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Aegon Religare Life Insurance (ARLI) has launched a regular guaranteed income plan, which offers long time life cover along with regular guaranteed income. After the end of the policy's premium payment term, the plan offers the policyholder 7.5 per cent of the sum assured, every year until the age of 85, said a release issued by the company.
Mr K. S. Gopalakrishnan, Chief Financial Officer and Appointed Actuary, Aegon Religare Life Insurance said, “With the times being uncertain, we felt a strong customer need for a guaranteed income plan offering a good life cover and regular payouts to meet day-to-day needs.”
The plan offers a fixed policy term of 85 years less the age at entry with a minimum term of 30 years. One can choose the premium payment term from 10, 15 or 20 years. The minimum entry age is 20 years and the maximum is 50 years or 55 years, depending on the policy tenure. The maximum age at maturity is 85 years and minimum sum assured is Rs 1 lakh.
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