Prices Increasing soon Prices Increasing Soon

Aegon iTerm vs ICICI Prudential iProtect Term Insurance

Insurance is a medium of safeguarding personal interests from uncertainties that could lead to wealth depreciation or financial setbacks. Insurance companies offer different term insurance plans, allowing persons to select the policy type that helps them plan for a safe financial future for their loved ones. Here is detailed information about the two popular term plans – Aegon life iTerm Plan and ICICI Prudential iProtect Smart.  

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Term Insurance Plans 

Term Insurance Plans are the purest form of life insurance.  A term insurance plan provides the insured with a life cover on the following terms-

  • The insured is expected to pay a small sum of money in pre-decided installments to get a life cover. The amount that has to be paid by the insured through the course of the policy is fixed but the mode of paying the premium is flexible, i.e., the insured can choose to pay the premium monthly, quarterly, half-yearly, or annually.

  • Premium paid on term

  • Insurance is tax-deductible. Also, the sum assured is tax-adjustable.

  • In return for the interest installments paid by the insured during the tenure of the insurance, the insured life gets full insurance coverage.

  • In case of the demise of the insured during the insurance plan, a nominee, nominated by the insured, gets the death benefit. This benefit is either provided at once (in lump-sum) or at pre-decided intervals over a course of time. This is provided in order to cover any probable financial losses that could occur after the demise of the insured.

  • In case the insured survives the tenure of the term plan, he is not eligible to receive any return from the insurance company.

  • Term insurance is the most simple and affordable investment option for people looking for pure life insurance.

  • Along with providing financial stability to the family after the untimely demise of the insured, term insurance provides an easy way for repayment of standing

Aegon iTerm Plan-

Aegon Life iTerm is a basic, pure protection plan offered by Aegon Life. This plan provides a comprehensive solution to protect your loved ones from financial uncertainties in case of your absence. The various features of Aegon iTerm Plan are-

  • It is very economical.

  • It provides a cover till the age of 100 years.

  • It provides the insured with an option to increase the sum assured.

  • The premium can be paid in different modes as per the choice of the insured, i.e., the premium can be paid once every month, once in 3 months, once in six months, or once a year.

  • This term plan offers critical illness benefit to the insured.

  • Deductions and additional aids are provided to the insured in case of an accident or in time of disability due to an unfortunate reason.

  • The insured also enjoys various tax benefits. The premium paid by the insured during the insurance is tax-deductible.

Additional Features-

  • The insured is provided with additional 30 days for premium payment if the due date has been missed. This period is called a grace period.

  • In case no claim has been made during the first month of the policy, then the insured has an option of cancelling his policy.

  • Any policy can be surrendered after 3 years of its inception, at a surrender value =

 [70% x (outstanding tenure/original tenure) x single premium amount]. 

Eligibility: 

Minimum  Maximum
Entry Age  18 years  65 years 
Policy Term  5 years  62 years 
Maturity Age  80 years 80 years 
Premium Paying Frequency  Single/Annually/Semi-annually/Monthly
Premium Payment Mode  Single Payment or Equal to Policy Term 
Basic Sum Assured 25 Lakh
Basic Premium  Rs. 241for 30-year policy term and Rs/ 25 Lakh Sum Assured

ICICI Prudential iProtect Term Plan

ICICI Prudential iProtect Smart Term Plan is specifically designed to protect your family, even in case of your absence. This plan provides you the option to increase your coverage against Accelerated critical illness and Accidental death. The various features of the ICICI iProtect Term Plan are-

  • It is a very lucrative investment option.

  • The premium that has to be paid over the course of the plan is fixed and cannot be modified.

  • This plan is for investors who are looking to invest online.

  • The process of investment and claim-receiving is very simple and user-friendly.

Additional Features-

  • The insured is provided additional 30 days for premium payment if the renewal date has been missed. This period is called a grace period.

  • The investor does not have an option to surrender this investment.

  • In case no claim has been made during the first 15 days of investing in the plan, the insured has an option of canceling his policy.

  • The policy has 2 options for reaping benefits-

    • The death benefit from the sum assured.

    • In case of accidental death, an additional sum (up to 50 Lakhs) is paid to the nominee.

The various distinctive features of both the plans are listed in the table below:

Plan Name Aegon iTerm Plan ICICI Prudential iProtect Term Plan
Age of Entry Minimum- 18 Years Maximum- 65 Years Minimum- 20 years Maximum- 65 Years  
Age of Maturity Maximum- 75 Years Maximum- 75 Years
Tenure Minimum- 5 Years Maximum- 57 Years Minimum- 10 Years Maximum- 30 Years
Sum assured Minimum- 25 Lakh Maximum- No Limit Minimum- 25 Lakh Maximum- 1 Crore
Premium Payment Tenure
  • Single premium
  • 5-57 Years
Minimum- 10 Years Maximum- 30 Years
Mode of Premium Payment
  • Monthly
  • Quarterly
  • Half Yearly
  • Annually
·         Annually

Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

Wrapping It Up!

Term plans are the best investment for first-time investors and investors looking for minimal risk options. The returns paid out to the nominee plan are equal or more than the sum assured, hence tend to cover a lot of financial losses and liabilities. Every term insurance plan comes with pros and cons. However, the selection depends on your preferences to choose a right term plan, 

Different types of Plans


Premium By Age

Term insurance articles

Recent Articles
Popular Articles
PNB MetLife Saral Jeevan Bima Review

07 Sep 2023

“I have opted for Term insurance plan of PNB MetLife. This is
Read more
Policybazaar's Insurance Advisor: Your Smart Path to Protection

17 Aug 2023

Policybazaar’s Insurance Advisors are IRDAI certified experts
Read more
ICICI Pru Saral Jeevan Bima

25 Jul 2023

ICICI Pru Saral Jeevan Bima is a simple term insurance plan that
Read more
HDFC Life Smart Protect Plan

19 Jul 2023

HDFC Life Smart Protect is a term insurance plan that offers
Read more
Canara HSBC Young Term Plan

03 Jul 2023

Canara HSBC Young Term Plan is a comprehensive pure protection
Read more
Term Insurance for Women in India
Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and
Read more
What Are The Medical Tests Done For Term Insurance
Term insurance offers a sum assured to the beneficiary of the policyholder upon their death that can help them
Read more
LIC Term Insurance 1 Crore
LIC of India offers various plans to help you secure the financial future of your loved ones. In order to make
Read more
2 Crore Term Insurance Plan
The pandemic has surely generated a global panic and emphasised the importance of financial planning that would
Read more
TATA AIA Smart Sampoorna Raksha Param Rakshak Plus
TATA AIA Smart Sampoorna Raksha Param Rakshak Plus is a comprehensive life insurance policy for individuals
Read more

top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL