The AEGON Religare iTerm Plan ensures security and protection for the family and the dependants. It assures the financial security of the family even in the absence of the earner of the family.
The eligibility criteria for AEGON Religare iTerm Plan are as follows:
- The minimum age of entry for the policy is 18 years.
- The maximum age of entry for the policy is 60 years.
- The maximum maturity age of the policy is 65 years.
- The minimum policy term is 5 years and the maximum policy term is 25 years.
- The minimum sum assured for the policy is Rs 10, 00,000 in multiple of Rs 1000/-.
- The premium paying frequency of the policy is yearly.
The features and benefits of AEGON Religare iTerm Plan are as follows:
- Under this policy the policy holder is allowed to pay the premiums within 1 month from the due date of premium. If the premium is not received within the 1 month of the due date the policy will lapse and the insurance cover will be stopped.
- This plan does not allow any change in the sum assured during the policy term.
- If the due premiums are not paid before the grace period of the due date the policy will lapse. If the policy holder fails to reinstate the policy within 2 years from the premium due date then the policy will cease to exist. On reinstatement of the policy the outstanding premiums will be paid without any interest.
- No benefits are available on surrender or maturity of the policy.
- On the sudden death of the policy holder the sum assured will be paid to the nominee. If the death is due to suicide during the initial year or within 1 year of the reinstatement date of the policy no death benefit will be paid.