Aegon Life Saral Jeevan Bima

Aegon Life Saral Jeevan Bima aims to simplify the process of buying and claiming term life insurance.

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Why buy this plan ?

What is Saral Jeevan Bima?

A Term Insurance policy is an important instrument in financial planning to ensure that your family is financially secured in your absence. Given the importance of Term Insurance, Insurance Regulatory and Development Authority of India (IRDAI) has introduced the concept of a standard term insurance plan called Saral Jeevan Bima.

Aegon Life Saral Jeevan Bima – a non-linked non-participating individual pure risk term life insurance plan – provides financial protection to the family, in case of the demise of the insured person during the policy term. This plan comes up with the simple benefit structure which helps the customer to make an informed choice and ensure financial security to the family.

Let us Understand the Plan with an Example

Mr. Ajay is a 30 year old male who opts for Aegon Life Saral Jeevan Bima Insurance Plan and following are the details about his policy.

Sum Assured – Rs. 25,00,000/- Policy Term – 10 years

Premium Payment Term – Regular Pay Yearly premium – Rs. 6,309/-

Death benefit amount payable

During waiting period of 45 days

After expiry of waiting period but before the date of maturity, provided the policy is inforce

In case of an accidental death

In case of death due to any other reason

Death due to any reason

Rs, 25,00,000/-

Rs. 6,309/-

Rs, 25,00,000/-

In case of an accidental death During waiting period of 45 days

355

In case of death due to any other reason During waiting period of 45 days

5

In case of death due to any reason After expiry of waiting period but before the date of maturity, provided the policy is inforce.

4

 

    ELIGIBILITY



    Age at Entry@    

    Minimum – 18 years | Maximum – 65 years

    Maximum Maturity Age@

    70 years

    Policy Term

    Minimum - 5 years | Maximum – 40 years

    Sum Assured

    Minimum - Rs.5,00,000/- | Maximum – Rs. 25,00,000/-

     

    Sum Assured would be offered in multiple of Rs. 50,000/- only

    Premium Payment Option

    • Single Pay – Pay only once
    • Regular Pay – Equal to policy term
    • Limited Pay – 5 Pay and 10 Pay

    Premium Payment Frequency#

    Yearly, Half-yearly, Monthly*

     

    *ECS/NACH or any other direct debit instrument will be mandatory under monthly mode policies.

    @All ages above (are in years) applicable as on last birthday

    #The modal loadings for Premium Payment mode other than Yearly mode will be:

    Half-yearly Premium = Annual Premium * 0.512

    Monthly Premium = Annual Premium * 0.087

     

    Rider Benefit

    Policyholder may avail benefits of Aegon Life AD Rider with this policy.

    In case of the death of the Life Assured due to an Accident during the Rider Term, an amount equal to the Rider Sum Assured is payable. This amount will be in addition to the death benefit under the Base Policy.

    Disclaimer

    • The brochure is not a contract of insurance.
    • The precise terms and conditions of this plan are specified in the policy contract
    • This product is underwritten by Aegon Life Insurance Company Limited - Sub-standard lives may be charged extra premiums as per the Insurer’s Underwriting Policy
    • Insurance cover is available under this product
    • This Product is available for sale through online mode