Get a life cover for 100 years with Aegon Life’s iTerm Plan
India had a life expectancy of 68.33 years three years back in 2015, according to a World Bank data. With medical and technological advancements, this number has increased to 70 years in 2017. That’s why, most life insurers provide a life cover for people aged up to 80 years. However, at Aegon Life, we provide a term plan cover for up to 100 years with iTerm Plan.
What is Aegon Life’s iTerm?
Aegon Life’s iTerm is an online plan that insures you for 100 years. This plan can now secure your loved ones’ lifestyle after you. Also, with additional premium, you can insure yourself against critical illnesses, disability and even accidental death under this plan up to 80 years.
Why do you need a 100-year-insurance plan?
A term insurance ensures that your loved ones’ get financial security in case of an unfortunate event. This means if something were to happen to you, your financial liabilities will not become a burden to your family. And, with life expectancy increasing, you might need an insurance beyond 75 years. Additionally, you might have kids and grandkids whose future you might want to secure financially after you pass away. Aegon Life understands this need and has therefore increased its age limit to 100 years of age.
Benefits of iTerm Plan
- Buy iTerm from the comfort of your home: it is an online only plan
- Increase your life cover according to the changing needs of your family
- Get 25% of the death benefit on diagnosis of any terminal illness, with all future premiums waived
- Multiple payout options:
- Lumpsum payout
- Monthly payouts over a defined period of time
- A combination of either of the above
- Add-on covers like accidental death benefit, disability benefit and critical illness benefit for a nominal increase to the premium
- iTerm is also tax-efficient – you can claim tax deductions on the premiums paid under Section 80C, and 10(10 D) of the Income Tax Act
To sum up
Term insurance is a must in your protection portfolio if you plan to secure your loved ones’ financially after you. However, most life insurance plans cease to provide you cover once you’re above 75 years old. So, invest in the 100-year iTerm plan offered by Aegon Life, and get insured for life.