AEGON Religare Term Insurance (221 Reviews)Most
preferredlife insurance brand
A cover of
*The above premium is for a male 25 years old, non-smoker for a term of 20 years
with a Terminal Illness benefit
On diagnosis of any Terminal Illness, 25% of the base sum assured will be paid (max.of Rs.100 lacs) & the base sum assured will be reduced by an amount equal to the benefit paid under this clause
Longer coverage of upto
Get coverage for a policy term between 5 to 40 years or upto age 75 (maximum)Covers all forms of death, even terrorist attacks
Exclusion: In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable
Buy iTerm online in 8 mins
Save taxes. Tax benefits under Sec 80C applicable
Buy term insurance nowOr continue from where you leftFor sales queries please call 020-67298000
(Mon-Sat between 8.30 am to 7.30 pm)For service queries please call 022-61120633Call toll free for claims 1800-209-9090
Term Insurance Calculator
AEGON Religare AD Rider
AEGON Religare WoP on CI Rider
Waiver of Premium on Critical Illness Rider - If you were to fall prey to any of the major illnesses ( Cancer/Coronary Artery Bypass Surgery/ Heart attack/ Stroke) all future premiums will be waived off. This ensures that your term insurance policy benefits continue even in the absence of premiums.
AEGON Religare Women CI Rider
Women Critical Illness Rider - This rider is exclusively designed for women to provide superior coverage from critical illness and other risks that are specifically faced by them. On diagnosis of any of the illness / conditions stated, the benefit amount under the rider will be paid out as detailed:
Groups Conditions covered Platinum Group 1 Malignant Cancer of the Female Organs 5% of the sum assured Group 2 ( applicable only up to age 35 years)
Pregnancy Complications & Congenital Anomalies in Newborn Child
2.5% of the sum assured
Eligibility for Term Insurance
Sum Assured Minimum - Rs. 10,00,000 Maximum - No limit
(subject to underwriting requirements)
Entry Age Minimum - 18 years
Maximum - 65 years
Maturity Age 75 years Policy Term Minimum - 5 years
Maximum - 40 years or upto age 75
Premium Pay Term Equal to the policy term Premium Payment Frequency Annually/One Time
Terms & Conditions
Terminal Illness On diagnosis of any Terminal Illness, 25% of the base sum assured will be paid (max.of Rs.100 lacs) & the base sum assured will be reduced by an amount equal to the benefit paid under this clause.
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 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.
Grace period You are allowed to pay term insurance 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. Death Death benefit, if payable during the grace period, will be reduced by the outstanding term insurance policy premium. Exclusion In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable Lapse and Reinstatement If term life premiums are not paid before the expiry of the 30 day grace period from the premium due date, the policy will lapse. If you fail to reinstate a term plan within this two year period from the premium due date, the policy will terminate. On reinstatement, all outstanding premiums, without interest will be payable. Sum Assured No change in the Sum Assured is allowed during the policy term. Service Tax Service tax or any other tax shall be levied as per the prevailing tax laws on premiums or benefits payable
What our customers say about us: Best in Service! by - M. Vinod Kumar Thanks for the great follow up. Most of the companines in the market will not respond and take care of their customer concerns. AEGON Religare is the best one in the service till this moment. I want to continue the same in future. I definitely recommend AEGON Religare product/service to one who is looking for your products. Prompt Updation! by - Alok Banthia Thanks for the prompt response and regular updation. The service delivery and coordination was extremely well managed and more than expected. The best part was prompt updation on each and every process stage of the policy. This was my best ever service experience without even a single follow ups. Customer Delight! by - Sanjeev Chaudhary Thanks for all your support; I really appreciate the support and professional conduct demonstrated by you and your team. You have always responded on time as and when it was required. This experience was better than the one I had with other vendors. You guys really work on customer delight. Thanks very much and hope to see the same support in future. Very Helpful! by - Dr.Firoz It is my pleasure to give feedback about customer service team at ARLI who assisted me while buying the policy. Overall I found them very helpful, having good knowledge about their responsibilities and good in coordination during my medical test. Assistance provided is more than expected by - AmirAli The assistance provided by you during the inquiry and application stage was more than expected. The promptness and eagerness to assist and provide an appropriate resolution was commendable. It was really great to have an advisor who could empathize with the customer’s situation. Kudos to your efforts. Highly impressed with pro-activeness! by - Atul Yadav I am highly impressed by the pro-activeness and support provided by team for helping me in finalizing and processing my iTerm policy. I appreciate the excellent communication and behavioral skills of providing the clear information for the policy. Keep up the good work!! Prompt Response! by - Manoj Hegde I want to convey my thanks to you for your prompt response on my request for considering the policy issue date and convenient appointment scheduled for medicals. Also, thanks for clarifying the questions I had in mind before completing the policy form online. Appreciate your support! The agile process of completing the formalities in Aegon Religare is indeed commendable. Thank you. Very good experience! by - Anand Vitthalpura I have very good experience during the buying process of iTerm. The sales representative was very polite in the conversation and very punctual about time. I also hope that in future whenever I need help from your company, I will get same kind of service. Truthful discussion! by - Mayank Uppal It’s my pleasure to give feedback for the support I have received from you. Only after truthful discussion with you I was able to convince myself to go with Aegon Religare Term plan and secure myself. The support from your side was very fair and logical and it was not all a push like general sales call. Confidence and Respect for the organization by - Vivek Chauhan I would like to inform you that I have received the refund for my policy premium that was surrendered by me. This is made possible through your assistance and guidance which has in turn made me regain confidence and respect for the organization. Thank you once again. Precise & Patient! by - Rahul You resolved my query in quick time and provided valuable information in the email (Term Plan Comparisons and ARLIC_Claims) which was very useful and drove me to take the policy today. And your assistance during the online purchase was outstanding! You were so precise and patient for all my queries and gave due diligence on what I am entering. Super effort and appreciate all your help! Very Professional! by - Vijayarangam S, Chennai – (Manager) – SEBI I never thought it would be so easy and so accessible to contact people in an insurance company which does its business on the web. I appreciate the professional and quick service rendered by AEGON-Religare. Please keep it up Super quick Service! by - Sanjay K Deshmukh (AVP) Citrix systems Purchased iTerm online on 12th June. Cover commenced on 15th June.
Interestingly on the same day I had also started the process to buy additional life cover with one of your competitors through their agent (I wanted to spread my risk across companies) and it’s been 3 weeks and we are still in the process of completing documentation.
I must congratulate you on setting up such infrastructure which makes customers life easier and your service effective. I work in the IT industry and hence appreciate this experience all the more. I am more than happy to be used as a reference in case you need to as I would love to share my experience with everyone
First buying experience! by - Harikrishnan Kodakara This was my first time buying a policy online and was not sure how it would go. But I am extremely happy with the process which turned out to be easy and had no hassles at all.
Everything was properly informed and followed up. I will surely recommend AEGON to my friends and family.. well few are already planning to sign up soon.
Once again.. thanks a lot for the great service
Definitely Recommended! by - Kinjal Barai (Ergologistics) I have received the original policy document yesterday. It was a wonderful experience dealing with your organisation & you as well. I shall definitely recommend Religare's products to my friends & colleagues Wonderful Experience! By – Nilesh Nayak It was a wonderful experience dealing with you and I am extremely happy with the service and quick response Customer Delight! by - Amlan Chaoudhary Thank you for the excellent support from your end that kept on updating me on the process updates in real time till the issuance of policy, since application. This could be defined as "customer's delight" in true sense Prompt! by - Ravinder Saini I am impressed with your prompt reply. That speaks about the ethics of the company. Looking forward to have good association High degree of Prefessionalism! by - Puneet Khanna Thanks for welcoming me to Aegon Religare family. I am impressed with high degree of professionalism exhibited by you and your team. Thanks, one more time, and all the very best Happy customer! by - Sanjay Kumar I would like to thank you for the support and constant follow-up with your back end. I am a happy customer now! Very Professional! by - Sadhna Kathal Your services are excellent. I appreciate the professionalism in your approach What our existing customers had to say on being provided an upgrade
to the new iTerm plan:
Terrific customer service! by - Tanuj Kala This is indeed a terrific customer service in a world full of insurance companies that fool customers with bogus adverts. You have won a customer for life, who is going to recommend this plan to all his acquaintances Thanks for the added coverage and additional benefits! by - Suresh Rani Yes I was really surprised at the very first moment but now I am delighted by the very fact that you guys are taking care of existing customers as well by providing extras for the same premium , this is quite a unique gesture Thanks! by - Rajendra Bhat It is an amazing and unprecedented gesture , when Insurance companies today only believe in trapping a customer and being rigid about their terms thereafter . Pl convey my gratitude to your MD for such a bold decision Thank you for upgrading my iTerm policy! by - Raghavendra I am delighted to receive the revised policy endorsement copy. This makes me feel proud to be associated with AEGON Religare. Wishing your team @ AEGON Religare continue to deliver innovative products and reach greater heights of success Increased sum assured with same premium! by - Muniraja It is nice to know, with same premium we are getting an Increased sum assured This is awesome! by - Pravin Infact I was realizing the coverage is insufficient. I am sure all the existing iTerm policy holders will concur with me when I say - I and my family are deeply indebted to you for this pro-active initiative. I wish your team, All the success! I for one will strongly encourage/influence my friends/relatives to enroll in the AEGON Religare products I am enjoying with AEGON Religare! by - Krishna Patil I am delighted to get this news and impressed very much with your renewed policy terms. Looking forward for long term and healthy professional relationship with AEGON Religare and appreciate the kind of services Best Luck AEGON Team! by - Amit Lad Am really happy with the way AEGON is taking care of there existing customers and giving them services . I hope we get the same services and correspondence in future too
Sr.No Claim Paid Claim Type Date of Intimation Date of Death Proposal Date Plan Cause of Death Claim Decision Settlement Date Claim settled in 1 9,46,500 Death 18-09-2012 10-9-2012 15-06-2010 iTerm Natural ACCEPT 18-09-2012 0 2 30,00,000 Death 12-3-2013 30-01-2013 3-12-2012 iTerm H1N1 Pneumonia ACCEPT 12-3-2013 0 3 63,42,000 Death 22-04-2013 20-02-2013 23-07-2011 iTerm Heart Attack ACCEPT 22-04-2013 0 4 63,42,000 Death 22-04-2013 20-02-2013 18-08-2011 iTerm Heart Attack ACCEPT 22-04-2013 0 5 7,90,580 WoP on CI Rider 31-10-2013 NA 3-9-2012 iTerm Acute Lymphoblastic Leukemia ACCEPT 31-10-2013 0 6 20,00,000 Death 26-09-2013 29-06-2013 19-05-2012 iTerm Acute Myocardial Infarction ACCEPT 26-09-2013 0 7 100,00,000 Death 16-11-2011 11-6-2011 26-04-2010 iTerm Natural Death ACCEPT 22-11-2011 6 8 10,00,000 Death 13-06-2012 24-05-2012 5-10-2010 iTerm Suicide ACCEPT 19-06-2012 6 9 30,00,000 Death 11-12-2012 24-11-2012 24-05-2012 iTerm Dengue ACCEPT 17-12-2012 6 10 25,00,000 Terminal Illness 1-8-2013 NA 9-5-2012 iTerm Brain Tumor ACCEPT 7-8-2013 6 11 10000000 Death 1-11-2013 16-08-2013 31-03-2012 iTerm Road Accident ACCEPT 7-11-2013 6 12 8000000 Death 6-12-2013 30-09-2013 12/7/2013 iTerm Asphyxia” due to Drowning. ACCEPT 13-12-2013 7 13 100,00,000 Death 21-06-2011 8-5-2011 24-02-2010 iTerm Accident ACCEPT 29-06-2011 8 14 100,00,000 Death 19-01-2011 27-12-2010 10-11-2010 iTerm Accidental Death ACCEPT 1-2-2011 13 15 3,15,500 Terminal Illness 3-4-2012 2-3-2012 15-06-2010 iTerm Brain Tumor ACCEPT 17-04-2012 14 16 70,00,000 Death 6-6-2011 19-03-2011 2-2-2010 iTerm Accident ACCEPT 21-06-2011 15 17 50,00,000 Death 14-03-2012 3-2-2012 31-10-2010 iTerm Cardio Respratory Arrest ACCEPT 31-03-2012 17 18 2,52,000 Death 29-01-2013 23-11-2012 12-11-2012 iMax Electric shock ACCEPT 15-02-2013 17 19 120,00,000 Death 2-6-2011 25-03-2011 8-7-2010 iTerm Head Injury ACCEPT 20-06-2011 18 20 1,88,688 WoP on CI Rider 3-6-2013 NA 20-07-2012 iTerm NA ACCEPT 25-06-2013 22 21 5,19,792 WoP on CI Rider 26-12-2012 30-07-2012 1-3-2012 iTerm Hodgkin’s Lymphoma – Cancer ACCEPT 18-01-2013 23 22 11,38,000 Death 19-06-2013 30-05-2013 30-08-2010 iTerm Heart Attack ACCEPT 13-07-2013 24 23 63,42,000 Death 5-7-2013 16-06-2013 26-07-2010 iTerm Drowning ACCEPT 31-07-2013 26 24 105,00,000 Death 22-08-2013 7-7-2013 4/3/2011 iMax Cardiogenic Shock ACCEPT 20-09-2013 29 25 10,00,000 Death 16-01-2012 27-12-2011 13-12-2010 iTerm Heart Attack ACCEPT 18-02-2012 33 26 20,00,000 Death 11-2-2013 17-01-2013 17-07-2010 iTerm Accidental ACCEPT 16-03-2013 33 27 10,00,000 Death 14-06-2013 13-05-2013 15-02-2013 iTerm Cardiorespiratory arrest ACCEPT 18-07-2013 34 28 77,66,000 Death + ADDD Claim 13-05-2013 17-04-2013 3/12/2012 iTerm Road Accident ACCEPT 18-06-2013 36 29 25,00,000 Death 15-05-2013 13-03-2013 13-03-2012 iTerm Natural ACCEPT 24-06-2013 40 30 130,91,000 Death 18-10-2013 15-09-2013 iTerm Myocardial Infarction ACCEPT 29-11-2013 42 31 58,02,000 Death 20-05-2013 14-02-2013 24-09-2010 iTerm Suicide ACCEPT 31-07-2013 72 32 7,20,000 Death 4-1-2013 1-1-2013 11/4/2012 iMax Heart Attack ACCEPT 22-03-2013 77 33 5,51,502 WoP on CI Rider 11-1-2013 NA 23-03-2012 iTerm right side of Buccal Mucosa ACCEPT 1-11-2013 294
AEGON Religare Life Insurance Company is the pioneer in online life insurance business. We sold our first policy in October 2009 and today we have more than 77,000 customers who have bought our online plans. Since inception we have received 38 claims in our online business of which we have settled 35 claims, which is a 92% claims settlement ratio for online sales.
The 3 claims that we have had to reject have been due to non-disclosure of the existing chronic medical conditions and employment status. As a responsible life insurer we are committed to pay every genuine claim.
We are a relatively new life insurance company. As a corollary to the same most of our claims are early claims. Hence there is a skew in the ratio. As we grow in vintage we expect our claims ratio to improve further.
Our COO talks about claims on Headlines TodayClick to watch
Currently the ratio is level largely due to claims received from certain geographical regions of the country that have been a willful and deliberate attempt to defraud the company. These are instances of fictitious identities, fake documentation, misrepresentation of age, income or even cause of death. While we stand committed to pay EVERY GENUINE CLAIM we cannot stand by and allow ourselves to be deliberately duped. Our claim settlement ratio for online products is 92%. Our objective is to settle claims as early as possible and you would be glad to know that after receiving the necessary documents we take not more than 6 working days to settle a claim.
Things that ensure a hassle-free claims settlement!
Every genuine claim will be paid, it's a promise!K S Gopalakrishnan, Executive Director
Honouring claims when it matters the most. We, at AEGON Religare believe that it is our responsibility to understand the needs of our customers and fulfil them in the best way possible. We promise to pay every genuine claim, all you need to do is follow these simple guidlines:Verify all the content in the proposal form Disclose all your health and lifestyle related information Double check the nominee details Keep yourself and your nominee informed about all 'exclusions' Ensure that the policy is in-force
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 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.
How do you apply for AEGON Religare iTerm Plan?
Step 1: Choose the amount of protection you need
Step 2: Decide on the term of your policy
Step 3: Opt among available riders
Step 3: Make Payment
Step 4: Risk commences (subject to conditions) and policy information document is sent to you.
Death:In case of your unfortunate demise, the benefit payable to the nominee is Sum Assured and it does not change during the term of the contract.
Diagnosis of terminal illness:On diagnosis of any terminal illness, an amount equal to 25% of the base Sum Assured will be paid subject to maximum of Rs.100 lacs and the Death Benefit will be reduced by an amount equal to the benefit paid under this clause. No premium will be charged after company accepts the terminal illness claim.
Tax Benefits:As per applicable tax laws. Please consult your tax advisor for details.
Entry age Minimum: 18 years completed;
Maximum: 65 years last birthday
Maximum Maturity age Maximum: 75 years last birthday &Policy Term Minimum: 5 years; Maximum: 57 years Premium Payment Term (PPT) Single or equal to the Policy Term Premium Payment Frequency Single & Annual Minimum Premium Minimum Regular Premium: Rs. 1,675 p.a. Minimum Single Premium: Rs.7,075 Sum Assured (in Multiple of Rs.1,000) Minimum - Rs. 10,00,000; Maximum - No limit (subject to underwriting requirements)
Riders:You can make your plan more comprehensive by opting for the below mentioned riders:
• AEGON Religare AD Rider: In case of an accidental death of the Life Assured, the Sum Assured under the rider will be paid.
• AEGON Religare WoP on CI Rider: This Rider covers 4 critical illness conditions as specified in this document. On being diagnosed with any of these 4 critical illnesses, future premiums payable under the base plan and riders (if any) are waived while the life cover and rider cover (if any) continues.
The illnesses covered under this rider are as below:
• Cancer Coronary
• Artery Bypass Surgery
• Heart Attack
• AEGON Religare Women CI Rider: This rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness, a certain percentage of the base plan Sum Assured will be paid. The illnesses covered under this rider are classified into 2 groups viz. Group 1 & Group 2. The illness covered and the benefit amount are as below:
Group Conditions covered Benefit amount Group 1 Malignant Cancer of the Female Organs 5% of base Sum Assured subject to maximum of Rs.10 lacs Group 2
• Birth of child with Congenital Disorders / Surgeries
• Pregnancy Complications
2.5% of base Sum Assured subject to maximum of Rs.5 lacs
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.
On completion of the online
Temporary Insurance Certificate:requisite application process and payment of due premium, you need to take a print out of the Temporary Insurance Certificate, which ensures inception of your policy.
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 15 days of receiving the policy documents stating the reason for such cancellation. Upon such cancellation, you will be paid back the premiums after pro rata deduction for the premium for life insurance cover and AD Rider premium (if applicable), policy issue expenses viz. stamp cost and cost of medical.
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 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.
Terms and Conditions
Death:Death Benefit, if payable during the grace period, will be reduced by the outstanding policy premium.
Premium:If the premium received, is less than the due installment premium, the same will not be accepted. On the other hand, if the installment premium is more than the due premium, the excess premium will be refunded to the Policyholder without any interest. Premium rates applicable differ for male and female lives. Only online payment is accepted for the first premium.
Sum Assured:The Policyholder cannot change the Sum Assured during the Policy Term.
Lapse and Reinstatement:If premiums are not paid before the expiry of the 30 day grace period from the premium due date, the policy will lapse. If the Policyholder fails to reinstate a policy within this two year period from the premium due date, the policy will terminate. On reinstatement, all outstanding premiums, without interest will be payable.
Cancellation of Policy on Non Receipt of Documents:In case of non receipt of documents within 15 days from the date of issue of Temporary Insurance Certificate, the policy will be cancelled and the Policyholder will be paid back the premium without any deduction.
Maturity:The contract does not acquire any maturity value, therefore no amount is payable to the Policyholder on maturity.
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 or any other tax shall be levied as per the prevailing tax laws on premiums or benefits payable.
Suicide Exclusion for Base Plan:In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no Death Benefit is payable.
For Terminal Illness Benefit:No claim will be payable if the condition arises directly or indirectly as a result of any of the following:
• Self inflicted injuries, suicide, insanity, immorality, committing any breach of law.
• Unreasonable failure to seek or follow medical advice.
• Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner.
• Infection with Human Immunodeficiency Virus (HIV) or conditions due to any Acquired Immune Deficiency Syndrome (AIDS).
• 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.
Assignment and Nomination
• Assignment:An assignment of the Policy can be made by an endorsement on the Policy itself or by a separate instrument signed in either case by the assignor specifically stating the fact of assignment and duly attested. The first assignment can be made only by You. Assignment shall be effective, from and upon the service of a written notice to the Company together with the endorsement or instrument or a copy thereof duly certified to be correct by both the assignor and the assignee. Assignment will not be permitted where the policy is issued under the Married Women's Property Act, 1874 and conditions apply to assignments of policies issued to partnerships or Hindu Undivided Families.
• Nomination:You may at any time during the Policy Term make a nomination for the payment of the benefits under the Policy in the event of death of the Life Assured. Where the nominee is a minor, an Appointee, who is not a minor, will necessarily, be appointed by you to receive the Death Benefits during the minority of the nominee.
Nomination can be made by communicating the same in writing to the Company. The Nominee can be changed by the you at any time during the term of the Policy and any such change shall vacate earlier nomination automatically. Nomination will not be permitted if you are not the Life Assured under the Policy.
The Company does not express any opinion on the validity or legality of the assignment or nomination. An assignment cancels a nomination automatically.
In absence of the nominee, the Death Benefit will be paid to your legal heir."
About AEGON Religare Life Insurance
AEGON, an international life insurance, pension and investment company, Religare, a global financial services group and Bennett, Coleman & company, India's largest media house, have come together to launch AEGON Religare Life Insurance Company Limited (ARLI). ARLI launched its pan-India operations in July, 2008 following a multichannel distribution strategy with a vision to help people plan their life better.In an industry first, we offer policy servicing on the phone via Interactive Voice Response System (IVR).
As an international life insurance, pension and investment company,AEGON has businesses in over twenty markets in the Americas, Europe and Asia. With headquarters in The Hague, The Netherlands, AEGON companies employ approximately 28,000 people and serve some 40 million customers across the globe. AEGON has more than 160 years of experience with its roots going back to 1844 and holds 26% equity in our Company
Religare Enterprises Limited (REL)is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, Religare's largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. With over 10,000 employees across multiple geographies, Religare serves over a million clients, including corporates and institutions, high net worth families and individuals,and retail investors. REL holds 44% equity in our Company.
Bennett, Coleman & Company Limited (BCCL) ,India's largest media house holds 30% equity in our Company. BCCL owns some of the prominent brands such as Times of India, Economic Times, Times Now, Radio Mirchi, Zoom and Femina.
Prohibition of RebatesSection 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.
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.
The quote number for which you have made the payment is your Policy number.
AEGON Religare will bear the medical expenses for the tests conducted, which are required for processing your policy.
Once your policy is issued, Medical reports will form a part of the physical policy document.
Once the policy is issued changes related to the policy term or sum assured cannot be processed. You can re-apply for a fresh policy with the desired term or sum assured.
If I forget to attach (rider/s) while applying for the online policy, is it possible to add it later after my policy is issued?
Rider/s can be added effective policy anniversary incase there were not added while purchasing the plan. Please contact our customer care toll free number- 1800-209-9090 (8.30am to 8.30pm) for more details.
If I wish to include critical information about my lifestyle/family history/past medical history which I had missed updating while purchasing the plan. How do I add them on the proposal form?
We request you to be careful while filling the proposal form as this information is very critical for Risk assessment & decision on the policy. However if you miss out any information, please write to firstname.lastname@example.org with the details.
Please contact our customer care toll free number- 1800-209-9090 (8.30am to 8.30pm) or you can send an e-mail on email@example.com with respect to the change.
Once the Policy is issued, the soft copy of the policy document will be sent to the registered email address within 5 days & the physical (hard) copy of the policy document wil be sent via courier within 10 days to your communication address registered with us.
28 days prior the premium due date we will post the renewal letter to you.
An email notification will also be sent to the registered email id 7 days prior to the premium due date.
Along with this you will also receive a SMS & call from AEGON Religare.
Once the policy is issued, Premium will remain the same for the entire tenure of the policy. This is subject to service tax regulations as declared by the Government of India.
You can contact us on our toll free no 1800-209-9090 or you can write to us at firstname.lastname@example.org
You can courier an original copy of the cancelled cheque along with the original ECS MANDATE FORM, which is available on the website to -
Unit No-102, 1 st floor, Nomura Building (Winchester), Hiranandani Business Park, Hiranandani Powai, Mumbai, Maharashtra - 400076
I have completed my medical tests and uploaded the documents online. When will the process get completed?
Post medicals we need 10 days to confirm the decision on the policy.
You can submit the past medical reports however post reviewing the same we will confirm whether we can consider the same or not.
You have the option of either uploading your documents on the website or sending it via courier to us.
A Term Insurance Plan is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money(Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to the his nominee (any family member). Under a term insurance plan, the premiums are fixed for the policy tenure.
Let's take the case of Ramesh. A young executive aged 28 years, annual income 5 lakhs, recently got married and has retired parents who are dependent upon him. Ramesh is the sole bread-winner of the family and has a home-loan of 70 lakhs.
Now if Ramesh were to meet with an accident and die as a result, then the sole source of income for Ramesh's family would end. As such the family would have to arrange for providing for the home-loan and also expenses for daily life.
Now a term plan is the best form of protection that Ramesh could provide for his family.
For Ramesh, a non-smoker male, age 28 years, a cover of 70 lakhs for a period of 40 years (till he turns 68) would cost Rs. 5,530 per annum only. So if Ramesh purchased a term plan and if he was ever to meet with an uncertainty in life and not be around then his family members would get Rs. 70 lakhs from the life insurance company from which Ramesh has purchased the term plan. This would ensure that Ramesh's family is not burdened under the liabilities in his absence.
Term insurance policies are best suited for working individuals who have dependents (Children, parents) and are looking for a considerable sum of protection against uncertainties of life (death) at fairly low prices.
Term insurance plans fulfill the basic purpose of any life insurance policy by providing financial security for the applicant and his family.
Today majority of the frequent fliers in India buy their Air tickets online directly and enjoy the same service as people who buy them offline.
The only difference lies in the purchase process. Similarly, the major difference between an online and offline term plan is the process of purchase and the secondary difference is that the online term plans are available at approximately 30 to 40 percent lower premiums compared to offline term plans. Offline term plans are costlier due to distribution costs associated with the same whereas, these costs are absent in an online term plan and as such the benefit of the same is passed on to the policy holders in terms of lower premiums.
All other benefits remain the same for both online and offline customers. The same service, benefits are applicable to both.
Why should I buy a life insurance policy if I am already insured under a group insurance scheme by my employer?
It is always prudent to buy an individual life insurance policy because
a. The amount of insurance you are covered for may not be a very large sum
b. If your employer decides on cost-cutting, you may no longer be insured
c. If you decide to leave your employer, you may no longer be covered
d. The older you are when you buy insurance, the higher is the premium you have to pay for the same insurance cover.
Buying a term plan online is one of the cheapest modes to buy insurance as it saves your time and money. With the arrival of e-commerce the world has moved ahead fast, competitively.
Online term insurance can be purchased in 09 minutes flat and in 3 simple steps. Simply enter your basic details like age, policy term that you wish to be covered for, Sum assured that you wish to apply for and calculate your premium. Then proceed to create an eQuote and fill in your basic details like employment, family, medical history and lifestyle details. Next you can make the payment through your credit/debit card or internet banking account and your application for term plan is completed.
For any queries/assistance call up the life insurance companies' helpline number listed on the website and clarify your concerns before making the purchase.
AEGON Religare.com ensures that every transaction you conduct online is in a safe and secure environment. To achieve this, AEGON Religare.com is protected by Secured Socket Layer (SSL) technology by VeriSign, the leaders in encryption technology. The process of encryption takes your credit card information and converts it into bits of code that are securely transmitted over the Internet. This scrambled data cannot be read as the information travels over the Internet. AEGON Religare doesn’t store any Credit/Debit card, Internet banking related information from the customer.
AEGON Religare life insurance is the pioneer in online insurance and it introduced India's first online term plan in Oct'2009. Since then AEGON Religare have sold over 35,000+ policies online and continue to service customers on this platform directly.
• iTerm offers you the option of the longer term available under any term plan today.
• iTerm also offers you an inbuilt Terminal illness benefit at No extra cost.
• Cover against all forms of death, including terror attacks.
• Choice of 3 additional riders.
• Tax benefits under Sec 80C.
An insurance agent will tell you that a good estimate for calculating your insurance amount should be 8-10 times of the gross yearly income of the insured. All though this a good rule of thumb but at the same time, is also an oversimplified way of calculation. This calculation does not factor in the life style or debts of the insured, as different people have varying lifestyle and different amount of debt to repay.
Use our simple and effective calculator to check your ideal insurance amount.
Ideally, the term of your policy should be equal to the number of years your family will be dependent on you financially.
A nominee is a person who is eligible to receive the coverage amount from insurance policy in the event of death of the applicant.
If death takes place during the term of the insurance policy, then the nominee receives the sum assured under the plan.
Once the policy is issued, Premium will remain the same for the entire tenure of the policy. This is subject to service tax regulations as declared by the Government of India.
Once the policy is issued you are covered across the globe. Even in case you get an opportunity to work abroad the coverage shall be applicable.
If I reside abroad and I am working there for a couple of years after I purchase the plan will I be covered?
In case you are a frequent traveler to foreign locations, you need to just disclose the same in the form with respect to the ‘travel question'. You do not need to inform the company of your travel abroad unless you have already got an offer or work permit and are in the process of migrating while applying for the policy.
Post applying for the plan if one is travelling abroad or attains an NRI status, the cover from the term plan will still be applicable.
*The above premium is for a male 25 years old, non-smoker for a term of 20 years. Premium reflected are exclusive of Service Tax.
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 at least 80% of the premiums paid, provided the policy is in force.
Please consult your tax advisor for details. 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 financial products nor invest premiums.
- IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge police complaint along with details of phone call, number.
Buyonline in 8 minutes as per internal analysis. UIN Number - 138N016V03. © Copyright AEGON Religare 2007
AEGON Religare Life Insurance Company Limited Registration No. 138.
Registered office: AEGON Religare Life Insurance, Building No. 3, Third floor, Unit No. 1, NESCO IT Park, Western Express Highway, Goregaon (E), Mumbai 400063.
AEGON Religare Life Insurance Company is the pioneer in online insurance with plans like iTerm which is a term insurance plan, AEGON Religare iHealth, which is an online Health insurance plan, and iMaximize an online unit linked insurance plan. All these plans can be bought online within a few minutes. These policies also help in tax planning. AEGON Religare offers life insurance products for every need mainly protection, savings and health at very affordable rates.