AEGON Religare Future Protect Plan

Name of Policy

AEGON Religare Future Protect Plan

Type of Policy

ULIP Endowment

Various Investment Options

Secure Fund Generate attractive investment income while providing the security of very low volatility risk since asset durations would Conservative be reasonably small.

Debt Fund Aims to generate attractive investment income by investing in a diversified portfolio of government debt, corporate debt Relatively safe and money market instrument of varying maturities.

Stable Fund Aims to maintain a balance between equity and debt exposure to have a stable and attractive long term return. It will also shift Moderate allocation between debt and equity to gain from asset price movements over medium to long term.

Accelerator Fund Invest in equities of various sectors to diversify the portfolio and generate attractive returns in the long term. It also has the Aggressive flexibility to invest in fixed interest assets and money market instruments up to 20%.




Entry age

Minimum: 7 ; Maximum: 60 years

Maturity Age

Max: 75 years

Policy Term(Fixed)

Min: 15 years

Max: 40 years                            

Premium Payment Term

Equal to Policy Term

Premium Payment Term

Annual, Semi Annual and Monthly


Annual- Rs 20,000

Semi Annual: Rs 30,000

Monthly: Rs 36,000

Minimum Sum Assured

Age less than 45 years

Min SA: Higher of 10 times of Regular AP or

(0.5 x Policy Term x AP)

Age more than 45 years

Min SA: Higher of 7 times of Regular AP or

   (0.25 x Policy Term x AP)

Maximum Sum Assured

(SA Multiple * AP)

Policy Term




SA Multiple




Top-Up Premium

Min: Rs 5,000

Top-Up Sum Assured

Top-up premium will increase the sum assured subject to






Premium Allocation Charge (on regular premiums)

Year 1       

Year 2-3       

Year 4-5       

Year 6-10       

Year 11 onwards






Top-up premium allocation charge is 3%

Policy Administration Charge

Annualized Premium                                         


Monthly charge

(as % of Annualized Premium)

Less than 36,000                                                    

36,000 to less than 50,000                                   

50,000 and above                                                    




This charge escalates at 5% per annum at the start of every policy year from the second policy year. This charge will not increase more than Rs. 500 per month.

Fund Management Charge (FMC)


Type of Fund


Secure Fund

1.00% p.a.

Debt Fund

1.10% p.a.

Stable Fund

1.35% p.a.

Accelerator Fund

1.35% p.a.

Life Cover



Let us assume a simple case:

  •      Your age: 30 years
  •      Sum assured: -Higher of 10 times of Regular AP or (0.5 x Policy Term x AP)
    •     20000*10= Rs 2,00,000
    •      0.5*15*20000= Rs. 1,50,000
    •      Therefore S.A= Rs. 2 Lakh
  •      Policy term: 15 years
  •      Premium: Rs. 20,000 p.a.

The life insurance component is miniscule, not exceeding 10 times your annual premium. If you really want life insurance, a good term plan will give you life insurance of about 500 times your annual premium – so you would rather avoid the fund.

Let’s see what you get:

  •       life cover plus Investment
  •      Of your first year premium of Rs. 20,000 p.a. 4.75%+ Mortality charge is removed. Most of this goes to your agent’s pocket. Only the remaining gets invested in the fund.
  •      Of your second year premium of Rs. 20,000 p.a. 4.18%+ Mortality charge gets removed again. Most of this again goes to your agent, and only the remaining gets invested.
  •       In addition to this, of your total fund, the fund management charge of ~1.35% is cut every year
  •      Instead, if this Rs. 20,000 p.a.had gone into a Systematic Investment Plan in a Mutual Fund, giving a return of approximately 15% a year on a five year average, not a single Rupee would have been deducted as policy charges. It would not take a mathematician to deduce that the returns here will be much better.


In summary, investments can deliver returns only if the costs are not so high.


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