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Aegon iTerm Plan

Entry Age (years)  
Minimum 18
Maximum 65
Maximum Maturity Age (years) 75
Policy Term (years)  
Minimum 5
Maximum 57
Sum Assured (Rs)  
Minimum 1000000
Maximum No limit
Minimum Premium (Rs)  
Yearly 1675
Single 7075
Premium Payment Frequency Single, Yearly, Half-yearly, Quarterly, Monthly (via ECS only)
Premium Payment Term Single or equal to policy tenure
Premium Factor (multiply with annual premium) Half Yearly: 0.512 times annual premium; Quarterly: 0.259 time annual premium; Monthly (through ECS only): 0.087 time annual premium
Policy Cover Cover remains fixed for the tenure of the policy
Other Features  
Free Look Cancellation In case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period You are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover, including the rider cover, if any, will be terminated.
Lapsed Policy Reinstatement If premium are not paid before the expiry of the 30 day grace period from the premium due date, the policy will lapse. If the Policyholder fails to reinstate a policy within this two year period from the premium due date, the policy will terminate. On reinstatement, all outstanding premiums, without interest will be payable..
Tax Benefits Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply. Premiums paid for AEGON Religare Critical Illness Rider may qualify for deduction under Section 80D of the Income Tax Act, 1961.
Exclusions In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable. Further, if the Life Assured under the policy, whether medically sane or insane, commits suicide, within one year of exercising the option to increase the Sum Assured, then the amount of increased Sum Assured will not be considered in the calculation of the Death Benefit
Surrender Value In case of single premium policy; you may surrender the policy after completion of three policy years. On surrender, the company will pay the Surrender Value as per the following formula: Surrender Value for single premium policy = 0.7 * single premium (excluding any extra premium loading and service tax) * outstanding Policy Term (rounded off to a lower integer) or Policy Term.
Customer Service  
Address AEGON Religare Life Insurance Company Limited, Nomura B-wing, First Floor, Unit 102
Near D-mart, Hiranandani Business Park, Hiranandani Gardens, Powai,
Mumbai 400 076
Mail To [email protected]
Call On 1800 209 9090 between 8:30 am to 8:30 pm
Additions to the Plan  
Available Rider(s) Aegon Religare AD Rider
Death due to an accident
Aegon Religare Waiver of premium (WoP) on Critical illness Rider
This Rider covers 4 critical illness conditions as specified in this document. On being diagnosed with any of these 4 critical illnesses, future premiums payable under the base plan and riders (if any) are waived while the life cover and rider cover (if any) continues. The illnesses covered under this rider include Cancer, Coronary Artery Bypass Surgery, Stroke and Heart Attack.
AEGON Religare Women Critical Illness Rider
This rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness, a certain percentage of the base plan Sum Assured will be paid. The illnesses covered under this rider are classified into 2 groups. Group 1 covers malignant cancer of the female organs wherein in 5% of basic sum assured, subject to maximum of Rs 10 lakh is paid. In Group 2 Birth of child with congenial disorders or surgeries are covered with 2.5% of basic sum assured, subject to maximum of Rs 5 lakh is paid.
Rider Conditions  
Entry Age (years)  
Minimum 18
Maximum 55
Maximum Maturity Age (years) 65
Rider Term (years)  
Minimum 5
Maximum 57
Sum Assured (Rs)  
Maximum Lower of Base plan insurance or 25 lakh
Rider Premium (Rs) For ADDB Rider, presmium should be <=30% of base plan premium and for Critical Illness Rider, premium should be <=100% of base plan premium available only with annual premium option.