AEGON Life is an excellent health insurance provider in India. The Educare Advantage Plan of AEGON Life is one of the best products of this company. To fulfill the dream of your child, this plan is best. It will give coverage to the future expenses and the education expenses of your child. In this article, I will discuss this plan in detail.
Benefits of this plan:
1. This plan provides guaranteed pay-outs
2. According to the prevailing tax laws in India, you will get tax benefits
3. Three premium terms of payment are available from which you can choose
4. The starting of the lumpsum payout takes place in the last 4 years of the policy. So do the planning of the policy according to the time when you will require the funds for the education of your child
Working of AEGON Life Educare Advantage Plan:
You can select the term of the policy, while doing this policy. You can also choose the amount of protection according to your requirements. In case of death of the sum assured, 10 X base premium/sum assured along with the bonus. In case of survival of the life assured, 20% of the sum assured will be received by him. The guaranteed surrender value will be acquired by the policy, after the payment of the premium of the first year of the policy.
Payment of Premium:
For a policy term of 14 years, the term of premium payment is 10 years. and for a policy term of 16 years, the term of premium payment is 12 years. And for a policy term of 20 years, the term of premium payment is 16 years. You can pay the premium monthly or half-yearly or yearly. In the case of premium payment (yearly or half-yearly), the policyholder will get a grace period of 30 days. In the case of premium payment (monthly), the policyholder will get a grace period of 15 days.
AEGON Life ADDD rider is available in this plan
Eligibility for AEGON Educare Advantage Plan:
|Age at entry||Minimum age of entry – 20 years Maximum age at entry- Age must be 60 years for a policy term of 14 years, Age must be 59 years for a policy term of 16 years, Age must be 55 years for a policy term of 20 years,|
|Age at maturity||Maximum age at maturity – 75 years|
|Sum assured||Minimum sum assured should be Rs1,00,000 No limit on the maximum sum assured|
Conclusion: These are the details of the AEGON Life Educare Advantage Plan. For more details visit their official site