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AEGON Religare
iTerm Insurance Plan
A low-cost insurance plan
Time is always running out. There are many things to do, but very little
time. You do whatever it takes to make sure that your family lives a
comfortable life. However, no one has control over uncertainties of
life. Will they be able to sustain the same lifestyle even in your
absence? In order to ease some worries and give your family the best,
AEGON Religare Life Insurance offers AEGON Religare iTerm
Insurance Plan, which ensures protection for your loved ones - at a
fraction of the cost. And now, you can avoid the hassle of going
through the tedious paper work and easily get yourself insured using
the internet. It is not only simple but also available at your finger tips.
Eligibility
Premium Payment
Frequency
Minimum Premium
Step 1
Step 2
Step 3
Step 4
Step 5
Sum Assured
(in Multiple of Rs.1,000)
Minimum - `10,00,000;
Maximum - No limit
(subject to underwriting requirements)
Benefits
Death: In case of your unfortunate demise of the Life Assured, the
benefit payable to the nominee is Sum Assured and it does not change
during the term of the contract.
Entry age
Policy Term
Other Features
Riders: You can make your plan more comprehensive by opting for
the below mentioned riders:
n
certainty that the life expectancy of the insured is less than six months
at the time of notification. The insured must not be receiving any form
of treatment other than palliative medication for symptomatic relief
and must not have engaged in any gain full employment for the last 30
days. The insurance company must be notified of the diagnosis within
30 days of the same being made.
Group
Conditions covered
Benefit amount
Group 1
Group 2
Pregnancy Complications
You can claim only once under each benefit group throughout the
Policy Term. Once the claim is made under any group, the subsequent
premium will be reduced by an amount equal to the premium for the
claimed group. Riders are not available with single premium payment
mode. Please refer to the sales brochure of these riders to
understand the terms & conditions and before concluding the sale.
Grace period: You are allowed to pay premiums within 30 days from
the premium due date. If a due premium is not received within the
grace period of 30 days, your policy will lapse and the insurance cover
will be ceased.
Free Look Cancellation: If you are not satisfied with the terms and
conditions of the policy, you have the option to cancel the policy
within 30 days of receiving the policy documents stating the reason
for such cancellation. Upon Such cancellation of the policy during the
free look period, we will return the premium paid subject to the
deduction of: Proportionate risk premium, Stamp duty paid and
Expenses borne by the Company on medical examination, if any
The policy will terminate on payment of this amount and all rights,
benefits and interests under this policy will stand extinguished.
Definition of Terminal Illness: Terminal Illness is defined as an
advanced or rapidly progressing incurable & uncorrectable medical
condition, which in the opinion of the treating physician is highly likely
to lead to death within the next six months. An independent practicing
medical consultant acceptable to the insurance company specializing
in the relevant field of medicine also needs to certify with reasonable
Surrender
Regular Premium: The policy does not acquire any Surrender Value
throughout the Policy Term and therefore there is no amount payable
to the Policyholder upon surrender.
Single Premium: You may surrender the policy after completion of
three policy years. On surrender, the company will pay the Surrender
Value as per the following formula:
Surrender Value for single premium policy = 0.7 * single premium
(excluding any extra premium loading and service tax) * outstanding
Policy Term (rounded off to a lower integer) / Policy Term.
Service Tax
Service tax or any other tax shall be levied as per the prevailing tax laws
on premiums or benefits payable.
Exclusions
Suicide Claim Provision: If death occurs due to suicide within one
year from the date of inception of the policy or within one year from
the date of reinstatement of the policy, the nominee or beneficiary
shall be entitled to 80% of the premiums paid, provided the policy is in
force.
For Terminal Illness Benefit: No claim will be payable if the condition
arises directly or indirectly as a result of any of the following:
n
For the purpose of this plan, the definition of AIDS will be the one
that is used by the World Health Organization at the date of onset
or that used by any other appropriate Government or international
organization. Infection by HIV will be deemed to have occurred
where blood tests indicate the presence of the virus or any
antibodies to it.
When the member is engaged in aviation or aeronautics other than
as a passenger on a licensed commercial aircraft operating on a
scheduled route, and
Due to injuries from war (whether war is declared or not), invasion,
hunting, mountaineering, motor racing of any kind, other
dangerous hobbies or activities, or having been on duty in military,
Para-military, security or police organization.
Disclaimer
1. The brochure is not a contract of insurance. The precise terms and
conditions of this plan are specified in the policy contract.
2. This product is underwritten by AEGON Religare Life Insurance
Company Ltd.
3. Sub-standard lives may be charged extra premiums as per the
insurers underwriting policy.
4. Insurance is the subject matter of the solicitation.
5. Insurance cover is available under this product.
Prohibition of Rebates
Section 41 of the Insurance Act, 1938 states: 1) No person shall allow
or offer to allow, either directly or indirectly, as an inducement to any
person to take out or renew or continue an insurance in respect of
any kind of risk relating to lives or property in India, any rebate of the
whole or part of the commission payable or any rebate of the
premium shown on the policy, nor shall any person taking out or
renewing or continuing a policy accept any rebate, except such rebate
as may be allowed in accordance with the published prospectuses or
tables of the insurer.
2) Any person making default in complying with the provision of this
section shall be punishable with fine, which may extend to Five
Hundred Rupees.
Non-Disclosure
Section 45 of Insurance Act, 1938 states: In accordance with Section
45 of Insurance Act, 1938, no policy of life insurance shall, after the
expiry of two years from the date on which it was effected, be called in
question by an insurer on the ground that a statement made in the
proposal of insurance or any report of a medical officer, or a referee,
or a friend of the insured, or in any other document leading to the
issue of the policy, was inaccurate or false, unless the insurer shows
that such statements was on material factor or suppressed facts
which it was material to disclose and that it was fraudulently made by
the policy holder and that the policy holder knew at the time of
making that the statement was false or that it suppressed facts which
it was material to disclose.
more. With a turnover exceeding a billion dollars, the group has the
support of over 25,000 advertisers, 11,000 employees and an
audience spanning across all continents. http://www.timesgroup.com
Beware of spurious phone calls and fictitious/fraudulent offers. IRDA
clarifies to public that: IRDA or its officials do not involve in activities
like sale of any kind of insurance or financial products nor invest
premiums. IRDA does not announce any bonus. Public receiving such
phone calls are requested to lodge a police complaint along with
details of phone call, number.
A Non-linked Term Insurance Plan.
Product Name: AEGON Religare iTerm Insurance Plan
UIN 138N016V03