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Aegon Religare plans to launch 5 insurance products

By SiliconIndia | Thursday, 18 March 2010, 23:54 Hrs

Mumbai: Aegon Religare Life Insurance, a joint venture between Aegon, a Netherlands-based international insurance and pension firm and Religare Enterprises, an integrated financial services group, plans to unveil 4-5 new products in 2010-11.

Yateesh Srivastava, Chief Marketing Officer of Aegon Religare Life Insurance said, "We will be coming out with 4-5 new products in 2010-11 and these would be a mix of unit linked insurance products (ULIPs) as well as traditional insurance products. Aegon Religare which recorded a premium collection of

46 crore in 2008-09 expects to reach a premium collection of

190 crore by the end of this fiscal." The company which has sold over 60,000 policies by the end of February this year has set a target of selling 150,000 policies by the end of 2010-11.

Recently, the company launched the Aegon Religare Money Back Plan, which is a ten-year plan wherein the customers have to pay premium for a period of five years. Once the customers stop paying premium after five years, they will receive 10 percent of the sum assured on the completion of the sixth year and 15 percent of the sum assured on completion of the eighth year.

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