case of your unfortunate

demise in the 2nd policy year after paying 2 annualised

premiums, the future premiums will be waived and your

nominee will receive the guaranteed payouts of ` 1.5 lakhs

at the end of every year from 10th to 17th year from the

date of commencement of the policy.

Your nominee will also have the option to take the cash

value of the Death Benefit, instead of the above

Guaranteed Payouts.

Surrender Benefit: The policy will acquire Guaranteed

Surrender Value on payment of first annualised premium or

first 12 monthly premiums. The details of Surrender Values

are given in the Terms and Conditions below.

Tax Benefit: The premiums paid and benefits received are

eligible for tax benefits under Section 80C and 10(10D) of

the Income tax Act, 1961 respectively upon fulfillment of

conditions laid down for availing such benefits. The tax

benefits are subject to change as per change in Tax laws from

time to time. Please consult your tax advisor for further

details.

Entry Age# Minimum - 8 years completed

Maximum - 50 years completed

Maturity Age Maximum - 60 years completed

Policy Term 10 years

Premium Payment Term (PPT) 8 years

Annualised Premium Age (years Annualised

completed) Premium (`)

Minimum 8 - 35 20,000

36 - 45 30,000

46 - 50 40,000

Annualised Premium Age (years Annualised

completed) Premium (`)

Maximum 8 - 35 3,00,000

36 - 45 2,00,000

46 - 50 1,00,000

Premium payment frequency Annual and Monthly*

Sum Assured 10 x Annualised Premium

ELIGIBILITY

premiums payable) x Sum Assured

• Paid-Up Value = Paid-Up Value factor x Total annualised

premiums paid

• Policyholder has 2 years to reinstate the Paid-Up Policy

from the first unpaid premium due date. If a Paid-Up

Policy is not reinstated, then it will continue as Paid-Up

Policy till the end of Policy Term.

• Paid-Up Policy is not eligible for guaranteed payouts

Please note that a Paid-Up Policy can be surrendered

within the Policy Term also, as per the calculations

mentioned below in the Surrender Value section.

Surrender Value: The policy will acquire a Guaranteed

Surrender Value on payment of first annual premium or

first 12 monthly premiums.

The Surrender Value is calculated as below:

When all due premiums have not been paid,

Surrender Value = A Guaranteed Surrender Value factor X

Paid-Up value

When all due premiums have been paid,

Surrender Value = A Guaranteed Surrender Value factor X

Total annualised premiums paid

Please refer to the Policy Contract for details on

guaranteed Surrender Value factors.

Reinstatement: You can apply for reinstatement of the

Lapsed / Paid-Up Policy within two years from the due date

of the first unpaid premium.

For reinstatement, you will need to pay all unpaid premium

+ interest as declared by the Company from time to time,

which will not exceed yield to maturity on a 5 year G-sec

plus 3%.

The reinstatement shall be subject to the following

conditions:

• Satisfactory evidence of insurability of the Life Assured

# Parent / Grand Parent can propose the policy in the

name of the child. There may be other circumstances

wherein the Policyholder and the Life Assured are different.

The Company will follow the principle of insurable interest

in this regard.

* Monthly Premium = Annualised Premium X 0.087

OTHER FEATURES

Grace Period: You have a period of 30 days as grace period

from the premium due date to pay the premium. In case of

death during the grace period, the unpaid premium will also

be waived and Death Benefit will be payable without any

deduction of the outstanding premium.

TERMS AND CONDITIONS

Discontinuance of Premium: If the first 12 months

premiums are not paid within the days of grace, the policy

lapses with all the benefits including life insurance cover.

• No benefits are available on a lapsed policy

• Policyholder has 2 years to reinstate the lapsed policy

• If the lapsed policy is not reinstated within the

reinstatement period then the policy is terminated

without any benefit If the Policyholder stops paying

premium anytime after payment of first annual premium

or first 12 monthly premiums, the Policy continues as a

Paid-Up Policy.

Paid-Up Policy provisions:

• For a Policy in Paid-Up status, the Paid-Up Sum Assured

will be paid out in case of death during the Policy Term

and the Paid-Up value will be paid upon survival till

maturity

• Paid-Up Sum Assured = (Total premiums paid / Total

Policy Loan: Policy Loan is not available under this plan.

Suicide Exclusion: In case of death due to suicide within 12

months from the date of inception of the policy, the

nominee or beneficiary of the Policyholder shall be entitled

to at least 80% of the premium(s) paid provided the policy

is in-force or

In case of death due to suicide within 12 months from the

date of revival of the policy, the nominee or beneficiary of

the Policyholder shall be entitled to an amount which is

higher of 80% of the premiums paid till the date of death

or the Surrender Value as available on the date of death.

ASSIGNMENT & NOMINATION

Assignment: Allowed as per section 38 of the Insurance Act

1938 as amended from time to time

Nomination: Allowed as per section 39 of the Insurance

Act 1938 as amended from time to time

Disclaimers:

• The brochure is not a contract of insurance. The precise

terms and conditions of this plan are specified in the

policy contract.

• Buying a life insurance policy is a long term commitment

and early termination of the policy usually involves high

costs and the Surrender Value payable, if applicable, may

be less than the total premiums paid.

• This product brochure should be read along with sales

illustration

• This Policy will only be issued to lives accepted as

standard as per Company approved underwriting

guidelines

• This product is underwritten by Aegon Life Insurance

Company Ltd.

• Insurance is the subject matter of the solicitation

• Insurance cover is available under this product

• Payment in full of an amount equal to all the Policy

Premiums due but unpaid till the Effective Date of

reinstatement along with interest.

• If the Life Assured is found sub-standard at the time of

revival, the policy will not be reinstated and will be

treated as a Paid-Up Policy.

It will be ensured that the evidences and any medical

requirements called for are in line with the prevailing

underwriting rules/practices and the health declaration by

the Life Assured. Any evidence of insurability requested at

the time of reinstatement/ revival will be based on the

prevailing underwriting guidelines duly approved by the

Board.

Free Look Period: If you are not satisfied with any of the

terms and conditions of the Policy, you may return the

Policy document along with a letter stating the reason for

disagreement within 15 days or 30 days (if purchased

through Distance Marketing mode ) of receipt of the

Policy document. Upon return of this Policy by You, this

Policy will terminate and all rights, benefits and interests

under this Policy shall stand extinguished. We will refund

the Premiums received by Us, after deducting the charges

of stamp duty paid on the policy.

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.

Service Tax: Service tax or any other tax will be levied as

per prevailing tax laws.

For full texts of Section 38, Section 39 and Section 45,

please refer to the Insurance Act, 1938 (as amended from

time to time).

ABOUT AEGON LIFE

Aegon Life Insurance Company Limited (formerly AEGON

Religare Life Insurance Company Limited) launched its pan-

India operations in July, 2008 following a multi-channel

distribution strategy with a vision to help people plan their

life better. The fulﬁllment of this vision is based upon having

a complete product suite, providing customised advice and

enhancing the overall customer experience. Aegon, an

international provider of life insurance, pensions and asset

management and Bennett, Coleman & Company, India's

leading media conglomerate, have come together to launch

Aegon Life Insurance. This joint venture adopts a local

approach with the power of global expertise to launch

products that are focused on providing customers with the

means to meeting their long-terms ﬁnancial goals. The

company is headquartered in Mumbai having 53 branches

across 46 cities. The company has around 9600 life

insurance agents serving over 4 lakh customers across

India.

ABOUT AEGON

Aegon's roots go back 170 years – to the ﬁrst half of the

nineteenth century. Since then, Aegon has grown into an

international company, with businesses in more than 20

countries in the Americas, Europe and Asia. In the US,

Aegon's leading market, it operates under the Transamerica

brand. Today, Aegon is one of the world's leading ﬁnancial

services organizations, providing life insurance, pensions

and asset management. Aegon never loses sight of its

purpose to help its customers secure their long-term

ﬁnancial future. With around 28,000 employees, it has 635

billion Euros of revenue-generating investments.

Prohibition of Rebates

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 punishable with fine, which

may extend to Rs. 10 Lakh.

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 yrs from the date

of date of policy i.e. from the date of issuance of policy or

the date of commencement of risk or the date of revival of

policy or the date of 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 policy or the date of commencement of

risk or the date of revival of policy or the date of rider to

the policy, whichever is later. For this, the insurer shall have

to communicate in writing to the insured or legal

representative or nominee or assignees of insured, as

applicable, mentioning the ground and materials on which

such decision is based.

Beware of spurious phone calls and ﬁctitious/fraudulent

offers. IRDAI clariﬁes to public that: IRDAI or its ofﬁcials do

not involve in activities like sale of any kind of insurance or

ﬁnancial products nor invest premiums. IRDAI does not

announce any bonus. Public receiving such phone calls are

requested to lodge a police complaint along with details of

phone call, number.

Product Name: Aegon Guaranteed Growth Insurance Plan UIN

138N046V01

This is a non-linked, non- participating life insurance plan.

For more details: Call (Toll Free) 1800 209 9090

www.aegonlife.com

ABOUT BENNETT, COLEMAN &

COMPANY LIMITED

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 circulation. With a

turnover exceeding a billion dollars, the group has the

support of over 25,000 advertisers, 11,000 employees and

an audience spanning across all continents.

V No. I /Dec 2015

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. Ltd. under trade agreement.

Registered Ofﬁce:

Aegon Life Insurance Company Limited,

IRDAI Company Registration No. 138

Corporate Identity No. : U66010MH2007PLC169110

Building No. 3, Third ﬂoor, Unit No. 1,

NESCO IT Park, Western Express Highway,Goregaon (E),

Mumbai 400 063.

Tel: +91 22 6118 0100, Fax: 02261180200 / 300,

e-mail: customer.care@aegonlife.com

Advt no. IC/Dec 2015/2869