Aegon Life iTerm Insurance Plan


Key Features

  • Cost effective comprehensive online protection plan
  • Option of life coverage till the age of 80 years
  • Option to increase your life coverage as per your increasing life stage requirements
  • Inbuilt Terminal Illness benefit


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Why Buy This Plan

You should buy this plan if you are concerned about:

• Financial security of your family in case of your absence

• Requirement to buy new additional insurance coverage with your changing life stage needs

• Generating regular monthly income for your family in case you are not with them tomorrow

• Possibility of your financial liabilities becoming a burden to your family

• Risks of accident, terminal illness, critical illness and disability, and their resulting financial impact

Let's understand the plan with an example

Let's understand the plan with an example: 

Mr.Abhay (Age 30 years, Non- Smoker) Opts for Aegon Life iTerm Insurance Plan

His plan details are:

  • Total Sum Assured : ₹1crore
    • Lump-sum Sum Assured: ₹60 lakhs
    • Income Benefit Sum Assured: ₹40 lakhs
  • Policy Term: 50 years ( coverage till age 80 years)
  • Premium Payment Term: 50 years
  • Annualized Premium: ₹8,676*  Monthly premium: ₹755* Premiums excluding taxes and cess






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

Aegon Life AD Rider (UIN 138B006V03): 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 WOP Rider on CI (UIN 138B007V02): This Rider covers 4 critical illness conditions: Cancer, Open Chest CABG, first Heart Attack and Stroke. 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 other rider cover continues.

Aegon Life iCI Rider (UIN: 138B011V01): This rider covers 4 critical illness conditions: Cancer, Open Chest CABG, First Heart Attack and Stroke. The cover amount (Sum Assured) under this rider will be paid in case of diagnosis of any of these 4 critical illnesses.

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.

Aegon Life iDisability Rider (UIN 138B014V01): This rider pays lump-sum benefit under the rider plus waives off the future premiums payable under the base plan upon permanent disability of the Life Assured due to accident or sickness.

These riders can be attached to a base plan on policy commencement or at any time during the term of the base plan.


Note :  Following rider combinations are not allowed in a single policy

  1. AL iDisability Rider and AL WOP on Ci Rider  
  2. Al Women Ci Rider and AL iCI Rider

Please refer to the sales brochure of these riders to understand the terms & conditions before concluding a sale.


How can you buy this plan?

How can you buy this plan?: 

This is an online term plan and can be purchased by making a payment online : 

Step 1:  Calculate your premium on https: // product / iterm / iterm - insurance -
online by choosing the amount of protection and cover 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.


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What is a Term Plan?

A Term plan is a pure protection life insurance plan:

  • In case of death of the Life Assured during the policy duration, the guaranteed insurance coverage amount (Sum Assured) is paid to the nominee.
  • No benefit is payable in case the Life Assured survives the complete duration of the policy (Policy Maturity)

These plans are highly cost effective, and provide a high life insurance cover in return of a comparatively smaller premium amount.

Why should I buy a Term 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.

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

What is the difference between buying a Term Plan Online vs. Offline?

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.

Is it safe to make payments online?

Aegon ensures that every transaction you conduct online is in a safe and secure environment. To achieve this, Aegon 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 from the customer.  

What amount of Insurance Cover should I 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 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!

What should be the duration (term) of my policy?

Ideally, the term of your policy should be equal to the number of years your family will be dependent on you financially.

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 applicant.

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.

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 term 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 (8.30am to 8.30pm) 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 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 (8.30am to 8.30pm) for more details.

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 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.

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

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

Can I take the iTerm plan for my wife, if she is not working?

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


Product Name:Aegon Life iTerm Insurance Plan UIN 138N016V04

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


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