Aegon Life iTerm Comfort Term Insurance is a cutting-edge insurance product designed to provide comprehensive protection and financial security to individuals and their loved ones. This insurance plan offers a range of benefits, including substantial coverage, affordable premiums, and the flexibility to customise your policy to meet your specific needs. 

With the Aegon Life iTerm Comfort Insurance plan, you can enjoy peace of mind knowing that your family's future is safeguarded, even in unforeseen circumstances. Explore the various features and options of this innovative insurance solution to secure a brighter tomorrow for you and your loved ones.

Premium Prices and Coverage of Your Aegon Life iTerm Comfort Term Insurance

You will find the estimated premium price of this term insurance plan in the table given below:


Premium Price

Minimum Coverage

Claim Settlement Ratio

Aegon Life Insurance Company Limited

Starting from ₹493/month

₹25 Lakhs

99.37% in FY 22-23

*The premium price and coverage stated in the table above are indicative and may change as per the insurance company’s terms and conditions. 

Inclusions and Exclusions

Here are the inclusions and exclusions of this Aegon Life Term Insurance plan:

1. Plan Inclusions

  • Death Benefit: The primary inclusion is the death benefit. In the event of a policyholder's demise during the policy term, the nominee(s) will receive a lump sum payout, also known as the sum assured. This payout provides financial support to the family in the absence of the insured.

2. Plan Exclusions

  • Suicide Clause: Suicide within the first 12 months of the policy's inception is excluded. If the policyholder commits suicide during this period, the nominee(s) may receive only a refund of the premiums paid, not the full sum assured. Nominee (s) are entitled to 80% of the total premiums paid till the date of death or the surrender value (whichever is higher will be applicable) as available on the date of death.

  • Non-Disclosure of Material Information: Failure to provide accurate and complete information during the application, especially regarding health conditions or lifestyle choices, could result in the denial of claims. 

  • Waiting Period: Certain critical illness riders or add-ons may have a waiting period of 90 days before they become effective. This means that the policyholder may not be eligible for a critical illness claim during the initial waiting period.

Plan Features and Benefits

Given below are the features and benefits of getting the Aegon Life iTerm Comfort Term Insurance policy:

Financial Protection for Loved Ones

Perhaps the most significant benefit of this insurance plan is that it offers financial safety for your family in case of your untimely demise. The death benefit paid out to your beneficiaries can cover immediate expenses, outstanding debts, and provide long-term financial support.

Tax Benefits

Premiums paid and accrued bonus that are received under the policy are eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.

Special Exit Value

Option to get all your premiums back if you wish to exit the policy during the period of one year upon attaining the age of 55 years provided the entry age is below 40 years and cover till age is 70 ye Read Morears. Read Less

Zero Charge on Free Look

If you wish to return the policy for any reason within 30 days, you get the entire amount refunded (inclusive of taxes).

Add-on Covers

You can opt for insurance riders or add-on covers through this term insurance policy. These include the Accidental Death Benefit Rider and the Critical Illness Rider. In this way, your sum assured can be enhanced or your premium can be waived under specified circumstances.

Debt Repayment

Life insurance can be used to pay off outstanding debts, preventing the burden of these obligations from falling on your family.

Eligibility Criteria

Here’s the eligibility criteria for the Aegon Life iTerm Comfort Insurance plan:

  • Entry Age: 18 years to 65 years

  • Maturity Age: 23 years to 70 years

  • Sum Assured: ₹25 Lakhs and above

  • Policy Term and Premium Payment Term: 5 years to (70 years - entry age)



Important terms you should be aware about before you get your own term insurance plan:

  • Term Insurance: Term insurance is a type of life insurance that offers coverage and financial security for a specified period, known as the "term." It provides a death benefit to the surviving beneficiaries if the policyholder passes away during the term.
  • Premium: The premium for term insurance is the amount of money paid by the policyholder to the insurance company at regular intervals (e.g., monthly, annually) to maintain the term insurance policy.
  • Death Benefit: The death benefit is the lump sum amount paid to the beneficiaries or nominee(s) upon the death of the insured person during the policy term.
  • Policy Term: The policy term refers to the specific duration for which the term insurance policy remains in force. It can vary from a few years to several decades, depending on the policy.

  • Nominee: The nominee is the person designated by the policyholder to receive the death benefit in the event of the insured's death. This individual is usually a family member or close relative.

  • Rider:  Riders are optional add-ons or supplementary benefits that could be attached to a term insurance policy to enhance your coverage. Typical riders include critical illness rider, accidental death benefit, and waiver of premium rider.

  • Sum Assured:  The sum assured, also known as the face amount or coverage amount, is the predetermined amount that the insurance company will pay to the beneficiaries upon the insured's death.

  • Term Renewal: Some term insurance policies offer the option of renewing the policy for another term at the end of the initial term without the need for medical underwriting. This feature is often available until a specified age.

  • Convertible Term Insurance: Convertible term insurance allows policyholders to convert their term policy into a permanent life insurance policy without the need for a medical exam.
  • Non-Convertible Term Insurnce:  Non-convertible term insurance does not offer the alternative to convert the policy into a permanent one. It remains a term policy for the entire duration of the term.
  • Grace Period: A specified period after the premium due date during which the policy remains in force even if the premium has not been paid. Premiums paid during this period are considered on time.

  • Contingent Beneficiary: The individual or entity designated to receive the death benefit if the primary beneficiary is unable or unwilling to do so.

  • Accelerated Death Benefit: A rider that allows you to receive a part of the death benefit if you’re diagnosed with a terminal illness, offering financial support for medical expenses.

  • Term Conversion Period: The specific timeframe during which a term insurance policy can be converted to a permanent life insurance policy without requiring a medical exam.

Read More

Product Disclaimers

Aegon Life iTerm Comfort (UIN: 138N080V01) is a Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan. For more details on risk factors, terms & conditions please read sales brochures and benefits illustrations carefully before concluding a sale.

Total Premiums means total of all the premiums received, excluding any extra premium, any rider premium and taxes.


#In case of any observations during Video Medicals, physical medicals will be required and premiums rates may vary. Home visits are subject to availability in your location.


Tax benefits are subject to changes in tax laws. The Company does not assume responsibility on tax implication mentioned anywhere in this page. It is recommended to obtain professional advice for applicability of tax benefits.


As per the latest annual audited figures, Individual Death Claim Settlement ratio for FY 2022-23 is 99.37%.


All ages above applicable as on last birthday


Subject to board approved underwriting policy


Premium paid under the plan is eligible for Tax Benefits u/s 80C. Tax benefit is subject to provisions of Income Tax Act, 1961 and tax laws are subject to amendments from time to time. 

IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.


Participation to buy insurance is purely voluntary. The contract of Insurance is between Aegon Life Insurance Company Limited and the Insured and not between Bajaj Finserv and the Insured.


This policy is underwritten by Aegon Life Insurance Company Limited. This is a non-linked non - participating term insurance plan. All terms and conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for sub-standard lives, smokers or people having hazardous occupations, etc. The insurance cover for the life insured will commence on the policy issue date.


Life Insurance Coverage is available in this product. Please know the associated risk and applicable charges from your insurance agent or the intermediary or policy document of the insurer


For any information including cancellation, claims and complaints, please contact our Insurance Advisor/Intermediary or call 1800-209-9090 (9am to 7pm, Mon to Sat) or write to us at Visit us at:


Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfilment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Aegon Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.


The brochure is not a Contract of Insurance. The precise terms and conditions of this plan are specified in the Policy contract


Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs and the Surrender Value payable may be less than the all the Premiums Paid.


This plan is also available for sale through online mode. This product brochure should be read along with Benefit Illustration.


Bajaj Finserv Direct Limited is a registered corporate agent of Aegon Life Insurance Company Ltd. For Bajaj Finserv Direct Limited, IRDAI Registration Number CA0551 and does not underwrite the risk or act as an insurer.


c. * mark needs to be added along with the premium in the table.

d. ^ mark needs to added along with the CSR in the table. Also, a disclaimer along with ^ needs to be added below the table along with the existing disclaimer- As per the latest annual audited figures, Individual Death Claim Settlement ratio for FY 2022-23 is 99.37%.

Read More

FAQs and Support

What is Aegon Life iTerm Comfort Insurance?

Aegon Life iTerm Comfort Term Insurance is a term insurance plan offered by Aegon Life Insurance Company. It offers financial protection to your family in the event of your unfortunate demise during the policy term. It offers a lump sum payout to your beneficiaries, ensuring their financial security.

What is the policy term available under the Aegon Life iTerm Comfort Insurance plan?

The policy term for Aegon Life iTerm Comfort Insurance can typically range from 5 years to 62 years. You can choose a term that aligns with your financial goals and the needs of your family.

How does the death benefit work in this insurance plan?

In the unfortunate event of the policyholder's demise during the policy term, the plan pays out a death benefit to the nominee(s) or beneficiary. This benefit is typically a lump sum amount and is tax-free, providing financial support to your family.

Are there any additional riders available with Aegon Life iTerm Comfort Term Insurance?

Yes, Aegon Life typically offers optional riders that can be added to enhance your coverage. These riders may include accidental death benefit, critical illness benefit, waiver of premium, etc. These riders provide additional financial protection in specific situations.

Can I customise the coverage amount to suit my needs?

Yes, you can customise the sum assured (coverage amount) according to your financial requirements. The sum assured determines the amount your beneficiaries will receive in the event of your demise. It's important to assess your family's financial needs when selecting the sum assured.

Is there a medical examination required to apply for the Aegon Life iTerm Comfort Term Insurance plan?

The need for a medical examination may vary based on your age, the sum assured, and your medical history. Some applicants may be required to undergo a medical examination as part of the underwriting process, while others may be eligible for a simplified underwriting process.

Can I get tax benefits with Aegon Life iTerm Comfort Insurance?

Yes, you may be eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, subject to prevailing tax laws. Premiums paid for the policy are typically eligible for deductions, and the death benefit received by your beneficiaries is tax-free.

Loan Offer
Download App