Aegon Life iTerm & iTerm Plus Insurance Plan

A cost-effective, non-linked and non-participating term insurance plan that ensures payment of death benefits in lieu of monthly or yearly premium payments. Affordable in nature, this term plan is known for the high insurance cover that customers can avail at low premium charges.

Key Benefits of Buying Aegon Life iTerm and iTerm Plus Insurance Plan Include

1. Low premium rates for females and non-smokers
2. Option to increase life cover with growing needs
3. Waiver of premiums on the diagnosis of any terminal illness
4. 25 percent of the death benefits handed over in the event of detection of any critical disorder
5. The flexibility of death benefits payout as the policyholders may choose between lump-sum payment, a fixed monthly income for 100 months or a combination of both
6. Policyholders may enhance the policy cover by choosing add-on riders including accident cover, critical illness cover or permanent disability by paying extra premiums
7. Online availability means that the customers do not have to go through the hassle of submitting physical documents or paying premiums by cheques
8. Whole life cover available till 100 years which implies greater chances of the nominee getting death benefits in the event of the policyholder’s unforeseen death
9. Minimum sum assured is Rs 25 lakhs while the maximum can go up to any limit subject to the underwriter’s terms and conditions
10. Dual tax benefits as per existing laws

Documents That Need To Be Submitted Along With the Insurance Policy Proposal

While filling the insurance policy proposal form, it is important that the customers must submit the following documents including:-

1. Documents showing Identity proof
2. Documents showing address proof
3. Documents showing the age proof
4. Passport-sized photograph
5. Last salary slip received from the employer as income proof
6. Canceled cheque of the bank in which the policyholder would like the death benefits to be credited

Other Aegon Life Insurance Plans

Aegon Life iTerm Plan is not the only plan that the company sells to its customers. The company also avails its customers the benefits of multiple insurance plans including:-

1. Health Insurance Plans
2. Unit Linked Insurance Plans (ULIPs)
3. Term Insurance Plans
4. Savings Plans
5. Retirement Benefits Plan
6. Child Plan
7. Rural Plans
8. Group Insurance Plans

Increasing customer base explains the growing affinity of customers towards the plans sold by Aegon Life Insurance Company. Also, the company’s claim settlement ratio (CSR) affirms its credibility as the company is inclined to settle claims made by their customers and their appointed nominees.

Caveat

1. If the policyholder dies by suicide within 12 months of the policy purchase, only 80 percent of the premiums paid is disbursed as death benefits.
2. If the death of the policyholder is due to suicide within 12 months of the policy revival, then the death benefit is the higher of either 80 percent of the premium charges paid till the date of death or surrender value as on the date of death.