About Aegon Life Insurance Company

Aegon Life Insurance Company Limited (formerly Aegon Religare Life Insurance Company Limited) commenced its pan-India operations in July 2008.

Aegon's original roots go back 170 years to the first half of the nineteenth century. Over a period of time, Aegon has grown into an international company. Today, Aegon businesses have spread in more than 20 countries in the Americas, Europe, and Asia. In the US, Aegon is a leading market and operates under the Transamerica brand. It has become one of the world's leading financial services organizations, providing life insurance, pensions, and asset management. With around 29,000 employees worldwide, it has 723 billion Euros of revenue-generating investments.

Aegon, an international provider of life insurance, pensions and asset management and Bennett, Coleman & Company, India's leading media conglomerate, have come together to launch Aegon Life Insurance. This joint venture has the combination of a local approach along with the power of global expertise to launch products that are focused on providing customers to meet their long-term financial goals. The company has its headquarters in Mumbai and has a growing customer base of over 4.4 lakh customers across India.

Types of Aegon Life Term Insurance Plans

Aegon Life iTerm Insurance Plan

Aegon Life iTerm Insurance Plan

This plan can be bought through the website. The features of this plan are mentioned below:

The minimum entry age is 18 years and maximum age is 65 and the maturity age is 75 years
You can buy this plan online through the company's website.
In case the insured gets diagnosed with any terminal illness, then 25% of the sum insured is paid immediately.
Tax benefits under Section 80C (Up to Rs. 1.5 Lacs) and 10(10D) of the Income Tax Act is provided if the premiums are paid on time.
Under the Single Pay option, the premiums can be paid in lump sum or can be paid for the entire duration under the Regular Pay option.

Riders

Aegon Life AD Rider - It covers accidental death of the insured
Aegon Life WOP Rider on Critical Illness - Offers coverage for 4 critical illnesses such as Stroke, Cancer, Open Chest CABG and first Heart Attack. In case the insured is diagnosed with these critical illnesses, then the future premiums are also waived off.
Aegon Life iCI (Critical Illness) Rider – Offers coverage for 4 critical illnesses such as Stroke, Cancer, Open Chest CABG and first Heart Attack. The sum assured is paid on diagnosis of these illnesses.
Aegon Life Women CI Rider – A certain amount of the sum assured is paid if the insured is diagnosed with any critical illnesses pertaining to women.
Aegon Life iDisability Rider – A lump sum payment on disability of the insured due to a sickness or accident. Premiums of the base plan are also waived off on occurrence of disability.

Aegon Life Term Insurance Plan

Aegon Life Term Insurance Plan

This plan offers dual benefit. The features are mentioned below:

The minimum entry age is 20 or 30 years and maximum is 65 years and maturity age is 75 years.
This is a dual death benefit plan under which a complete sum assured is paid in the first option and in the second option after death of the insured, the insurance company pays 50% of the total sum assured immediately to the nominee of the insured and the remaining amount is paid monthly as a regular income at 3%.
Offers an inbuilt rider of Accidental death benefit wherein an additional sum assured is paid only during accidental death of the insured.
Tax Benefit under Section 80C (Up to Rs. 1.5 Lacs) and 10(10D) of the Income Tax Act for premiums paid and for any claim received.

Riders

Aegon Life CI Rider – In case the insured is diagnosed with any critical illnesses (As listed in the policy document), then the sum assured is paid immediately to the insured only if covered by the rider.
Women Care Rider - A part of the sum assured is paid if the insured is diagnosed with any critical illnesses like malignant cancer of female organs. Here, 5% of base sum assured subject to minimum of Rs.1 lakh and maximum of Rs.10 lakh.. The other part also covers birth of child with congenital disorders/ surgeries, pregnancy complications etc. Here, 2.5% of base sum assured subject to minimum of Rs.50, 000 and maximum of Rs.5 lakh.
Total and Permanent Disability Rider – Here, the sum assured is paid to the insured if diagnosed with a total and permanent disability.
Premium Shield Rider – If the insured suffers permanent disabilities, then the premium shield rider would pay off the future premiums under the base plan. However, the permanent disabilities should be due to accident or sickness only.

Aegon Life iReturn Insurance Plan

Aegon Life iReturn Insurance Plan

This plan offers a return of premium option on maturity of the term plan. The features are mentioned below:

The minimum entry age is 18 years, maximum is 65 years and maturity age is 75 years.
Here, the premiums paid by the insured are paid back on maturity of the term plan.
In case of death of the insured, the sum insured is paid to the nominee.
Offers liberty to pay premiums regularly or lump sum or for a limited term of 5 years.

Riders

Aegon Life AD Rider - It covers accidental death of the insured
Aegon Life WOP Rider on Critical Illness - Offers coverage for 4 critical illnesses such as Stroke, Cancer, Open Chest CABG and first Heart Attack. In case the insured is diagnosed with these critical illnesses, then the future premiums are also waived off.
Aegon Life iCI (Critical Illness) Rider – Offers coverage for 4 critical illnesses such as Stroke, Cancer, Open Chest CABG and first Heart Attack. The sum assured is paid on diagnosis of these illnesses.
Aegon Life Women CI Rider – A part of the sum assured is paid if the insured is diagnosed with any critical illnesses like malignant cancer of female organs. Here, 5% of base sum assured subject to minimum of Rs.1 lakh and maximum of Rs.10 lakh.. The other part also covers birth of child with congenital disorders/ surgeries, pregnancy complications etc. Here, 2.5% of base sum assured subject to minimum of Rs.50, 000 and maximum of Rs.5 lakh.

Aegon Life iIncome Insurance Plan

This plan promises a monthly income benefit. The features of the plan are mentioned below:

The minimum entry age is 25years, maximum is 50 years and maturity age is 60 years.
On death of the insured, a lump sum amount is paid to the nominee post that, a monthly amount is paid for 5 years or till 60 years whichever is later.
Offers both death and disability benefit. In case of disability, all the future premiums are waived off, but the monthly benefit yet continues.
Available online for purchase
Tax Benefit under Section 80C (Up to Rs. 1.5 Lacs) and 10(10D) of the Income Tax Act for premiums paid and for any claim received.

Riders

Aegon Life WOP on Critical Illness Joint Life Rider - Offers coverage for 4 critical illnesses such as Stroke, Cancer, Open Chest CABG and first Heart Attack. In case the insured is diagnosed with these critical illnesses, then the future premiums are also waived off.

Aegon Life iSpouse Insurance Plan

Aegon Life iSpouse Insurance Plan

This plan covers both husband and wife under the same plan. The features are mentioned below:

The minimum entry age is 21 years, maximum is 60 years and maturity age is 65 years.
Available online for purchase
Offers single coverage to both husband and wife under the same plan.
A lump sum amount is paid either to the surviving spouse or to the nominee, in case of death of the insured.
A regular monthly income is paid for up to 5 years after the demise of the insured.
Inbuilt Accident benefit rider that offers an additional sum assured in case of accidental death of the insured.
Inbuilt Terminal illness rider that offers 25% of the sum assured in lump sum if diagnosed with any terminal illness

Riders

Aegon Life WOP on Critical Illness Joint Life Rider - Offers coverage for 4 critical illnesses such as Stroke, Cancer, Open Chest CABG and first Heart Attack. In case the insured is diagnosed with these critical illnesses, then the future premiums are also waived off.

Exclusions of Aegon Life Insurance

The claims would not be admitted under the below exclusions:

Suicide- If the insured commits suicide within the first year of the plan, then 80% of the premium paid till date is given to the nominee
Accidental death – Accidental death due to consumption of alcohol, drugs, acts of crime, war, participation in any dangerous sports, service in armed forces, self-inflicted injuries etc.

Aegon Life Term Insurance Plan

Expert Advice

We answer all your queries and help you select the perfect Aegon life term plan that best suits your needs.

Right Coverage at Low Price

Our endeavour is to provide you the right financial coverage and that too at an affordable premium.

Free Nominee Assistance

Our Nominee Assistance package offers free claims assistance, financial , psychological & legal counselling.

Benefits of Aegon Life Term Insurance Plan

Terminal Illness Coverage

Terminal illness benefit which will provide guaranteed sum in case of a terminal illness.

Lifestage Protection

Option to increase your life coverage as per the increasing life stage requirement needs.

Extended Coverage

Option of Life Coverage upto the age of 80 years.

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Frequently Asked Questions

Q. In an unfortunate event of your death, how can your nominee claim your Aegon Term plan?
- If you have invested in a Term Plan, it is advisable to keep your nominee aware of the situation so that if and when the time comes, he/she can claim the policy for which you have been shelling premium every year. To make the claim, the following steps need to be taken:
  - Every insurance company has a pre-set procedure defined for making a claim. Hence, following your death (and yeah, even though it sounds scary!), your nominee has to intimate the insurance company of the same.
  - All necessary documents including Claim Form, Death Certificate, original policy documents, hospital and medical records and bank account details of the nominee, etc. are to be submitted to the insurance company for further processing.
  - Always prefer to communicate with the insurance company through written medium like an email to maintain a track of your conversation. You never know when it might come in handy (though we hope it doesn't).
Q. I am already registered under the Group Insurance Scheme. Shall I still buy Aegon Life Term Insurance?
- Yes, it is imperative to buy an individual term plan from Aegon inspite of having registered under the Group Insurance Scheme because of the below:
  - The sum assured would be too less under the Group Insurance Scheme
  - You may not be insured in case you plan of quitting your current employer
  - You would pay a higher premium in case you buy an individual term insurance at an older age
Q. How safe is to make the payments online if I wish to buy the term insurance plan from Aegon?
- Every transaction made online is safe and secured under Aegon Life Insurance. The company has taken initiative to protect every transaction by Secured Socket Layer (SSL) technology which is handled by VeriSign. This is a leading encryption technology. This process takes the details of your debit/credit card and converts the information into bits and pieces of code, which are further transmitted securely over the internet. No one can read this data since it actually travels over the Internet. Besides, Aegon Life ensures to save no information of the debit/credit card and netbanking information of their customers.
  
  So, it is absolutely safe to make premim payments online if you wish to buy Aegon life term insurance plan.
Q. Why should I opt for the Return of premium term plan from Aegon Life?
- This plan is suitable for a working individual especially having dependents. You would get a good sum assured at a lower cost and can safeguard your family from your untimely death. If you die within the policy period, the sum assured is paid to your nominee as per the policy terms and conditions. But, if you outlive the policy, the insurance company would pay you the premiums paid at the end of the policy period.
Q. Give some information about the Aegon Life iDisability Rider?
- The Aegon Life iDisability Rider will pay a lump-sum benefit under the rider. Additionally, it will also waive off the balance premiums under the base plan in case you suffer permanent disability due to sickness or accidents. This rider enhances your base policy by providing additional benefits.

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About Aegon Life Insurance Company

Types of Aegon Life Term Insurance Plans

Exclusions of Aegon Life Insurance

Aegon Life Term Insurance Plan

Benefits of Aegon Life Term Insurance Plan

Compare Aegon Life Term Insurance Plan with 6+ Brands

Explore Term Insurance

Frequently Asked Questions

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