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Hyderabad, Dec. 1 Aegon Religare Life Insurance has announced the launch of a new product that guarantees tax-free returns along with the added benefit of life cover.

The company, which started operations earlier this year, is a joint venture between Religare, Aegon and Bennett and Coleman.

While Religare holds a 44 per cent stake in the venture, Aegon has a 26 per cent stake and Bennett and Coleman, the balance 30 per cent.

“This product called the Guaranteed Return Plan is a single premium plan that gives a fixed annual compounded return of 7.2 per cent.

The returns on maturity are tax-free and the plan comes with an added benefit of life cover – five times of the single premium paid,” Mr Rajiv Jamkhedkar, Chief Executive Officer of Aegon Religare Life Insurance, said while addressing a press conference here on Monday.

The minimum single premium payable is Rs 50,000 and the maximum is Rs 4,00,000 and is available in two maturities – seven years and 10 years.

More Stories on : Life Insurance | New Products & Services

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