Aegon Life Insurance launches Digital Only POS Guaranteed Return Insurance Plan
Hyderabad, November 29, 2018: Aegon Life Insurance, India’s leading digital insurance company, today launches ‘POS Guaranteed Return Insurance Plan (GRIP)’ a Non-Linked Non-Participating Life Insurance Product with simple features and guaranteed benefits. The product is designed for customers who are looking at securing life goals with guaranteed returns.
Aegon Life has always aimed at providing solutions that hold value proposition to its customers. Aegon Life - POS GRIP is one such offering from its wide bouquet of life insurance solutions. Aegon Life wants the customer to attain tension free zone by keeping himself secured. They also recently launched the second leg of the “Aegon, toh tension Gone” campaign, through this campaign they are urging customers to not procrastinate buying adequate life insurance.
POS products are simple and easy to understand wherein the benefits under the product are predefined and disclosed upfront clearly to the customer. Also, the decision pertaining to acceptance/rejection of risk has to be communicated to the customer, within two working days, making the process very quick.
Commenting on the launch of the product, Mr. Vineet Arora, MD and CEO, Aegon Life Insurance said, “We are happy to announce the launch of ‘POS GRIP’ which helps a person get the policy quickly and also receive guaranteed benefits. It is in line with our philosphy of launching simple easy to understand products for the customers. It provides tax efficient assured returns for customers who like to invest in fixed return instruments. It is easy to understand and can be bought online at the customers convenience”
POS GRIP provides dual benefits of protection and savings. The benefit which a customer will receive at end of the Policy Term is guaranteed and is stated up-front while buying the policy. The guaranteed additions equal to 10% (every year) and one off Loyalty Booster equals to 25% (at the end of the policy term) of the basic sum assured .
One can avail this product by paying reasonable premiums either monthly/semi-annually or annually. The guaranteed maturity payout will be 225% to 325% of the Basic Sum Assured. The premiums paid and benefits received are eligible for tax benefits under Section 80(C) and Section 10(10D), upon fulfilment of the conditions laid down for availing such benefits.