Insurance policies have been designed to reduce the financial impact of unpredictable events. Not only do they offer protection against the financial difficulty faced after any unfortunate event, but also they are looked upon as investment vehicles.
A typical life insurance plan would only offer death benefit for a small premium. However, prospective buyers look for investment benefit along with life protection. Furthermore, they also want versatility and liquidity in investment. Understanding such demands of the prospective investors, AEGON Religare came up with a revolutionary product known as iMaximize Plan.
What is iMaximize Plan?
This plan is an innovative ULIP policy that offers the versatility of choosing the underlying funds as well as significant amount of life cover. Unlike the existing Unit Linked Insurance Policies in the market, this plan can be purchased online. You can simply register for this plan online, without having to undergo through the cumbersome process of availing a quote, assessing the underlying fund, etc.
What are the Key Benefits of Availing this Plan?
There are several key benefit of availing this plan. Some of the outstanding benefits that will compel you to purchase this policy include:
- Partial Withdrawal Facility
This plan provides you the unique ability of partially withdrawing the investment corpus after the completion of first five policy years. You can withdraw up to 20% of the total fund value amount each year before the policy matures.
- Choice of Choosing 3 Funds
To assess the risk appetite of different investors, AEGON offers three distinct funds to choose in this ULIP. The three funds included in this plan are Blue Chip Equity Fund, Secure Fund, and Debt Fund.
- Top-Up Facility
To improve the returns and seek capital appreciation, this policy offers top-up plans to invest additional amount.
- Returns Are Tax Free
Very few ULIPs in India offer tax free returns. iMaximize Plan is tax-free under Section 10 (10D) of the Income Tax Act, 1961.