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A Guide to Finding Right Long-Term Insurance Plan

Jul 16, 2018 | 2 years ago | Read Time: 3 minutes | By iKnowledge Team

Long Term Insurance Plan

Investment planning is as important as earning. Investing in life insurance, term insurance, and health insurance has become a basic necessity for each and every family. If you are an income generating individual, you should be investing in plans that ensure your good health, better future, and conducive financial conditions. The uncertainty of the future scares everyone but maintaining a safe and secure future for your family is essential.

Investing in insurance policies gives at least some assurance for the unpredictable future. Term insurance being the most basic form of life insurance offers a high amount of coverage at a nominal premium and gives you the liberty to choose what time period you want to get covered for. The term of these policies is set and you can nominate your loved-ones to receive the amount when you are not there for them. Here is a guide to choose the right long-term insurance plan:

Time Period:

The first thing to consider is the amount of time the tenure will last. The policies usually differ a lot from each other when it comes to length of term. Make sure you choose a time period that is suitable to you according to the various factors like age and financial condition. Long-term insurance plans are generally better than the traditional term insurance plans, since, the tenure lasts longer and hence the amount of savings is more.

Coverage per Day:

While choosing your long-term insurance plans, you need to pay peculiar attention to what amount is being paid on a daily basis. When comparing these aspects, you also need to analyse the possibilities of future necessities. Only according to that you can decide what amount of the premium you are willing to pay.

Comparison of Premiums:

When choosing long-term insurance, select the option which meets your needs. There are plenty of term insurance plans available in the market but very few can provide benefits as good as Aegon. Since you are investing in a long-term policy, make sure to check out different term insurance products that Aegon has to offer.

Age and Health Condition:

Consider all small yet important aspects like age and health conditions. A long-term policy is much more beneficial when you are investing in it at a young age. It ensures that the savings will be higher. Consider your age before choosing a particular plan and also, if you already have some medical conditions, consider them too. Although if a person has poor health, he might not even be eligible for a long term plan.

Considering Income:

Long term insurance plans require years and years of paying premiums, which needs to be studied carefully. You must consider what your wage is and what it is going to be and will you be able to fill the premium after say 10 years. Make sure that your income works hand in hand with your premiums. Avoid opting plan, which has high premium rates.

Professional’s Advice:

Consider meeting up with an insurance professional before getting yourself into a long term commitment of paying premiums and getting benefits long time after you have started investing. Understand all pros and cons before choosing a particular plan. Ask the expert to help you choose a plan with appropriate premium rates and duration time.

Aegon Life not only answers all your doubts about long term insurance plans but also provides various plans for long-term insurances. It has varied plans that give you the opportunity of investing and insuring at the same time.

To know about AegonLife’s life insurance products, visit our home page.

Advt. no.: IA/Jul 2018/4168


iTerm Plan

Life Insurance Plan with 3 Options to Choose from

  • Life Protect (Life cover till age 100 years)
  • Protect Plus (5% Automatic Increase of life cover)
  • Dual Protect (Protection + Regular Income)
iTerm Plus Plan

Life Insurance Plan with 4 Options to Choose from

  • Life Plan
  • Life Plus Plan
  • Life & Health Plan (10 Critical Illnesses covered)
  • Life & Health Plus Plan (36 Critical Illnesses covered)
iInvest Plan

iInvest Plan with 3 Options to Choose from

  • Increases Your Investment
  • Boost Your Fund Value
  • Withdraw Your Investment
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