On survival up to 100 years, they receive matured endowment coverage. Policyholder gets life cover for 99 years. The beneficiary receives a pre-determined sum insured on the death of policy holder within policy period. There are broadly 8 different types of life insurance in India, each offering different benefits to meet an individual’s financial goal: SR No. The purpose of getting a life insurance is to provide monetary support to the beneficiaries in case of an unfortunate death of the policy holder during the policy period. You should separately obtain independent advice when making decisions in these areas.Life Insurance is one of the most vital investment an individual can make for their families and loved ones. It is truly a ‘protection that grows with you'.ĭisclaimer: This article is intended for general information purposes only and should not be construed as insurance or legal advice. This way you can be certain that you are not only leaving behind financial protection for your kids and grandkids but you are leaving behind a legacy for them for when you are not around. This however, is not the case with Aegon's iTerm plan, which offers coverage upto 100 years ensuring you reap the benefits that this plan provides. Most people tend to neglect or delay buying term plans because they think they might outlive the policy term, and will lose out on the benefits that it provides. Even these tests are mostly conducted at your home. Furthermore, as the purchase is from the comfort of your couch at home or desk at the office, the only time you may need to move is for the preliminary medical tests. Also buying a term insurance plan online could be easier on your pocket as compared to buying one from an agent. As Term plans are available online, they are easy to understand, compare, and buy. Moreover, a substantial term life insurance plan at an affordable price will help you achieve better benefits in terms of protection, along with better transparency in terms of costs incurred. Savers are increasingly realising it is crucial to separate protection needs from investment needs. Terms plans are relevant when you have dependents - spouse, children, and parents - who might need protection from short-term liabilities such as loans upon your death. You can contentedly live in the present, knowing that you’ve provided for your family’s comfortable future without you.
#Aegon iterm plan professional#
Let’s assume you are 30-year old, male, non-smoking working professional who has bought Aegon Life's iTerm Insurance Plan. How insurance needs change at every life stageĥ Mistakes you must avoid when buying a term plan
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It’s cost-effective with low premium rates, especially for non-smokers and women, and with a high sum assured. To be adequately prepared, you may want to considerĪegon Life’s iTerm Insurance Plan – a comprehensive financial protection solution as an online term plan for up to 100 years. Term plans turn out to be apt for dealing with the distress of this risk, as they offer guaranteed protection to your family, by paying them the sum assured, upon your death during the policy's term. As further investments in assets such as PPF, MF, equity, and gold stop abruptly, the incomplete corpus of wealth can't provide for your spouse in old-age nor for your child's higher studies.
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Premature death exacerbates the traumatised surviving family's loss with disruption in income. But then, what about a car or health insurance, where, unless there is a claim, there is no pay out? These are protection products - they provide financial support to the nominees of policyholders, leaving them less vulnerable to the vagaries of life situation.
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Term insurance are wasted as there is no pay-out unless the policyholder expires, you probably won't be alone. In fact, term plans can be the legacy you leave behind for your family, which protects and provides for their sustenance and care even in your absence. The impact of life insurance over the worldĪ term plan is the solution to this problem.