Aegon Life iTerm Plan's Dual Protect Option: A Feature Beyond Regular Term Insurance

/ -- Term insurance plans may be preferred for their low premium charges, but they typically only offer death benefits to the nominee of the deceased policyholder. In case the life assured survives the policy, no benefits are paid out to the investor. Aegon Life, with its Dual Protect Option, has helped bridge these gaps in traditional term plans. This option is a new variant of the company's flagship insurance product - the Aegon Life iTerm Insurance Plan.

Rolled out to investors in November 2019, the Dual Protect Option ensures that the premiums paid by the policyholder do not amount to nothing. Survival benefits form a key part of this variant of the term plan.

Important features of the iTerm Insurance Plan
Survival benefits offered by the Dual Protect Option
Understanding these survival benefits: An illustrative example
These payments continue until any one of the following three events occur:
More reasons to opt for the Dual Protect iTerm Insurance Plan
With its monthly payout feature, the Dual Protect variant of the Aegon Life iTerm Plan makes up for the lack of survival benefits under conventional term plans. As Vineet Arora, the MD & CEO of Aegon Life Insurance explained, "This new avatar of the term plan provides monthly earnings after the age of 60 and coverage up to 100 years of age. This not only secures the future of the policyholder's family financially, but it also provides them with a regular income to fall back on after retirement."
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