Yes you read it right. As per Mr Yateesh Srivastava (Aegon Religare Chief Marketing Officer) – Aegon Religare Life Insurance is set to make iTerm more attractive by reducing premiums and increasing benefits in the next 10 days. The new iTerm will offer a higher sum assured at a lower or equal premium.
‘The reduction in premium will be between 12 per cent and 32 per cent, depending on age, the sum assured and tenure’, Aegon Religare Life Director (Product Development and Pricing) Mr Rajesh Rajput told.
Mr Rajput said existing customers will be offered an additional cover or rider to compensate for the reduction in premium charges in the new iTerm, subject to regulatory approval.