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Aegon Life iTerm Prime logo

Aegon Life iTerm Prime

Introduction to Aegon Life iTerm Prime

Aegon Life iTerm Prime is a term insurance plan offered by Aegon Life Insurance Company, formerly known as Aegon Religare Life Insurance Company. A term insurance policy is the most cost-effective and efficient option to safeguard your family's financial security. In case you pass away during the policy tenure, the insurer will pay a sum of money as a death benefit to your family. They can use this money to meet their financial needs without having to compromise on their current lifestyle, as well as to pay off any outstanding loans or liabilities.

beshak ratings
Verdict: Aegon Life iTerm Prime

This product is cheaper than other plans in the market and offers an early exit option as well as comprehensive critical illness coverage. However, it doesn’t allow you to choose important customizations such as increasing cover and doesn't allow many limited pay options. It also doesn’t give you any options to customize how your family will receive the claim amount. Further, our research indicates that the insurer has received a higher number of claim settlement complaints as well as policy purchase complaints, suggesting a poor track record in terms of both purchase and claims service experience.

Pros & Cons: Aegon Life iTerm Prime

  • arrow Cheaper than other products in the market
  • arrow Option to exit the plan while it is still active and receive a refund of premiums
  • arrow Critical illness rider available, and the payout is in addition to the life cover amount
  • arrow Doesn't offer the option to automatically increase your claim amount, with time
  • arrow Not many Limited Pay options available, to speed up payments
  • arrow No option to customize claim payout
  • arrow Received higher number of complaints on claim settlement compared to other insurers
  • arrow Received higher number of complaints during policy purchase compared to other insurers

About Aegon Life Insurance Company Limited

Aegon Life Insurance Company Limited logo

Aegon Life Insurance Company formerly known as Aegon Religare Life Insurance Company is an Indian Life insurance Company. Founded in the year 2008, it is a joint venture between Aegon NV, a leading international provider of life insurance, pensions and asset management services, and Bennett, Coleman and Co. Ltd., India's largest media conglomerate popularly known as the Times Group. The company is headquartered in Mumbai and its CEO/CMD is Mr. Satishwar Balakrishnan.

Founded in
JV Partners
Aegon N.V. and Times Group (Bennett, Coleman and Company)
Turnover (GWP)
95.04 Crores
Number of Policies
Number of Claims

Detailed Product Specs & Rating: Aegon Life iTerm Prime

Claims Experience 3.78/5 star green
Customer Service 2.4/5 star green
Product Benefits 2.2/5 star green
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
% of Complaints received on overall claims
% customers unhappy with claims experience
How complex is the Claim Form?
The longer, the more hassles during claims
Claim Settlement Ratio (No. of claims)
What % of the claims received were paid?
Claim Settlement Ratio (Value of claims)
What % of the claim amount received was paid?
Solvency Ratio
Reflects an insurance company’s ability to pay claims. Insurers are required to maintain a minimum 150% Solvency Ratio as per IRDAI regulation
Personal relationship manager for claims
Not Available
Can you track claims online?
Dedicated toll-free for claims service
Not Available
Separate Claim Form for above 3 Years Claim
Not Available
Home pickup of Claims
Not Available

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