What is term insurance?
A term insurance is a form of life insurance that provides coverage only for a period of time and expires after that. It is curated to cover the basic needs of the family in case of untimely death of the policyholder.
Why choose Aegon iterm insurance?
Aegon Life iterm insurance is an online term insurance plan that gives you lucrative benefits like 25% term insurance sum assured as an advance, tax benefits, maturity benefits etc. You can also choose from different options available to pay your premium. If you’re looking for a plan that makes sure that your family sustains the lifestyle that you created for them in your absence, then this plan is for you.
Benefits provided by Aegon iterm insurance
Added benefits to the policy make sure that the policy suits your needs perfectly. Aegon iterm insurance gives you 5 different benefits that cover you from all unexpected events in life.
- Life Cover
Unlike regular term insurance plans, iterm gives you a benefit of life cover that is, it covers you till the age of 75 years.
- Tax Benefit
Under section 80 (c) and section 10 (D) of income tax act 1961, term insurance offers many exciting offers on tax benefits.
- Death benefit
In case the policyholder dies during the period of term plan, 100% sum is given to the assigned beneficiaries.
- Death benefit 2
In case of death of policyholder, death benefit 2 gives 50% of the assured sum instantly, while the rest of the amount is paid in regular income of 3% of cover amount every month.
- Inbuilt accident
In case of accidental death, an additional amount of 100% of the insurance amount is paid to the beneficiaries.
Policies365 is an online plan which further gives you 4 plan options to chose from. Unlike other term insurance plans, it doesn’t give you the money back if the policyholder survives the term, however, if things get worse iterm plus keeps you covered. The 4 plans are:
- Life Plan
Life Plan in iterm plus gives you death benefit and additional accidental death benefit.
- Life Plus Plan
Life Plus Plan not only gives you death benefit but covers you for accidental disability too. Also, the premium gets waivered off in case any accident has hindered the regular income of the family.
- Life and Health Plan
Health Plan covers you for the death benefit, terminal illness and 10 critical illness diseases that are listed in the plan.
- Life and Heath Plus Plan
Not only will the Life and Health plus plan give you benefits of regular life and health plan but also, gives you cover for an additional 36 critical illness listed in the policy.
Benefits of Aegon iterm plus insurance
- Tax benefits
Tax benefits on premiums paid and benefits, as per prevailing tax laws. Section 80 (c) and 80 (D).
- Premium Rates
Aegon Life iterm insurance gives lower premium rates for females and non-smokers
The iterm policy gives you the flexibility to increase the term of insurance with increasing age.
- Lumpsum Payment
Aegon iterm policy gives you Lumpsum payment in case of sudden demise, critical illness and terminal illness.
- Waiver of Premiums
The premiums which are due will be instantly waivered off in case the policyholder meets with an accident and the regular income of the family is hindered.
- Coverage for illness
Under this benefit, you get an option to get coverage for 10 Terminal illnesses and 36 Critical illnesses in the policy.
Exclusions from the policy
In case the insured commits suicide within 12 months of the policy purchase, 80% of the premium is paid to the beneficiary. However, in case the policyholder commits suicide within 12 months of the policy renewal, either the 80% of the premium is paid to the beneficiary or the surrendered value is paid depending on whichever is higher.
Choose Aegon Life insurance to ensure a secured future for your family, so that they can sustain the comforts of life you’ve curated for them.