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Aegon iTerm Term Insurance

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Aegon Term Insurance
iTerm Insurance Plan
Claim Settlement Ratio99.25%
Customer Care9:00 AM to 7:00 PM
Death Benefit Paid For344 Policies
Presence83 Branches
Total Death Benefit PaidRs. 64.60 Crore

About Aegon iTerm Term Insurance

Aegon Life iTerm Plan is a non-linked non-participating life insurance plan that comes in three plan options. It is a cost-effective plan that comes with add-on flexibility to choose from different plan options. These are Life Protect, which comes with life stage benefit, Protect plus that comes with auto-increase of cover, and Dual Protect that offers a survival benefit. The base sum assured under this plan is Rs. 25 Lakh. There is no maximum limit for base sum assured, and it is subject to Board Approved Underwriting Policy. Kindly note that there is no maturity benefit applicable under this plan. In case you survive till the date of maturity, then your policy will terminate and you will be paid no additional benefits.

The term for iTerm plan is subject to minimum and maximum maturity age. The minimum policy term for Life Protect is 5 years for regular pay and single pay, and premium payment term+5 years in limited pay. In Protect Plus, it is 15 years for regular pay, single pay, as well as limited pay. And in Dual Protect, it is 20 years for single pay and limited pay. The maximum term is 82 years. The premium payment frequency that you can choose for the plan is single, annual, half-yearly, or monthly basis. Also, if covered under the plan, you can avail tax benefits as per the prevailing tax laws.

Key Inclusions and Exclusions of the Plan

What's Included

  • Life cover till the age of 70 years
  • In-built terminal illness benefit
  • Death benefit
  • InstaCover benefit
  • Life Stage option in Life Protect plan option

What's Not Included

  • Terminal illnesses directly or indirectly resulting due to suicide or attempt of suicide
  • Claims will not be paid in case of misrepresentation of facts
  • Death due to a high risk activity
  • Accidental death in a war or during active military service
  • Claim arising due to people visiting in ‘restricted countries’

Aegon iTerm Insurance Plan Brochure

  • 606.17 KB
  • PDF Document
  • Jun 02, 2021

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Claim Process at Aegon Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

FAQs on iTerm Insurance Plan Health Insurance Plan

  • What are the factors affecting premium for iTerm plan?

    Factors affecting premium for your iTerm plan include age, gender, medical history of the family, profession, smoking and drinking habits, personal health and policy term. 

  • Why should I buy an iTerm plan?

    You should buy iTerm plan due to the following reasons: 

    • Financial security to your family in your absence
    • It reduces the burden of financial liabilities on your family in case of eventualities
    • It offers protection in case of risks of accidents and their resulting financial impact 
  • What if I missed my premium due date?

    In case you have missed your premium due date, then the company gives you a grace period of 15 days for policies under monthly frequency and 30 days for policies under yearly or half-yearly frequency from the premium due date to pay the premium. You can pay the same during this period. 

  • How can I pay a premium for the iTerm plan?

    You can pay the premium for an iTerm plan online in a fast and secure manner. The company offers safe payment options such as credit cards, debits cards, etc. 

  • Can I buy the iTerm plan online?

    Yes. You can buy the iTerm plan online without meeting any agent, and with no paperwork at all.  

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