Aegon Religare iTerm

Type of policy: Term Insurance

A term insurance is a pure life insurance policy that gives your family a cover in case of an eventuality to the bread winner. This is a fantastic product from customer point of view, and is indeed one that every single family needs to have, for its earning member(s).

Being an online policy it eliminates the broker, who would have otherwise eaten away a huge chunk of your premium as brokerage without adding any value to you. Premiums are as low as about Rs.4,050 of annual premium for Rs 50 lakh of cover if you are 30 years of age and in good health.

iTerm comes with an add-in terminal illness cover for no extra cost. 25% of the sum assured will be paid on diagnosis of terminal illness and subsequently the sum assured will be reduced by that amount.

Aegon Religare iTerm is a great plan to have for anyone. We typically recommend an insurance cover of 4-8 times your annual income, for as long a term as is available for your age. Find out the ideal cover for you using this calculator.


Product features:

Parameter

Value

Fintotal Comment

Minimum age at entry

18 years

 

Maximum age at entry

65 years

Maximum policy term

40 years or till age of 75, whichever is earlier

Highest term by any insurer

Minimum sum assured

Rs 10 lacs

Though this is the minimum, you are advised to take 4-8 times your annual income as life cover

Maximum sum assured

No limit; subject to underwriting


 

Illustration:

Your age

Term

Indicative Annual Premium

(For cover of Rs.50 lakh )

25 years

25 years

Rs. 3,600

30 years

25 years

Rs. 4,050

40 years

25 years

Rs. 7,300

50 years

15 years

Rs. 15,050

Fintotal Product Analysis is the ideal place to seek unbaised and neutral view on all financial products.

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