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Aegon Life Term Insurance Plan

What is the Plan all About?

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

What are the Plan 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.

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.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 20 Years 65 Years
Age at Maturity - 75years
Policy Tenure 10 75 Years Minus Age At Entry
Premium Paying Term Same As Policy Term -
Premium Paying Mode Annually,Semi-annually And Monthly -
Sum Assured 10 Lacs No Limit (sub Jto Underwriting)
Maturity Benefit Nil -
Surrender Benefit Nil -