Compare Aegon Term Insurance Plans

Aegon-Life-Insurance-Company

Aegon Life Insurance Company

Aegon Life Insurance Company Limited (formerly Aegon Religare Life Insurance Company Limited), an international provider of life insurance, pensions and asset management launched its pan-India operations in July, 2008 following a multi-channel distribution strategy with a vision to help people plan their life better through its term insurance, child plans, and pension plans.

Aegon Life Term Plans

Aegon term insurance policies are designed to ensures that your family is well taken care of financially in case of your sudden demise. You pay a small monthly, half-annual or annual premium every year for a certain period of time to buy a ‘life cover’, and if you pass away during this time, your family is paid the amount promised to you by Aegon.

Aegon Life offers different aegon term insurance plans as per different needs of the policy buyers.

Common Features of Aegon Life Term Plans:

  • Cost effective protection plans
  • Option of singe and joint life coverage
  • Option to increase life coverage as per your increasing life stage requirements
  • Financial security of your family in case of your absence 
  • Option of lump-sum amount for the financial security of your family
  • Option of regular monthly income to your family in your absence
  • Option of a guaranteed amount in case of a Terminal Illness
  • Additional benefits in case of accident, critical illnesses and disability
  • Flexible premium payment options
  • Tax benefits as per existing tax laws.

List of Different Term Insurance Plans Offered By Aegon Life Insurance Co. Ltd., With Benefits, Eligibility And Available Riders

Aegon Life iTerm Insurance Plan

A Non-Linked Non-Participating Term Insurance Plan
A Term Plan That Grows With You

Benefits:

  • Choice of Life cover till the age of 80 years
  • Option to increase your life cover on marriage, and on birth / adoption of child
  • Flexibility to opt for the whole or part of the total death benefit payout as regular monthly income
  • Flexibility to opt for a part of/whole of the death benefit payout as a lump-sum benefit to take care of immediate liabilities and expenses.
  • Inbuilt Terminal illness benefit
  • Additional coverage by choice of add-on riders.
  • Pay premiums every year or in a lump-sum as Single premium
  • Pay your yearly premiums either Annually, Semi-annually or Monthly
  • The premiums paid and benefits received are eligible for tax benefits under Section 80(C) and Section 10(10)D, upon fulfillment of the conditions laid down  for availing such benefits.

Eligibility:

Entry Age Minimum - 18 years last birthday | Maximum - 65 years last birthday
Maturity Age Maximum - 80 years last birthday
Policy Term Minimum - 5 years | Maximum - 62 years
Policyholder can opt for any Policy Term between 5 years and 62 years, subject to maximum maturity age of 80 years
Premium Payment Term Single Pay / Equal to Policy Term
Total Sum Assured Minimum - 25 lakhs | Maximum - No limit, subject to underwriting
Premium Payment Mode* Single, Annual, Semi-Annually and Monthly

Riders Available With This Plan:
Aegon Life AD Rider (UIN 138B006V03): This Rider covers accidental death. In case of death due to accident, the cover amount (Sum Assured) under the rider will be paid.
Aegon Life WOP Rider on CI (UIN 138B007V02): This Rider covers 4 critical illness conditions: Cancer, Open Chest CABG, first Heart Attack and Stroke. On being diagnosed with any of these 4 critical illnesses, future premiums payable under the plan and riders (if any) are waived while the life cover and other rider cover continues.
Aegon Life iCI Rider (UIN: 138B011V01): This rider covers 4 critical illness conditions: Cancer, Open Chest CABG, First Heart Attack and Stroke. The cover amount (Sum Assured) under this rider will be paid in case of diagnosis of any of these 4 critical illnesses.
Aegon Life Women CI Rider (UIN 138B005V02): This Rider covers critical illnesses pertaining to women. On being diagnosed with any of the covered illnesses, a certain percentage of the base plan cover amount (Sum Assured) will be paid.
Aegon Life iDisability Rider (UIN 138B014V01): This rider pays lump-sum benefit under the rider plus waives off the future premiums payable under the base plan upon permanent disability of the Life Assured due to accident or sickness.
These riders can be attached to a base plan on policy commencement or at any time during the term of the base plan.

iSpouse Insurance Plan -A non-linked, non-participating joint life term assurance plan.

A Comprehensive Protection Plan With Multiple Benefits For You And Your Spouse.

Benefits:

  • Husband and wife both are covered in a single plan
  • Lump sum paid on death of either (you or your spouse) of the lives
  • Regular monthly income
  • Additional payout on Accidental Death
  • Inbuilt Terminal Illness Benefit i.e. 25% advance payment on diagnosis of terminal illness
  • Waiver of Premium on Critical Illness through a rider
  • Simple online buying process

Eligibility:

Entry Age Minimum - 21 years completed | Maximum - 60 years completed
Maturity Age 65 years completed
Policy Term Minimum - 5 years | Maximum: 65 years minus higher of the entry age of two lives.
Premium Payment Term(PPT) Equal to Policy Term
Premium Payment Frequency Annual and Monthly
Sum Assured Minimum - 25,00,000 | Maximum: No Limit

Riders Available With This Plan:
Aegon Life WoP on CI Joint Life Rider covers the following 4 critical illness conditions:
1. Cancer
2. Coronary Artery Bypass Surgery
3. Heart Attack
4. Stroke
If any of the two lives get diagnosed with any of these four critical illnesses, future premiums payable under the base plan are waived while the life cover continues.

iIncome Insurance Plan - A non-linked, non-participating term assurance plan.

A Term Plan That Replaces Your Income.

Benefits:

  • Correct insurance amount: The plan provides an appropriate cover basis your changing lifestyle and current income
  • Security to your family: Immediate payment of 12 times of monthly income on death
  • Regular income to family: Increasing monthly income up to the age of 60 or for a period of 5 years, whichever is later
  • Increasing monthly expenditure: Annual increase of monthly payout by 5%
  • Comprehensive income protection: Inbuilt disability benefit which covers income in case of disability

Eligibility:

Entry Age Minimum - 25 years completed | Maximum - 50 years completed
Maturity Age 60 years completed
Policy Term 60 years minus entry age
Premium Payment Term(PPT) Equal to Policy Term
Premium Payment Annual, semi-annual, and monthly 1 2
Initial Monthly Income Minimum: 30,000 Maximum: No Limit

Riders Available With This Plan:
Aegon Life WoP on CI Joint Life Rider covers the following 4 critical illness conditions:
1. Cancer
2. Coronary Artery Bypass Surgery
3. Heart Attack
4. Stroke
In case the Life Assured is diagnosed with any of these critical illnesses, future premiums payable under the base plan and other riders (if any) are waived while the life cover and other rider covers continue.

iReturn Insurance Plan

A Term Insurance Plan That Returns The Premium Paid

Benefits:

  • Life cover that pays a lump sum on death
  • Inbuilt Terminal Illness benefit
  • Choice of various Policy Term options to suit your protection requirement
  • Flexibility to choose the Premium Payment Term and the frequency of Premium payment as per convenience.
  • Choice of multiple Riders to enhance your protection
  • Premiums paid under the Policy are returned on survival at the end of Policy Term

Eligibility:

Entry Age Minimum - 18 years completed | Maximum - 65 years completed
Maturity Age Maximum - 75 years completed
Policy Term 5 / 10 / 15 / 20 years
Premium Payment Term Single / 5 years / Equal to the Policy Term
Premium Payment Frequency Single, Annual, Semi-annual, and Monthly
Sum Assured Minimum – 30 Lacs | Maximum – 4 Crores (Subject to underwriting requirements)

Riders Available With This Plan:
Aegon Life AD Rider (UIN: 138B006V02) – Gives the family a financial support to start with after the loss of your income by paying the Sum Assured under the Rider in addition to the Sum Assured under the Base Plan.

Aegon Life iCI Rider (UIN: 138B011V01) – On being diagnosed with any of the 4 critical illnesses, Sum Assured under this Rider is paid out and the Rider terminates while the life cover and other Rider cover (if any) continues. This rider attachment is possible only for annual premium frequency. The illnesses covered under this Rider are:• Cancer • Open Chest CABG • First Heart Attack • Stroke

Aegon Life WoP Rider on CI (UIN: 138B007V02) – In case the policyholder is diagnosed of any of the above mentioned critical ilnesses, then the future premiums are waived off but the policy still remains alive.

Aegon Life Women CI Rider (UIN: 138B005V02) – This Rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness a certain percentage of the Base Plan Sum Assured is paid.

Term Insurance Plan: Term Plans & Policy

A Term Plan That Offers More Than The Sum Assured

Benefits:

  • You have the option to choose from the 2 available Death Benefit Options.
  • Death Benefit Option 1: In case of death of the Life Assured, Sum Assured under the plan will be paid and the Policy will cease to exist.
  • Death Benefit Option 2: In case of death of the Life Assured,  50% of the Sum Assured is paid immediately  3% of the Sum Assured is paid every month, starting the next policy month for the next 5 years.
  • In case of death of the Life Assured due to an accident, additional benefit equal to 100% of the Sum Assured will be paid subject to maximum of 1 Crore.
  • If death occurs due to accident then the death benefit will be as below:
  • Accidental Death Benefit Option 1: 200% of the Sum Assured will be paid.
  • Accidental Death Benefit Option 2: 150% of the Sum Assured will be paid along with 3% of the Sum Assured paid every month for next 5 years.

Eligibility:

Entry Age Minimum 20 years completed; 30 years last birthday for 10 year Policy Term
Entry Age Maximum 65 years last birthday
Maximum Maturity Age 75 years last birthday
Minimum Sum Assured 10,00,000
Minimum Premium 2,390 p.a.
Policy Term 10 / 15 / 20 / 25 / 30 / 35 / 40 years and 75 years minus age at entry
Premium Payment Term Equal to Policy Term
Premium Payment Mode Annually, Half Yearly & Monthly

Riders Available With This Plan

Aegon Life CI Rider (UIN: 138B001V02) - Sum Assured under the rider is paid out if the Life Assured is diagnosed with any of the covered critical illness. The following illnesses are covered under the rider:
• Cancer
• Coronary Artery Bypass Surgery
• Heart Attack (Myocardial Infarction)
• Kidney failure (End-stage Renal Failure)
• Major Organ Transplant
• Stroke
• Paralysis
• Heart Valve Surgery
• Surgery for a disease of Aorta

Aegon Life TPD Rider (UIN: 138B010VO2) - The Sum Assured under this rider is paid out if the life assured
become totally and permanently disabled.

Aegon Life Women Care Rider (UIN: 138B009VO2) - This rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness a certain percentage of the base plan Sum Assured will be paid.

Aegon Life Premium Shield Rider (UIN 138B013V01) - This rider waives off the future premiums payable under the base plan upon permanent disability of the Life Assured.

Customer Service Forms: Odia

A Life Insurance Plan With Monthly Payouts

Benefits:

  • In case of death of the life assured INR 10,000 will be paid per month for a period of 10 years starting from the next monthly anniversary following the date of death and acceptance of claim.
  • Nominee also has the option to take the present value of the future payouts.

Eligibility:

Entry Age Minimum 20 years completed
Entry Age Maximum 50 years last birthday
Maximum Maturity Age 60 years last birthday
Sum Assured 12,00,000 (Sum of all the payouts i.e. 10,000 /month for 10 years)
Minimum Premium 2,021
Policy Term 10 years
Premium Payment Term Equal to Policy Term
Premium Payment Mode Premium Payment Mode

There are no riders available with this plan.

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