A guaranteed income insurance plan was launched by the private life insurer Aegon Religare Life. This plan offers life cover on a long-term basis and also guarantees regular income of 7.5% of the assured sum annually.
Chief Financial Officer K. S. Gopalakrishnan said that with the present times being uncertain, there is a strong customer need for a guaranteed income plan which offers a good life cover and also regular payouts to meet day-to-day needs.
This plan was also a good way to battle the ill effects of inflation and get life cover as well. The policyholder is offered an assured annual return of 7.5% of the assured sum after the end of the policy's premium payment term until the age of 85.