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Aegon Life iInvest Insurance Plan is Suitable for Every Type of Investor

If you want to stay ahead of inflation what could be better than investing?  Investments that are done today can help you build a strong financial foundation. Investing can help you tackle rainy days stress-free. Your money is in your hands so use it wisely and make it do wonders for you.

Get the most out of your investments with Aegon Life’s iInvest Plan. The plan is easily accessible online which eliminates the tiring process of purchasing a ULIP plan. Aegon Life iInvest Insurance Plan is one of the most efficient investments in the market as it helps you reap tax benefits and is available at the lowest prices. A policyholder will bear the investment risk in the portfolio. This plan is a unit-linked life insurance plan which equips you with the opportunity to increase your money through strategic investments.

Aegon Life iInvest Insurance is an online, non-participating, ULIP (Unit-Linked Insurance Plan) that includes a combination of investment and protection. It makes a good choice for both market experts and amateur investors. This plan is preferred by people because it offers 100% returns of premiums on the amount invested. It supports investors to achieve financial goals as it doesn't incorporate premium allocation charges. And the best part is you will get benefits like flexible payment options, and many more.

What Motivates People to buy the iInvest Insurance Plan from Aegon Life?

Aegon Life Insurance Company is one of the leading companies in the market. It is currently operating in more than 20 nations and it presents a comprehensive portfolio of products traversing across insurance, protection, retirement, and asset management. With the Aegon Life iInvest Insurance Plan, it is possible to acquire high returns from your investment. Moreover, an investor will also be able to reap the benefit of incredible flexibility in the investment strategies that are available under this plan.

Policychayan is one of the reliable platforms that people use to buy insurance and investment plans. Here you will find different insurance providers and their all-inclusive plans. One of the best things that you can do for your family protects them from the financial burdens, and Policychayn enables you to do so. From here, you can also buy Aegon Life iInvest Insurance Plan hassle-free.

Fundamental Features of Aegon Life iInvest Insurance Plan

Free Look Period: Feel free to return the policy within 30 days from the date of receipt if you are not pleased with the policy. The non-allocated premium will be reimbursed along with any charges applied by the cancellation of units plus in addition to the fund value on the date of cancellation minus stamp duty, medical examination expenses, and proportionate risk charges.

Grace Period: A policyholder will get 30 days from the premium due date to pay the premium. When it comes to monthly mode, the grace period is 15 days.

Discontinuance of Premium: If you have stopped paying premiums within the first five years of the policy, you become eligible to withdraw the policy without any life cover or restore the policy within 2 years. If you do not revert to Aegon, your policy will be locked to the discontinued fund policy and returns will be reimbursed after the termination of the lock-in period. If you fail to pay premiums after 5 years, you can revoke the policy without life cover, revive it within 2 years or alter the policy into a Paid-up policy.

Reinstatement: It is possible to revive a lapsed policy within 2 years from the date of the first due premium.

Partial Withdrawals: Feel free to withdraw money from the fund value after the termination of the 5th policy year. 20% of the fund value at the beginning of the policy year is the maximum amount that a policyholder can withdraw. Four withdrawals are permitted for free in a policy year.

Switch: You can switch from Lifestyle to a Self-managed portfolio strategy anytime during the policy term without worrying about paying even a penny.

Switch from Self-managed to Lifestyle portfolio strategy once every policy year without bearing any charges. During the last 12 policy years, you will not get this option.

Settlement Option: Even when your policy reaches the maturity date, it is possible to remain invested in the fund and obtain maturity proceeds in installments not surpassing 5 years.

Premium Redirection: It is possible to switch your premium allocation under the self-managed portfolio strategy. It will be applicable to your future premiums and top-ups.

Top-up: You can add an amount of premium beyond the basic premium subject to a minimum of Rs.5,000 except for the last 5 years of the policy term. This option helps in elevating the fund value.

Nomination: It is applicable under the Insurance Act, 1938, Section 39.

Assignment: It is applicable under the Insurance Act, 1938, Section 38.

Service Tax: As per the current tax laws, it will be assessed.

What Does the Aegon Life iInvest Insurance Plan Cover?

Maturity Benefit: The total fund value as is on the date of maturity will be reimbursed.

Death Benefit: If the insured individual passes away during the policy, the nominee will be eligible to get the higher of the following:

  • Total Sum Assured on death
  • Total Fund Value
  • 105% of the premiums paid

Loyalty Units: For policy terms of 15 years, 20 years, and 25 years, and if there is no due premium, you will get loyalty units during the last 5 policy years. 

Investment Portfolio Strategy: Feel free to opt one of the portfolio strategies:

  • Self-managed
  • Lifestyle

Documents Needed for Aegon Life iInvest Insurance Plan  

Given below are some documents that are mandated for buying the insurance plan.

  • Passport size photographs
  • Identity proof
  • Address proof
  • Age proof
  • Income proof
  • Bank account details

Aegon Life iInvest Insurance Plan is a straightforward, and online insurance plan available at an affordable price. It is curated to offer maximum return benefits to the policyholder. So, whether you are a seasoned investor or investing for the first time, Aegon Life iInvest Insurance Plan has something profitable for everyone.

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Frequently Asked Questions

If your query has not been addressed, feel free to visit the Aegon Life website’s customer service section to comprehend the escalation pattern.

Once the policy is issued, you will be required to pay the premium. Premiums will be needed to be paid on the due date as per the premium frequency selected by you.

Yes, Aegon Life will remind you to pay your premiums either by sending a letter or dropping an email 28 days prior to the due date. You will also get the reminder 7 days before the due date.

If you choose to cancel your policy, the refund will be credited to your bank account within 7 to 10 business days.

Within 2 years from the date of discontinuance, it is possible to revive your policy on the following terms:
You need to pay all due premiums
You need to present sufficient evidence of insurability
Policy administration charges applicable during the discontinuance period will be applied

Under Section 80C and 10(10D) of the Income Tax Act, 1961, policyholders can reap tax benefits for premiums paid and benefits obtained from this policy. It is advised to connect with a professional tax advisor to take advantage of the tax benefits which are subject to modifications from time to time.

No charges will apply on premium and top-up premium allocation.