Aegon Life re-launches 'iTerm' plan with new features

BENGALURU: Aegon Life Insurance has re-launched its flagship product ‘iTerm’, an online protection plan, with new features. This is to mainly increase the insurance penetration and to narrow the underinsurance gap.

iTerm has now added the life-stage benefit, where you can increase the protection cover as per the important milestones in your life. Premium can now be paid on a monthly, half-yearly, and annually basis against only yearly option earlier. The maximum maturity age has been raised to 80 years, raising the maximum policy term to 62 years. The product now also offers flexibility to choose death benefit payout as a lump-sum payment, or as fixed monthly income for 100 months, or as a combination of the two.

“Our main focus for every consumer is protection. Every family is important for every individual. iTerm which comes will every technological and innovative benefits, will be an ideal choice for every household” said Martijn de Jong, Chief Digital Officer, Aegon Life Insurance.