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AEGON Life - iTerm Plan

About The Plan

Aegon Life iTerm is a cost effective term plan which offers complete family protection to your loved ones. The plan offers the coverage of life till 80 years of age along with a plethora of benefits. The Plan offers the following benefits:

  • Death Benefit
  • Terminal Illness Benefit
  • Life Stage Benefit
  • Rider Benefit

Key Features

Cost effective online term plan

Provide lump-sum benefit in case of any mishap

Option of regular monthly income to your family in your absence

Flexibility to increase your life coverage amount at key milestones of your life

Provide a guaranteed amount in case of a Terminal Illness

Offer additional benefits in case of accident, critical illnesses and disability

Easy and flexible premium payment options

Tax benefits as per existing tax laws

Special premium rates for non smokers and females

Flexibility to choose the death benefit payout

Eligibility Criteria

  • Minimum sum assured is 25 lakhs & maximum sum assured is No Limit (subject to underwriting)
  • Minimum entry age is 18 years & maximum entry age is 65 years
  • Minimum policy term is 5 years & maximum policy term is 62 years
  • Premium payment mode is Single or Regular Pay (Yearly, Half Yearly and Monthly)
  • Maturity benefits are Nil
  • Grace period is 30 days/15 days (for monthly mode)
  • Premiums paid qualify for tax benefits as per Section 80C of the Income Tax Act, 1961.


Mr. Abhay (Age 30 years, Non-smoker) opts for Aegon Life iTerm Insurance Plan with Sum Assured: 1crore,Lump-sum Sum Assured opted 60 lakhs along with Income Benefit Sum Assured of 40 lakhs. The policy Term is 50 years (coverage till age 80 years) with Premium Payment Term of 50 years. The Annualized Premium is  8,676 .

Note: Premiums excluding taxes and cess