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Get back

what you give.

AEGON Religare
Save Guard Insurance Plan
A life insurance plan which returns your premium

AEGON Religare Save Guard Insurance Plan - a life insurance plan

which provides you life cover like any term insurance plan but ensures
all your premiums are returned at the end of the Policy Term.

How do you apply for AEGON Religare

Save Guard Insurance Plan?

The Surrender Value is calculated as below:


For In-force policies: A guaranteed Surrender Value Factor *

All premiums paid till date (excluding any extra premium, rider
premium & taxes).

For Paid-Up Policies: A guaranteed Surrender Value Factor *

All premiums paid till date on which the policy became paid up
(excluding any extra premium, rider premium & taxes).

Step 1 Choose the amount of protection you need

Step 2 Decide on the term of your policy
Step 3 Our Life Advisor will calculate the premium you will have to pay

Key Advantages of the AEGON Religare

Save Guard Insurance Plan
1. Sum Assured in case of death

Guaranteed Surrender Value Factor of the year in which the request

for surrender is received will be considered for Surrender Value
The Company may declare special Surrender Value Factors that are
higher than the guaranteed Surrender Value Factors. The special
Surrender Value Factors will be decided by the Company from time to
time with prior approval from IRDA.

2. Option to choose the Death Benefit option from the two available

Tax Benefit

3. Premiums paid are returned on survival till maturity

Tax benefits are available as per the prevailing tax laws. Please consult
your tax advisor for details.

4. Choice of Policy Term

5. Availability of rider

Maturity: At the end of the Policy Term, you will get back the sum of all
premiums paid by you excluding any rider premium, tax or extra
premium paid for inforce policies and Paid-up Sum Assured in case of
Paid-up policies. The plan ceases to exist on payment of the maturity
Death Benefit: There are 2 death benefits options to choose from:

Option I: With inbuilt Accidental Death Benefit: In case of death

Sum Assured will be paid to the nominee. In case of death due to an
accident, an additional benefit amounting to the Sum Assured will
be paid to the nominee. The maximum Sum Assured under this
option is restricted to `1 Crore.
Option II: Without inbuilt Accidental Death Benefit: In case of
death, Sum Assured will be paid to the nominee.

Surrender Benefit: The Policy can be surrendered any time after

payment of at least first three full years premiums. Surrender Value
will be payable after completion of first three policy years.

You have the option to customise your policy by adding AEGON
Religare CI Rider (UIN: 138C001V01). The premium for this rider is
collected over and above the premium for the base plan. Sum Assured
under the rider is paid out if the Life Assured is diagnosed with any of
the covered critical illnesses. The following illnesses are covered
under the rider:


Coronary Artery Bypass Surgery

Heart Attack (Myocardial Infarction)

Kidney failure (End-stage Renal Failure)

Major Organ Transplant



Heart Valve Surgery

Surgery for a disease of Aorta

Please read the rider brochure to know the rider in detail.

Entry Age

Minimum 18 years completed

Maximum 55 years last birthday

Maximum Maturity Age

65 years last birthday for 10 years

Policy Term

70 years last birthday for 15 years

Policy Term

75 years last birthday for 20 years

Policy Term

Minimum Sum Assured

` 2,00,000

Maximum Sum Assured

Option I: With inbuilt Accidental

Death Benefit - Maximum Sum
Assured under this option is capped
at `1 Crore

Option II: Without inbuilt Accidental

Death Benefit: No Limit

Annualised Premium

Minimum: `2,860 p.a.

Policy Term

10 years, 15 years, 20 years

Premium Payment Term


Equal to the Policy Term

Premium Payment Mode* Annually, Half Yearly & Monthly

#The age at entry criteria is for the life to be assured. Some of the
circumstances when the Life Assured and Policyholder may be
different are as below:

Husband proposes the policy in the name of his spouse & vice versa

Parent proposing the policy in the name of the child. Where child is
minimum 18 years of age and vice versa.

There may be other circumstances wherein the Policyholder and the

Life Assured are different. The company will follow the principle of
insurable interest in this regard.
* The modal factor for modes other than Annual mode will be: Half
yearly Premium - Annual Premium x 0.512; Monthly Premium - Annual
Premium x 0.087

Other Features
Policy Loan: Policy loan is not available under the policy.

Discontinuance of Policy Premium within three policy years

On non payment of premium within Grace Period, the policy will lapse
and all the benefits including life insurance cover will terminate. You
can reinstate the policy within 2 years from the date of first unpaid
premium by making payment of all the outstanding premiums plus
applicable interest thereon. If policy is not reinstated within the
reinstatement period, the policy will automatically stand terminated.
Discontinuance of Policy Premium after first three policy years
On non payment of premium any time after payment of first three
policy years premium, the policy does not lapse but continues with
Paid-up Sum Assured.
Paid-up Sum Assured in case of death is calculated as (Premiums paid
/ Premiums payable) * Sum Assured. Paid-up Sum Assured in case of
maturity is calculated as (Premiums paid / Premiums payable) *
Premiums payable over the Policy Term.
The Paid-up Sum Assured will be paid on maturity. If the Policy is in
Paid-up status, Death Benefit will be paid up Sum Assured.
Reinstatement: You can apply for reinstatement of the lapsed or Paidup policy within two years from the due date of the first unpaid
premium (Reinstatement Period). In case of reinstatement, the
Policyholder needs to pay all unpaid premium with interest.
The reinstatement is subject to the following conditions:

Satisfactory evidence of insurability of the Life Assured; and

Payment in full of an amount equal to all the policy premiums with

interest due but unpaid till the effective date of reinstatement.

If you fail to reinstate a Paid-up policy within the two year period from
the date of first unpaid premium, the policy will continue with Paid-up
Sum Assured.
Grace Period: You have 15 days for policies under monthly mode and
30 days for policies under all other modes from the Premium Due
Date to pay the premium. If you fail to pay the premium during the
grace period, the policy will terminate along with all the benefits. In
case of death during the grace period, the death benefit is reduced by
an amount equal to the outstanding premium.
Free Look Period: If you are not satisfied with any of the terms and
conditions of the policy, you may return the policy document to the
Company for cancellation within:
n 15 days from the date you received it, if your policy is not purchased
through Distance marketing*

In case purchased through distance marketing*, 30 days from the

date you received the policy

Upon such cancellation, you will be paid back the premiums after
deducting stamp duty, proportionate premium and medical
examination charges, if any.

War, terrorism, invasion, act of foreign enemy, hostilities, civil war,

martial law, rebellion, revolution, insurrection, military or usurper
power, riot or civil commotion. War means any war whether
declared or not

Taking or absorbing, accidentally or otherwise, any intoxicating

liquor, drug, narcotic, medicine, sedative or poison, except as
prescribed by a licensed doctor other than Life Assured

The policy will terminate on payment of this amount and all rights,
benefits and interests under this policy will stand extinguished.
*Distance marketing: Distance marketing includes every activity of
solicitation (including lead generation) and sale of insurance
products through the following modes: (i) Voice mode, which
includes telephone-calling (ii) Short Messaging service (SMS) (iii)
Electronic mode which includes e-mail, internet and interactive
television (DTH) (iv) Physical mode which includes direct postal mail
and newspaper & magazine inserts and (v) Solicitation through any
means of communication other than in person.

Assignment and Nomination


Service Tax: Service tax or any other tax will be levied as per prevailing
tax laws.

Suicide Exclusion: If death occurs due to suicide within one year from
the date of inception of the policy or within one year from the date of
reinstatement of the policy, Death Benefit is refund of the
premium(s) paid.
Accidental Death Benefit Exclusion: Accidental Death Benefit shall
not be payable if death is caused directly or indirectly by any of the
n Service in the armed forces at the time of declared or undeclared
war or while under orders for war like operations or restoration of
public order

Self-destruction or any attempted self-destruction or self-inflicted

injury while sane or insane

Accident occurring while or because the Assured is under the

influence of alcohol or any non-prescribed drug

Engaging in or taking part in: motorised racing of any kind;

professional sports; hazardous activities, including but not limited
to scuba diving, boxing, mountaineering or rock climbing; flying or
any other aerial activity, except as a fare paying passenger in a
regular scheduled commercial aircraft

Arising or resulting from the Assured committing any breach of law

with criminal intent

Assignment: An assignment of the Policy can be made by an

endorsement on the Policy itself or by a separate instrument signed
in either case by the assignor specifically stating the fact of
assignment and duly attested. The first assignment can be made
only by You. Assignment shall be effective, from and upon the
service of a written notice to the Company together with the
endorsement or instrument or a copy thereof duly certified to be
correct by both the assignor and the assignee. Assignment will not
be permitted where the policy is issued under the Married
Womens Property Act, 1874 and conditions apply to assignments
of policies issued to partnerships or Hindu Undivided Families.
Nomination: You may at any time during the Policy Term make a
nomination for the payment of the benefits under the Policy in the
event of death of the Life Assured. Where the nominee is a minor,
an Appointee, who is not a minor, will necessarily, be appointed by
You to receive the death benefits during the minority of the
nominee. Nomination can be made by communicating the same in
writing to the Company. The Nominee can be changed by You at
any time during the term of the Policy and any such change shall
vacate earlier nomination automatically. Nomination will not be
permitted if You are not the Life Assured under the Policy.

The Company does not express any opinion on the validity or legality
of the assignment or nomination. An assignment cancels a
nomination automatically.
In absence of the nominee, the Death Benefit will be paid to your legal

About AEGON Religare Life Insurance

AEGON, one of the worlds largest life insurance and pension groups,
Religare, one of Indias leading integrated financial services groups
and Bennett, Coleman & Company, Indias largest media house, have
come together to launch AEGON Religare Life Insurance Company

AEGON, businesses serve over 40 million customers in over 20

markets throughout the Americas, Europe and Asia, with major
operations in the United States, the Netherlands and the United
Kingdom. With headquarters in The Hague, The Netherlands, AEGON
companies employ almost 28,000 people worldwide. It has more than
160 years of experience with its roots going back to 1844 and holds
26% equity in our Company.
Religare Enterprises Limited (REL)is one of the leading integrated
financial services groups of India. Its businesses are broadly clubbed
across three key verticals, Retail, Institutional and Wealth spectrum. It
has a pan-India reach in more than 2100 locations, spread across over
560 cities and towns and currently operates from 12 countries
globally. REL holds 44% equity in our Company.
Bennett, Coleman & Company Limited (BCCL), Indias largest media
house holds 30% equity in our Company. BCCL owns some of the
prominent brands such as Times of India, Economic Times, Times
Now, Radio Mirchi, Zoom and Femina.
Prohibition of Rebates
Section 41 of the Insurance Act, 1938 states:
1) No person shall allow or offer to allow, either directly or indirectly,
as an inducement to any person to take out or renew or continue an
insurance in respect of any kind of risk relating to lives or property in

India, any rebate of the whole or part of the commission payable or

any rebate of the premium shown on the policy, nor shall any person
taking out or renewing or continuing a policy accept any rebate,
except such rebate as may be allowed in accordance with the
published prospectuses or tables of the insurer.
2) Any person making default in complying with the provision of this
section shall be punishable with fine, which may extend to Five
Hundred Rupees.
Section 45 of Insurance Act, 1938 states: In accordance with Section
45 of Insurance Act, 1938, no policy of life insurance shall, after the
expiry of two years from the date on which it was effected, be called in
question by an insurer on the ground that a statement made in the
proposal of insurance or any report of a medical officer, or a referee,
or a friend of the insured, or in any other document leading to the
issue of the policy, was inaccurate or false, unless the insurer shows
that such statements was on material factor or suppressed facts
which it was material to disclose and that it was fraudulently made by
the Policyholder and that the Policyholder knew at the time of making
that the statement was false or that it suppressed facts which it was
material to disclose.
Product Name: AEGON Religare Save Guard Insurance Plan
UIN- 138N042V01

Insurance is the subject matter of the solicitation. IRDA Company

Registration No. 138. Registered Office : AEGON Religare Life
Insurance Company Limited, 2nd Floor, Paranjpe B Scheme, Subhash
Road, Near Garware House, Vile Parle (East), Mumbai 400 057.
ADVT No. IC/October 2012/1494

V No. i /October 2012

For More Details

Call 1800 209 9090