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AEGON Life Insurance Company Limited

AEGON Life is one of the top digital life insurance companies; it was the first life insurance company to inaugurate online term insurance plans in India. AEGON Life insurance was launched together with AEGON N. V, an international provider of life insurance, pensions, and asset management, and Bennett Coleman & Company, India's largest media conjunction popularly known as the Times Group.

AEGON Life Insurance Company

Aegon life insurance company is headquartered in Mumbai, India, and has more than 3 Lakh customers. They operate in over 20 countries, including the United States, where they are known as Transamerica. Their head office, however, can still be found in The Hague, the Netherlands.

AEGON Life insurance company is dedicated to our customers securing their long-term financial future. With a recent global study approximate 92% under insurance are of household, education and future plans, etc. AEGON is performing to help their customers achieve healthy and financial security.

At AEGON Life insurance, you can rest assured knowing that you and your family’s unique needs are being taken note of and fulfilled. Here are some of the insurance products that AEGON Life insurance offers that will help you with what you need to keep your loved ones protected. As per the IRDAI report, the claim settlement ratio of AEGON Life insurance is 98.01%.

Benefits of Buying AEGON Life Insurance Policy:

  • Savings & Loan Facility: Aegon life insurance is long-term savings and insurance is made mandatory by IRDAI to ensure the safety of the policyholders. The unfortunate financial obligations are covered by a life insurance policy that helps needy people.
  • Risk Cover: Life is full of uncertainties and problems which will be covered with life insurance coverage to protect your family from risk factors.
  • Guaranteed Income: When you are decided to retire and want to earn after that life insurance is the best policy to save money when you earn at a young age and enjoy when you retired.
  • Investment Benefits: Aegon life insurance plans offer maturity benefits, in-built assured with money-back and cash-back maturity values. Investment benefits such as retirement plans, child insurance plans, whole life insurance plans, etc.
  • Wealth Creation & No Risk: Aegon Life insurance helps savings and gives protection to long-term financial payments. Income from investment in life insurance products
  • Tax Benefits: According to section 80c of the Income Tax Act, 1961 premiums are paid through a life insurance policy. Financial implements such as Employee Provident Fund, Equity Linked savings, and health insurance premiums, etc.
  • Life Insurance Calculator Aegon Life insurance company calculator helps you decide what insurance premium you should be paying and for how long to get the payout or sum assured from the term policy that you desire.

Types of AEGON Life Insurance Plans:

1.) AEGON Life Insurance Term Plans:

The main role of Aegon Life insurance online term insurance is providing safety measures to your family or loved ones when you are not around, the premiums paid on the Aegon term insurance policy exclude the income tax act under section 80c. The maturity amount or claim is excluded under section 10(10D) and can benefit from tax exemptions on the sum assured and accrued bonus.

  • Coverage: In Aegon, life insurance Term Plans policyholders can get a life full of coverage.
  • Sum Assured: Sum Assured receives the insurer’s death upon the plan.
  • Premium: Term Insurance Plans premiums are low compared to all other plans.
  • Savings/Profit: Savings or Profits are not received.
  • Maturity Benefits: There are no maturity benefits or payouts available.

Key Features of a Term Insurance Plan:

The term insurance plan is to provide coverage for a family in times of enforcement when the revenue-producing activities are absent. The primary thing is to keep the family stable and happy and ensure they can meet basic expenses and fulfill their dreams.

  • Cost-Effective: Aegon life insurance Term plans provide affordable and cheapest premiums compared to life insurance plans.
  • Adjustable Cover: You can adjust your sum assured to get financial changes in life.
  • Easy Payment: You can pay your premiums monthly, quarterly, or yearly as per your needs.
  • Riders: The benefits of riders or variants with the return of premium as per term plan.
  • Easy Purchase: Every person can buy the plans online or offline at their convenience.
  • Eligibility: Aegon life insurance eligibility includes Entry age, Maturity age, Sum assured, Policy term, and premium payment term.

Types of Term Insurance Plans:

i. AEGON Life Saral Jeevan Bima:

Jeevan Bima is a non-linked individual risk Aegon life term insurance plan that secures financial protection to the family, in case of the death of the insured person during the policy term. During a waiting period of 45 days or expiry of the waiting period in case of any accidental death or any other issues, the amount is payable.

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
18 to 65 years 70 years 5 to 40 years Rs. 5 to 25 lakhs Single, regular, and limited payments available/ Yearly, half-yearly, and monthly.
ii. Covid-19 Insurance Plan:

Aegon Covid insurance plan is for coronavirus-affected persons which helps in clearing some amount given to the hospitalization. The term plan comes with various Life Cover options. AEGON Life iTerm Insurance Plans also cover COVID-19 death claims along with other 36 critical illnesses like cancer, heart disease, etc.

Why Covid-19 Insurance?

Life Insurance with COVID-19 insurance Cover supports the customer by covering hospitalization amount of up to Rs 5 Lakh on a minimum of 24 hours of admitting on the first-ever diagnosis of COVID-19 condition along with death benefit from the life cover. In case of death, one can avail of the life benefit through the base plan, which will help in supporting the insured's family.

  • Hospitalization Payout up to 5 lakhs
  • No Medical Tests needed
  • Instant Digital Policy and hassle-free service
  • Death Cover is to the nominee in the sudden death of the policyholder
  • Tax Benefits are paid as per Aegon life insurance premium calculator yearly.
  • Continue Protection even after covid relief
iii. Critical Illness Insurance:

AEGON Life insurance critical illness plan is an additional rider. In case of the policyholder’s death, this insurance policy pays an assured death benefit. However, if the policyholder is diagnosed with any of the 36 critical illnesses specified under the policy terms, they are paid an upfront lump sum amount to ease the financial burden of medical treatment and other related costs.

  • Protection against 36 life terrifying critical illness cover
  • No need to step out of your house for medical tests
  • Instant Digital Policy and hassle-free service
  • Provides financial protection and peace of mind.
iv. iTerm Insurance Plan:

AEGON Life iTerm Insurance Plan is an inexpensive protection plan with an add-on to choose from 3 different plan options basis your protection needs. The best thing about this plan is that you can get an additional payout on diagnosis of 36 Critical Illnesses including cancer, heart attack, and kidney failure. AEGON Life iTerm insurance plan also covers Covid-19 death claims.

  • iTerm Life Protect Plan: Life coverage, 100% payout on Terminal illness, and Increase life cover.
  • iTerm Protect Plus plan: Life Cover increases by 5% every year without an increase in premium and 100% payout on terminal illness.
  • iTerm Dual Protect plan: Life cover, 100% payout on terminal illness, and regular monthly income starting from 60 years of age till maturity.
v. AEGON Life Rural Term Insurance Plan:

This AEGON Life Rural Term Insurance Plan is a single premium term insurance plan. So you can enjoy the benefits of staying covered for 5 years by making just one payment.

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
18 to 45 years 50 years 5 years Single premium and sum insured Single premium

2.) AEGON Life Insurance ULIP Plans:

Aegon life insurance Unit Linked Insurance Plan is to provide life insurance cover your family with equity market to invest in it and grow your money. Benefits such as fund switching, income tax, high returns in long term, life cover. The policyholder needs to carry the risk of investment.

  • Coverage: In Aegon, life insurance Unit Linked Insurance plan policyholders can get life cover and market-linked benefits.
  • Sum Assured: Get sum assured on life cover as per plan.
  • Premium: The premiums of the amount paid but deductions made for fees before unit purchase.
  • Savings/Profit: Long-term goals achieved with wealth creation.
  • Maturity Benefits: Benefit Returns depend on the market value of the funds where investments are made.

3.) AEGON Life Insurance Savings Plans:

AEGON Life insurance is a great saving and investment instrument, to improve your financial growth these plans offer specified returns when they are linked to the market.

  • Coverage: In Endowment Insurance Plans policyholders can get a life full of coverage.
  • Sum Assured: Sum assured receives upon survival.
  • Premium: Premium Payable every month, but has a shorter period as compared to whole life insurance plans.
  • Savings/Profit: Long-term goals are achieved with wealth creation.
  • Maturity Benefits: Where investments are made the returns depend on market values.

ULIP & Savings Plans:

i. POS Guaranteed Return Insurance Plan:

AEGON LIFE POS guaranteed return insurance plan is a non-linked, prevention life insurance plan which offers guaranteed returns in the form of a lump sum payout on maturity not regular income over a fixed period along with life cover for the entire policy term.

Why POS?
  • Simple savings plan
  • 100% guaranteed returns & maturity benefits
  • Loyalty boosters are equal to 25 % basic sum assured at the plan of maturity.
  • Quick policy issued within 48 hours of submission of the documents.
  • 30 day free look period to review the policy.
Entry Age Maximum Age Policy Term Sum Assured Premium Payment
1 to 50 18 to 65years 10 to 20 years Rs. 10k for yearly, Rs. 7500 for half, and 1500 for monthly. 5/7/9 years.
ii. iInvest Plan:

iInvest is an online Unit Linked Insurance Plan (ULIP) that offers both protection and investment. It works well for first-time investors and market experts alike. We invest 100% of the premium you pay, thereby helping maximize your investment.

Why iInvest?
  • Provides cover to your family financial needs in case of any demise
  • 6 unit-linked funds to choose from your investment goals
  • Higher sum assured
  • Low investment money per month
  • No deductions
  • Tax benefits on premiums paid and the amount received
iii. iMaximize plan:

This plan is the same as the iInvest plan can also pamper your child’s needs in your absence through the Triple benefit pay-out option, which provides financial stress. No allocation charges maximize the return from your investment as the full amount gets exposure to the fund of your choice.

Why iMaximize?
  • Secure your child with financial security
  • Flexibility for you to invest as per risk factors
  • Tax benefits on premiums paid and the amount received
  • Triple benefit options
  • Pays you the total fund value as on maturity date.

3.) AEGON Life Insurance Child Plans:

Aegon life insurance child insurance products ensure that child’s higher education is the most expensive thing these days. AEGON life insurance child plans make you invest in small amounts and receive regular payouts for a fixed period.

4.) AEGON Life Insurance Retirement Plans:

Aegon life insurance retirement plan that secures your family or loved ones covers your retirement plans as a savings plan to meet your retirement goals, or as an investment option to grow your wealth.

i. AEGON Life Saral Pension Plan:

AEGON Life insurance Saral Pension plan guarantees a regular income not only for you but also offers you the option to ensure the same for your spouse in your absence so that you can retire from work and not from life.

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
40 years 80 years Life-Long Coverage Rs. 1000 and Rs. 12000 per annum Monthly, quarterly, and yearly.
ii. Jeevan Riddhi Insurance Plan:

AEGON Life’s Jeevan Riddhi Insurance Plan gives you guaranteed additions on Sum Assured during the premium payment term. Moreover, Aegon life covers 50 lacs for 55 yr old women for any unfortunate event and you also get a share in the performance of the product through the regular bonus. 

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
18 to 55 years 70 years 10 to 20 years Rs. 100000 Monthly, quarterly, and yearly.
iii. AEGON Life Insta Pension Insurance Plan:

AEGON Life insurance Insta Pension Insurance Plan pays you a continuous income, post your retirement for the rest of your life.

Entry Age Maximum Age Policy Term Premium Payment
50 years 85 years 10 to 20 years Single term

5.) AEGON Life Insurance Money-back Plans:

Aegon life insurance money-back plan is helping you to get payments in period-wise. The period pay-outs differ from company to company and plans also differ. The policy provides you with a specific amount in a periodic time that will meet your financial goals.

  • Coverage: In Money-back Life Insurance Plans policyholders can get a life full of coverage.
  • Sum Assured: Sum assured payments at regular intervals as a percentage.
  • Premium: Premiums are high compared to endowment plans.
  • Savings/Profit: No
  • Maturity Benefits: Benefits are of Sum assured at regular intervals, balanced sum, and applicable bonuses. But returns are low compared to Aegon endowment due to higher premiums and lower bonuses.
i. Regular Money Back Insurance Plan:

AEGON Life’s Regular Money Back Insurance Plan provides you guaranteed pay-outs for 10 years and a life cover beyond the Premium Payment Term.

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
7 to 55 years 75 years 20 years Rs. 100000 Monthly, quarterly, and yearly.

6.) AEGON Life Insurance Whole life insurance:

Aegon whole life insurance benefits your family when something happens to you and the cash value and earn interest. If you want to make a withdrawal or take a loan on interest but withdrawals will not impact the death benefits.

  • Coverage: In Whole Life Insurance Plans policyholders can get a life full of coverage.
  • Sum Assured: Whole life insurance receives sum assured and bonuses.
  • Premium: Premiums are high due to inevitable payout and amount value build-up, but lower than savings & investment plans.
  • Savings/Profit: This life insurance plan offers savings and wealth creation on your premiums.
  • Maturity Benefits: Benefits are of sum assured and bonuses if any in the form of maturity claims or expiry premium payment and guaranteed payout.

7.) Group Credit Shield Insurance Plan:

AEGON Life insurance Group Credit Shield Insurance Plan not only provides the members of your group with a life insurance plan but also covers their outstanding loan amount so their family's financial interests are seen after in case of uncertain things.

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
1 to 18 years 65 to 75 years Single pay, regular pay, and limited Rs. 500000 for a home loan Single, Monthly, quarterly, and yearly.

8.) Group Term Plus Insurance Plan:

Aegon life group Term plus Insurance plan provides financial security need and serves as a unique way for employers or group administrators to reinforce their bond with their members. This plan provides benefits to groups such as Employer-Employee, Non-Employer-Employee, etc. This plan provides financial protection at a nominal cost.

Entry Age Maximum Age Policy Term Sum Assured Premium Payment
14 years 85 years Single pay, Regular pay Rs. 3,61,000 for home loan Monthly, half-yearly, Annually.
How to Buy AEGON Life Insurance Policy?

The process of buying AEGON life insurance policy online has become simple with PolicyBachat. For buying a life insurance plan online please visit Life Insurance and follow the below steps.

  • Step1: Enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, Salaries or Self-employed, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
  • Step2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc., and submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
  • Step3: The next step is to select the best life insurance plan and pay the premium to the insurance company before proceeding to fill the proposal form details.

AEGON Life Insurance Renewal

AEGON Life insurance renewal has never been simple as it is now. With the advent of technology, the term life insurance renewal process is simple. You can renew your life insurance policy online without worrying about the need to go to the insurance company to pay the premium. To renew your life insurance policy online please contact our agent who can assist you in the renewal process. Insurance companies send a payment link to the customer to renew the life insurance policy; once the payment is made renewal intimation will be sent to the customer. Renew term life insurance policy through multiple options using Net banking, Credit card, Debit card, UPI wallets, and bill pay online.

AEGON Life Insurance FAQ's:

How Can I Check Aegon Life Insurance Policy Details With Policy Number?

You can check Aegon life insurance policy details with policy number easily in simple steps

  • Step1: Visit the official website of Aegon Life Insurance
  • Step2: Click on the Login portal by entering the details such as register email id, mobile number, user id, etc.
  • Step3: OTP will receive the registered mobile number
  • Step4: After successful login, enter the policy number. You can check the policy details displayed on the screen.

How to Pay AEGON Life Insurance Premium Payment Online?

AEGON Life Insurance online premium payments can be done in various methods. You can pay AEGON life insurance payments online easily. Every insurance company has multiple payment options to pay premiums online using Net Banking, Credit card, Debit card, UPI wallets, and bill pay, etc. you can pay AEGON life insurance premium payment through any of the methods as per your convenience.

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