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Aegon Religare Guaranteed Income Advantage I..
Aegon Religare Guaranteed Income Advantage I..




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Guaranteed Income Advantage Benefits

1 Loan And Benefits
1.1 Loan
8% Pension Plans Life insurance plans have it !
1.2 Surrender
83% Pension Plans Life insurance plans have it !
1.2.1 Surrender Value
GSV of Sum Assured = (Applicable GSV Factor) X (Total Amount of Premiums Paid) + [GSV of Bonus = (Applicable GSV Factor) X (Accrued Bonus)]
1.3 Benefits
1.3.1 Tax
92% Pension Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Applicable as per tax laws
1.3.3 Service Tax
Applicable
1.3.4 Maturity
79% Pension Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Not Mentioned
1.3.6 Death
96% Pension Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
An amount equal to higher of 10 times of annualized Base Premium or Sum Assured along with accrued Bonus, if any will be paid.
1.3.8 Annuity
75% Pension Plans Life insurance plans have it !
1.4 Bonus
Reversionary Bonus

Guaranteed Income Advantage Loan

Guaranteed Income Advantage loan is an amount that is borrowed from the insurance company which has to be returned with interest within fixed time. Policy loan, surrender value, bonus, benefits are included under Aegon Religare Guaranteed Income Advantage Insurance Plan loan and benefits. Aegon Religare Guaranteed Income Advantage Insurance Plan Terms and Conditions for policy loan are specified by the company. This insurance policy does not provide loan. If any insurance policy provides loan then this amount will be some percentage of surrender value.

Guaranteed Income Advantage Surrender

Guaranteed Income Advantage surrender value is an amount which you receive from the insurance company in case you want to terminate your policy before maturity. Usually for a regular premium policy, you can get surrender value if you have paid Aegon Religare Guaranteed Income Advantage Insurance Plan Premium for three continuous years. Surrender value is also known as cash surrender value or cash value.

Aegon Religare Guaranteed Income Advantage Insurance Plan Bonus

Aegon Religare Guaranteed Income Advantage Insurance Plan bonus is an additional or extra sum given to a policyholder. When an insurance company makes profits then it shares the profits in the form of bonus with the life insured. Insurance policy bonus includes terminal bonus, reversionary bonus, interim bonus etc. Bonus, if available, can also be considered as one of the Aegon Religare Guaranteed Income Advantage Insurance Plan benefits. Bonus provided under this plan: Reversionary Bonus.

Reversionary bonus is the one that is based on performance of the insurance policy. You'll get terminal bonus upon termination i.e. maturity of the policy. Dates of terminal bonus are usually announced by the insurance company. If the maturity date of your policy lies within two terminal bonus dates then in its stead, you get an interim bonus.

Benefits Under Guaranteed Income Advantage

Benefits under Guaranteed Income Advantage include tax benefit, death benefit, maturity benefit and annuity benefit. Tax is applicable for this plan. Maturity can be availed under this policy. This insurance plan assures Death. Annuity is not applicable for this plan.

  • Tax benefit amount: Applicable as per tax laws
  • Maturity benefit amount: Not Mentioned
  • Death benefit amount: An amount equal to higher of 10 times of annualized Base Premium or Sum Assured along with accrued Bonus, if any will be paid.

If Aegon Religare Guaranteed Income Advantage Insurance Plan offers tax benefit, then the premiums you pay are eligible for deduction on tax returns and so is a part of the money you get on maturity of the policy. Maturity benefit is the amount of money you get at end of the policy term. Because of death benefit, family of the policy holder receives all the returns in the event of demise of the policy holder. With annuity benefit, you have an opportunity to secure your life financially after retirement. Annuity provides a regular source of income after retirement.

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