AEGON Life iTerm Insurance Plan

Aegon Life iTerm Insurance Plan is an online term insurance plan which aims to fulfill the protection needs of the policyholder at minimal costs for a secured future.

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical
checkup required
Save more with
upto 10% discount**
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

*Tax benefit is subject to changes in tax laws.

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount**
Covers COVID-19
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use

Key Features OF Aegon Life Term Insurance

  • This is a purely online term plan
  • It is a term insurance plan with Single Pay and Regular Pay premium paying options
  • There is an inbuilt Terminal Illness Benefit under the plan

Benefits of Aegon iLife Term Insurance

  • On diagnosis of any Terminal Illness, future premiums are waived off and 25% of the Sum Assured is paid immediately to a maximum of 100 lakhs.
  • On death of the policyholder, the Sum Assured less any Terminal Benefit already paid is paid to the nominee
  • There is no maturity benefit in this plan
  • There are 4 additional riders available in this plan
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:




Entry Age (Last Birthday)

18 years

65 years

Maturity Age (Last Birthday)


75 years

Policy Term (PT) in years



Premium Paying Term (PPT) in years

Single Pay or equal to the policy term

Premium Paying Frequency

Single, Annual, Semi-Annually and Monthly

Sum Assured

25 lakhs

No limit

Details about Premium

Premium in Rupees for a term of 30 years

Age / Sum Assured

50 lakhs

1 crore

30 years



35 years



40 years



Policy Details

Grace period: 30 days grace period is allowed for payment of premium

Policy termination or Surrender Benefit: the policy does not acquire Surrender Value for Regular Pay plans. For Single Pay plans, Surrender Value is available only after completion of 3 policy years.

Surrender Value = 70% * Single Premium * (outstanding term / total term)

Free look period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 30 days of receipt of the policy documents, provided there has been no claim.


  • In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.
  • For the Terminal Illness Benefit, illnesses arising out of self-inflicted injuries, alcohol abuse, failure to follow medical advice, HIV and AIDS infection, war, aviation, etc. are excluded.

Additional Features or Riders

The following riders are available under the plan:

  • Aegon Life AD Rider
  • Aegon Life iCI Rider
  • Aegon Life WoP on CI Rider
  • Aegon Life Women CI Rider
  • Aegon Life Disability Rider

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ online and provide self-attested copies of KYC/AML Documents.

You May like to Read: Aegon Life Term Insurance Plans
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Sign up for newsletter
Sign up our newsletter and get email about term plans.

Term insurance articles

Recent Articles
Popular Articles
Understanding Limited Pay till 60

19 Oct 2021

Term life insurance policies offer significant coverage and low...
Payout Insurance Options by Different Insurers

19 Oct 2021

A life insurance payout will give much-required financial...
Extra Payout on Accidental Death: What to Know

19 Oct 2021

The only certain fact about life is that it is uncertain...
Can You Purchase Term Insurance Without Income Proof?

19 Oct 2021

Due to the pandemic, people are becoming aware of securing their...
Term plan vs. Investment Plan: What to Know

29 Sep 2021

Investment, insurance, and saving for emergencies are the three...
Types of Deaths Covered & Not Covered by Term Life Insurance
Types of Deaths Covered and Not Covered by Term Insurance When it comes to securing the future of your loved ones or...
Why Medical Test is Important in Term Insurance
Why Medical Test is Important in Term Insurance ‘No medical tests required’, you will find this clause blatantly...
10 Questions You Should Ask Before Buying Term Insurance
10 Questions You Should Ask Before Buying Term Insurance There are various doubts faced by customers when it comes...
Term Insurance for NRI in India
Term insurance offers financial protection to the family of the insured in case of demise. Every bread-earner...
6 Reasons Why Term Insurance is a Must Buy
6 Reasons Why Term Insurance is a Must Buy Life is short and one can never foretell what the future holds. To make...
Download the Policybazaar app
to manage all your insurance needs.