Aegon Life Pension Plans – Review, Types, Features, Criteria & more

To enjoy the benefits post retirement, you need to start up early, and probably pool up some money. The pooled money can then further be used to have a pleasant life, excluded of the financial burden. Retirement is indeed a new phase of life, and peaceful it shall be, with all the finances accounted for through the Aegon Life Pension Plans.

If you manage your finances in advance, you can assuredly have a pleasant after work life. You would want to keep your income flow even after work, and the Aegon Life Retirement Plans goes the job. So, a likewise life wold continue, even without the regular income source.

We provide you the guide which would keep you up to date with the information. You need them in order to plan retirement with Aegon Life.

About Aegon Life Pension Plans

Financial services need is fulfilled by the company, which set up its line of business in India, from the year 2008.

This company is referred to, and widely popular, as it goes by the name Aegon Life Insurance Company Limited. This is a change in its recognition, as it was previously named Aegon Religare Life Insurance Company Limited.

Aegon Life National Pension Scheme consists of these amazing post retirement plans, all of which would safeguard your life.

All of these plans are customized and offered in context with the client’s requirement. The plans are all well designed and tailor made, and you have the liberty to avail the option according to your need.

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Types of Plans

This company provide only a single Aegon Life Pension Plan. People who wish to avail for the traditional form of a retirement and pension plan, this company has their wish fulfilled under its hood.

There exists only one Aegon Life Pension Plan, but it sure attains a diversified need satisfaction ratio. There are ample of benefits one can enjoy with this plan.

Given Below are the features and the benefits forming up this plan. Take a well diversified look at it, based on which you can derive how worthy of investment it is. The only plan provided by the company is as following:

• Aegon Life Guaranteed Income Advantage Insurance Plan

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Aegon Life Guaranteed Income Advantage Insurance Plan – By Aegon Life Pension Plan

You are sure to enjoy some assured and guaranteed benefits. Check out how this traditional Aegon Life Pension Plan would fulfill your need post retirement, and how you can avail for the plan easily and seamlessly.

• If you avail for this Aegon Life National Pension Scheme, you are bound to have a part in the company’s profits. You will be entitled to a lot of them in time being, all the times the company announces them.
• Aegon Life National Pension Funds are rolled out at the rate of 7.5%, commuted upon the amount assured to be paid. This payment is rendered every year, after the holder pays premium for the said period successfully. The rolled out payments are until the age of 85 years.
• Holder is supposed to pay premiums for a fixed, and limited period, the said limited pay option of Aegon Life NPS is opted for.
• Under this Aegon Life NPS, when 85 years of age is reached, holder will be entitled to bonuses relating to accrued and terminal are paid.

More Features of Aegon Life NPS Scheme

• Bonuses earned in the period of premium payment in this Aegon Life Retirement Plan, is granted at the maturity time. However, the same bonuses earned after the period of payment, are accounted for in maturity period or at death.
• Along with this Aegon Life Pension Funds plan, the holder can avail for the ADDD Rider. This would increase the benefit entitlement in cases such as accidental death, dismemberment or disability.
• This Aegon Life Pension Plan, allows the holder 10 time the annual premium or chosen sum to be paid. This is the death benefit at the time of premium payment term. Death benefit after the premium payment term is subject to accrued and terminal bonuses to nominee. It would also comprise minimum 5% of entire premium paid till the holder’s death date.
• Speaking of the tax benefits attached to this Aegon Life NPS Scheme, the benefits are entitled to premium and the claim. Exemption under Section 80CCC is applied on the premium amount, wherein tax is not applied. The same goes for the claim received, which is levied under the Section 10(10D) of Income Tax Act.

Eligibility Criteria for Aegon Life Guaranteed Income Advantage Insurance Plan

However, this Aegon Life Pension Plan enforces a certain set of criteria’s, based on which the granting is done. Make sure you adhere by the criteria’s of this Aegon Life NPS Scheme.

• Age criteria: 20 to 55 years
• Vesting age: 85 years.
• Policy Period: 85 – entry age
• Premium to be paid per year: ranges and relies upon the choice of cover, age, PPT and also term opted.
• Return guaranteed: Rs.1 lakh with no maximum limit
• Payment term: 15 to 20 years
• Intervals of premium payments allowed: half yearly, monthly or even annually.

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Aegon Life Pension Plans / Retirement Plans – Conclusion

If you wish to choose the Aegon Life Retirement Plan, we suggest it would be a great idea, which renders ample of benefits. The best you can do is, plan your retirement early, so you save up a lot of bucks and enjoy them later on in life.

The retirement period can bring your income source to a hold, but this must not be an obvious. You can create a new source of income through the Aegon Life NPS, in you relaxing period of life. You can easily apply for the plan online, or choose to go with an intermediary, who would briefly explain the procedure and benefits.

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