Setting its eye on the growing internet users, Aegon Religare Life Insurance today launched iTerm Plan offerring it exclusivley online to its customers.
"It is the cheapest term plan currently available in the maket, making it the most attractive product", the company's CEO Rajiv Jamkhedkar told a news conference here.
India had a total internet base of over 60 million with a record e-commerce transaction amounting to Rs 1,800 crore in 2008, Jamkhedkar said.
Aegon Religare iTerm Plan was a pure protection insurance plan, wehrein a customer is required to pay yearly premiums till the maturity of the policy, Yateesh Srivastava, chief marketing officer said.
Aegon Religare achieved Rs 100 crore annualised premium last month which marked the 13th month operation in the country, he said.
Religare which had entered into a JV with Aegon, one of the world's largest insurance company, has 52 offices in 17 states in the country with 1,600 employees.