Aegon iTerm Plus Insurance plans

Aegon Life iGuarantee Insurance Plan

If the insured is looking for an investment plan that guarantees returns on regular premium payment, this is the ideal plan for them. Aegon Life iGuarantee Insurance Plan ensures one receives what was promised and at the right time. Allw that the insured needs to do is decide on the amount of premium they wish to pay every year and then receive the guaranteed maturity benefit.
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Aegon Life insurance review

Aegon iTerm Plus Insurance plans
Distribution - Number of branches pan India (March 2019)
82
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
25 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
5/62
Solvency Ratio (FY 2018-19) *
2.59
Number of Policies Sold (Ind+Group) *
37,487
Number of Lives Covered (Ind+Group) **
285,524
Claims Settlement Ratio (Ind+Group) ***
96.90%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Aegon Life iGuarantee Insurance overview

  • Features
  • Eligibility
  • Benefits

What are the advantages of Aegon Life iGuarantee Insurance

  • Guaranteed Maturity Benefit: Guaranteed annual payouts for 6 years starting from the end of Policy Term.
  • Guaranteed Death Benefit: In case of death during the Policy Term, the Sum Assured will be paid.
  • Tax benefits as per prevailing tax laws.

Eligibility of Aegon Life iGuarantee Insurance

Eligibility Criteria
Entry Age Minimum - 12 years completed
Maximum - 50 years completed
Maturity Age Maximum 56years completed
Policy Term 6 years
Premium Payment Term (PPT) 6 years
Minimum Annualised Premium Minimum Annualised Premium
  • Age <40 years: ₹48,000 p.a
  • Age >=40 years: ₹60,000 p.a.
Maximum Annualised Premium ₹2,50,000 p.a.
Premium Payment Frequency Annual and Monthly*
Sum Assured 10 x Annualised Premium

Benefit Description of Aegon Life iGuarantee Insurance

Coverages under this Plan
Guaranteed Death Benefit In case of unfortunate demise of the Life Assured during the Policy Term, the nominee will be paid the Sum Assured under the plan and the policy will terminate. The Death Benefit payable will be subject to a minimum of 105% of the total premiums paid as on the date of death.

In case of death while the policy is in Paid-up status, the Death Benefit will be the Paid-up Sum Assured which will be paid after acceptance of death claim. Paid-up Sum Assured is defined as (Total premiums paid / Total premiums payable) x Sum Assured.

In case of death of the Life Assured, during the Payout period the Guaranteed Payouts will continue to be paid to the nominee till the end of 11th Year.
Guaranteed Maturity Benefit The insured will get 135% of the annualised premium paid every year (excluding tax) at the end of each year, starting at the end of 6th year till the end of 11th year from the date of the commencement of the policy.

This benefit is the Maturity Benefit which will be paid over a period of time. This benefit will only be payable if all the premiums are paid till the end of the Policy Term.
Surrender Benefit The policy will acquire Guaranteed Surrender Value on payment of first 2 years’ annualised premium or first 24 monthly premiums and which can be paid anytime after the policy acquires the Surrender Value.

The Surrender Value is calculated as: Surrender Value = A Guaranteed Surrender Value factor x Paid-up value
Free Look Period 30 days
Grace Period 30 days

Brochure

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Policy wordings

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CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2022