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Aegon Life Term Insurance Plans

Life is unpredictable, events are not in our hands but to plan for an unpredictable event is a smart move. Aegon life Term Insurance Plans come with various plan options to suit your protection needs and provides a financial protection for your family in your absence. The Aegon life term plan ensures that your family is well taken care of financially in the event of your unfortunate demise.

Aegon Life Insurance Co. has 95% as Claim Settlement Ratio for the financial year 2015-16.

Aegon Life Insurance Co. offers following Term Insurance Plans:

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1. Aegon Life iTerm Insurance Plan

If you desire your family or loved ones to maintain the same lifestyle, wheather you are around or not, this is the right plan for you.AegonLife’s iTerm plan ensures a wide financial protection to your loved ones at a nominal premium cost in a hassle free way online.

Key Features

• Life Cover upto the age of 75 years

• Inbuilt Terminal Illness Benefit

• Easy Claim Assistance

• Enhanced coverage with the option of Riders

Benefits

  • Death Benefit

    In the event of death of the life insured during the policy term, the co. will pay out the sum assured to the designated nominee.

  • Inbuilt Terminal Illness Benefit

    On diagnosis of the listed terminal illness, 25% of the sum assured is paid to the life insured subject to the maximum of 100 lakhs and the death benefit will reduce equal to the amount already paid to the insured.

  • Surrender Benefit

    The single pay policies are eligible for surrender after completion of 3 policy years.The surrender benefit is payable as per the policy contract. Regular pay policies does not acquire a surrender value.

  • Rider Benefit

    Aegon life iTerm plan offers a list of comprehensive riders which include Accidental Rider, Critical Illness Rider, WOP Rider,Woman CI Rider, I disability rider to choose from to enhance the protection coverage.

  • Tax Benefit

    Under this plan, the premium payment is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled to the tax exemptions as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity - 75 years
Policy Tenure 5 years 40 or upto 75 years
Premium Paying Term Single or Same as policy term Years -
Premium Paying Mode Single & Annually -
Sum Assured 10 Lacs No Limit (subject to underwriting)
Maturity Proceeds Nil -

2. Aegon Life iReturn Insurance Plan

If you are looking for a pure protection plan along with return of premiums paid in the event you survive the term Aegon Life iReturn plan is best suited to you. Also, you may get rid of the tedious paper work and buy the term plan with return of premium online in a hasslefree way.You should purchase this plan if you are the sole earning member of your family.

Key Features

• Inbuilt Terminal illness benefit

• Choice of numerous policy term options

• Multiple Rider option to choose from

• Return of premiums on survival of the term

Benefits

  • Death Benefit

    Your nominee or family will receive a lumpsum amount which is sum assured as a death benefit proceeds in case of your unfortunate demise during the policy term.

  • Inbuilt Terminal Illness Benefit

    On diagnosis of the listed terminal illness, 25% of the sum assured is paid to the life insured subject to the maximum of 100 lacs and the death benefit will reduce equal to the amount already paid to the insured.

  • Maturity Benefit

    The premiums paid during the policy tenure (except for the service tax,rider premium or any extra premium, if charged) will be returned back as maturity benefit in case you survive the policy term and the policy is premium paying.

  • Surrender Benefit

    The single pay and limited pay policies are eligible for surrender after completion of a specific number of policy years. The surrender benefit is payable as per the policy contract. Regular pay policies does not acquire a surrender value.

  • Rider Benefit

    The Aegon life iTerm plan offers a list of comprehensive riders which include Accidental Rider, Critical Illness Rider, WOP Rider,Woman CI Rider to choose from to enhance the protection coverage.

  • Tax Benefit

    Under this plan, the premium payment is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled to the tax exemptions as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity - 75 years
Policy Tenure 5 years 20 years
Premium Paying Term Single, 5 pay or Same as policy term Years -
Premium Paying Mode Single, Annually,Semi-annually and monthly -
Sum Assured 30 Lacs 4 crore (subject to underwriting)

3. Aegon Life iSpouse Insurance Plan

Aegon life offers a term plan where you can secure your life and your spouse life under one umbrella policy.It provides policy benefits in case something happens to you or your spouse or both.An ideal plan for working couples.

Key Features

• One single policy to cover husband & wife

• Inbuilt Terminal illness benefit

• Lumpsum paid on death of either of the life insured

• Regular monthly income benefit

• Simple, hassle free online buying process

Benefits

  • Death Benefit

    In the event of death of either of the insured (husband or wife) during the policy term, the death benefits are paid top the surviving life insured which is 100% of the sum assured once the claim is accepted.

  • Monthly Income Benefit

    After the lump sum payment on death, the monthly payment of 1.75% of Sum Assured for a period of 60 months commencing from next monthly policy anniversary is paid under this plan. The surviving life will not have the option to take the discounted value of the Monthly payments. If the surviving life dies during the monthly payout period, then the monthly payment will continue to be paid to the legal heir(s) of the policy holder.

  • Accidental Death Benefit

    In case of accidental death of either of the insured’s, 50% of sum assured is payable to the surviving life along with the death benefit restricted upt0 100 lacs.

  • Accidental Death Benefit

    In case of accidental death of either of the insured’s, 50% of sum assured is payable to the surviving life along with the death benefit restricted upt0 100 lacs.

  • Inbuilt Terminal Illness Benefit

    On diagnosis of the listed terminal illness, 25% of the sum assured is paid to the life insured subject to the maximum of 100 lacs and the death benefit will reduce equal to the amount already paid to the insured.

  • Rider Benefit

    This plan offers one rider, which is Aegon Life WoP on CI Joint Life Rider which covers 4 critical illness conditions.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 18 years 65 years
Age at Maturity - 75 years
Policy Tenure 5 years 65 years minus the higher of the entry age of two lives
Premium Paying Term Same as policy term Years -
Premium Paying Mode Annually and monthly -
Sum Assured 25 Lacs No Limit (subject to underwriting)
Maturity Benefit Nil -
Surrender Benefit Nil -

4. Aegon Life iIncome Insurance Plan

If you want your family to have an income to continue even in your absence, Aegon’s I income is the right plan for you. His plan provides lumpsum pay out on death of the insured plus the regular flow of money as a form of income will keep the family’s financial requirement on track.

Key Features

• Lumpsum death benefit paid to the nominees

• Regular income benefits to meet family’s financial requirement

• Incremental Income Benefit to combat inflation

• Coverage of disability

• Enhanced protection by opting the riders

• Hassle free way of buying the plan online

Benefits

  • Death Benefit

    In the event of the demise of the life insured, the nominees receive 12 times of the monthly income benefit in the policy year of death will be paid as lump sum immediately.

  • Monthly Income Benefit

    Monthly income benefit on death will start from the next monthly policy anniversary upto the end of the policy term or for a tenure of 60 months, whichever is later. Also, the monthly income benefit will increase by 5% p.a. on every policy anniversary upto the age of 59 years.

  • Partial & Permanent Disability Benefit

    In case of Partial and Permanent Disability due to accident or sickness, all future premiums will be waived off. The monthly income for disability benefit will start from the next monthly policy anniversary upto the maturity of the policy or for a period of 60 months, whichever is later. The monthly income for disability benefit will increase by 5% p.a. on every policy anniversary upto the age of 59 years.

  • Rider Benefit

    This plan offers one rider, which is Aegon Life WoP on CI Joint Life Rider which covers 4 critical illness conditions.

  • Tax Benefit

    Under this plan, the premium payment is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled to the tax exemptions as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 25 years 50 years
Age at Maturity - 60 years
Policy Tenure 60 years minus entry age -
Premium Paying Term Same as policy term Years -
Premium Paying Mode Annually,Semi-annually and monthly -
Maturity Benefit Nil -
Surrender Benefit Nil -

5. Aegon Life Term Insurance Plan

If you want your family to sustain the same lifestyle in your absence, this plan is for you.Aegon Life Term insurance plan offers a financial protection for your family with a life cover.It is imperative to protect our loved ones financially and there is no better way than opting for a pure protection term plan of Aegon Life.

Key Features

• Option to choose between the death benefit 2 available options

• Inbuilt Accidental death benefit

• Policy term available to cover upto age 75 years

• High Sum insured discounts

Benefits

  • Death Benefit

    Option 1: In the event of death, of life insured, the sum assured is paid as lumpsum to the designated nominee and the policy ceases.

    Option 2: In case of death of the Life Assured, 50% of the Sum Assured immediately and 3% of the Sum Assured every month is paid to the nominee starting from the next Policy month for the next 5 years - Nominee will have an option to take the discounted value of the future payouts anytime.

  • In built Accidental Death Benefit

    If the death of the life insured occurs due to an accident (as prescribed in the policy contract), additional 100% of the sum insured is payable to the nominee along with the basic death benefit payout.

  • Rider Benefit

    The plan offers multiple rider benefits to enhance the protection. The riders available are Aegon Life Premium Shield Rider, Aegon Life CI Rider, Aegon Life TPD Rider and Aegon Life Women Care Rider.

  • Tax Benefit

    Under this plan, the premium payment is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled to the tax exemptions as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 20 years 65 years
Age at Maturity - 75 years
Policy Tenure 10 years 75 years minus age at entry
Premium Paying Term Same as policy term Years -
Premium Paying Mode Annually, Semi-annually and monthly -
Sum Assured 10 Lacs No Limit (subject to underwriting)
Maturity Benefit Nil -
Surrender Benefit Nil -

6. Aegon Life Easy Protect Insurance Plan

You have always given the best to your loved ones. Life is unpredictable and uncertain, it is important to plan about the future of your loved ones in your loved ones in your absence. To deal with your concern Aegon life brings Easy Protect insurance plan which is a pure term plan to safeguard your family in your absence.

Key Features

• Pure protection plan at affordable cost

• No Medicals under the plan

• Per month regular income for 10 years

• Easy premium payment options

• Tax benefits under income tax act

Benefits

  • Death Benefit

    In case of death of the life assured Rs 10,000 will be paid monthly for a term of 10 years , starting from the next policy monthly anniversary after death and claim acceptance. Nominee also has the option to take the present value of the future payouts. The interest rates calculated for deriving at the present value will be decided by the company from time to time.

  • Tax Benefit

    Under this plan, the premium payment is eligible for tax benefits as per Section 80C of the Income Tax Act and the policy proceeds are also entitled to the tax exemptions as per Section 10 (10D) of the Income Tax Act.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 20 years 50 years
Age at Maturity - 60 years
Policy Tenure 10 years 10 years
Premium Paying Term Same as policy term -
Premium Paying Mode Annually -
Sum Assured 12 Lacs Not specified
Maturity Benefit Nil -
Surrender Benefit Nil -
Riders Not Available -