With more people choosing their insurance cover online, Aegon Life Insurance has relaunched their flagship offering iTerm packing new features to make it a more attractive financial product.
The new plan aims to bring more people into the insurance cover and also cover the future needs of the households that may be under insured.
The plan available exclusively online offers some unique solutions like benefits that can tailor made based on the life stage of the customers, wherein one can increase their protection cover as per their convenience and foreseen future needs and milestones. iTerm also offers flexibility in the payment of premium with an option for monthly, half-yearly and annual basis against the earlier only annual payment option. The flexibility is also added to the death benefit payout as a lump-sum payment or fixed monthly income for 100 months or a combination of both. There is also a terminal illness benefit built-in.
The maximum maturity age has also been raised to 80 years, raising the maximum policy term to 62 year with the minimum entry age at 18 and maximum of 62 years.
Customers of Aegon iTerm policy also can top up with certain riders. Some of the riders are:
- Aegon Life AD Rider: In case of an accidental death of the life assured, the sum assured under the rider will be paid.
- Aegon Life iCI Rider: It covers 4 critical illness conditions i.e cancer, open chest CABG, first heart attack and stroke.
- Aegon Life WOP Rider: For the above mentioned 4 critical illness, future premiums payabale under the base plan and riders (if any) are waived
- Aegon Life Women CI Rider: for illness pertaining to women covered into two groups – malignant cancer of the female organs and birth of child with congenital disorders and complications.
- Aegon life disability rider: offering an immediate lump sum payout along with waiver of future outstanding premiums of the base plan in case of permanent disability of the life.