There’s no saying when your family might need the benefits of life insurance. With everyone scurrying around to buy life insurance and the vast selection pool of life insurance policies to choose from, choosing one out of the hundreds might leave you in a tizzy.
Plus, you might have already heard your relatives complaining about how the cheap looking insurance you bought was now not paying up on a legible claim. The Aegon iTerm Insurance Plan was created keeping these problems and your needs in mind.
What Do These Plans Provide-
The Aegon Life iTerm Insurance plan has many more benefits than you’ll ever find in the standard insurance plan by most other companies. Some of these include-
1. The Aegon Life iTerm Insurance Plan covers you up to an age of 80.
2. With this plan, you can choose how the amount payable should be paid out in a case of an incident- either
a full direct lump sum payment or a scheduled monthly income dividend to be paid over a period of 100
months.
3. You have the choice to boost your life coverage as per your rising life stage necessities.
4. You enjoy an inbuilt terminal illness benefit.
5. The premium rate is lower for women and non-smokers.
6. You can enjoy tax benefits.
Eligibility-
The minimum age to enter this plan is eighteen years, and the highest age is set at 65 years. The highest maturity age is fixed at 80 years which means you’ll stay covered up to that age.
The policy term has a minimum of 5 years and a maximum of 62-80 years. You are assured to receivea minimum sum of Rs 25,00,000. There is no limit on the maximum amount you can receive.
You can choose to pay your premium in a single payment, annually, semiannually or monthly.
You can improve upon your originally bought plan by further purchasing riders. There are five different types of riders available to you, each entailing a different set of benefits for the different requirements you may have.
The Aegon Religare term plan premium increases with age- the lowest being Rs 2140 and the highest at 65 years being Rs 17650.
How Does It Compare-
Most of the Aegon Religare iTerm Plan reviews have found themselves to be on the positive side.
From the information above, it is very clear that the painstakingly low premium of this plan puts it way ahead of its competitors.
The number of discounts and cuts which are available to you based on the category you fall in is what stands out about this plan. This plan is especially good for women as the premiums are lower for them. Also, again, you get premium benefits if you are a non-smoker.
On top of that, unlike other insurance plans, you get to choose how the nominee is to be paid- either in a lump sum or by monthly income. Other plans seldom have this option.
The riders are too good of an upgrade to your insurance plan. On other plans, you are stuck with what you bought whether it fully covers you or not. With the AegoniTerm plan, you can improve upon what you originally bought.
The ease of access features such as online application and the Aegon Religare term plan renewal system are excellent add-ons to a great plan.
The only drawback of this plan is its definition of accident. The plan poorly defines it.
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Reference Links-
https://www.bankbazaar.com/aegon-life-term-plan/i-term-plan.html
http://www.mouthshut.com/product-reviews/AEGON-Life-reviews-925097180
