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AEGON Secure Lifetime Income

The benefits of AEGON Secure Lifetime Income (ASLI)

Important information about the guarantees we offer

• AEGON Secure Lifetime Income offers a choice of guarantees. These guarantees are promises that we're making to say that this product will deliver you certain benefits.
• Any guarantees are based on the ability of the issuing insurance company - in this case AEGON Ireland plc - to pay them. If, for example, that company no longer existed, then the guarantees it provides may be affected.
• It does cost a bit extra for guarantees. It's much like paying for the things you insure on a day-to-day basis just now. The cost of the guarantees will depend on where you choose to invest. Your financial adviser will be able to tell you how much this will be before you set up your plan.
• If you take out an AEGON Secure Lifetime Income plan and decide to cash-in your plan, then the guarantees will no longer apply. We don't offer a guaranteed cash-in value so you could get back less than the amount you originally invested.

AEGON Ireland runs a sophisticated, prudent programme that aims to allow us to honour the guarantees we make you. Your financial adviser will be able to give you information on how we do this.

A guaranteed minimum income for life

ASLI gives you a guaranteed minimum income every year for the rest of your life, no matter how long that is.

Potential for your guaranteed minimum income to increase

At the end of every year after you take out the plan, we look back to see what the value of it was on each of the corresponding monthly anniversaries - we call these dates Monthiversary®. This means there are 12 values for us to review every year. This gives you 12 opportunities - for every year you have your plan - to lock in any growth.

If the highest of these 12 values is more than the amount you originally invested, we lock in this amount as your new income base. From the start of the next year of your plan, we use the new income base to re-calculate your income. When we lock in a new income base it won't go down in the future (it could go up again) and we don't limit the amount your income could increase.

If you don't want or need to take your guaranteed income payments straight away you can defer them. If you defer them, every year before you start taking income payments after starting the plan we'll automatically increase the income base.

The amount your income base will increase by depends on how your fund value performs. it will increase by the higher of:

• 3.25% a year of your original investment, or
• the Monthiversary® lock-in value

Leaving money to loved ones

Having worked hard for many years to build your retirement portfolio, you would want the value of it to go to your loved ones if you die.

ASLI provides a death benefit guarantee, which could give you reassurance from knowing that any money left in your plan can be passed on to your loved ones. We guarantee to pay your estate the higher of:

• your original contribution less the guaranteed income payments received, or
• 100.1% of the cash-in value of your plan

It’s important to remember that, if you’ve received more in guaranteed minimum income payments than the amount you originally invested, and there’s no cash-in value, then there won’t be any money to pass on.

Choice over where your money is invested

We realise that everyone has their own attitude to risk, so we can give access to a range of portfolios and individual funds to help suit your needs.

Choose from either six ready-made portfolios, or if you prefer, you and your financial adviser can build your own portfolio using a range of funds from many of the leading fund managers in the business. Please be aware that depending on which portfolio or funds you choose, a different cost will apply.

Access to your capital and control of your tax

You can take money out at any time and have the choice of taking guaranteed regular income (monthly, quarterly, half-yearly or yearly) and/or one-off withdrawals. You can also change the frequency of payments to suit you.

Please remember that one-off withdrawals will affect the level of any future income.