MUMBAI: In line with the ongoing trend of launching term insurance plans with added benefits, Aegon Religare Life Insurance has recently launched a pure protection cover.
Apple iPhone 16 Launch
iPhone 16, iPhone 16 Plus launched: Check price, discounts
Apple Event 2024 Live Updates: iPhone 16 launch, Everything you need to know
The plan offers two death benefit - that is, amount available to the policyholder's nominees in case of his or her death - options. The first one is the regular option, which hands over the entire sum assured to the beneficiaries on the insured's demise.
The second one pays out the cover amount in two parts. While half of it is paid out after life assured ' s death, the balance - 3% of the sum assured - is paid out every month, for a period of five years. According to the company, the total payout amounts to 230% of the sum assured in this case.
The plan comes with an accidental death rider, where the cover is equal to the base sum assured. This apart, you can opt for three more riders - Critical Illness, Woman Care and Total and Permanent Disability - after paying the applicable premiums.
The minimum age at entry is 20 years, while the upper limit is 65 years; the maximum age at maturity is 75 years. The lowest cover that you can buy under the plan is Rs 10 lakh.
Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Artificial Intelligence(AI) Basics of Generative AI : Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View ProgramData Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program
Finance Financial Literacy - TDS, Budget, Income Tax Act, GST, Indirect tax By - CA Rahul Gupta, CA with 10+ years of domain experience, trainer View Program
Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View ProgramMarketing Future of Marketing & Branding Masterclass By - Dr. David Aaker, Professor at Haas School of Business View Program
Potential and the Future of Employment" width="300" height="80" />
HR & People Management Human Potential and the Future of Employment By - Lynda Gratton, Co-chair of the World Economic Forum Council on Work, Wages and Job Creation, Professor of Management Practice View Program
Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program
Finance Financial Reporting and Analytics By - Dr. C.P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program
Upside : Given that a pure term cover is a must-have in every individual ' s portfolio, you can look at this plan if you don' t have adequate protection cover already. The in-built accidental death benefit rider enhances the sum assured.
Downside : It is costlier than many online term plans available in the market, including Aegon Religare' s iTerm plan. While a 25-year-old non-smoker male will have to shell out over Rs 16,000 every year for a cover of Rs 1 crore under this term plan, the online version (minus the accidental death cover) will charge just over Rs 6,000 for an equivalent sum assured. If you are conversant with computers and the Internet, you can buy a term plan as well as an attached accidental death rider at much cheaper rates.
Subscribe to The Economic Times Prime and read the ET ePaper online.
Subscribe to The Economic Times Prime and read the ET ePaper online.
Prime Exclusives Investment IdeasStock Report PlusePaperWealth Edition