Life insurance is one of the most important financial products in your life and it is important to have it. Life insurance is a way to protect your financial future and the future of your loved ones. Life insurance provides monetary benefits to the policyholder in case of death. People can get their life insurance policy at a much cheaper rate and with better terms. There are many life insurance companies in the marketplace, so you should compare your options before making a decision.
In this article, we compare Aegon Life Insurance Vs HDFC Life Insurance. We will compare the two companies on their coverage, pricing, and claims handling. We will also go into detail about the different types of policies offered by these companies and what they cover. Many factors go into the decision of which life insurance company to choose. Take a look at the Aegon Life Insurance Vs HDFC Life Insurance comparison.
HDFC Life Insurance and AEGON Life insurance are two top-notch life insurance providers in India. They offer different types of policies and services. Both these companies are strong and reliable when it comes to providing life insurance solutions to their customers. They both have their pros and cons when compared to each other. Let’s look at the company’s features, benefits, claim settlement ratios, and others individually.
AEGON Life Insurance
Aegon life insurance is one of the best life insurance companies in India. It was the first life insurance company to inaugurate online term insurance plans in India. The 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 Ltd is dedicated to our customers securing their long-term financial future. With a recent global study approximate 92% are under insurance for household, education, and plans, etc. AEGON is performing to help its customers achieve healthy and financial security.
Aegon Life Insurance Benefits
Aegon is a life insurance company that offers different types of plans and benefits to its customers.
- 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.
- 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.
- Aegon life insurance plans offer maturity benefits, in-built assured with money-back and cash-back maturity values.
- Aegon Life insurance helps savings and gives protection to long-term financial payments.
- According to section 80c of the Income Tax Act, 1961 premiums are paid through a life insurance policy.
AEGON Life Insurance Plans List
| Type of Plans |
AEGON Life Insurance Plans |
| Term Insurance Plans |
- Aegon Life Saral Jeevan Bima Plan
- Aegon Life iTerm Insurance Plan
|
| ULIPS Plans |
- Aegon Life iInvest Plan
- Aegon Life iMaximize Plan
|
| Retirement Plans |
- Aegon Life Saral Pension Plan
- Aegon Life Jeevan Riddhi Insurance Plan
- Aegon Life Insta Pension Insurance Plan
|
| Savings Plans |
- Aegon Life POS Guaranteed Return Insurance Plan
|
| Money-Back Plans |
- Aegon Life Regular Money Back Insurance Plan
|
| Group Plans |
- Aegon Life Group Credit Shield Insurance Plan
- Aegon Life Group Term Plus Insurance Plan
|
| Other Plans |
- Aegon Life Rural Term Insurance Plan
- Aegon Life Covid-19 Insurance Plan
- Aegon Life Critical Illness Insurance
- Aegon Whole life insurance
|
HDFC Life Insurance
HDFC Life Insurance Company Limited is a standard life insurance company supporter of housing development Finance Corporation limited. It is a joint venture between HDFC Ltd and standard life Aberdeen, a global investment company. HDFC Life insurance company is a leading long-term life insurance provider established in 2000, the company proposes individual and group insurance solutions that meet policyholders’ requirements as investment, savings, pension plans, protection, health, etc.
HDFC Life Insurance Benefits
HDFC Life Insurance provides a wide range of benefits to its customers.
- HDFC Life Insurance Company provides a wide range of plans to their customers such as term insurance plans, Savings plans, Investment plans, Pension plans, Health plans, Child plans, etc. So, you can choose the plan which suits your requirements.
- HDFC Life Insurance plans are specially designed to fulfill your requirements at an affordable price.
- HDFC Life Insurance Company provides its customers with high-class services and it has a robust customer care service that is available to its customers 24X7.
- The critical illness covers you with 19 illnesses that will secure your family against the loss of income due to any illness diagnosed.
- To ensure your financial protection for the family when you are not around with a life cover up to 99 years at affordable premiums.
HDFC Life Insurance Plans List
| Type of Plans |
HDFC Life Insurance Plans |
| Term Plans |
- HDFC Life Click 2 Protect Life
- HDFC Life Saral Jeevan Bima
|
| Savings Plans |
- HDFC Life Sanchay Plus
- HDFC Life Sanchay Par Advantage
- HDFC Life Sanchay
- HDFC Life ClassicAssure Plus
- HDFC Life Super Income Plan
- HDFC Life Sampoorn Samridhi Plus
- HDFC Life Uday Plans
- HDFC Life Pragati Plans
|
| ULIP Plans |
- HDFC Life Click 2 Wealth
- HDFC Life Click2Invest ULIP
- HDFC Life ProGrowth Plus
- HDFC SL ProGrowth Super II
- HDFC SL Crest
- HDFC SL ProGrowth Flexi
- HDFC Life Smart Woman Plan
- HDFC Life Pragati Plans
- HDFC Life Sampoorna Nivesh
- HDFC Life Classic One
- HDFC Life Capital Shield
|
| Pension Plans |
- HDFC Life New Immediate Annuity Plan
- HDFC Life Click 2 Retire
- HDFC Guaranteed Pension Plan
- HDFC Life Personal Pension Plus
- HDFC Life Assured Pension Plan
- HDFC Life Saral Pension
|
| Guaranteed Income Plans |
- HDFC Life Click 2 Wealth
- HDFC Life Click 2 Retire
- HDFC Life Youngstar Udaan
|
| POS Plans |
- HDFC Life Guaranteed Savings Plan
|
| Combo Plans |
- HDFC Life Sanchay Maximiser
|
Comparison Table of AEGON Life Vs HDFC Life Insurance
Here are some of the key parameters based on which they differ from each other:
| Parameter |
HDFC Life Insurance |
AEGON Life Insurance |
| Claim Settlement Ratio |
98.66%. |
98.01% |
| Solvency Ratio |
1.91 |
2.39 |
| Availability |
Online/Offline |
Online/Offline |
| Life Cover |
Up to 99 years |
Up to 99 years |
| Number of Branches Available |
421 |
83 |
| Types of Plans |
- Term Plans
- ULIP Plans
- Savings Plans
- Child Plans
- Health Plans
- Pension Plans
- POS Plans
- Combo Plans
|
- Term Insurance Plans
- ULIP Plans
- Savings Plans
- Retirement Plans
- Money Back Plans
- Group Plans
|
| E-services |
- Update Information
- Claim
- Renew/Revive Policy
- Buy Policy
- Pay Premiums, etc.
|
- Pay Premium Payment
- Claim Settlement
- Renew Online
- Buy Policy Online
- Track Policy
|
| Riders |
- Critical Illness Plus Rider
- Accidental Disability Rider
- Income Benefit Rider
- HDFC Life Protect Plus Rider
|
- Critical Illness Rider
- Accidental Death Benefit Rider
- Waiver of Premium Rider
|
Comparison of AEGON Term Insurance vs HDFC Term Insurance
Term insurance is a type of life insurance plan. It is an important financial product because it provides coverage for your family in case of an untimely death. You should be aware that there are various types of term insurance and you should know what they can offer you. Both AEGON life insurance and HDFC life insurance provide the best term insurance plans so, it is difficult to say which one is better but you can compare some parameters to choose the best term insurance plan. While comparing the two, it is important to understand what each plan covers and how they differ in terms of coverage. This will help one make an informed decision when choosing the right term insurance plan for them.
Comparison of Best Term Insurance Plans Offered by HDFC Life vs AEGON Life Insurance
| Plan Name |
HDFC Click 2 Protect Life Plan |
AEGON Saral Jeevan Bima Plan |
| Entry Age |
25 years |
18 years |
| Benefits |
Basic life cover due to death benefit, Life cover & Critical illness cover, and life cover & Regular income. |
Easy to understand, suitable for all, lump sum pay-out, additional benefits on Accidental death rider. |
| Sum Assured |
Rs. 25 lakhs No maximum limit |
Rs. 5 lakhs to Rs. 25 lakhs |
| Premium Payment Frequency |
Monthly, quarterly, half-yearly, and yearly. |
Monthly, quarterly, half-yearly, and yearly. |
| Max Coverage |
85 Years |
70 years |
| Death Benefit |
Yes |
Yes |
| Tax Benefits |
Yes |
Yes |
| Riders |
Wavier of Premium Rider,
Critical Illness Rider,
Accidental Disability Rider
Accidental Death Benefit Rider |
Accidental Death Benefit Rider
Critical Illness Rider |
Conclusion
In the case of life insurance, the choice can be a little tricky. Different people have different preferences in terms of the type of coverage they want to get. If you have a family, it is important to make sure that you have enough coverage for your loved ones. The first thing that you should do is take a look at the coverage that each company offers and then compare them with each other.
AEGON Life Insurance and HDFC Life Insurance are two of the most popular life insurance providers in the market today. They offer different coverages and benefits that make them attractive to potential customers. The difference between these two companies is their approach to customer service, pricing, and coverage. The choice between these two companies can depend on your preferences for customer service or price, or your needs for coverage options.
In order to make a better decision, you should make sure that you have all the information about life insurance companies available in the market. However, this decision has become much easier with the help of PolicyBachat. To buy the best life insurance policy compare life insurance quotes at Policybachat and know all the key features and benefits of AEGON Life Insurance and HDFC Life Insurance.