Savings Plan from AEGON Religare: Why Opt for One?

Finding the right investment plan is something that investors are constantly on the look-out for. Finding a plan which would help them gain higher returns and/or offer good tax-incentives are some of the key factors that investors have to bear in mind, while making their investment decisions. Investment in different financial instruments is very important, but more than that, financial protection is important so that one does not encounter any future financial liabilities.

Purchasing an insurance policy in today’s times has become absolutely essential to safeguard one’s financial status. Whether it is insuring one’s life, one’s home, vehicle, etc. there are many purposes for which these policies are bought. There are plenty of life insurance companies across the country, which not only offer financial protection (coverage) but also offer the benefit of being able to invest in the stock market thereby receiving the benefits of the market as well.

The saving plan from AEGON Religare is a very popular plan that is opted for by many Indians across the country. In fact, the AEGON Religare Guaranteed Growth Insurance Plan ensures investors that they receive guaranteed annual payouts at the time of maturity. The plan not only assures a limited premium payment term and tax benefits, as per the prevailing tax laws but also assures 150% guaranteed payout on a person’s premium amount. At the time of death of the life assured during the policy term, the future premiums are waived off and instead guaranteed annual payouts are payable to the nominee.

Many of these providers offer a variety of savings plans to people, which can easily be purchased online via the company’s website. Moreover, people can also compare these various savings plans that are offered by different companies before they take a decision. However, why should one buy a savings plan in the first place? A savings plan is considered to be a better investment option when compared to even a Public Provident Fund (PPF). Not only is it tax-saving, but the lock-in period is only for a period of seven years.

On the contrary, a PPF is for a period of 15 years and the whole (entire) amount after the period is tax-free. It is very easy to purchase this plan. All a person has to do is decide the amount of premium that they wish to pay and take the assistance of a life advisor to help in the completion of the application form. Once all the terms and conditions are completely understood and a person is absolutely convinced that it is the plan that they want, they have to issue a cheque in favour of the company.

Of course, there are different eligibility criteria that are required for a person to meet in case they want to purchase such as plan. The eligibility criteria are differentiated on the basis of the entry age, maturity age, policy term, premium payment term (PPT), annualised premium, premium payment frequency and the sum that has been assured.