AEGON Group Term Plus Life Insurance Plan and Policy - This is a Non-Linked Non-Participating One Year Renewable Term Insurance Plan. This plan ensure with financial security need and serves as an ideal way for employers / group administrators to reinforce their bond with their members. This plan provides benefits to groups such as Employer-Employee, Non Employer-Employee and EDLI groups who seek insurance protection at a nominal cost.
|Maturity Benefits||No maturity benefit or any kind of survival benefit payable to the insured member on coverage expiry date.|
|Surrender Benefit||In case the master policyholder surrenders the policy, an insured member can request the company in writing to continue the policy as an individual policy for the outstanding term as per the certificate of insurance issued to the member, wherever applicable in accordance with the terms and conditions of the policy.
For members who dont wish to continue the cover in such cases, the unexpired premium in lieu of such lives shall be payable as the surrender value.
No surrender value is applicable for monthly mode policies.
|Plan Options Benefits||The plan offers four Benefit Options:
1) Silver: In case of death of the member, Sum Assured will be paid to the claimant.
2) Gold Option 1: This option covers the employees/members against Silver Benefit plus Accidental Death;
3) Gold Option 2: This option covers the employees/members against Silver Benefit plus Accidental Dismemberment;
4) Platinum: This option covers the employees/members against Silver Benefit plus Accidental Death plus Accidental Dismemberment.
|Minimum Entry Age||14 Years|
|Maximum Entry Age||86 Years - for Silver;
75 Years - for Gold & Platinum;
|Policy Term||1 Year (Yearly Renewable)|
|Minimum Group Size||10 members - for Employer-Employee;
20 members - for EDLI Schemes;
50 members - for Others;
|Premium Payment Term||same as Policy Term|
|Minimum Sum Assured||Rs. 5,000/- (per member);
Rs. 50,000/- (per policy);
|Maximum Sum Assured||No limit subject to underwriting|
AEGON Group Insurance Plans and Policy