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Term Insurance 3515 views December 9, 2019
Aegon Life Insurance Company, as it is known today, started off as Aegon Religare Life Insurance Company in 2006. It is one of the prominent names in the financial services and Insurance sectors of India. Aegon offers insurance coverage policies at attractive premiums with varied features to suit the individual needs of the consumers. It offers a range of life insurance products and term plans are one such type of product offered by the company.
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Term Insurance Plans are insurance policies with a fixed term or a specified number of years. The insurer company promises to pay the insured person or the policyholder the amount of insurance in the event of an untimely death of the insured within the period of the insurance. This amount is paid to the nominee as mentioned in the policy as per the mode of payment selected. Term insurances are less expensive than the regular insurance policies in terms of the premiums paid but they assure only death benefits and have no cash benefits involved.
Aegon Life Term Plan has been comprehensively revised to provide maximum benefits to the policyholder and give the best possible options to choose from. Keeping the interests of the consumers in mind, Aegon Life brings a host of Term Plans to suit the needs of all kinds of consumers.
The Aegon Life iTerm Insurance Plan offers a protection plan which is affordable and flexible to suit the needs of all kinds of investors. It covers the policyholder up till the age of 100 and has three options to choose from.
The Aegon Life iTerm Insurance Plan has distinctive features and benefits which sets it apart from the other plans:
Entry Age | 18 years to 65 years |
Policy Term | 5 years to 20 years |
Sum Assured | Minimum of Rs.25 Lakhs |
Premium Payment Frequency | Single/Annual/Half-Yearly/Monthly |
Another Term Insurance Plan offered by the house Aegon, the Easy Protect Plan provides a death benefit of Rs.10000 monthly to the nominee after the death of the person insured for 10 years. Other features of the plan are as follows:
Entry Age | 20 years to 50 years |
Policy Term | 10 years |
Sum Assured | Rs.12 Lakhs |
Premium Payment Frequency | Annually |
Minimum Premium Payable | Rs.2021 |
The iTerm Insurance Plan offers 4 different option to choose from depending upon the extent of the cover you are seeking through the policy.
The premium for the policy increases with the additional features being added to the plan for better cover. The basic features of the plan are listed below for easy reference:
Entry Age | 18 years to 65 years |
Policy Term | 5 years to 62 years depending upon the policy taken. |
Sum Assured | Death Benefit – Rs.25 Lakhs Accidental Death Benefit – Rs.50,000 Critical Illness Benefit – Rs.5 Lakhs |
Premium Payment Frequency | Annual/Half-yearly/Monthly |
Aegon Life is a brand as old as 170 years and so trust and reliability are deeply embedded in the name. Though the Company has taken roots in India since 2008 only, it has established itself and has garnered accolades and appreciations in the form of many awards and recognitions at various renowned programmes. In the year 2018-19 Aegon Life has registered a claim settlement ratio of 96.45% which speaks volumes about the Company.
Investing in a Term Insurance for the financial security of your kith and kin is a wise decision but at the same time involves some mindful thinking and calculations. It is advisable to check on all the details of the policy you are opting for and weigh the pros and cons to the best of your benefit in the long run.