Eligibility of Aegon iTerm Forever Insurance Plan
| Eligibility Criteria |
| Entry Age |
Minimum- 18 years last birthday |
| Maximum |
65 Years birthday if premiums are paid for whole life
55 years last birthday if premiums are paid till age 60 years last birthday
60 years last birthday if premiums are paid till age 65 years last birthday |
| Policy Term |
Whole of life |
| Premium Payment Term |
Regular Pay
Premiums are paid for whole life
Limited Pay
Option 1: Pay till age 60 years last birthday Option 2: Pay till age 65 years last birthday
|
| Sum Assured |
Minimum - ₹25 lakhs
Maximum - No limit, subject to underwriting
|
| Premium Payment Mode |
Annual, Semi-Annually and Monthly
The modal loadings for modes other than annual mode will be:
- Semi-Annual Premium = Annualised Premium * 0.512 .
- Monthly Premium = Annualised Premium * 0.087.
|
Add - on Optional Coverages (Riders)
Besides life cover, this plan offers add-on optional coverage’s on payment of additional premium through the choice of the below mentioned riders, which are
- Available only to Limited Pay Policies:
- iDisability Rider
- Waiver of Premium Rider on Critical Illness
- Available to both Regular & Limited Pay Policies:
- Aegon Life Accidental Death Rider
- iCI Rider / Women CI Rider (for Female Life Assured only) – For Critical Illness coverage
Life Stage Benefit Options
Under this option the insured will have the option to increase the Sum Assured (coverage amount) of the policy on certain specific events in the their life or as per a pre-planned systematic schedule. One needs to select one of the two available options at the time of taking out the policy.
- Event based Life Stage Option: Under this option the Sum Assured can be increased on the happening of any one or all of the following events by paying additional premium, subject to the prevailing underwriting policy:
| Event |
Additional Sum Assured as % of Original Death Benefit Sum Assured |
| Marriage (One Marriage Only) |
50% |
Birth/Adoption of 1st Child |
25% |
Birth/Adoption of 2nd Child |
25% |
- Planned Life Stage Option: The insured can aim to inflation proof their life cover by opting to increase your Sum Assured systematically using this pre-planned arrangement and by paying additional premium. Under this option, the Sum Assured (risk cover) of your policy will automatically increase at every 5 year interval by 20% of your original Sum Assured (Sum Assured at Date of Inception of Risk of the Policy), starting from the 5th policy anniversary and till you attain age 55 years last birthday.
The increase in Sum Assured under this option will be applicable without any additional underwriting requirements.
Benefit Descriptions
Death Benfit
In case of death of the Life Assured anytime on or after the policy start date, provided all due Premiums have been paid, the benefit payable to the nominee is as per the table below:
| Entry Age of Life Assured |
| Less than 45 years |
45 years and above |
| Highest of, 10 times the annualized or 105% of all the premiums as on date of death or Sum Assured as applicable on the date of death. |
Highest of, 7 times the annualized or 105% of all the premiums as on date of death or Sum Assured as applicable on the date of death. |
Upon payment of the death benefit, the policy terminates and no further benefits are payable.
