nsurance Regulatory and Development Authority of India (IRDAI) in its conti...
Aegon Religare Life Insurance, the first company to launch an online term plan in India called “iTerm”, has released a new version of the plan with improved features.
The new iTerm Plan comes with an in-built terminal illness cover and also offers a policy term up to the age of 75. 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.
Key features of Aegon Religare iTerm Plan:
.Hassle free online process
.Pure term 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
Read our expert Review of Aegon Religare iTerm Plan
The company has slashed the premium rates, making this term plan extremely affordable. The minimum regular premium is as low as Rs 1,675 per year. Customers, who do not want to go through the hassle of paying regular premiums, can opt to pay a single premium.
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Aegon iTerm plan can be taken by individuals between 18-65 years of age. The minimum sum assured starts at Rs 10 lakhs while there is no limit on the maximum sum assured.
Additional features of this plan are option of 3 additional riders and a special critical illness rider for women. Riders are extra benefits which come at a small price and enhance the level of protection. The rider designed for women covers listed illnesses such as malignant Cancer of the female organs, birth of child with defects or surgeries and pregnancy complications. On being diagnosed with any of the covered illnesses, a certain percentage of the sum assured is paid.
Aegon Religare has successfully sold more than 19,000 online policies and the new and improved iTerm plan looks like a very attractive proposition for new customers seeking term plans.