Quote Form

Our representative will call you within few minutes
Term Insurance 1260 views January 19, 2021
Life Insurance has become an important part of our life. Everybody wants to secure the life of their family in case they are not around. But are you looking for a life insurance plan with which you can change your sum insured amount according to the changing needs? Well, Aegon Life iTerm Forever Insurance Plan can provide you the same! With this plan from Aegon Life, you can get lifelong protection, protection against the financial risks of accidents, critical illness & disability, and the convenience of increasing your life cover.
What are some other key features of Aegon Life iTerm Forever Insurance Plan? Well, you can know the same and other important things like the sum insured amount, eligibility conditions, etc. on this page. Read on to know more!
Table of Contents
Aegon Life iTerm Forever Insurance Plan is a Non-linked Non-participating Whole of Life Term Insurance Plan with which you can ensure the financial security of your family in case you are not around. But what are those reasons that make it one of the popular and beneficial insurance plans for people? Well, you can know the same by looking at some of the key features of this life insurance plan from Aegon Life. Have a look!
With the iTerm Forever Insurance Plan from Aegon Life, individuals can choose a sum assured amount that can be as low as INR 25 lakh while there is no maximum limit on the overall risk coverage amount.
Aegon Life iTerm Forever Insurance Plan provides a wide range of benefits to policyholders that you should know. We are showing the same below. We are starting with the death benefit. Please check!
In case the life assured dies anytime on or after the inception of the policy date, the nominee will receive death benefits according to the entry age of the life assured. Remember that there should be no due premiums. The policy will terminate after the payment of the death benefit. Check out the below table to know more about the death benefit!
Entry Age Less than 45 Years | Entry Age of 45 years and Above |
---|---|
Higher of 10 times the annualized premium, or 105% of all the premiums paid until the date of death, or the sum assured, or as applicable on the date of death | Higher of 7 times the annualized premium, or 105% of all the premiums paid until the date of death, or the sum assured, or as applicable on the date of death |
As we mentioned in the key features of the Aegon Life iTerm Forever Insurance Plan, individuals can enjoy a few benefits at the important stages of their lives. There are two options from which you can choose at the inception of the policy – Event-Based Life Stage Benefit Option and Planned Life Stage Option.
With the Event-Based Life Stage Benefit Option, you can increase your sum assured at any one or all the events mentioned below in the table. However, you need to pay an additional premium amount.
Event | Additional Sum Insured as % of the Original Sum Insured |
---|---|
Marriage (one marriage only) | 50% |
Birth or Adoption of the First Child | 25% |
Birth or Adoption of the Second Child | 25% |
On the other hand, if you choose the Planned Life Stage Option, your sum assured will automatically increase every 5 years by 20% of your current sum insured. It will start from the 5th anniversary policy year and keep increasing until the insured person attains the age of 55 years.
What are those important conditions that you should keep in mind when choosing the Aegon Life iTerm Forever Insurance Plan? Well, you can know them below. Do check!