AEGON RELIGARE- Content0 Repaired)

8/8/2019 AEGON RELIGARE- Content0 Repaired)

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ACKNOWLEDGEMENT

It gives me immense pleasure, having done a project on an interesting

and knowledgeable topic like Competitive Analysis at Aegon

Religare.

This project has not only widened my horizon as far as academics are

concerned but also helped me to enlarge my knowledge bank.

Marketing Management and Human resources are not topics, which

could be handled with certain amount of casualty. It requires a deep

study and hard work, which is key to success. There are many people

associated with this project without which this project would not have

been possible.

I thank my Institute who has given me an opportunity to show my skills. I

also thank all my nearer and dearer ones without whose support this

project would not been possible.

I would like to thankMr. Bhargav Thakkar , Business Manager and my

company guide, who allow me to do this project in Aegon Religare Life

Insurance successfully.

I am deeply grateful to Mr. Ashutosh Chavada, my faculty guide for his

ever willing help and guidance to complete my project successfully.

I would like to thank to Mr.Hardev Singh Deora ,Business Head for his

Nobel inspiration, keen interest, constant supervision and ever willing

help throughout the course of this study.

Above all I would like to thank all contacted persons of firm who took

out valuable time to answer my queries and gave me full information

about insurance industry and Aegon Religare life insurance.


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I extend my sincere gratitude towards my parents, who have always

encouraged me and gave suggestions as how to work on project. They

always stand by me in solving all my queries. Their support has alwaysmotivated me.

Above all it gives me immense pleasure to thank authors of various

books who indirectly helped me in gaining knowledge about insurance

industry.


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PREFACE

This is the 21st century. Today every person wants to be a master in the field they

are in. The practical training is a life of management student. In modern world the

importance of management is increasing day by day. Industrial training provide a

student sufficient knowledge to develop an education to connect theory and

practical.

Indian insurance industry is emerging rapidly after year 2000. To survive in

this highly competitive scenario, managers are being pressured to improve

quality, recruit quality and skilled people and eliminate inefficiency. The

collective efforts of the employer, managers and other relative people

assume relevance in this context. And this is where marketing

management and human resources play important role.

To get knowledge of above question and to fulfill the requirements for

my project on Competitive Analysis at Aegon Religare Life Insurance,

I have worked in Aegon Religare and searched some internet sites.

I am student of 3rd semester MBA. Being a part of our course, I have done

Industrial Training at AEGON RELIGARE LIFE INSURANCE CO. LTD. from

SIKKIM-MANIPAL UNIVERSITY.


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On the basis of my study, I have included all topics as the important

aspect of Competitive Analysis at Aegon Religare Life Insurance.

In this project I have tried to give attention to all the topics and study

them in depth. But I would still like to receive all sorts feedback to

enhance my knowledge on the topics as far as this industry is concern.

It gives me great pleasure to present this project report.

TABLE OF CONTENTS.


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Acknowledgement 1

Preface 3

Table of Content 5

SECTION:A INTRODUCTION 8

A.1 ABOUT COMPETITOR ANALYSIS 9

SECTION:B INDUSTRY PROFILE 12

B.1 HISTORY OF INSURANCE 12

B.2 GLOBAL INSURANCE INDUSTRY 21

B.3 FUNCTIONING OF INSURANCE INDUSTRY 25

B.4 INSURANCE AND ECONOMY 38

SECTION:C COMPANY PROFILE 43

C.1 ABOUT AEGON 44

C.2 ABOUT RELIGARE 49

C.3 ABOUT AEGON RELIGARE 52

1 VALUES & VISION 54

2 LEADERSHIP TEAM 55

3 PRODUCT 57

4 PRESS RELEASES 89


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5 PRESS COVERAGE 93

6 NAV 96

7 TVC 97

SECTION: D CUSTOMER SERVING 99

SECTION: E FINDINGS 102

SECTION: F SWOT ANALYSIS 104

SECTION: G MARKET SHARE

SECTION: H OBJECTIVE OF THE STUDY

SECTION: I CONCLUSION 109

EXPERIENCE 110

SUMMARY

RECOMMENDATION

BIBLIOGRAPHY


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Section A

INTRODUCTION.

A.1 ABOUT COMPETITOR ANALYSIS


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Competitor Analysis is an important part of the strategic planning

process. This revision note outlines the main role of, and steps in,

competitor analysis

Why bother to analyze competitors?

Some businesses think it is best to get on with their own plans and

ignore the competition. Others become obsessed with tracking the

actions of competitors (often using underhand or illegal methods).

Many businesses are happy simply to track the competition, copying

their moves and reacting to changes.

Competitor analysis has several important roles in strategic planning:

To help management understand their competitive

advantages/disadvantages relative to competitors

To generate understanding of competitors past, present (and most

importantly) future strategies

To provide an informed basis to develop strategies to achieve

competitive advantage in the future

To help forecast the returns that may be made from future

investments (e.g. how will competitors respond to a new product or

pricing strategy?

Questions to ask

What questions should be asked when undertaking competitor

analysis? The following is a useful list to bear in mind:

Who are our competitors? (see the section on identifying competitors

further below)

What threats do they pose?

What is the profile of our competitors?

What are the objectives of our competitors?

What strategies are our competitors pursuing and how successful are

these strategies?


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What are the strengths and weaknesses of our competitors?

How are our competitors likely to respond to any changes to the way

we do business?

Sources of information for competitor analysis

Davidson (1997) describes how the sources of competitor information

can be neatly grouped into three categories:

Recorded data: this is easily available in published form either

internally or externally. Good examples include competitor annual

reports and product brochures;

Observable data: this has to be actively sought and often assembled

from several sources. A good example is competitor pricing;

Opportunistic data: to get hold of this kind of data requires a lot of

planning and organization. Much of it is anecdotal, coming from

discussions with suppliers, customers and, perhaps, previous

management of competitors.

The table below lists possible sources of competitor data using

Davidsons categorization:

Recorded Data Observable Data Opportunistic Data


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Annual report &

accountsPricing / price lists Meetings with suppliers

Press releasesAdvertising

campaignsTrade shows

Newspaper articles Promotions Sales force meetings

Analysts reports Tenders Seminars / conferences

Regulatory reports Patent applications Recruiting ex-employees

Government reportsDiscussion with shared

distributors

Presentations /

speeches

Social contacts with

competitors

In his excellent book [Even More Offensive Marketing], Davidson likens

the process of gathering competitive data to a jigsaw puzzle. Each

individual piece of data does not have much value. The important skill

is to collect as many of the pieces as possible and to assemble them

into an overall picture of the competitor. This enables you to identify

any missing pieces and to take the necessary steps to collect them.

What businesses probably already know their competitors

Overall sales and profits

Sales and profits by market

Sales by main brand

Cost structure


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Market shares (revenues and volumes)

Organization structure

Distribution system

Identity / profile of senior management

Advertising strategy and spending

Customer / consumer profile & attitudes

Customer retention levels

What businesses would really like to know about competitors

Sales and profits by product

Relative costs

Customer satisfaction and service levels

Customer retention levels

Distribution costs

New product strategies

Size and quality of customer databases

Advertising effectiveness

Future investment strategy

Contractual terms with key suppliers

Terms of strategic partnerships


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SECTION B

INDUSTRY PROFILE

B.1 About the Insurance Sector in India

y Insurance sector is an opportunity for India.

y This business is growing at the rate of 18-22 per cent annually.

y Presently it covers market of RS.450 billion.

y Together with banking sector it contributes about 7% to GDP.


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y Gross premium collection is about 2% of GDP.

y Still 80% of Indian population is without life insurance.

y This is an indicator that growth potential for the insurance sector

is immense.

y Insurance sector contribute a lot in economic development.

y It provides long term fund for infrastructure development.

y It is estimated that over the next ten years India would require

investments of the order of one trillion US dollar.

y The Insurance sector, to some extent, can enable investments in

infrastructure development to sustain economic growth of the

country.

There are two legislations that govern the sector-

The Insurance Act- 1938 The IRDA Act- 1999.

Historical Perspective

y In 1818 it was conceived as a means to provide for English

Widows.

y The Bombay Mutual Life Insurance Society started its business in

1870.


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y It was the first company to charge same premium for both Indian

and non-Indian lives.

y The Oriental Assurance Company was established in 1880.

y Till the end of nineteenth century insurance business was almost

entirely in the hands of overseas companies.

y Insurance regulation formally began in India with the passing of

the LifeInsurance Companies Act of 1912 and the provident fund

Act of 1912.

y Several frauds during 20's and 30's sullied insurance business in

India.

y By 1938 there were 176 insurance companies.

y The first comprehensive legislation was introduced with the

Insurance Act of 1938 that provided strict State Control over

insurance business.

y The insurance business grew at a faster pace after

independence.

y The Government of India in 1956, brought together over 240

private life insurers and provident societies under one

nationalized monopoly corporation and Life Insurance

Corporation (LIC) was born.

Nationalization was justified on the grounds that it would create much

needed funds for rapid industrialization.

Important milestones in the life insurance business in India:


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Insurance Sector Reforms


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In 1993, Malhotra Committee- headed by former Finance Secretary

and RBI Governor R.N. Malhotra- was formed to evaluate the Indian

insurance industry and recommend its future direction. The Malhotra

committee was aimed at creating a more efficient and competitive

financial system suitable for the requirements of the economy keeping

in mind the structural changes currently underway and recognising

that insurance is an important part of the overall financial system where

it was necessary to address the need for similar reforms. In 1994, the

committee submitted the report and some of the key

recommendations included:

i) Structure: Government stake in the insurance Companies to be

brought down to 50%. Government should take over the holdings of

GIC and its subsidiaries so that these subsidiaries can act as

independent corporations. All the insurance companies should be

given greater freedom to operate.

ii) Competition: Private Companies with a minimum paid up capital of

Rs.1bn should be allowed to enter the sector. No Company should deal

in both Life and General Insurance through a single entity. Foreigncompanies may be allowed to enter the industry in collaboration with

the domestic companies. Postal Life Insurance should be allowed to

operate in the rural market. Only one State Level Life Insurance

Company should be allowed to operate in each state.

iii) Regulatory Body: The Insurance Act should be changed. An

Insurance Regulatory body should be set up. Controller of Insurance- a

part of the Finance Ministry- should be made independent

iv) Investments: Mandatory Investments of LIC Life Fund in government

securities to be reduced from 75% to 50%. GIC and its subsidiaries are


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not to hold more than 5% in any company (there current holdings to be

brought down to this level over a period of time)

v) Customer Service: LIC should pay interest on delays in payments

beyond 30 days. Insurance companies must be encouraged to set up

unit linked pension plans. Computerization of operations and updating

of technology to be carried out in the insurance industry.

The committee felt the need to provide greater autonomy to insurance

companies in order to improve their performance and enable them to

act as independent companies with economic motives. For this

purpose, it had proposed setting up an independent regulatory body-

The Insurance Regulatory and Development Authority.

Reforms in the Insurance sector were initiated with the passage of the

IRDA Bill in Parliament in December 1999. The IRDA since its

incorporation as a statutory body in April 2000 has fastidiously stuck to

its schedule of framing regulations and registering the private sector

insurance companies. Since being set up as an independent statutory

body the IRDA has put in a framework of globally compatible

regulations. The other decision taken simultaneously to provide the

supporting systems to the insurance sector and in particular the life

insurance companies was the launch of the IRDA online service fo r

issue and renewal of licenses to agents. The approval of institutions for

imparting training to agents has also ensured that the insurance

companies would have a trained workforce of insurance agents in

place to sell their products.

Present Scenario

The Government of India liberalised the insurance sector in March 2000

with the passage of the Insurance Regulatory and Development

Authority (IRDA) Bill, lifting all entry restrictions for private players and


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allowing foreign players to enter the market with some limits on direct

foreign ownership. Under the current guidelines, there is a 26 percent

equity cap for foreign partners in an insurance company. There is a

proposal to increase this limit to 49 percent.

The opening up of the sector is likely to lead to greater spread and

deepening of insurance in India and this may also include restructuring

and revitalizing of the public sector companies. In the private sector 22

life insurance companies have been registered. A host of private

Insurance companies operating in life segments have started selling

their insurance policies since 2001. Table shows the current market

players in the life Insurance Industry (Source IRDA).

Sr. No. Name of the Company

1 Aegon Religare Life Insurance Company Limited

2 Bajaj Allianz Life Insurance Company Limited

3 Birla Sun Life Insurance Co. Ltd

4 HDFC Standard Life Insurance Co. Ltd

5 ICICI Prudential Life Insurance Co. Ltd

6 ING Vysya Life Insurance Company Ltd.

7 Life Insurance Corporation of India

8 Max New York Life Insurance Co. Ltd

9 Met Life India Insurance Company Ltd.

10 Kotak Mahindra Old Mutual Life Insurance Limited

11 SBI Life Insurance Co. Ltd

12 Tata AIG Life Insurance Company Limited

13 Reliance Life Insurance Company Limited.14 Aviva Life Insurance Company India Limited

15 Sahara India Life Insurance Co, Ltd.

16 Shriram Life Insurance Co, Ltd.

17 Bharti AXA Life Insurance Company Ltd.


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Innovative products, smart marketing and aggressive distribution. That's

the triple whammy combination that has enabled fledgling private

insurance companies to sign up Indian customers faster than anyone

ever expected. Indians, who have always seen life insurance as a tax

saving device, are now suddenly turning to the private sector and

snapping up the new innovative products on offer.

The growing popularity of the private insurers shows in other ways. They

are coining money in new niches that they have introduced. The state

owned companies still dominate segments like endowments and

money back policies. But in the annuity or pension products business,

the private insurers have already wrested over 33 percent of the

market. And in the popular unit-linked insurance schemes they have a

virtual monopoly, with over 90 percent of the customers.


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The private insurers also seem to be scoring big in other ways- they are

persuading people to take out bigger policies. For instance, the

average size of a life insurance policy before privatization was around

Rs 50,000. That has risen to about Rs 80,000. But a rejuvenated LIC is also

trying to fight back to persuade new customers.

B.2 GLOBAL INSURANCE INDUSTRY


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Globally, insurers increasingly are pressured by the demands of their

clients. The development of global insurance industry over the past few

years was influenced by booming stock markets which enabled

considerable capital gains to be made in non life business. Increase in

insurers equity capital increased underwriting capacity, while demand

did not develop at the same pace, resulting in decrease in insurance

policies prices. The stock market boom of the past few years led to

demand for unit linked insurance products.

The global insurance industry is growing at rapid pace. Most of the

markets are undergoing globalization. Lot of mergers and acquisition

are taking place in the insurance world. The rapidity in the industry,

technological improvement has resulted in pressures on a few

economic parameters. The world insurance industry is at peak of its

globalization process.

Global insurance market is increasing by an average of six percent

per year since 1990. Insurance companies have collected $2443.7


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billion premium world wide according to the global development of

premium volume in 144 countries in 2005. $1521. 3 has been generated

as life insurance premium and $922.7 as non life insurance premium.

The US accounted for 35% of global life and non life premium, Japan

had global share of 21%, and UK was having 10% of global share.

Influence on Indian insurance industry:

In this era of globalization, insurance companies face a dynamic

global environment. Dramatic changes are taking place owing to the

internationalization of activities, appearance of new risk, new types of

covers to match with new risk situations, and unconventional and

innovative ideas on customer services. Low growth rates in developed

markets, changing customers needs, and the uncertain economic

conditions in the developing world are exerting pressure on insurers

resources and testing their ability to survive. Now the existing insurers

are facing difficulties from non-traditional competitors those are


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entering the retail market with new approaches and through new

channels.

India has a rapidly growing middle class and this section can

afford to buy insurance products. This shows the attraction that the

Indian market holds for foreign insurers who have been putting pressure

on developing countries as well as on India to open up its market.

Life insurance penetration as a % of GDP

United kingdom 8.9%

Japan 8.3%

Korea 7.3%

United states 4.1%

Malaysia 3.6%

India 3.0%


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China 1.8%

Brazil 1.3%

Source: - www.indianinsuranceresearch.com

B.3 FUNCTIONING OF INSURANCE INDUSTRY

Insurers business model:


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Profit = earned premium + investment income - incurred loss -

underwriting expenses

Insurers make money in two ways: (1) through underwriting, the

processes by which insurers select the risks to insure and decide how

much in premiums to charge for accepting those risks and (2) by

investing the premiums they collect from insured.

The most difficult aspect of the insurance business is the underwriting of

policies. Using a wide assortment of data, insurers predict the likelihood

that a claim will be made against their policies and price products

accordingly. To this end, insurers use actuarial science to quantify the

risks they are willing to assume and the premium they will charge to

assume them. Data is analyzed to fairly accurately project the rate of

future claims based on a given risk. Actuarial science uses statistics and

probability to analyze the risks associated with the range of perils

covered, and these scientific principles are used to determine an

insurer's overall exposure. Upon termination of a given policy, the


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as soon as they are collected and continue to earn interest on them

until claims are paid out.

Naturally, the float method is difficult to carry out in an economical ly

depressed period. Bear markets do cause insurers to shift away from

investments and to toughen up their underwriting standards. So a poor

economy generally means high insurance premiums. This tendency to

swing between profitable and unprofitable periods over time is

commonly known as the "underwriting" or insurance cycle.

Finally, claims and loss handling is the materialized utility of insurance. In

managing the claims-handling function, insurers seek to balance the

elements of customer satisfaction, administrative handling expenses,

and claims overpayment leakages.

Investment management:

Investment operations are often considered incidental to the business

of insurance, and have traditionally viewed as secondary to


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underwriting. In the past risk management was the most important part

of business, whereas today the focus has shifted to fund management.

Investment income is a large component of insurance revenues, skilful

and careful management of funds. Insurance is a business of large

numbers and generates huge amount of funds over time. These funds

arise out of policyholder funds in the case of life insurance, and

technical and free reserves in the non-life segments. Time lag between

the procurement of premium and the payment of claim provides an

interval during which the funds can be deployed to generate income.

Insurance companies are among the largest institutional investors in the

world. Assets managed by insurance companies are estimated to

account for over 40% of the worlds top ten asset managers.

Returns on investments influence the premium rates and bonuses

and hence investment income will continue to be an important

component of insurance company profits. In l ife insurance, benefits

from insurance profits accrue directly to policy holders when it is


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passed on to him in the form of a bonus. In non life insurance the

benefits are indirect and mostly by the creation of an investment

portfolio. Investment income has to compensate for underwriting results

which are increasingly under pressure. In the case of insurance, the

difference between revenue and the expenses is known as operating

surplus.

Revenue =premium.

Expenses =sum of claims + commission payable on procurement of

business + operating expenses.

Operating surplus =revenue-expenses.

Net investment income includes income from trading in and holding

stock market securities including government securities, special

deposits with the central government, loans to several public utilities

and service providers in state government.


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Insurance premium collected is converted in a pool of fund then

divided in to four expenses.

y To pay the expenses of the management.

y To pay agency commission.

y To pay for the claims.

y Surplus money will be invested in govt. securities.

Requirements of an insurance risk

Insurance normally insure only pure risks .However, not all pure risk is

insurable .certain requirements usually must be fulfilled before a pure

risk can be privately insured .From the view point of the insurer, there

are ideally six requirement of an insurable risk


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y There must be a large number of exposure units

y The loss must be accidental and unintentional.

y The loss must be determinable and measurable.

y The loss should not be catastrophic.

y The chance of loss must be calculable.

y The premium must be economically feasible

Comparison of Insurance with other Similar Factors

(1) Insurance and gambling compared

Insurance is often erroneously confused with gambling There are two

important differences between them .First ,gambling creates a new

speculative risk ,while insurance is a technique for handling an already


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existing pure risk .thus ,if you bet Rs 300 on a horse ,a new speculative

technique is created ,but if you pay Rs 300 to an insurer for fire

insurance ,the risk of fire is already present and is transferred to the

insurer by a contract. No new risk is created by the transaction.

The second difference between insurance and gambling is that

gambling is socially unproductive, because the winners gain comes at

the expense of the loser .In contract; insurance is always socially

productive, because neither the insurer nor the insured is placed in a

position where the gain of the winner comes at the expense of the

loser. The insurer and the insured have a common interest in the

prevention of a loss. Both parties win if the loss does occur .Moreover,

consistent gambling transaction generally never restore the losers to

their former financial position .In contract ,insurance contracts restore

the insureds financially in whole or in part if a loss occurs

(2) Insurance and hedging compared


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The concept of hedging is to transferring the risk to the

speculator through purchase of future contracts .An insurance

contract, however, is not the same thing as hedging .Although both

technique are similar in that risk is transferred by a contract, and no

new risk is created, there are some important difference between

them. First, an insurance transaction involves the transfer of insurable

risks, because the requirement of an insurable risk generally can be met

.However, hedging is a technique for handling risks that are typically

uninsurable ,such as protection against a decline in the price

agriculture products and raw materials.

A second difference between insurance and hedging is that insurance

and hedging is that insurance can reduce the objective risk of an

insurer by application of the law of large numbers. As the number of

exposure units increases, the insurers prediction of future losses

improves, because the relative variation of actual loss from expected

loss will decline .thus, many insurance transactions reduce objective


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risk. In contract, hedging typically involves only risk transfer , not risk

reduction .The risk of adverse price fluctuation is transferred because of

superior knowledge of market conditions .The risk is transferred, not

reduced, and prediction of loss generally is not based on the law of

large numbers.

Various types of life insurance policies:-

y Endowment policies: This type of policy covers risk for a specified

period, and at the end of the maturity sum assured is paid back

to policyholder with the bonuses during the term of the policy.

y Money back policies: This type of policy is for periodic payments

of partial survival benefits during the term of the policy as long as

the policy holder is alive.


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y Group insurance: This type of insurance offers life insurance

protection under group policies to various groups such as

employers-employees, professionals, co-operatives etc it also

provides insurance coverage for people in certain approved

occupations at the lowest possible premium cost.

y Term life insurance policies: This type of insurance covers risk only

during the selected term period. If the policy holder survives the

term, risk cover comes to an end. These types of policies are for

those people who are unable to pay larger premium required for

endowment and whole life policies. No surrender, loan or paid

up values are in such policies.

y Whole life insurance policies: This type of policy runs as long as

the policyholder is alive and is covered for the entire life of the

policyholder. In this policy the insured amount and the bonus is

payable only to nominee on the death of policy holder.


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y Joint life insurance policies: These policies are similar to

endowment policies in maturity benefits and risk cover, but joint

life policies cover two lives simultaneously such as married

couples. Sum assured is payable on the first death and again on

the death of survival during the term of the policy.

y Pension plan: a pension plan or annuity is an investment over a

certain number of years but does not provide any life insurance

cover. It offers a guaranteed income either for a life or certain

period.

y Unit linked insurance plan: ULIP is a kind of insurance plan which

provides life cover as well as return on premium paid over a


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certain period of time. The investment is denoted as units and

represented by the value called as net asset value (NAV).

B.4 INSURANCE AND ECONOMY

y Indian economy is growing in reference to global market.

Business of insurance with its unique features has a special place

in Indian economy.

y It is a highly specialized technical business and customer is the

most concern people in this business, therefore this business is

able to spur the growth of infrastructure and act as a catalyst in

the overall development of Indian economy.


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y The high volumes in the insurance business help spread risk wider,

allowing a lowering of the rates of the premium to be charged

and in turn, raising profits. When there is a bigger base, the

probabilities become more predictable, and with system wide

risks balanced out, profits improve. This explains the current

scenario of mergers, acquisitions, and global ization of insurance.

y Insurance is a type of savings. Insurance is not only important for

tax benefits, but also for savings and for providing security. It can

be serving as an essential service which a welfare state must

make available to its people.

y Insurance play a crucial role in the commercial lives of nations

and act as the lubricants of economic activities. Insurance firms

help to spread the potentially financial consequences of risk

among the large number of entities, to mobilize and distribute

savings for productive use, facilitate investment, support and


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encourage external trade, and protect economic entities

against external risk.

Insurance and economic growth mutually influences each other.

As the economy grows, the living standards of people increase. As a

consequence, the demand for life insurance increases. As the assets

of people and of business enterprises increase in the growth process,

the demand for general insurance also increases. In fact, as the

economy widens the demand for new types of insurance products

emerges. Insurance is no longer confined to product markets; they

also cover service industries. It is equally true that growth itself is

facilitated by insurance. A well -developed insurance sector promotes

economic growth by encouraging risk-taking. Risk is inherent in all

economic activities. Without some kind of cover against risk, some of

these activities will not be carried out at all. Also insurance and more

particularly life insurance is a mobilizer of long term saving s and l ife

insurance companies are thus able to support infrastructure projects


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which require long term funds. There is thus a mutually beneficial

interaction between insurance and economic growth. The low income

levels of the vast majority of population have been one of the factors

inhibiting a faster growth of insurance in India. To some extent this is

also compounded by certain attitudes to life. The economy has

moved on to a higher growth path. The average rate of growth of the

economy in the last three years was 8.1 per cent. This strong growth will

bring about significant changes in the insurance industry.

At this point, it is important to note that not all activities can be

insured. If that were possible, it would completely negate

entrepreneurship. Professor Frank Knight in his celebrated book Risk

Uncertainty and Profit emphasized that profit is a consequence of

uncertainty. He made a distinction between quantifiable risk and non-

quantifiable risk. According to him, it is non-quantifiable risk that leads

to profit. He wrote It is a world of change in which we live, and a

world of uncertainty. We live only by knowing something about the

future; while the problems of life or of conduct at least, arise from the

fact that we know so little. This is as true of business as of other spheres

of activity. The real management challenges are uninsurable risks. In

the case of insurable risks, risk is avoided at a cost.


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SECTION: C

COMPANY PROFILE


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States, the Netherlands and the United Kingdom as well as

other businesses in Asia, the Americas and elsewhere inEurope. AEGON is listed on the stock exchanges of

Amsterdam, London, New York and Tokyo.

With just over EUR 330 billion in revenue-generatinginvestments at the end of 2008, AEGON companies employ

just over 31,000 people worldwide, serving more than 40

million policyholders in over twenty countries across the

globe.

Highlights

Poland (December 2008) AEGON finalizes acquisition ofpension fund company PTE Skarbiec Emerytura.

The Netherlands (November 2008) AEGON CEO Alex

Wynaendts outlines short-term strategy to address financial

crisis, promising measures to reduce risk, free up more capital

and keep a tight lid on operating costs (the three Cs:

Capital, Cost, Contingency).

Mexico (October 2008) AEGON signs joint venture with

Mongeral, Brazils sixth biggest independent life insurer.

Spain (August 2008) AEGON agrees new joint venture withsavings bank Caixa Terrassa, further extending distribution in

Spain.

India (July 2008) AEGON launches new life insurance business

in India.

China (April 2008) - AEGON-CNOOC opens new branch

office in Guangdong in line with its strategy to expand itsbusinesses in the fast-growing coastal provinces of eastern

China. Guangdong, one of China's wealthiest and most

populous provinces, is the joint venture's sixth branch

following Beijing, Jiangsu, Shandong, Shanghai and Zhejiang.


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Turkey (February 2008) - AEGON enters into an agreement to

acquire 100% of Ankara Emeklilik, a Turkish life insurance andpension provider. The move is AEGON's first step in the fast-

growing Turkish life insurance and pension market.

United States (December 2007) - AEGON finalizes agreementwith Merrill Lynch, further widening the Groups distribution

network in the United States. As part of the agreement,

AEGON also buys Merrill Lynchs two life insurance businesses.

Our markets

AEGON's businesses serve millions of customers in over twenty

markets throughout the Americas, Europe and Asia, with

major operations in the United States, the Netherlands and

the United Kingdom.

In the past years AEGON has achieved very rapid growth

and expanded its business in Central & Eastern Europe,

signed new partnerships in India and Japan and furtherstrengthened its presence in China. The Group also

extended its commercial reach in places such as Spain, theNetherlands, the United States and the United Kingdom.

AEGON believes its core markets will continue to grow over

the years ahead and wants to capatilze on these growth

opportunities, making sure the Group is present in the right


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markets and making sure too, that its businesses - the

insurance, pension and bank distribution business - worktogether as efficiently and effectively as possible.

Ratings

The current S & P, Moody's and Fitch credit rating and rating

outlook of AEGON N.V. and the insurance financial strengthratings and ratings outlook of AEGON's primary life insurance

companies in AEGON's major country units are shown in the

table below.

Ratings AEGON N.V. AEGON USA

AEGON

The Netherlands

AEGON

Scottish Equitable

S&P rating A AA AA AA

S&Poutlook Negative Negative Negative Negative

Moody's rating A3 A1 Not rated Not rated

Moody's outlook Negative Negative Not rated Not rated

Fitch rating A AA Not rated Not rated

Fitch outlook Negative Negative Not rated Not rated


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C.2 ABOUT RELIGARE

A diversified financial services group with a pan-India presenceand presence in multiple international locations, Religare Enterprises

Limited ("REL") offers a comprehensive suite of customer-focused

financial products and services targeted at retail investors, high net

worth individuals and corporate and institutional clients.

REL, along with its joint venture partners, offers a range of products and

services in India, including asset management, life insurance, wealth

management, equity and commodity broking, investment banking,

lending services, private equity and venture capital. Religare has also

ventured into the alternative investments sphere through its holistic arts

initiative and film fund.

With a view to expand and diversify, REL operates in the life insurance

space under 'Aegon Religare Life Insurance Company Limited' and has

launched India's first wealth management joint venture under the

brand name 'Religare Macquarie Private Wealth'.

REL, through its subsidiaries, has launched India's first holistic arts

initiative - with a gallery - as well as the first SEBI approved film fund,

which is an initiative towards innovation and spotting new opportunities

for creation and maximization of wealth for investors.

REL operates from seven domestic regional offices, 43 sub-regional

offices, and has a presence in 498* cities and towns controlling 1,837*

business locations all over India.

To make a mark in the global arena, REL acquired UK-based Hichens,

Harrison & Co. in 2008 which was subsequently re-named as Religare

Hichens Harrison PLC ("RHH"). Hichens, Harrison & Co. was incorporated


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in London in the year 1803 and is believed to be one of the oldest firms

of stockbrokers in the City of London.

Pursuant to expansion of REL's business, the company has grown from

largely an equity trading company into a diversified finan cial services

company. With the addition of RHH the REL group now operates out of

multiple global locations, other than India, (the UK, the USA, Brazil,

South Africa, Dubai and Singapore).

Vision & Mission

Vision - To build Religare as a globally trusted brand in the financial

services domain and present it as the Investment Gateway of India'.

Mission - Providing complete financial care driven by the core values

of diligence and transparency.

Brand Essence - Core brand essence is Diligence and Religare is driven

by ethical and dynamic processes for wealth creation.

Brand and identity

The first leaf of the clover represents Hope. The aspirations to succeed. The dream of

becoming. Of new possibilities. It is the beginning of every step and the foundation on which

a person reaches for the stars.

The second leaf of the clover represents Trust. The ability to place ones own faith in another.

To have a relationship as partners in a team. To accomplish a given goal with the balance

that brings satisfaction to all, not in the binding, but in the bond that is built.

The third leaf of the clover represents Care. The secret ingredient that is the cement in every

relationship. The truth of feeling that underlines sincerity and the triumph of diligence in everyaspect. From it springs true warmth of service and the ability to adapt to evolving

environments with consideration to all.

The fourth

and final leaf

of the clover

represents


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Good

Fortune.

Signifying

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OurJoint Ventures

AEGONReligare Life Insurance Company

Life Insurance business (AEGON as a partner)

For more information log on to www.aegonreligare.com

Religare Macquarie Wealth Management Ltd.

Private Wealth business (Macquarie, Australian Financial Services

major as a partner)


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For more information log on to www.religaremacquarie.com

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C.3 About Aegon Religare

AEGON, one of the worlds largest life insurance and pension groups,

Religare, one of Indias leading integrated financial services groupsand Bennett, Coleman & company, Indias largest media house, have

come together to launch AEGON Religare Life Insurance Company

Limited. This venture is dedicated to build a firm future, both for

customers and employees and will continue to balance a local

approach with the power of an expanding global operation. We

launched our pan-India multi-channel operations in July, 2008 with over

30 branches spread across India. Our business philosophy is to help

people plan their life better. We provide high quality advice to our

customers and offer superior customer service. In an industry first,

AEGON Religare Life Insurance offers policy servicing on the phone via

Interactive Voice Response System (IVR) by issuing the customer a T-Pin

for authentication. It is also the first company to include the customers

medical report in the policy kit.

AEGONs businesses serve over 40 million customers in over 20 markets

throughout the Americas, Europe and Asia, with major operations in the

United States, the Netherlands and the United Kingdom. With

headquarters in The Hague, the Netherlands, AEGON companies

employ almost 32,000 people worldwide. The companys common

shares are listed on four stock exchanges: Amsterdam, London, New


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York and Tokyo. It manages EUR 351 billion in revenue generating

investments. AEGON has more than 160 years of experience with its

roots going back to 1844. It holds 26% equity in our company.

Religare is a diversified financial services group of India offering a

multitude of investment options. Financial services which Religare offers

can be broadly clubbed across three key verticals - Retail, Institutional

and Wealth spectrums. Religare has also ventured into the alternative

investments sphere through its holistic arts initiative and Film fund. With

a view to expand, diversify and introduce offerings benchmarked

against global best practices, Religare operates in the wealth

management space under the brand name 'Religare Macquarie

Private Wealth'. Religare has a pan India presence, 1837 locations

across 498 cities and towns. It also currently operates from nine

international locations following its acquisition of London's brokerage &

investment firm, Hichens, Harrison & Co. plc. (Now Religare Hichens,

Harrison Plc).

Bennett, Coleman & Co. Ltd. (BCCL), part of the mammoth Times

Group, is Indias largest media house. It reaches out to 2468 cities and

towns all over India. The group owns and manages powerful media

brands like The Times of India, The Economic Times, Maharashtra Times,

Navbharat Times, Femina, Filmfare, Grazia, Top Gear, Radio Mirc hi,

Zoom, Times Now, Times Music, Times OOH, Private Treaties and

indiatimes.com. All of its brands are multinational in outlook, traditional

at heart and national in spirit. From the very first edition on November 3,

1838 the mammoth BCCL Group has come a long way. By way of the

innovative venture of Times Private Treaties

(http://www.timesprivatetreaties.com), the BCCL Group holds 30%

equity in our company.


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1. VALUES & VISION

2. LEADERSHIP TEAM

CHIEF EXECUTIVE OFFICER

Rajiv Jamkhedkar

Mr Rajiv Jamkhedkar joined AEGON Religare Life Insurance Company

Limited as its Chief Executive Officer in July 2007.

Rajiv Jamkhedkar has two decades of experience in Retail Financial

Services in India. He has worked in all parts of the country the North,

South and Western India. Mr Jamkhedkar started his career as a

Management Associate at Citibank N.A. During the course of more

than a decade, he worked in Service, Sales and Product management

roles in a variety of businesses in Consumer Banking.


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During his last assignment at Citi, Mr. Jamkhedkar was head of Personal

lending & SME segment, Citibusiness. His main achievement was that

he quadrupled the balance-sheet in 5 years and made these as two of

the most profitable businesses for the bank.

Mr. Jamkhedkar has been involved in start-ups including a three year

stint in HSBC, where he started up the Retail Assets division of HSBC in

India. He was part of the core team that was instrumental in

transforming HSBC from being a corporate banking institution to being

a significant retail-banking player.

Mr Jamkhedkar has a B.Tech Degree in Electronics Engineering from IT -

BHU and an M.B.A. degree from Faculty of Management Studies, Delhi

University.

CHIEF FINANCIAL OFFICER & APPOINTED ACTUARY

K S Gopalakrishnan

CHIEF INVESTMENT OFFICER

Saibal Ghosh

CHIEF MARKETING OFFICER

Yateesh Srivastava

HEAD - AUDIT RISK & COMPLIANCE

Debmalya Maitra


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3. PRODUCTS

(A) PROTECTION PLANS

(B) CHILDREN PLAN

(C) SAVING PLAN

(D) RETIREMENT PLAN

(A) PROTECTION PLANS

AEGON RELIGARE DECREASING TERM PLAN:

Step 1: Choose the amount of protection you need

Step 2: Decide on the term of your policy

Step 3: Our Life Agent will calculate the premium you will have to

pay

Benefits

Death - In case of your unfortunate demise, the benefit payable is

100% of the Sum Assured in the 1st year, after which it will reduce by

5% on every policy anniversary.

Tax Benefits - Section 80C, 10 (10D) of the Income Tax Act, 1961

would apply. Please consult your tax advisor for confirmation.


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Eligibility

Annualised Premium Minimum - Rs. 2,000 p.a for regular premium

- Rs. 10,000 for single premium

Sum Assured Minimum - Rs. 5,00,000

Entry Age Minimum - 18 years Maximum - 55 years

Maturity Age Maximum - 75 years

Premium Pay Term Single / 11 years (except for 10-year plan

where premium pay term is equal to the policy term)

Policy Term Minimum - 10 years; Maximum - 20 years

Premium Payment Frequency Single, Yearly, Half- yearly,

Quarterly, Monthly (via ECS only)

Other Features

Grace Period - You are allowed to pay premiums within 30 days

from the due date. If a due premium is not received within the

grace period of 30 days, your policy will lapse and the life insurance

cover will be terminated.

Lapsed Policy Reinstatement - You can reinstate your lapsed policy

any time (within 2 years from the due date of the first unpaid

premium) by paying all the due premiums and undergoing

underwriting requirements, if any.

Free Look Cancellation - In case, you are not satisfied, you may

choose to cancel the policy within 15 days of receiv ing the policy

documents. Upon such cancellation, you will be paid back the

premiums minus the cost of stamp duty, medical reports and

proportionate premium for the period for which the risk was

covered.


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Terms and Conditions

Maturity - The policy does not acquire any maturity value, therefore

no amount is payable to the Policy Holder on maturity.

Surrender - The policy does not acquire any surrender value

throughout the policy term and therefore there is no amount

payable to the Policy Holder upon surrender.

Service Tax - Service tax or any other tax shall be levied as per the

prevailing tax laws on premiums or benefits payable.

Exclusion - In case of death by suicide during the first policy year, or

within one year from the date of reinstatement, no de ath benefit is

payable.

AEGON RELIGARE GROUP TERM PLAN:

There is a well known saying People make the place. No matterwhich industry you are in, the value that individuals bring to an

organization cannot be underestimated. Most of the people at your

work place have a family that financially depends on them. Hence,

each one needs life insurance. Providing basic financial security for

these employees would not go unnoticed.

AEGON Religare Group Term Plan provides the members of your

group with a life insurance plan so that their families needs are

looked after.

How do you apply for AEGON Religare Group Term Plan?


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Step 1: Decide on the number of people in your group (minimum 50

members)

Step 2: Choose the amount of protection your group members

need

Step 3: Derive at the Sum Assured for every member on the basis of:

a) Multiple of salary

b) Flat / Fixed Cover for all members

c) Grade wise cover

Benefits

Death - In case of any members unfortunate demise, you will be

paid the Sum Assured for the nominee.

Eligibility

Premium Minimum - Depends upon the group Size & Sum Assured

opted

Maximum - No limit

Sum Assured Minimum - Rs. 5,000 per member

Maximum - Rs. 2,00,000 per member


Maturity Age Maximum - 60 years

Size of the Group Minimum - 50 members

Maximum - No limit

Premium Pay Term Equal to the policy term

Policy Term 1 year (yearly renewable)

Premium Payment Frequency Single,Half- yearly, Quarterly,

Monthly (via ECS only)


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AEGON RELIGARE INCREASING TERM PLAN:

Benefits

Death - In case of your unfortunate demise, the benefit payable is

100% of the Sum Assured in the first year which increases by 5% on

every policy anniversary thereafter, till the amount payable on

death becomes twice the Sum Assured. After that, the benefit

payable remains twice the Sum Assured.


would apply. Premiums paid for AEGON Religare CI Rider may

qualify for a deduction under Section 80D of the Income Tax Act,

1961. Please consult your tax advisor for confirmation.

Riders

Besides life cover, AEGON Religare Increasing Term Plan offers you

additional cover through riders. If you opt for a rider, you or yournominee will receive the rider Sum Assured, in case any of the

following event / illness listed under the rider occurs.

AEGON Religare ADDD Rider - This rider benefit is paid on

occurrence of any of the following

* Death due to an accident

* Accidental dismemberment [loss of use of a limb(s) and / or

eye(s)]

* Permanent total disability due to an accident


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AEGON Religare CI Rider - This rider covers the following 9 critical

illnesses

* Cancer (malignant) including Leukemia

* Coronary Artery Bypass Surgery

* Heart Attack

* Kidney Failure

* Stroke

* Major Organ Transplantation

* Paralysis

* Heart Valve Surgery

* Surgery for disease of the Aorta

In case of Critical Illness, the Sum Assured will be paid 30 days after

diagnosis of the critical illness or undergoing surgical procedure as

the case may be.

AEGON RELIGARE LEVEL TERM PLAN:

Your family looks to you for support and strength. You have given

them the best till now and you would want them to get the best

even in the future. However, no one has control over uncertainties

of life. Will they be able to sustain the same lifestyle even in your

absence? To deal with your concern and give your family the best,

we offer you AEGON Religare Level Term Plan, which ensures

protection for your loved ones at a fraction of the cost. With the

help of our Life Agent, fill out the Life Planner that will help you take

the steps to having your own plan.

Features and Benefits


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Enhanced Sum Assured

There are some special occasions in life such as your marriage or

the birth of your child that need your support. On such occasions

this policy gives you the option to increase your Sum Assured. This

increase in the sum assured is subject to a maximum of 50% of the

sum assured or Rs 10 lakh (whichever is lower), without the hassle of

going through a medical examination or any other underwriting

requirements.

Grace period

You are allowed to pay premiums within 30 days from the due date.

If a due premium is not received within the grace period, your

policy will lapse and the life insurance cover, including the rider

cover, if any, will be terminated.

Lapsed Policy Reinstatement

You can reinstate your lapsed policy any time (within 2 years from

the due date of the first unpaid premium) by paying all the due

premiums.

Free Look Cancellation

In case, you are not satisfied, you may choose to cancel the policywithin 15 days of receiving the policy documents. Upon such

cancellation, you will be paid back the premiums minus the cost of

stamp duty, medical reports and proportionate premium for the

period for which the risk was covered.


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Death: Incase of unfortunate demise, the benefit payable to

nominee is sum assured and it does not change during the term of

the contract.

Tax Benefits

Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply.

Premiums paid for AEGON Religare CI Rider may qualify for a

deduction under Section 80D of the Income Tax Act, 1961. Consult

your tax advisor for confirmation.

AEGON RELIGARE RURAL TERM PLAN:

A low-cost plan that offers 100 times of your premium as life cover.

How do you apply for AEGON Religare Rural Term Plan?

All you need to do is choose the amount of premium you need to

pay.

Benefits

Maturity On Survival till the end of policy term, you receive an

amount of 110% of the Single Premium paid.

Death - In case of your unfortunate demise during the policy term,

the benefit payable to your nominee is the Sum Assured which is 100

times of the Single Premium paid.


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Maturity

On maturity, you receive the fund value existing on maturity. If you

do not wish to take the entire maturity amount at one go, you can

avail of the Settlement Option.

4 Fund Options

You have the option of choosing from 4 funds Secure, Debt,

Balanced and Enhanced Equity Fund.

Partial Withdrawal

You or the nominee after death of the Life Assured can partially

withdraw your money after first 3 policy years. The maximum

amount of partial withdrawal in any policy year is 50% of the fund

value at the beginning of that policy year. You can also avail of

AEGON Religare Star Child Plans Systematic Partial Withdrawal

facility by which we redeem units periodically from your unitaccount and credit the money to your bank account. You can opt

for systematic partial withdrawal frequency, say monthly or quarterly

for the duration you choose.

Settlement Option

Under this option, you or the nominee after death of the LifeAssured, receive maturity proceeds in instalments over a period you

choose (not exceeding 5 years). Investment risk during the

settlement period is borne by you.

Surrender


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AEGON RELIGARE PREMIUM GAIN PLAN:

You've always worked hard to give your family nothing but the best.

But growing expenses, never-ending price hikes and inflation make

most of your plans difficult. Which is why, it becomes all the more

important to invest and set aside that little something for whatevermay come your way. The AEGON Religare Premium Gain Plan is

designed keeping just that in mind. It helps maximise your

investments and gives you the best possible returns. So that when it

comes to your plans for your loved ones, nothing comes in the way.

With the help of our Life Agent, fill out the Life Planner that will help

you take the steps to having your own plan.

Advantages of AEGON Religare Premium Gain Plan

* Guaranteed special addition of 150% or 200% of your first year

premium at maturity for a 15 or 20 year term policy respectively.

* 99% to 100% premium is invested in funds second year onwards.

* Additional 100% of sum assured in case of accidental death.

* No medical examination required.

* Unique Invest Protect option strives to protect your returns.

Invest Protect Option


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If you opt for Invest Protect option, it will not only help you gain from

your investment but also minimise the risk to your returns as your

policy nears maturity. It aims to protect your money by

systematically shifting the fund from Balanced Fund to Debt Fund

during the last 2 policy years.


No Medical Test

You do not have to undergo any medical investigation. All you

need to do is answer 3 simple questions.

Switch

This feature helps you shift your investments from one fund to

another. Four switches are free of charge in each policy year.

Premium Re-direction

Premium Re-direction feature allows you to alter the premium

allocation made by you in different funds.

Maturity

On maturity, you receive the fund value existing on maturity date

and the special addition.

Three Fund Options


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Tax Benefits


Consult your tax advisor for confirmation.

AEGON RELIGARE PREMIUM GAIN PLUS PLAN:

Youve always worked hard to give your family nothing but the best.

But growing expenses, never-ending price hikes and inflation make

most of your plans, difficult. Which is why, it becomes important to

invest and set aside that little something for whatever may come

your way. The AEGON Religare Premium Gain Plus Plan, is designed

keeping just that in mind. It helps maximise your investments andgives you the best possible returns. So that when it comes to your

plans for your loved ones, nothing comes in the way.

Features & Benefits

Special Addition - Earn Special Addition on maturity, on payment ofall your premiums. The value of Special Addit ion amount on maturity

(% of first year policy premium) shall be calculated as:

No of years premium paid * Special Addition Rate p.a. * First Year

Annualised premium

Number of Years Premium paid

Special Addition Rate p.a.


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Special Addition amount on Maturity (% of First Year Policy Premium)

15

9.00%

135%

20

15.00%

300%

No Medical Test - You do not have to undergo any medicalinvestigation up to sum assured of Rs.12.5 Lakhs. All you need to do

is answer 3 simple questions.

100% premium is invested in funds from second policy year onwards


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Invest Protect option - If you opt for Invest Protect option, it will not

only help you gain from your investment but also minimize the risk to

your returns as your policy nears maturity. It aims to protect your

money by systematically shifting the Fund from Enhanced Equity

Fund to Secure Fund during the last 3 policy years.

Fund options - If you dont wish to opt for Invest Protect, you have

the option to invest your premiums in any one or more of the

following 4 funds:

#

Secure Fund

#

Debt Fund

#

Balanced Fund

#

Enhanced Equity Fund

Maturity - On maturity, you receive the fund value existing on

maturity date and the Special Addition.


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Settlement Option - Under this option, you receive your maturity

proceeds in installments over a period you choose (not exceeding 5

years).

Partial Withdrawal - You can partly withdraw your money after first 3

policy years. The maximum amount of partial withdrawal in any

policy year is 20% of the fund value at the beginning of that policy

year.

Surrender - You can surrender the policy any time after the first 3

policy years. Surrender value is equal to the fund value less

surrender charges applicable, if any.


the nominee will receive the Sum Assured or the Fund Value,

whichever is higher. In case the life assured has not attained 7 years

of age, fund value is payable. However, if death occurs in the first

policy year higher of annualized premium and fund value is

payable.


would apply. Please consult your tax advisor for confirmation.

AEGON RELIGARE WEALTH PROTECT PLAN:


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A plan that ensures, you never miss an opportunity to maximise the

gains and shields it during down turn. AEGON Religare Wealth

Protect Plan guarantees that the returns will not dip below 80% of

highest NAV during the policy term.

Key Features

NAV Protector Fund - The NAV Protector Fund aims to maximise

gains from your investments and at the same time protect such

gains from eroding. The premiums allocated to the NAV Protector

Fund will be invested in a mix of equity and money market

instruments. The proportion of equity will be dynamically managed

according to a predefined rule.

Reset Days - Every Friday will be the reset day for the AEGON

Religare Wealth Protect Plan.

Special NAV - Special NAV is 80% (Eighty percent) of the highest

NAV declared on any reset day. Refer to the Terms & Conditions to

understand how a special NAV is calculated for Regular Premium

and Top-Up Premium.

Special fund value - Special Fund Value is calculated as, higher of

the NAV as on date or the Special NAV multiplied by the number of

units in your unit account i.e. (Higher of NAV as on date or Special

NAV) x Number of Units.


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For example, the NAV is at its highest 40.12 in policy year 7 as per

the graph above. On the date of maturity, even if the NAV is below

the Special NAV, you are assured of receiving your Special Fund

Value at an NAV of 32.10 which is 80% of the NAV in year 7.

Key Benefits

On Maturity - On maturity, you receive the Special Fund Value (asexplained above) as on maturity date plus Special Addition.

Partial withdrawal - You can partly withdraw your money after the

first 3 policy years. The minimum amount of partial withdrawal is Rs.

5,000 and the maximum amount of partial withdrawal allowed in

any policy year is 20% of the fund value at the beginning of that

policy year.

Surrender - You can surrender the policy any time after the first 3

policy years. Surrender Value is Special Fund Value minus the

surrender charges.


your nominee will receive the Sum Assured or the Special Fund

Value, whichever is higher. For further details, refer to Terms and

Conditions.


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PROTECT GAIN PLAN:

Your life has many phases and it changes with time. But it doesn't

have to be a financial roller coaster ride for you. Life, if

systematically managed, can constantly keep changing for better.

Leading only to a more secured tomorrow. AEGON Religare Protect

Gain plan from AEGON Religare Life Insurance aims to do just that

for you. With the help of our Life Agent, fill out the Life Planner that

will help you take the steps to having your own plan.

Invest Protect Option

If you opt for Invest Protect option, it will not only help you gain from

your investment but also minimize the risk of returns as your policy

nears maturity. It aims to protect your money by systematically

shifting the Fund from the Enhanced Equity Fund to the Secure Fund

during the last 3 policy years.


Auto-rebalancing feature, at the end of every policy year,

automatically rebalances the allocation of your investments in

various funds to the allocation proportions chosen by you.

Special Units

You will earn additional special units if your policy term is 15 years or

more. The special units will be added to your account at the end of

10th year and every 3rd year thereafter. The value of special unit

would be equal to 1.50% of the average fund value of the last 36

months before the allotment of special units.


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Premium Re-direction

Premium Re-direction feature allows you to alter the premium

allocation made by you in different funds.

Enhanced Sum Assured

At certain stages in your life such as marriage or child birth your

responsibility towards the family increases. In such cases, you may

want to increase your life cover.

AEGON Religare Protect Gain Plan allows you to increase your life

cover without the hassles of undergoing medical check-up or filling

up any health related questionnaire. You can increase your life

cover by up to 50% of the Sum Assured or Rs 10 lakh (whichever is

lower), subject to certain conditions. In case the Proposer and the

Life Assured are different, then the feature is applicable only to the

Life Assured.

Switch

This feature helps you shift your investments from one fund to

another. Four switches are free of charge in each policy year.

Maturity

On maturity, you receive the fund value existing on maturity date. If

you do not wish to take the entire maturity amount at one go, you

can avail of the Settlement Option.


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Settlement Option

Under this option, you receive your maturity proceeds in instalments

over a period you choose (not exceeding 5 years). Investment risk

during the settlement period is borne by you.

Partial Withdrawal

You can partially withdraw your money after first 3 policy years. The

maximum amount of partial withdrawal in any policy year is 20% of

the fund value at the beginning of that policy year. You can also

avail of AEGON Religare Protect Gain Plans Systematic PartialWithdrawal facility by which we redeem units periodically from your

unit account and credit the money to your bank account. You can

opt for systematic partial withdrawal frequency, say monthly or

quarterly for the duration you choose.

Surrender

You can surrender the policy anytime after the first 3 policy years.

Surrender value is fund value minus the surrender charges. The

charges will depend up on the period for which you have paid your

premiums. There is no surrender charge for units created out of Top-

up.

Death

In case of your unfortunate demise during the policy term, the

nominee will receive the Sum Assured or the Fund Value, whichever

is higher. The fund value is the number of units in your unit account

multiplied by their respective unit price. For further details on the

above benefits refer to Terms and Conditions in the brochure.


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Tax Benefits


Premiums paid for AEGON Religare CI Rider may qualify for a

deduction under Section 80D of the Income Tax Act, 1961. Consult

your tax advisor for confirmation.

(D) RETIREMENT PLAN

AEGON RELIGARE INSTA PENSION PLAN:

Your family looks to you for support and strength at all times.

Whether markets crash, prices rise or unforeseen events run riot with

your budgets, you manage to come out of such situations on top.

All your life, you strive hard and make sure you earn enough and

more to ensure that you and your family get the best of everything.

Why should your post-retirement life be any less?

At AEGON Religare Life Insurance we understand this. Hence, we

bring you the AEGON Religare Insta Pension Plan. A plan that paysyou a continuous income post your retirement for the rest of your

life. So that you maintain your current lifestyle even after retirement

and live the way you always have without compromise.

How does the plan work?

Step 1: Decide the amount of premium (lump sum amount) you

want to pay to purchase the Annuity Plan.

Step 2: Choose any one of the two available annuity payout

options.

Step 3: Choose the annuity payout mode with which you would

want to receive your annuity.


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Step 4: Choose the most convenient way to receive your annuity

amount from any of the two available options.

Purchasing an Annuity

As soon as you purchase an annuity plan, you start getting a regular

income in the form of an annuity. The actual amou nt you receive as

annuity will depend upon the Annuity Rates applicable at the time

of purchasing the annuity.

Benefits

Lifetime Income Depending on the annuity payout option that you

choose, the AEGON Religare Insta Pension Plan provides you and

your spouse an income for life.

Features

Annuity Payout Options You have the choice to select from any of

the following Annuity Payout Option.

Life Annuity If you choose the Life Annuity option, you will receive

your annuity payment for as long as you live.

Joint Life Annuity Under this option, an annuity is paid to you for yourentire life. In case of your unfortunate death, the annuity payment

will be continued to be paid to your spouse, till your spouse is alive.

Annuity Payout Mode You can choose to receive your annuity

either on a monthly or on an annual basis.


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Options to receive you annuity You have the option to receive your

annuity amount either by cheques or by direct credit to your bank

account.

Eligibility

Premium Minimum: Rs. 1,00,000

Maximum: No Limit

Premium Pay Term Single Premium

Entry Age Minimum: 50 years Maximum: 75 years

Entry Age of Spouse Minimum: 50 years Maximum: 75 years

AEGON RELIGARE PENSION PLAN:

Today, you are living comfortably. There is a regular inflow of

income and your bills are paid on time. In fact your necessities aretaken care of, without you having to worry about them.

However, the future will be different. Rising inflation will affect the

price of the smallest of items. Milk that costs Rs.20/ltr. today could

cost around Rs.95 twenty years later. Which means, on retirement

you may not be able to afford even the basic necessities like food,

clothing, etc.

Therefore you need to plan your retirement today itself. Presenting

the AEGON Religare Pension Plan. It provid es you with a regular

pension that will help you take care of the much needed basic

necessities, post-retirement. Invest in AEGON Religare Pension Plan

and be assured of a secure tomorrow.


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How does the plan work?

Step 1: Choose your retirement age. Step 2: Consult our Life Advisor

to know what should be your retirement amount. Step 3: Decide the

amount of premium you wish to pay every year from the flexible

options. Step 4: Invest your premiums in the Lifestyle Fund option, a

Fund that systematically minimises the risk to your returns by

reducing the equity exposure throughout the policy term.Alternatively, you can choose to invest your premiums in any of our

5 Funds.

Premium Options

Increasing Premium The Increasing Premium Payment option is a

feature that takes into consideration inflation. As inflation rises, thevalue of your money falls thereby reducing your purchasing power.

Therefore, it becomes important that as time elapses, you should

built a corpus that has the value and purchasing power that you

have always wanted. Under this variant, you can choose to pay

regular premiums which increase by 5% or 8% of the first year

premium every year.

Level Premium If you choose Level Premium, the amount of regular

premium that you pay every year remains fixed till you reach the

vesting age. E.g. The graph below shows you how opting for the

Increasing Premium Option at 5% and 8% over a period of time will

help you in increasing the amount you get at vesting.


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The graph above shows that the returns are 47% more when 5%

Increasing Premium is opted for and 75% more when the 8%

Increasing Premium is opted for as compared to the Level Premium

option.

Benefits

1. Vesting On vesting, you have the option to take a part of fund

value as tax free lump-sum (as per prevailing tax laws). The balance

amount will be used to purchase an immediate annuity from us at

then prevailing rates or from any other Life Insurance Company.

Option to Pre-pone or Postpone your vesting age: Under this option,

you can change your vesting date. The minimum vesting age is

attaining 50 years of age and the maximum up to attaining 70 years

of age.

2. Partial Withdrawal You can partly withdraw your money after first

3 policy years. The minimum amount of partial withdrawal is Rs. 5,000

and the maximum amount allowed in any policy year is 20% of thefund value at the beginning of that policy year.

3. Surrender You can surrender the policy any time after the first 3

policy years. Surrender value is fund value minus the surrender

charges. There is no surrender charge on units from Top-up premium

paid.

4. Death In case of your unfortunate demise, your nominee will

receive the existing Fund Value of the date when we receive such

intimation. In case you have opted for a Term Rider, the Term Ride r

Sum Assured in addition to the Fund Value will be payable.

Key Features:


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Increase and decrease in Premium Under this feature, you have the

flexibility to increase or decrease the level premium that you pay

annually. You also have the flexibility to cha nge from increasing

premium to level premium within minimum and maximum premiumlimits.

Auto-rebalancing This feature at the end of every policy year,

automatically rebalances the allocation of investments in various

funds as to the allocation proportions chosen by you.

Special Units You earn additional Special units if your policy term is

10 years or more. The Special units are added to your account on

the 10th Policy Anniversary and on every policy anniversary

thereafter till the vesting of the policy or death.

Premium Re-direction This feature allows you to alter the premium

allocation to be applied to your future premiums.

Switch This feature helps you to shift your investments from one fund

to another. Four switches are free of charge in each policy year.

Riders AEGON Religare Pension Plan offers you additional cover

through riders. 1. AEGON Religare Term Rider 2. AEGON Religare

Waiver of Premium Rider

These riders are only available with regular premium option.

Eligibility

Annualised Premium Minimum - Rs. 12,000 p.a for regular premium

- Rs. 1,00,000 for single premium


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Premium Pay Term (Years) Single / Equal to the policy term


Vesting Age Minimum - 50 years Maximum - 70 years

Policy Term Minimum - For Level / Increasing Premium - 10 Years- Single Premium 5 Years Maximum - 50 years

Premium Payment Frequency Monthly (via ECS only), Quarterly,

Half- yearly, Yearly or Single Premium


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4. PRESS RELEASES

Mumbai, June 25: AEGON Religare Life Insurance today announced its

business plans for the financial year 2009-2010, giving details on its

performance in FY09.

The key strategy for AEGON Religare Life Insurance in FY10 is to build

distribution and focus on productivity for all of its 52 branches across 42

cities. The company will build a strong sales force and plans to hire

10,000 advisors and over 250 frontline sales staff in the current fiscal. The

business target for FY10 is an APE of Rs 240 crore with over 110,000

policies.

The company started operations in July 2008 and currently has 52

branches spread across 42 cities, as per the plan

Documents

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