For most people, keeping their family secure ranks high on their list of priorities. Protection can be of many kinds but it is important to ensure that our loved ones are safe and financially secure in the event of any unforeseen event. Term plans are generally known for their affordability and large covers. Long term plans are a great fit for those looking for life coverage for a specific period at lower premiums. Aegon Life’s iTerm plan offers cover for up to 100 years so that you get coverage for essentially a whole life at low premiums.
When you opt for a long-term insurance policy, it usually covers you only a term of up to 70 or 80 years. So, you will not be covered after the age of 70 or 80. This could put you at a disadvantage as you may need insurance beyond that age. When you opt for term policies that cover you up to 100 years, you are covered for a longer period, and your loved ones remain financially secure in the long run.
Ease of buying it online:
You can easily buy Aegon Life’s iTerm plan online and access your policy any time with a few clicks. Buying an insurance policy online is convenient, transparent and cost-effective process. There are no middlemen involved, you have access to automated assistance and customer reviews. So, you can make an informed choice.
iTerm plans cover up to 100 years to secure your family for a longer term. You can opt for either a monthly or annual premium on them. And, premiums are low even when you opt for additional benefits.
You can increase the coverage if you want it to be adequate for your growing family’s needs. It gives you good value for money as you get high coverage for lower premiums.
A short-term insurance may not be sufficient for your insurance needs as you need coverage for your later years. Buying a term insurance for up to 100 years, such as iTerm can help you stay covered for a longer period.
Options for payout:
There are various options when it comes to payouts for iTerm. If you want your dependents to have a fixed monthly income, you can opt for that. If you think a lump sum payment is a better option, you can opt for that. You can also opt for a combination of the two, a fixed monthly income or a lump sum payment.
iTerm plan comes with inbuilt terminal illness benefit, where you get death benefits upon diagnosis of a terminal illness. Your future premiums are also waived here.
Get additional benefits:
You can opt for add-ons like accidents, critical illness, and disability on a nominal charge in iTerm. You get extra benefits when you opt for an add-on for more protection.
You can also avail tax benefits on the premiums and payouts under section 80C and 10(10 D) of the Income Tax Act.
A term plan that keeps you protected for a long time with cost-effective premiums is your best bet for a secure financial future. That’s why, Aegon Life’s iTerm plan will be a great pick for your family’s protection needs.