Aegon Life iTerm Insurance Plan

Term plans are best suited for working individuals who have dependents (children, parents) and are looking for a considerable amount of protection against uncertainties of life (death) at a fairly low price. The basic purpose of a Term plan is to provide financial security for the applicant and his/her family.

Buying a term plan online is one of the cheapest modes to buy insurance as it saves your time and money. The online term plans are available at approximately 30 to 40 percent lower premiums compared to offline term plans. Offline term plans are costlier due to distribution costs associated with the same whereas, these costs are absent in an online term plan and as such the benefit of the same is passed on to the policy holders in terms of lower premiums. All other benefits remain the same for both online and offline customers. The same service and benefits are applicable to both.

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 rule of thumb 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!

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

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.

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

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 term or Sum Assured.

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 ALI. 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.

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.

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.

Yes. Soft Copy of the test results will be made available to you .

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 customer.care@aegonlife.com

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

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.

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

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

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.

Yes, if you are an existing iTerm policyholder or if you take a new iTerm from Aegon Life you can get the cover for your wife even if she is not working. The maximum coverage will be upto 50% of Husband coverage or Rs.1 Cr whichever is lower and is subject to financial eligibility of Husband & underwriting rules of the company. For more details please get in touch with our customer service executive on our Toll Free Number 1800-120-1234