Pune amongst top 5 cities with highest percentage of iTerm buyers in India
Pune January 08, 2020: Aegon Life Insurance recently announced the launch of another innovative version of its flagship and highly popular ‘iTerm’ Insurance Plan – with some truly unique benefits.
The new Aegon Life iTerm Insurance Plan provides regular monthly income after the age of 60 and offers financial protection till the age of 100 years. It provides the flexibility to choose from three plan options – Dual Protect, Life Protect and Protect Plus. This comprehensive product also offers other additional benefits such as quit smoking, auto-increase of cover, life stage benefit and InstaCoverTM. For example, to encourage a healthy lifestyle the ‘Quit Smoking benefit’ motivates customers to quit their smoking habits and get a discount on their future premiums thereafter.
Mr. Harish Kurudi, Head of Products, Aegon Life shared, “With protection as a front, Aegon Life wants to bring a simplicity revolution in the insurance industry. I am delighted to announce that for the new Aegon Life iTerm Insurance Plan we just launched, Pune is amongst the top 5 cities that have the highest percentage of buyers in India. It has been observed that the new iTerm is most popular in the age group of 31 to 35 years in the city. This is a very positive and reassuring number as this shows that Punekars have chosen to secure their family at an early age. This is further attested by the fact that 6 out of 10 policies bought online are term. There is also tremendous growth in the number of women taking protection plans, out of the total policies sold in Pune almost 30% is bought by them.”
He further added, “Pune is an important market for us, and we are focused on creating a value proposition for our customers. In this age of digitization, the customer is continuously evolving, we have seen trends such as needs taking the forefront in this city. To suit their demands, coming up with value-based products is our prime motto.”
This Term plan comes with 3 options for the customers to choose from with multiple benefits tailored to meet the needs of the new age customers.
Regular monthly income after the age of 60 Cost effective Life cover right away, without having to wait long for coverage to startThe Aegon Life iTerm Insurance Plan is available across all platforms and channels. Below are the key features of this product that customers can benefit from.
- Enhance life cover annually, to keep up with inflation
- Reward for switching to a healthy lifestyle
- Flexibility to increase life coverage amount at key milestones of life
- Financial protection on diagnosis of terminal illness
- Flexible Policy Term & premium payment options
- Option to Smokers to quit smoking and reduce their policy premium from 2nd policy year onwards, under our ‘It Pays to Quit Smoking’ benefit
- Option to pay premiums for a limited period and enjoy Policy benefits for the complete Policy Term
- Flexibility to choose the Death Benefit payout:
ü As a lump sum payment, or
ü As fixed monthly income for 100 months, or
ü As a combination of the above
- Tax benefits on premiums paid and benefits received as per the prevailing tax laws
