The Business Bytes
TBB BUREAU
MUMBAI, JAN 3, 2023
Aegon Life Insurance has launched the iTerm Prime Insurance plan catering to the need of self-employed individuals with a special 10 per cent discount on first year premium.
Designed with Emerging India in mind, iTerm Prime offers a minimum sum assured of Rs 25 lakh, with no upper limit on a consumer’s requirement, making it accessible to a large swathe of the population with different insurance needs. The product also offers a ‘Special Exit Value’ option that allows the policyholder to get all premia back when they turn 55 years old.
“iTerm Prime is designed to encourage emerging India to gain access to life insurance. To make insurance accessible for self-employed individuals, we have simplified buying journeys and sped up underwriting by digitizing it. Besides this, we have introduced a special discount and flexible payment options to make the product more affordable for the end consumer,” said Satishwar B, MD and CEO of Aegon Life Insurance.
“At Aegon Life, we have simplified insurance with zero paperwork. All one needs to purchase insurance is his/her PAN, Aadhaar or Driving license – no uploads or scans of documents required,” he added.
The launch of iTerm Prime is yet another feather in the cap for Aegon Life, which has launched a series of insurance products to cater to self-employed individuals – a market that has remained underpenetrated for years. Aegon Life has a proven track record of settling claims efficiently, with a high claim settlement ratio of 99.03 per cent. With all these benefits, Aegon Life’s iTerm Prime is a must have for every household in emerging India.
