iReturn Insurance Plan

If you are looking for pure protection along with return of Premiums, this plan is for you.

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Why Buy This Plan

If you are looking for pure protection along with return of Premiums, this plan is for you. Aegon Life's iReturn Insurance Plan not only provides you a life cover like any other term plan, it ensures all your premiums are returned in case of your survival till the end of the policy period. Plus, you can avoid the hassle of going through the tedious paper work and buy it online!

You should purchase this plan if you:

  • Are the sole or major earning member in your family
  • Have many financial liabilities
  • Have dependents

Let's understand the plan with an example

Let's understand the plan with an example: 

Ms.Shalini (age 30 years) is an executive with a multinational firm. She is married to an adventure sports professional. They have a daughter, Anuja, who is 3 years old. While they lead a good lifestyle with an owned house and car, both are availed through loans. Shalini is aware that life is uncertain and her husband's profession does not allow him to take a very high insurance cover in his name. Hence she relies on Aegon Life's iReturn Insurance Plan.

Her plan details are as follows:

Cover Amount (Base Sum Assured): Rs.75 lakhs, Policy Term: 20 years, Premium Payment Term: 20 years, Base Premium: Rs.14,850/-. Additionally, she opts for the Women CI Rider and iCI Rider to take care of any critical illnesses. She also wants to ensure that this policy's benefits are accrued come what may, hence she opts for Waiver of Premium on CI Rider. Additional premium for Riders: Rs.2939/- p.a.

Total Payout = Rs.1.04 crore (on diagnosis of ovarian cancer: Rs. 25 lakhs for iCI Rider and Rs.3.75 lakhs for Women CI Rider + Rs.75 lakhs cover amount on death

Total Payout = All premiums returned = Rs.2,97,000/- i.e. Rs. 14,850 * 20 years





You can make your plan more comprehensive by choosing any of the following suitable riders:

Aegon Life AD Rider (UIN 138B006V02): This Rider covers accidental death. In case of death due to accident, the cover amount (Sum Assured) under the rider will be paid.

Aegon Life iCI Rider (UIN: 138B011V01) – This rider covers critical illnesses. On being diagnosed with any of the covered illnesses, a certain percentage of the base plan cover amount (Sum Assured) will be paid. This rider attachment is possible only for annual premium frequency

Aegon Life WoP Rider on CI (UIN: 138B007V02) – This Rider covers 4 critical illness conditions as specified. On being diagnosed with any of these 4 critical illnesses, future premiums payable under the plan and riders (if any) are waived while the life cover and rider cover continues.

Aegon Life Women CI Rider (UIN: 138B005V02) – This rider covers critical illnesses pertaining to women. On being diagnosed with any of the covered illnesses, a certain percentage of the base plan cover amount (Sum Assured) will be paid.

How can you buy this plan?

How can you buy this plan?: 

Step 1: Calculate your iReturn term insurance premium by entering your age, gender, amount of life cover you wish to purchase and period.

Step 2: Enter the details requested for and generate a premium quote

Step 3: Pay online using either your debit/credit card or your internet banking account

Step 4: Expect a verification call from Aegon Life call centre, once you apply for the policy

Once the payment is made your policy shall be issued within 10-14 working days.

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What is a Term Plan with Return of Premium?

A Term plan with Return of Premium is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money (Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to his nominee (any family member). And at the end of the policy term, on survival, sum of all premiums (excluding rider, extra premium & taxes) paid will be returned to the policy holder.

Why should I buy Term with Return of Premium Plan?

A Term Plan with Return of Premium is best suited for working individuals who have dependents (Children, parents) and are looking for a considerable sum of protection against uncertainties of life (death). A Term Plan with Return of Premium is meant to fulfill the basic purpose of any Life Insurance policy by providing financial security for the applicant and his family. Besides, Premiums paid for the base Policy are returned on survival at the end of Policy Term.

What if I am already insured under a Group Insurance Scheme by my employer? Should I buy a Term Insurance Plan?

It is always prudent to buy an individual Life Insurance policy because
a). The insurance amount you are covered for may not be enough.
b). The policy cover lasts till you are associated with the employer.
c). The older you get, the higher is the premium.

Is it safe to make payments online?

Aegon Life ensures that every transaction you conduct online is in a safe and secure environment. To achieve this, our site is protected by Secured Socket Layer (SSL) technology by VeriSign, the leaders in encryption technology. The process of encryption takes your credit card information and converts it into bits of code that are securely transmitted over the Internet. This scrambled data cannot be read as the information travels over the Internet. Aegon Life doesn’t store any Credit/Debit card, Internet banking related information provided by the customer.

What is the amount of Insurance Cover that one should opt for?

It is said that a good estimate for calculating your insurance amount should be 8-10 times of the gross yearly income. Although this a good thumb rule but at the same time, it is also an oversimplified way of calculation. This calculation does not factor in the life style or debts of the insured, as different people have varying lifestyle and different amount of debt to repay. Use our simple and effective calculator to check your ideal insurance amount!

Who is a Nominee?

A nominee is a person who is eligible to receive the coverage amount from insurance policy in the event of death of the Life Assured. 

What does my nominee receive after my death?

If death takes place during the term of the insurance policy, then the nominee receives the Sum Assured under the plan. 

What do I get in case I do not die during the term of the Policy?

In case of survival till the end of the Policy Term, all Premiums paid (exclusive of service tax and rider premiums and extra premium charged if any) will be returned back to you.

Will my premium amount change during the tenure of the policy after I have bought the plan?

Once the policy is issued, Premium will remain the same for the entire tenure of the policy. This is subject to service tax regulations as declared by the Government of India.

If I reside abroad and I am working there for a couple of years after I purchase the plan will I be covered?

In case you are a frequent traveler to foreign locations, you need to just disclose the same in the form with respect to the ‘travel question'. You do not need to inform the company of your travel abroad unless you have already got an offer or work permit and are in the process of migrating while applying for the policy. 

If I take the citizenship of another country after I purchase the plan will I be covered?

Post applying for the plan if one is travelling abroad or attains an NRI status, the cover from the iReturn plan will still be applicable.

If I wish to change the nominee details on the policy how can I do the same?

Please contact our customer care toll free number- 1800-209-9090 (Mon-Sat,9am to 7pm) or you can send an e-mail on with respect to the change. 

Can I make any changes to the Policy Term or Sum Assured after the policy is issued?

Once the policy is issued changes related to the Policy Term or Sum Assured cannot be processed. You can re-apply for a fresh policy with the desired Policy term or Sum Assured.

If I forget to attach rider(s) while applying for the policy, can I attach it / them later after my policy is issued?

The rider can be added anytime during the Policy Term and the rider can be detached from the next premium due date after the request has been made. Addition of riders will be subject to underwriting requirements. Please contact our customer care toll free number- 1800-209-9090 (Mon-Sat 9am to 7pm) for more details.

What is the benefit payable under this plan in case of a Terminal Illness?

In case the Life Assured is diagnosed with a Terminal Illness, 25% of the Policy Sum Assured (subject to maximum of Rs.100 lacs) will be paid immediately and the Death Benefit will be reduced by an amount equal to the terminal illness benefit paid. Also, all future premiums payable under the plan will be waived off. 

Do I need to pay extra premium for the Terminal Illness benefit?

No. The Terminal Illness benefit is an in-built benefit available with the AEGON Life iReturn Insurance Plan, and you do not need to pay any additional premium for availing this benefit.

What happens in case I get the Terminal Illness benefit, and do not die during the Policy Term?

In case if Terminal Illness benefit is paid and the Life Assured survives till the end of Policy Term , all premiums paid (exclusive of service tax, rider premiums, and extra premium charged if any) will be returned back.

Do I have an option to choose the duration of my Policy?

Yes, depending on your need for protection, you can opt for a duration of 5,10,15, or 20 years.

For how many years do I need to pay premiums for this Policy?

You have the following options for the duration of premium payment:
I. Pay in lump-sum as a Single Premium
II. Pay for only 5 years
III. Pay for the complete Policy duration.   

Can I surrender my Policy?

We do not encourage you to surrender the Policy, at it breaks your protection. However we do realize the importance of availability of cash at a short notice in case of emergencies. Therefore, if your Policy acquires a Surrender Value then we promise to pay it to you as per the details mentioned in the product brochure.

What if I stop paying premiums?

On non-payment of premium, the Policy will acquire either a Lapse or a Paid Up status depending on the number of premiums already paid.

If my Policy is Paid Up, what is my death benefit?

If a Policy in Paid Up status, then Paid Up Sum Assured will be paid out in case of death during the Policy Term.

Paid Up Sum Assured = (Total premiums paid/ Total premiums payable) x Sum Assured

What happens to my maturity value in case of Paid Up?

In case your Policy has become Paid Up, the sum of all premiums paid (exclusive of service tax and rider premiums and extra premium if any) will be returned on survival till the end of the Policy Term.

Can I take a loan on my policy?

No. Loan facility is not available under this plan

Can I increase my insurance cover (Sum Assured) during the Policy Term?

No, increasing the Sum Assured of the Policy is not possible during the Policy Term.

What is reinstatement / revival?

The Policyholder can apply for reinstatement of the lapsed / Paid Up Policy within two years from the due date of the first unpaid premium (“Reinstatement Period”). In case of reinstatement, the policyholder will need to pay all unpaid premium + interest.

Who performs the medical exam?

A licensed paramedical examiner (such as a nurse, lab technician etc) or a medical examiner (MBBS, MD etc) will typically conduct the exam. These paramedical/ medical examiners work independently and are not direct employees of ALIC. However, they are associated with a particular diagnostic center and must always display their identity card (of their association with the lab/ diagnostic center). As a part of the identification process and for security reasons, please insist on seeing the identity card of the person visiting/ performing the medical examination in a home facility. Should the examiner refuse to show the ID card; you reserve the right to refuse the medical examination.    

How much does the medical exam cost and who pays for it?

ALI pays for the medical exam to the medical service provider. There is no cost to you.

What is included in the medical exam and how long will it take?

A routine medical exam includes the following:-
Basic physical exam (height, weight, blood pressure, pulse) is conducted
Urine specimen may be collected on some occasions
Blood samples may also be taken
Some cases may also require ECGs and/or Treadmill ECGs (stress tests)
The exam is usually completed within 30 minutes. 

What kind of medical history will be asked?

The examiner will ask questions regarding medical conditions, surgeries, medications, or other treatments you may have had. The examiner will also ask the names and addresses of physicians and/or hospitals that have treated you (if applicable). You may wish to have this information handy to save time during the exam.                                     

What happens with my medical exam information?

All information obtained during the medical exam is strictly confidential and is sent directly to the Company for the purpose of risk assessment. Assessment is done by trained professionals at AEGON Life office.

Where and when will the life insurance medical exam take place?

One of the life insurance company's authorized representatives will call you to schedule an appointment. The medical will be conducted by an approved paramedical/ medical examiner. You may additionally receive a call from such examiner/ diagnostic center to confirm the appointment and also to brief you on the examination process.
To meet your needs, the medical exam may be performed at your home, office, or at the diagnostic center. The authorized representative will inform you of the examination location in advance. 

will I get a copy of the test results?

Yes. Copy of the test results will be made available to you along with the policy document. 

How to prepare for your medical exam?

To obtain the best possible results from your life insurance medical exam, we suggest that you follow these basic steps:

Have your photo identification available

Please wear a short-sleeved garment or one with sleeves that easily roll up

Try to fast for at least eight hours before your exam (12 hours is preferred). You may drink water

The best time to do your exam is in the morning.

Drink a glass of water an hour or so before the exam to facilitate obtaining a urine specimen

Avoid coffee, soda, tea or other products with caffeine for several hours before the exam

Avoid smoking or chewing tobacco for at least one hour prior to your scheduled appointment

Avoid alcoholic beverages for at least 24 hours prior to the exam

Avoid nasal decongestants

If you require a large blood pressure cuff, let the examiner know prior to the appointment

Get a good night's rest before the medical exam

Schedule the appointment for the least stressful time of the day

Do not engage in strenuous exercise for 24 hours before the exam

Prepare in advance for questions regarding medical conditions, surgeries, medications, or other treatments you may have had. The examiner will also ask you for the names and addresses of physicians and/or hospitals that have treated you.

What is the protocol that the medical examiner is expected to follow for drawing blood samples?

The medical/ paramedical examiner has to follow the following basic protocol.
Use a pair of sterile gloves per procedure or patient
Use a single-use device (a needle and syringe is a single unit/ Vacutainer for blood sampling and drawing
Discard the needle and syringe immediately into a container. Physical destruction of the needle and syringe will be done at the diagnostic center as per “bio-medical waste” guidelines
Disinfect the skin at the venepuncture site
Place laboratory sample tubes in a sturdy rack before injecting into the rubber stopper
Should you notice any deviation to this protocol, you reserve the right to refuse to undergo the medical examination. You are requested to report any such practice observed by writing to

What are the documents required to apply for a claim?

The Company would seek the following primary documents in support of a claim to enable processing of the claim intimated by the nominee under the Policy: I. Original Policy Document II. Death Certificate issued by the local authority III. Certificate of the Doctor / Medical Officer certifying the cause of death IV. Claimant’s Statement V. The Company is entitled to call for additional documents or information for processing of the claim depending on the cause of claim.                                                                                                                  

Where does a nominee apply for a claim?

Nominee can intimate directly to the company’s registered address or any branch offices in writing or log onto to make online claim intimation. 

How soon does a claim get settled?

Our objective is to settle claims as early as possible and you would be glad to know that after receiving the necessary documents we take not more than 6 working days to settle a claim.

How do I ensure a hassle-free claim experience my dependents?

Following are the points that need to be kept in mind to ensure a hassle-free claim experience: I. Double-check details with regard to your nominee. II. Ensure that your nominee knows the details of your policy such as sum assured, policy term. III. Also keep your policy bond in a safe place and ensure that your nominee knows where the original policy bond is stored. IV. Pay your premiums regularly so that Policy is in force

What is my Policy Number?

The quote number for which you have made the payment is your Policy number.                                    

Can I submit my past medical reports?

You can submit the past medical reports however post reviewing the same we will confirm whether we can consider the same or not.

If I wish to include critical information about my lifestyle/family history/past medical history which I had missed updating while purchasing the plan. How do I add them on the proposal form?

We request you to be careful while filling the proposal form as this information is very critical for Risk assessment & decision on the policy. However if you miss out any information, please write to with the details. 

How do I opt for ECS facility for Renewal premium payments?

You can courier an original copy of the cancelled cheque along with the original ECS MANDATE FORM, which is available on the website to Aegon Life Insurance, Building no.3, Third floor, Unit no.1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai 400 063                                   

Once I have uploaded my documents on the website, do I also need to courier the same?

You have the option of either uploading your documents on the website or sending it via courier to us.

Will I get any intimation for my renewal payments?

28 days prior to the Premium due date we will post the renewal letter to you. 7 days prior to the Premium due date, an email notification will also be sent to the registered Email id. Along with this you will also receive a SMS & call from Aegon Life.

I have received my policy document. For further assistance please let me know whom do I contact?

You can contact us on our toll free no 1800-209-9090 or you can write to us at                                                                   


Product Name: Aegon Life iReturn Insurance Plan UIN 138N050V01

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