Aegon Life Insurance launches the Iterm Prime Insurance Plan. Know the details
The plan offers a minimum insured sum of £ 25 Lakh, without a maximum limit in the requirement of a consumer, which makes it accessible to a large strip of the population with different insurance needs.
Aegon Life Insurance has launched the Iterm Prime Insurance Plan which satisfies the need for self -produced people with a special discount of 10% in the first year prize. Designed with emerging India in mind, iTerm Prime offers a minimum sum insured of ₹25 lakhs, with no upper limit on consumer requirements, making it accessible to a large section of the population with different insurance needs.
The product can be purchased on the Aegon Life website and through its partners; the checkout process is completely paperless and requires no documentation or charges. The product also offers a “Special Exit Value” option which allows the policyholder to recoup all premiums when they reach the age of 55. “iTerm Prime is designed to encourage emerging countries in India to access life insurance.
The self-employed make up the majority of India’s workforce, but this segment remains underinsured. To make insurance accessible to them, we’ve simplified travel purchasing and accelerated underwriting by going digital.
In addition to this, we have introduced a special discount and flexible payment options to make the product more convenient for the end consumer,” said Satishwar B., MD and CEO of Aegon Life Insurance. He added: “The number of independent people in India was 333 million in 2021.
This huge population had no access to adequate fixed -term insurance in the past, mainly due to the vast documentation involved. At Aegon Life we have simplified insurance with no paperwork. All you need to buy the insurance is your PAN, Aadhaar or driving licence, no need to upload or scan.”