Sehwag PX
Aegon Term Insurance
  • 100 Years @ Rs.17* Day
  • 1 Crore Life cover @ Rs.411 Month*
  • 36 Critical Illness Cover
  • Death Benefit Payout in Instalments
  • Lower Premium Rates For Women

#Virukipolicy | T&C*

Free Quotes From Top Companies

Name
Phone No.

By proceeding you are accepting our T&C and privacy policy

Please Enter Other Details

D.O.B
Income
Email
City

Aegon Term Insurance

Why trust Aegon Life when there so many term insurance providers playing in the insurance market? Because, Aegon Life understands the needs of its customers and consequently introduce those insurance products that are highly affordable, worthwhile and beneficial for the Indian population to secure their family after their death.

Aegon term insurance plans fabricated dynamic plans to cater to the growing awareness about financial security from future eventualities. Aegon term plans not only ensures safety to the family after the death of the life assured but also becomes partner during accidents, disability, and critical illness by reducing your premiums and providing coverage accordingly.

How Aegon Term Insurance Can Help You?

  • Give you the choice to select sum assured according to your income,
  • Lifelong protection to family even after your death.
  • Holds your hand when you met any disability due to uninvited accidents/ sickness.
  • Take care of your health by granting coverage against 36 critical diseases.
  • Helps you in arranging funds for events like marriage and birth of children.

Best Reasons to Select Aegon Term Insurance

  1. Claim Settlement Ratio - The claim settlement ratio determines the customer satisfaction and the credibility of the company in providing due coverage to insured person. Aegon Life holds a ratio of 95.67% currently.
  2. Recognition and Titles - The company is honored by various awards and titles such as ‘Best product & distribution Award’,‘E-Business Leader Award, Best Service Quality Program Award’ and many more through nomination in several awards ceremonies.
  3. Brand Popularity - Aegon Life Insurance Company was established 170 years and have been running a successful business by offering spectacular services in finance and insurance sector.
  4. Reliable Customer Service - A customer satisfaction is necessary for the development of a company where Aegon Life holds excellence in providing quick and praiseworthy services just on a call or email.
  5. Innovation and Flexibility - The availability of a various range of term insurance plans which offer flexibility in choosing the sum insured, premium payment method, years of coverage and tenure of the policy according to the requirements of the policyholder.

Types of Aegon Term Insurance Plans

  • Aegon Life iTerm Plan
  • Aegon Life iTerm Plus Plan
  • Aegon Life iReturn Insurance Plan
  • Aegon Life Easy Protect Insurance Plan
  • Aegon Life iTerm Forever Insurance Plan
  • Aegon Life Term insurance Plan

Aegon Life iTerm Plan

Aegon Life iTerm Plan

Apart from giving death and terminal illness benefit, iterm plan also increases your sum assured to maximum 50% on happening of life stage events like marriage, childbirth.

Special Features:

  • Lifelong coverage to your family for 100 years.
  • 25% of the death benefit if any terminal illness is detected
  • Lump Sum and monthly income payment options for claim settlement
  • Comprehensive sum insured options from 25 lakhs to unlimited (as per the underwriting process)

Eligibility Criteria

Sum insuredRs 25 lakhs to unlimited (accountable to underwriting)
Age of entry18 to 65 years Pay Till 60 years option- 18 to 55 years
Maturity Age100 years
Tenure of the policy5 years to 67 years / till the age of 100 years

Aegon Life iTerm Plus Plan

Aegon Life iTerm Plus Plan

iterm plus plan is the best plans as it covers all the benefits like accidental death, critical illness, terminal illness etc through four different variants options.

Special Features:

  • It has several variants Life Plan, Life Plus Plan, Life & Health Plan, Life and Health Plus Plan.
  • Covers you till the age of 80 years
  • Provide death benefit, accidental death, terminal illness, permanent disability, and waiver of premium.
  • Extra coverage for maximum of 36 critical diseases.

Eligibility Criteria

Plan optionsLife OptionLife Plus OptionLife & health OptionLife & health Plus Option
Sum Assured25 lakhs to unlimited (as per underwriting process)
Age of entry18 years to 65 years
Age of Maturity80 years
Tenure of the policy5 years to 65 years minus Entry Age5 years to 70 years minus Entry Age5 years to 75 years minus Entry Age5 years to 80 years minus Entry Age

Aegon Life iReturn Insurance Plan

Aegon Life iReturn Insurance Plan

With special feature of Maturity benefit, the life assured will get Maturity value for this ireturn insurance plan the policy on completion of two or more years based on premium payment term selected.

Special Features:

  • On survival of the policyholder till the end of the policy, all the premiums are refunded.
  • Reduction in future premiums, if any signs of terminal illness were found.
  • 25% of the sum insured is immediately paid on a situation of terminal illness.

Eligibility Criteria

Sum insuredRs 10 lakhs to 4 crores
Age of entry18 to 65 years
Maturity Age80 years
Tenure of the policy5 years/ 10 years/ 15 years/ 20 years/ equal to policy term

Aegon Life Easy Protect Insurance Plan

Aegon Life Easy Protect Insurance Plan

If you are anxious about how your family will sustain after your death then Easy Protect Insurance Plan is perfect for you due to its cheapest value for premium and fixed premium paying term.

Special Features:

  • Payment of monthly income of Rs 10,000 for 10 years as death benefit following the death of assured.
  • Contains tax benefits under section 80D of the Income Tax Act.
  • Premium payment term and policy term is fixed and same i.e. 10 years.

Eligibility Criteria

Sum insuredRs 12 lakhs
Age of entry20 to 50 years
Maturity Age60 years
Tenure of the policy10 years

Aegon Life iTerm Forever Insurance Plan

Aegon Life iTerm Forever Insurance Plan

iTerm Forever Insurance Plan carries a unique feature of planned life stage benefit which raises your sum insured gradually every year without appearing for any underwriting process.

Special Features:

  • Raises your sum insured gradually after every 5 years
  • Protects you and your family for the entire life
  • Get financial safety for the rest of your life while you pay premium till 60 years.

Eligibility Criteria

Sum insuredRs 25 lakhs to unlimited (in reference to underwriting guidelines)
Age of entry18 years to 65 years
Pay till 60 years of age- 18 years to 55 years
Pay till 60 years of age- 18 years to 60 years
Maturity AgeWhole of the life
Tenure of the policyWhole of the life

Aegon Life Term insurance Plan

Aegon Life Term insurance Plan

Under the Term insurance Plan the beneficiaries as stated by assured, will receive claim amount either a lump sum or in regular incomes in harmony to the future demands of the family.

Special Features:

  • The benefit is payable in a lump sum or regular income or a mixture of both.
  • Minimum sum insured available is Rs 10 lakhs and maximum has no limits
  • Term of policy is between 10 years to 40 years.
  • The minimum age of entry is 20 years (for above 10 years policy term and 30 years (for 10-year policy term).

Eligibility Criteria

Sum insuredRs 10 lakhs to unlimited (accountable to underwriting)
Age of entry20 years to 65 years For 10-year Policy Term- 30 years to 65 years
Maturity Age75 years
Tenure of the policy10 years/ 15 years/ 20 years/ 25 years/ 30 years / 35 years/ 40 years and 75 years minus Entry Age

Features Of Aegon Term Insurance

Free-look PeriodMonthly premium payment- 15 days
Annual/semi-annual premium payment- 30 days
Riders AvailableAccidental Death Rider, Critical Illness Rider, Waiver of Premium Rider, Disability Rider
Renewability Can renew at any point during the policy tenure
Coverage Payout OptionsLumpsum / Monthly Income/ Lumpsum plus Monthly Income
Premium Payment OptionsMonthly/ Semi-Annual /Annually

Benefits of Aegon Term Insurance

Death Benefit After the death of the policyholder, the nominee will receive the entire sum insured in a lumpsum or in monthly income or increasing monthly income as selected by the sum insured.

Terminal Illness Benefit- Diseases that result in the ultimate death of the person are terminal illnesses. The policyholder will receive lumpsum payment on diagnosis of same.

Life Stage Benefit- The sum assured can be raised to a maximum of 50% when any life stage event occurs which requires huge funding in lumpsum like marriage and childbirth. By giving evidence of the event within a time period, the assured can propose the company to increase the basic coverage to some percentage.

Aegon term plans that carry Life Stage benefit are -

  • iTerm Insurance Plan
  • iTerm Forever insurance Plan
  • iTerm Plus Plan

Let us see how much increase is provided on happening of a specific event -

Event % Increase in the Sum Assured of the total Sum Assured
Marriage (One Marriage Only)50%
Birth/Adoption of 1st Child25%
Birth/Adoption of 2nd Child25%

Tax Benefits - Every term insurance involves tax exemption for the premium paid under section 80C of the Income Tax Act. The exemption will be given to a maximum of Rs 1.5 lakhs on the annual tax paid on the total taxable income.

Rider Benefit - Aegon Life Term Plan offers optional coverage or riders for critical illness and accidental death, permanent disability and waiver of premium at a cheaper rate of premium.

Claim Payout Options - At the time of purchasing term plan, you will be asked various questions in which one will be payout options. This becomes applicable when you apply for a claim and your beneficiaries will get coverage either in lumpsum or monthly income or amalgamation of both as opted by the policyholder.

Affordable Prices and Easy Purchase Policy - The policy promises a cheap and affordable rate of premiums for a specific duration. Anybody interested in buying a term plan by Aegon life has to undergo a simple and minimum time-consuming process as the whole process of buying is online.

Low Premiums High Coverage - Almost every term plan comes with the benefit of lower premiums for higher coverage. Also, young age policyholder can avail lower premiums as in comparison to older policyholders.

Aegon Term Insurance Riders

Accidental Death Rider

Road accidents are common especially in India due to reckless driving and disobeying traffic rules. To secure your family in case you met any accidental death, Aegon life term plan serves extra sum insured with payment of additional premiums along with base premiums.

Single premium paying policies are not eligible to take accidental death rider.

Eligibility Criteria

Sum Assured Rs 10,00,000 to basic sum assured opted
Entry Age18 years to 65 years
18 years to 55 years (for policies paying premium till 60 years of age)
Maximum Age of Maturity85 years
Term of RiderEqual to the policy
Minimum Premium AmountRs 450 per year

Disability Rider

When you confront accidents, there is a possibility of getting partially or fully disabled where life becomes miserable. This term plan gives you extra coverage of Rs 5 lakhs to Rs 50 lakhs maximum for happening of disability

Critical Illness Rider

This rider will raise your protection from a critical illness like heart attack, cancer, kidney failure, etc through additional cover for a period equal to the duration of the term plan.

Different term insurance plans cover a different number of critical illness as specified below

  • iTerm Plan - 4 critical illness
  • iTerm Plan Plus- 10 critical illness (life and health plan) and 36 critical illness (in life and health plus plan).
  • iTerm Forever insurance Plan- 4 critical illnesses
  • iReturn Insurance Plan - 4 critical illnesses
  • Life Term insurance Plan - 9 critical illness

Illness Covered

  • Coma
  • Deafness
  • Blindness
  • Encephalitis
  • Poliomyelitis
  • Kidney failure
  • Loss of Limbs
  • Open Chest CABG
  • Apallic Syndrome
  • First Heart Attack
  • Paralysis of limbs
  • Aorta Graft Surgery
  • Loss of Speech
  • Aplastic Anaemia
  • Third Degree Burns
  • End-Stage Lung Failure
  • Coronary Artery Disease
  • End-Stage Liver Failure
  • Fulminant Viral Hepatitis
  • Cancer (specific severity)
  • Major organ/ Bone Marrow Transplant
  • Primary (Idiopathic) Pulmonary Hypertension
  • Motor Neuron Disease with permanent symptoms
  • Major Head Trauma
  • Progressive supra
  • Benign Brain Tumor
  • Parkinson’s Disease
  • Muscular Dystrophy
  • Bacterial Meningitis
  • Progressive scleroderma
  • Medullary Cystic Disease
  • Systemic Lupus Erythematosus
  • Stroke resulting in permanent symptoms
  • Heart Replacement or repair of heart valves

Eligibility Criteria

Sum Assured Rs 10,00,000 - Rs 50,00,000
Entry Age18 years to 65 years
Maximum Age of Maturity75 years
Term of Rider5 years to Premium Payment Term of the policy

Income Benefit Rider

To lock the protection of your family after your death, you should buy the rider which will ensure regular supply of income of the sum insured for around 10 years maximum.

Premium Shield Rider

At some point of time you may become inefficient to deposit the premiums due to disability occurred because of accidents or illness that directly degrades the income generating capacity of the policyholder. With due concern to it, all the upcoming premiums are waived off for the remaining period of the policy.

The disabilities considered to get due coverage under this rider are-

  • Loss of or loss of use of both Limbs
  • Loss of eyesight in both eyes
  • Loss of speech
  • Loss of hearing in both ears
  • Loss of or loss of use of any one limb

Aegon Life Women CI Rider

Aegon Life believes in maintaining not only financial security but also ensured the safety of women from pernicious diseases that may arise on childbirth or during pregnancy or complication in an organ. Illnesses covered are-

  • Malignant Cancer of the Female Organs (Category 1)
  • Birth of a child with Congenital Disorders/Surgeries (Category 2)
  • Pregnancy Complications (category 2)

The Aegon term plans that carry Women CI Rider are -

  • iTerm Insurance Plan
  • iTerm Forever insurance Plan
  • iReturn Insurance Plan
  • Life Term insurance Plan

Eligibility Criteria

Malignant Cancer of the Female OrgansBirth of a child with Congenital Disorders/Surgeries AND Pregnancy Complications
Sum AssuredRs 50,000 to Rs 10,00,000 (5% of the basic sum assured)Rs 25,000 to Rs 5,00,000 (2.5% of the basic sum assured)
Entry Age18 years to 65 years18 years to 65 years
Maximum Age of Maturity75 years40 years
Term of RiderMinimum: 10 years Maximum: 40 years
GenderOnly applicable to females as the disease is found in the woman

Customer Reviews

Process Of Buy Aegon Term Insurance

  • Fill your details in the portal given above like age, name, annual income, sum assured, term of the policy, mobile number, email ID, tobacco addict or not, gender, place of residence
  • Calculate your premium and add riders of your choice which can safeguard you from accidents, disability, and critical illness.
  • Premium will automatically disclose on the screen where you can have an idea of gross premium after tax. Select the premium payment options and death benefit payout options.
  • After ensuring all the details are correct then proceed to buy the term plan.
  • Next, you will be asked to acknowledge contact and personal information, education and work details, and information of the nominee selected.
  • Furnish the evidence of identity, address proof, and bank details like Aadhaar Card, PAN card along with medical examination results/reports.
  • The final decision to issue policy is in the hands of Aegon Life whether to issue the policy or not after verification of all the information provided.

Exclusions

  • Any death occurred due to intentional injury or suicides are excluded.
  • Any terminal illness resulting from HIV/AIDS is excluded

Review of Aegon Term Insurance

Aegon Life Insurance has in a very short time and in a very fast pace have successfully invaded the insurance sector by delivering unparalleled customer services with claim settlement of 95.67% and 4.4 lakhs of happy customers all over India. Aegon Life runs with perpetual support from Bennett, Coleman & Company which is designated as India’s largest operating media chain.

Moreover, the company has been awarded by various awards agencies for its innovation and precision in the insurance and finance sector

FAQs

The claim settlement ratio of Aegon Life insurance is 95.67% as it understands the need for timely payment of the claim when an emergency arises.

The critical illness such as cancer, open chest CABG, paralysis of limbs, strokes, heart attack, kidney failure, sclerosis, blindness, brain tumor, liver and lung failure, etc. are some of the diseases that are given coverage under critical illness rider.

The iTerm plan of Aegon Life covers you till the age of 100 years where you can escalate the value of life cover during the policy term.

  • Loss of both the eyes and turning the person blind.
  • Loss of both limbs (legs or arms) and have affected the working ability.
  • Loss of one limb and one eye which cannot get recovered.
  • Loss of two or more limbs above the wrist or ankles.
  • Impotent to carry personal care activities like bathing, getting in and out of bed, eating, dressing, or maintaining personal hygiene.
  • Identification proof along with a passport-sized photo
  • Income proof and Bank proof
  • Address Proof
  • Age proof

The average time taken by Aegon Life insurance is 7 days with the proper submission of important claim documents. This time limit can be extended if the claimant fails to submit requisite documents.

  • Claimant statement
  • Certificate of employer
  • Physician Statement who is attending
  • Hospital certificates
  • FIR copy (for accidental death claim)

Inform the company about the issue and the accurate surrender of documents. Aegon life will verify the documents and then process the claim as soon as possible. The nominee will get all the benefit amount along with the basic sum insured if the claims are accepted.

  • Application form
  • Hospital treatment certificate
  • Employer’s certificate
  • Physician Statement who is attending and treating the assured for a critical illness only.

Yes, a policyholder can attach and detach rider at any point of time on a condition that policy is active and premium is paid regularly on time. Riders can be attached at inception or during the term of the policy by requesting the company to process. To detach, the assured need to wait for the next premium due date of the policy with regards to the underwriting process.

A free look period of 15 days(Monthly policies) / 30 days (yearly and half-yearly policies) is given to the policyholder to review and investigate the pros and cons of the policy by reading all the terms and conditions. If the policyholder is not contented with any mentioned clause in policy wordings, then he/ she can easily convey their decision to the company to cancel the policy. The policy is declared as a cancelled with a refund of premiums submitted till date with a deduction of Stamp duty paid or medical cost if occurred.

- / 5 ( Total Rating)

Last updated on 04-09-2019