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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.
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.
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.
|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)|