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Aegon Religare i Term Plan

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AEGON Religare iTerm Plan

AEGON Religare iTerm plan which was the first online term insurance plan is now available with some new and improved features. The new version of AEGON Religare iTerm provides an in-built terminal illness cover and also offers a policy term up to the age of 75. The plan comes with three rider options, one of them being a special critical illness rider for women. One can also choose to take the single premium option in the new Aegon iTerm

Key Features of AEGON Religare iTerm Plan

§ Pure Term insurance plan with an inbuilt terminal illness cover

§ Option of 3 riders – accidental death benefit, waiver of premium and women critical illness

§ Longer policy term – up to the age of 75 years

§ Completely online process

Benefits you get from AEGON Religare iTerm plan

Death Benefit – In the event of death of the policy holder, the nominee gets the sum assured

Diagnosis of terminal illness – If the policyholder is diagnosed with any of the terminal illnesses, an amount equal to 25% of the sum assured will be paid. This amount will be reduced from the death benefit amount in the policy and no further premiums will be charged once the terminal illness claim is accepted.

Terminal Illness is defined as an advanced or rapidly progressing incurable & uncorrectable medical condition, which in the opinion of the treating physician is highly likely to lead to death within the next six months. The insurance company must be notified of the diagnosis within 30 days of the same being made.

Maturity Benefit – Since this is a pure term plan, there is no maturity benefit under this plan.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Eligibility conditions and other restrictions in AEGON Religare iTerm plan

	Minimum	Maximum
Sum Assured (in Rs.)	Rs.10,00,000	No Limit
Policy Term (in years)	5	57
Premium Payment Term (in years)	Equal to policy term	Equal to policy term
Entry Age of Policyholder	18	65
Age at Maturity	-	75
Regular premium	Rs.1,675	-
Single premium	Rs.7,075	-
Payment modes	Yearly and Single

Sample illustration of premium amount in AEGON Religare iTerm plan

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 30 years

Additional Features and Benefits of AEGON Religare iTerm plan

Riders – There is a choice of 3 riders available with this plan

1. AEGON Religare AD Rider Accidental Death Benefit Rider – In case of an accidental death, this rider gives the nominee an additional payout (up to the rider amount selected) along with the sum assured

2. AEGON Religare WoP on CI Rider Waiver of Premium on Critical Illness Rider – If the policyholder is diagnosed with any of the 4 critical illnesses of Cancer, Coronary Artery Bypass Surgery, Heart attack and Stroke then all future premiums will be waived off. The life cover and rider cover continues

3. AEGON Religare Women CI Rider Women Critical Illness Rider – This rider is covers critical illness and other risks that are specifically faced by women. On being diagnosed with any of the covered illness, a certain percentage of the base plan Sum Assured will be paid. The illnesses covered under this rider are classified into 2 groups viz. Group 1 & Group 2

Groups	Conditions Covered	Platinum
Group 1	Malignant Cancer of the Female Organs	5% of the sum assured
Group 2 (applicable up to age 35 only)	Pregnancy Complications & Congenital Anomalies in Newborn Child	2.5% of the sum assured

What happens if?

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 2 years of lapsing by paying up all due premiums with interest.

You want to surrender the policy – For regular premium mode, the policy does not acquire any Surrender Value throughout the Policy Term and therefore there is no amount payable to the Policyholder upon surrender.

In case of Single Premium the policyholder may surrender the policy after completion of three policy years. On surrender, the company will pay the Surrender Value as per the following formula:

Surrender Value for single premium policy = 0.7 * single premium (excluding any extra premium loading and service tax) * outstanding Policy Term (rounded off to a lower integer) / Policy Term.

You want a loan against your policy – Loan facility is not available under this policy

Alternate term plans from different insurance companies

Aviva iLife Term Plan

IndiaFirst Anytime Plan

ICICI Prudential iCare

Kotak e-preferred Term

Other term insurance plans from AEGON Religare

AEGON Religare Level Term Plan

AEGON Religare Increasing Term Plan

AEGON Religare Decreasing Term Plan

Note: This is a statement of facts based on the information collected from the Aegon Religare i Term Plan brochure and insurance company's website. It should not be construed as a Critical or Favourable Aegon Religare i Term Plan Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.

26 Responses to "Aegon Religare i Term Plan"

sir
i am 40yrs old.i want to buy a termplan rs-20 lac.i confused that wich plan is best & cheap.plese tell me & help me to buy top plan.my DOB 24-09-1972

By dilip kumar on Mar 25, 2012

pls. confirm to me of Term Insurance premium ( Yearly ) for age 45 year person insured value Amt- 10 Lakh only.............for 10 or 15 year time

iterm policy- I REQURE MONTHLY PREMIUM PAYMENT THROUGH ECS.is possible............

By sanjeevkumar on Mar 17, 2012

pls. confirm to me of Term Insurance premium ( Yearly ) for age 45 year person insured value Amt- 10 Lakh only.............

By sanjeevkumar on Mar 17, 2012

MY DOB 13/02/1971. WANT TO TAKE TERM PLAN FOR RS 1.00 CRORE. FOR 30 YEARS.
NON TOBOCCO USER, NON ALCOHALIC . SEND PREMIUM AND FEATURES

By NAVRATAN TATER on Feb 23, 2012

MY DOB 13/02/1971. WANT TO TAKE TERM PLAN FOR RS 1.00 CRORE. FOR 30 YEARS.
NON TOBOCCO USER, NON ALCOHALIC . SEND PREMIUM AND FEATURES

By NAVRATAN TATER on Feb 23, 2012

Dear sir,
pls send me the prem for 50 lacks n 1 cror insurance prem in i term plan.my dob is 6 feb 1981

By VIKRAM on Feb 18, 2012

Dear Sir,

I am Prasad My Date of Birth was 01-07-1963.I Would Like to buy Iterm Plan for Policy Term - 20 Years.How much premium I have to Pay per Year and What is the Sum Assured?

By S.Syam Prasad Reddy on Feb 08, 2012

I want to know the various single pure term insurance offered by the life insurance companies(online/offline)

By Pinaki Bhattacharya on Jan 14, 2012

I CONFUSED WHILE COMPARING THE PREMIUM PAID FOR ASSURED AMOUNT WITH OTHER LATERAL COMPANIES WHICH SHOWS UN-BELEIVABLE DEVIATION IN THE PREMIUM, MEANS AVIVA HAS VERY LOW RATE OF PREMIUM PAIYING. CAN YOU GIVE THE EXACT REASON FOR THIS DEVIATION. WHAT IS THE RATIO OF CLAIM SETTLEMENT. HOW MUCH TIME TAKEN TO PAY/CLEAR THE CLAIMS.

THE HUGE DEVIATION IN PREMIUM RISES SUSPENCE OF YOUR HIDING TERMS AND CONDITIONS.
I AM INTERESTED IN ON LINE TERM PLAN BUT I WANT CLARIFICATION ABOUT IF SUPPOSE SOME THING HAPPENED TO POLICY HOLDER THEN WHAT IS THE PROCEDURE OF GETTING CLAIM WHEN THERE IS NO AGENT & WHAT IS THE CLAIM SETTLEMENT RATIO & HOW CO IS HELP FOR CLAIM & HOW MUCH TIME TAKEN FOR PASSING CLAIM.PL REPLY IN DETAILED. WILL THE POLICY COVER CRITICAL ILLNESS,PERMANENTLY DISABILITY, accidental death DEATH BENEFIT TERRORIST ATTACK.

By GK Gupta on Jan 14, 2012

Kindly provide me the details of risk covering including decease,accident,physical disability,terrorist attack,or criminal offence.how can the sufferer claimed ,because there is no channel of agent or agency,if we buy online

By durgaprasad on Jan 07, 2012

Has not the life expectancy of Humans increased with advancement in medical science? That being so, We also have the medicalim policies that are available at very competitive rates, which can be availed in case of any serious risk (other than accidental) on our life till the age of 70. After 70 age is the period when we could think of risk cover to our life which is not provided by any insurer as Term plan (Are they not calculative enough to make themselves profitable?). This being the case, If you feel you need not want risk cover after 70, then why don't you go for only accidental insurance available more cheap than the Term insurance plans. A judicious mix of Whole life plan Term plan and Mediclaim plan alone can give you the best use of your money. Let me know if i am wrong anywhere.

By SELVARAJ on Dec 28, 2011

By DBS Chauhan on Dec 19, 2011

I am 36 years old railway employee. I have 10 lakhs insurance coverage in diffrent policy including one termpolicy worth 5 lakhs. Now I extend my insurance coverage another 10 lakhs term insurance cover. please sent the details for 10 lakhs only. I am at GUNTUR, Andhra Pradesh.

By sunny on Nov 17, 2011

Aviva Life Insurance is one of the worst insurance service provider. They manages the funds very poorly and customer service is pathetic..! pls better to avoid Aviva insurance products, it is my personal experience.

By Thangavel on Nov 10, 2011

AVIVA ILIFE PLAN FOR 25 YEARS FOR 25LAKH AT AGE 45 IS ONLY RS 10282/= CAN YOU IMAGINE SO LOW COST FOR INSURANE .
MY DEAR FRIEND IN ENDOWMENT POLICY YOU ARE PAYING FOR LIFE INSURANCE BUT YOU ARE NOT CALCULATING THAT AMOUNT .
Calculate your insurance upto 70 age cover by bifeacation into term plan and a post office RD with 7% interest .you will be in great loss. Insurance co. are making fool in name of saving/children etc. plans .
take adequate amount for insurance in term plan and rest amount invest in PPF/RD/Mutual fund/FD, whatever you think fit for future requirement .think and calculate now !............!

By dkshukla on Oct 13, 2011

MOST IMPORTANT TO NOTE ... THERE IS NO RETURN ON PREMIUM. IT IS PURE PURE PURE LIFE INSURANCE. EVEN IF YOU PAY FOR 20 YEARS ,AT THE END OF 25YEARS IF YOU SURIVE NOT A PENNY WILL BE GIVEN BACK TO THE ASSURED / INSURED PERSON

By GOPAL on Sep 28, 2011

i term policy- I REQURE MONTHLY PREMIUM PAYMENT THROUGH ECS.

By NILESH GOPALKRISHNA PRABHU on Sep 28, 2011

Superb rates on term plan offered by Aviva iterm...Im amazed to find such low premiums

By Umesh on Sep 07, 2011

Really affordable plan - very low premiums. iTerm plan is good.

By vinoth on Aug 03, 2011

Your story was really informative, tahnks!

By Emberlynn on Jul 26, 2011

i was interested in term plan , kindly contact me at 09646007701.

By ashwani kumar on Jun 30, 2011

Please tell me what is minimum guarranted NAV in case if I choose return guarranted fund

rahul

By rahul on May 18, 2011

i would like know about the maternity ploicy ,terms & condition and effect of policy etc

By sanjay on May 12, 2011

Get me full detail about Tata Gold Mahalife policy my age is 49 yrs Male for 15 yrs Term

By pramod shanker on Mar 09, 2011

Really affordable plan - very low premiums. iTerm plan is good.

By Gaurav Bhattacharya on Mar 03, 2011

This is one of the best things to have happened in the insurance industry in the last few years. Unbelievably low premiums for term insurance plans. And better - they are online term insurance plans and hence the agent goes for a toss...

By Mamtha B on Jan 25, 2011

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