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	AEGON Religare Term Rider | AEGON Religare Waiver of Premium Rider

Pension Plans

Today, you are living comfortably. There is a regular inflow of income and your bills are paid on time. In fact your necessities are taken care of, without you having to worry about them.

However, the future will be different. Rising inflation will affect the price of the smallest of items. Milk that costs Rs.20/ltr. today could cost around Rs.95 twenty years later. Which means, on retirement you may not be able to afford even the basic necessities like food, clothing, etc.

Therefore you need to plan your retirement today itself. Presenting the AEGON Religare Pension Plan. It provides you with a regular pension that will help you take care of the much needed basic necessities, post-retirement. Invest in AEGON Religare Pension Plan and be assured of a secure tomorrow.

How does the plan work?

Step 1: Choose your retirement age.
Step 2: Consult our Life Advisor to know what should be your retirement amount.
Step 3: Decide the amount of premium you wish to pay every year from the flexible options.
Step 4: Invest your premiums in the ‘Lifestyle Fund’ option, a Fund that systematically minimises the risk to your returns by reducing the equity exposure throughout the policy term. Alternatively, you can choose to invest your premiums in any of our 5 Funds.

Premium Options

Increasing Premium
The Increasing Premium Payment option is a feature that takes into consideration inflation. As inflation rises, the value of your money falls thereby reducing your purchasing power. Therefore, it becomes important that as time elapses, you should built a corpus that has the value and purchasing power that you have always wanted.
Under this variant, you can choose to pay regular premiums which increase by 5% or 8% of the first year premium every year.

Level Premium
If you choose Level Premium, the amount of regular premium that you pay every year remains fixed till you reach the vesting age.
E.g. The graph below shows you how opting for the Increasing Premium Option at 5% and 8% over a period of time will help you in increasing the amount you get at vesting.

The graph above shows you how opting for the Increasing Premium option at 5% and 8%, over a period of time will help you in increasing the amount you get at vesting. The graph above shows that the returns are 47% more when 5% Increasing Premium is opted for and 76% more when the 8% Increasing Premium is opted for, as compared to the Level Premium option. The fund value is assumed to be growing at 10% p.a. in Enhanced Equity Fund.

Benefits

1. Vesting
On vesting, you have the option to take a part of fund value as tax free lump-sum (as per prevailing tax laws). The balance amount will be used to purchase an immediate annuity from us at then prevailing rates or from any other Life Insurance Company.

Option to Pre-pone or Postpone your vesting age:
Under this option, you can change your vesting date. The minimum vesting age is attaining 50 years of age and the maximum up to attaining 70 years of age.

2. Partial Withdrawal
You can partly withdraw your money after first 3 policy years. The minimum amount of partial withdrawal is Rs. 5,000 and the maximum amount allowed in any policy year is 20% of the fund value at the beginning of that policy year.

3. Surrender
You can surrender the policy any time after the first 3 policy years. The Surrender Value is the Fund Value minus the surrender charges. The charges will depend upon the period for which you have paid your premiums. There is no charge if the policy is surrendered after 5 policy years.

4. Death
In case of your unfortunate demise, your nominee will receive the existing Fund Value of the date when we receive such intimation. In case you have opted for a Term Rider, the Term Rider Sum Assured in addition to the Fund Value will be payable.

Key Features:

Increase and decrease in Premium
Under this feature, you have the flexibility to increase or decrease the level premium that you pay annually. You also have the flexibility to change from increasing premium to level premium within minimum and maximum premium limits.

Auto-rebalancing
This feature at the end of every policy year, automatically rebalances the allocation of investments in various funds as to the allocation proportions chosen by you.

Special Units
The Special Units are added to your account on the 9th Policy Anniversary and once every 3 years thereafter, till the vesting of the policy or death. The value of Special units would be equal to a fixed percentage of the Average Fund Value. The allotment of Special Units will be 0.90% of the Average Fund Value of the last 36 months.

Premium Re-direction
This feature allows you to alter the premium allocation to be applied to your future premiums.

Switch
This feature helps you to shift your investments from one fund to another. Four switches are free of charge in each policy year.

Riders