TERM INSURANCE

TERM INSURANCE PLAN

If you want your family to maintain the same lifestyle in your absence, this plan is for you

WHY THIS PLAN?

If you want your family to sustain the same lifestyle, in case you are not around, this plan is for you. Aegon Life’s Term Insurance Plan protects your family with a life cover and also provides monthly payouts which can act as income benefit.

You should purchase this plan if you:

  • Want to secure your family’s future
  • Want monthly Income for your family in case of death

LET'S UNDERSTAND THE PLAN WITH AN EXAMPLE

Mr.Mahesh (age 30 years) is at a senior managerial position with a MNC. His work needs him to travel a lot. He is married and his wife does not work and takes care of their kids - Amog, 4 years and Minal who is just born. Mahesh owns a plush house and a car. However, both of these are availed through a loan. Mahesh knows that life is uncertain. To ensure that in his absence his family continues to live the same lifestyle as they do now, he opts for Aegon Life’s Term Insurance Plan.

His plan details are as follows:

Death Benefit Option 2 (Non Smoker),

Cover Amount (Base Sum Assured) = Rs.50 lakhs, 

Inbuilt Accidental Death Benefit = Rs.50 lakhs,

Policy Term = 30 years, Premium Payment Term = 30 years,

Annual Premium = Rs.12, 900 (exclusive of service tax).

Mr.Mahesh dies in an accident after 3 years

Total Payout = 330% of cover amount (Base Sum Assured)= Rs.1.65 crores(Rs.25 lakhs i.e. 50% of cover amount + Rs. 50 lakhs i.e. 100% of accidental death benefit)+ Rs.1.5 lakhs (3% of Sum Assured) every month for the next 5 years.

The lump sum payout of Rs.75 lakhs received by Mahesh’s family will help them repay loans. Additionally, the monthly payout of Rs.1.5 lakhs over the next 5 years will help them maintain their current lifestyle.

HOW CAN YOU BUY THIS PLAN?

Step 1 Choose amount of protection (Sum Assured); the death benefit option and the period for your policy

Step 2 Our Life Advisor will help you fill in the application form

Step 3 A cheque will have to be drawn in favour of Aegon Life Insurance Co. Ltd.

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

Disclaimer

Product Name: Aegon Life Term Insurance Plan - UIN 138N039V02

This is a traditional non-participating Term Plan.

For more details on terms and conditions, please read the sales brochure carefully before concluding a sale.

Insurance is the subject matter of the solicitation.