Private life insurer Aegon Religare Life today launched a guaranteed income insurance plan which offers long-term life cover along with regular guaranteed income of 7.5 percent of the assured sum annually.
“A guaranteed income plan is a good way to battle the effects of inflation and get life cover as well. 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,” Chief Financial Officer and appointed actuary KS Gopalakrishnan said while launching the plan.
The plan offers the policyholder an assured annual return of 7.5 percent of the assured sum after the end of the policy’s premium payment term until the age of 85.
Aegon Religare Life,a joint venture between global firm Aegon,domestic firms Religare and Bennett,Coleman & Company,which owns the Times Group,was launched in July 2008.