Aegon Life vs IndiaFirst Life
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Aegon Life vs IndiaFirst Life Insurance 2024

Aegon Life and IndiaFirst Life both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of Aegon Life is 99.03% whereas IndiaFirst Life has 96.92% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit Aegon Life

Aegon Life

Edit india-first-life

IndiaFirst Life

Number of life insurance plans and add-ons
Entry Age (Min-Max) 20-65 years 20-65 years
Policy Term 10-75 years 5 - 40 years
maturity Age (Min-Max) 75 years 70 years
Claim settlement ratio (CSR) 99.03% 96.92%
Asset under managment (AUM) 769.5 Crores 21683 Crores
Solvency ratio 3 1.7
Policy Type
  • Term insurance
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 5 Lakh
  • Maximum- No Limit
  • Minimum- 5 Lakh
  • Maximum- No Limit
Optional Additional Riders
  • Group additional benefit rider
  • Waiver of premium rider
  • Term rider
  • Group additional benefit rider
  • Waiver of premium rider
  • Term rider
Number of term plans 10 4
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit Yes Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

Life Insurance Companies

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Aegon Life Term Insurance Plans

Bandhan Life Saral Jeevan Bima

A standard pure protection plan with simple terms and conditions providing death benefit to the family of the policyholder.

Unique Features

  • Simple & easy to understand
  • Cost-effective plan
  • Flexibility to select policy term

Saral Jeevan Bima (Pros)

  • Bandhan Life AD Rider
  • Choose To pay Premium Once
  • Max Sum Assured 25 L

Saral Jeevan Bima (Cons)

  • No Maturity Benefit
  • No Surrender Benefit
  • No Survival Benefit

Saral Jeevan Bima (Other Benefits)

  • Spouse Cover
  • Suicide Cover After 12 Months
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Bandhan iTerm Comfort

A plan enriched with add-on riders for Accidental Death and Critical Illness, coupled with an assured life insurance cover that offers a lump-sum payout

Unique Features

  • Max Sum Assure 1.25 Cr
  • 105% Death Benefit
  • Special Exist Value At Age Of 55

iTerm Comfort (Pros)

  • Bandhan Life CI Care Rider
  • Bandhan Life AD Rider
  • Suicide Cover After 12 Months

iTerm Comfort (Cons)

  • No Maturity Benefit
  • No Surrender Benefit
  • No Loan Allowed

iTerm Comfort (Other Benefits)

  • Tax Benefit
  • Option to Attach or Detach Riders
  • Policy Revival Within 5 Years

iTerm Comfort (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - 40 Years

Bandhan iTerm Prime

This comprehensive policy offers the flexibility to enhance life coverage and attach or detach riders, with a choice of 4 riders and coverage for 36 critical illnesses.

Unique Features

  • Bandhan Life AD Rider
  • Bandhan Life Disability Rider
  • Non-Smoker and Female Discounts

iTerm Prime (Pros)

  • Bandhan Life Women CI Rider
  • Bandhan Life CI Care Rider
  • Bandhan Life WoP Rider on CI

iTerm Prime (Cons)

  • No Maturity Benefit
  • No Loan Allowed
  • Policy Terminates Post Payment of Death

iTerm Prime (Other Benefits)

  • Surrender Benefit
  • Inbuilt Terminal Illness Benefit
  • Life Coverage Till the Age of 100 Years

iTerm Prime (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 100 Yrs
  • Premium Payment Term - SP

Bandhan Life iTerm Plus Plan

This plan offers benefits for critical illness while offering a lump-sum payment in the event of demise, and comes with flexible premium payment.

Unique Features

  • 4 Plan Options
  • 50 Lakhs for Accidental Death
  • Non-smokers & Female Discounts

iTerm Plus Plan (Pros)

  • Terminal Illness
  • Suicide Cover After 12 Months
  • Permanent Disability Cover

iTerm Plus Plan (Cons)

  • No HIV Cover
  • No Surrender Benefit
  • No Maturity Benefit

iTerm Plus Plan (Other Benefits)

  • Waiver of Future Premiums
  • 1 Cr Natural Death Cover
  • Coverage Option till the Age of 80 years

iTerm Plus Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 80 Yrs
  • Premium Payment Term - 50 Yrs

IndiaFirst Life Term Plans

A pure term plan insurance that offers flexible premium payment options, and innovative coverage features and return of premium option.

Unique Features

  • Return of Premiums of maturity
  • Coverage till 100 years
  • Spouse coverage under same plan

Life Guaranteed Protection Plan (Pros)

  • 1 Crore Cover
  • 3 Plan Options
  • WoP Premium for 40 Critical Illnesses

Life Guaranteed Protection Plan (Cons)

  • 1 Year WP For Suicide
  • No Rider Benefit
  • No Pre-Existing Conditions

Life Guaranteed Protection Plan (Other Benefits)

  • Whole Life Cover (Till Age 99)
  • WOP Option For Disability
  • Adjust SA With Life Stage

Life Guaranteed Protection Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 50L
  • Maximum Maturity Age - 99 yrs
  • Premium Payment Term - 5 To 35 Years

IndiaFirst Life Plan

A pure-term insurance plan offering comprehensive coverage at affordable rates, with options for premium payment throughout the policy term.

Unique Features

  • Life cover up to 40 years
  • Affordable premiums
  • Avail Tax Benefits

IndiaFirst Life Plan (Pros)

  • High Sum Assured Plan
  • Flexible Premium Payment
  • Inter Consultation Services

IndiaFirst Life Plan (Cons)

  • No HIV Cover
  • No Maturity Benefit
  • No Rider Benefit

IndiaFirst Life Plan (Other Benefits)

  • Multiple Premium Frequencies
  • Long Policy Term up to 40 Yrs
  • High Coverage from Rs.1 lakh to 50 cr

IndiaFirst Life Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 60 Years
  • Minimum Sum Assured - 1L
  • Maximum Maturity Age - 70 yrs
  • Premium Payment Term - 5 To 40 Yrs

IndiaFirst e–Term Plan

Online plan with 4 plan options offering coverage for the 1st & 2nd child's birth or adoption and home loan.

Unique Features

  • Critical Illness Protector Benefit
  • Disability Shield Benefit
  • Income Plus Benefit

e–Term Plan (Pros)

  • Accident Shield Benefit
  • Income Replacement Benefit
  • Disability Shield Benefit

e–Term Plan (Cons)

  • No HIV Cover
  • No Policy Loans
  • No Pre-existing Conditions

e–Term Plan (Other Benefits)

  • Marriage Cover
  • Accidental Death
  • Accidental Total and Permanent Disability

e–Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 55 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - 80 yrs
  • Premium Payment Term - SP

Life Insurance Articles

Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.