Aegon Life Insurance Facts, Benefits Online

Author: Yash Sharma

Aegon Life Insurance Company is currently one of the world’s leading insurance providers. It has been operating in India since the year 2008. Within a decade the company has achieved its popularity and reputation through its great services in the insurance industry of India. Aegon Life offers a wide choice of insurance products, which includes pure life insurance plans, term plans, savings instruments, unit-linked policies, retirement solutions, group policies and so on, for various ranges of customers. Customer satisfaction and convenience are the two major concerns of this company. Besides, Aegon Life also offers online plans to maximize the comfort of customers.

Why Choose Aegon Life Insurance Company?

  • Aegon Life offers extensive cover up to the sum of?1crore.
  • It provides a wide variety of products to meet the insurance requirements of different customers.
  • Apart from life insurance cover, the company also offers investment devices policies with its unit-linked insurance plans.
  • The plans which offer a dual solution of investment and protection provide great returns with comprehensive coverage.
  • Since customer satisfaction is the key objective of the company, Aegon Life shows fast and effective 100 per cent grievance solution rate.
  • It shows high claim settlement ratio. A high percentage of claim ratio ensures that a higher number of claim are accepted and paid out by the company to the customers.
  • Insurance products offered by Aegon Life Insurance are eligible for tax benefits under Sec. 10(10D) and 80C of Income Tax laws.

Benefits of Buying Online Aegon Insurance Plans

Aegon Life Insurance provides a whole range of insurance products at its online portal for the comfort of customers. Almost all types of insurance plans, such as pure life term plans, unit-linked policies, savings plans and health insurance plans, are being offered online by the company. Some of the key benefits of online Aegon insurance plans are:

  • Cost Efficiency – One of the major differences between buying an insurance plan online instead of purchasing it offline is its cost-effectiveness. Usually, the insurance plans bought online costs cheaper than the same plans bought offline. Online policies need only a little administration. As a result, the premiums are also low.
  • Convenience – Online insurance plans are easier to buy and simpler to maintain. You do not need any intermediary to buy insurance from the online portal of Aegon Life Insurance. Maintenance of the policies and premium payments, everything can be done online from home.
  • Safety – Regarding transactions, online insurance plans are safer than the insurance policies bought offline. In the case of online insurance plans, you make a direct transaction with the company officials.

Various Types of Aegon Life Insurance Plans

1. Aegon Term Plans – Term insurance plans ensure your family’s financial support in case of the demise of the policyholder. It provides great monetary protection by paying a considerably small amount of premium for a limited time period. Some of the best term insurance plans offered by Aegon Life are:

  • Aegon Life Term Insurance Policy
  • This life term plan offers twin death benefit choices – i) receive the complete assured amount on the demise of the policy owner, or ii) receive 50 per cent of the total assured amount immediately after the demise of the insured and the remaining amount in monthly installments.
  • The plan offers add-on facility like benefit on accidental death.
  • Easy Protect Plan of Aegon Life Insurance
  • This plan offers easy premium payment facility through credit cards via mobile phone.
  • In case of death of the policy owner, the policy will pay?10,000 to the beneficiary for the next 10yrs in monthly installments.

Aegon Life also offers some of the best online term insurance plans for the customers:

  • iTerm Insurance Policy of Aegon Life
  • This online term plan provides benefit in case the insured person is diagnosed with any terminal disease. It pays out 25 per cent of the total assured amount to the insured.
  • It offers choices in premium payment mode. You may choose to pay a lump sum amount in single premium or choose to pay regular premiums.
  • iSpouse Insurance Policy by Aegon Life
  • This online plan provides comprehensive coverage to both spouses.
  • Lump sum death benefit is paid on the demise of either of the spouses.
  • Monthly installments are paid for 5 years on the death of one of the insureds.

2. Unit Linked Insurance Plans for Aegon Life Insurance – Aegon Life offers investment devices to its customers through unit-linked policies which serve dual purposes. It provides life cover along with an opportunity to build up the corpus.

  • Future Protect Plan of Aegon Life
  • The plan offers you to take part in the profit-making. It depends upon the market performance.
  • It allows the assured amount to be ten times of the annual premium if the policy runs for below 45 years and seven times of the annual premium if the policy runs for above 45yrs.
  • The policy pays both death benefits and maturity benefits.
  • Future Protect Plus Plan of Aegon Life Insurance
  • The invested amount is balanced within the plan automatically.
  • It allows the assured amount to be ten times of the annual premium if the policy runs less than 45 years.

Apart from the regular unit-linked insurance plans, Aegon Life also offers online unit-linked plans:

  • Aegon iMaximise Insurance Policy
  • This online unit linked plan allows the assured amount to be ten times of the annual premium of the policy.
  • The policy does not charge premium allocation fees.
  • It allows single payment and three investment fund choices to the insured.

3. Savings Insurance Plans of Aegon Life Insurance – Aegon Life offers various savings plans which allow you to build up a corpus for your future requirements. Some of the best savings policies are:

  • Regular Money Back Policy of Aegon Life
  • This savings plan offers regular money back facility to the insured by paying out premiums for 20 years.
  • The policy allows various premium payment options and offers loan to the insurance holder.
  • Jeevan Shanti Policy of Aegon Life
  • The age of the policy seeker decides the assured amount in this policy.
  • The policy offers dual benefit – life coverage and savings for the future – by paying out premiums for only ten years.
  • It offers lump sum benefit at the time of maturity of the policy.
  • Guaranteed Growth Insurance Policy of Aegon Life Insurance
  • Maximum assured sum to be ten times of the annual premium paid.
  • The plan offers a guaranteed return by paying out a premium for 10 years.

Aegon Life offers online savings insurance policies for the convenience of insurance seekers:

  • Aegon iGuarantee Insurance Policy
  • This online savings plan allows you to build up wealth by paying out a premium for only six years.
  • The plan offers definite return benefit during the policy term of six years.
  • The maximum assured amount allowed by the policy is ten times the annual premium.

4. Aegon Life Insurance Retirement Solution – Aegon Life provides ultimate pension solution plan that helps to accumulate enough corpus for your retirement days.

  • Insta Pension Insurance Plan of Aegon Life
  • Insta Pension policy provides an instant pension solution to meet your primary needs during superannuation.
  • It offers regular income as soon as you enter your retirement.
  • Minimum age at the time of entry should be 50 years and maximum age of the insured could be 75 years.
  • The pension amount can be received annually or in monthly installments.

5. Aegon Life Rural Insurance Policy – Being one of the leading insurance companies Aegon Life offers term insurance plans for rural customers.

  • Rural Term Policy of Aegon Life
  • This term plan comes along with 5 year policy term.
  • The policy offers the maximum assured amount to be 50 times of the annual premium of the policy.
  • The plan does not offer any maturity benefit to the insurance holder.
  • The death benefit is paid to the beneficiary of the insured at the death of the policyholder.
  • Surrendering of policy is possible after completion of 1 policy year.

6. Group Policies of Aegon Life Insurance – Apart from life cover and investment policies, Aegon Life also offers group insurance policies.

  • Group Credit Life Policy of Aegon Life
  • The plan offers maximum assured amount to be?50 thousand.
  • It offers a term of the policy – 24 months for single pay, 60 months for regular pay and 90months for limited pay.
  • The policy provides benefits such as decreasing assured sum and level assured sum.
  • The death benefit is received by the beneficiary.
  • Group Gratuity Policy of Aegon Life
  • As the name of the plan suggests, the policy offers a gratuity to the policyholders.
  • Maximum sum to be assured is?1,000.
  • The plan proposes multiple investment devices in equity and group debt funds.
  • It also allows switching between the funds.
  • Group Term Insurance of Aegon Life Insurance
  • The maximum assured amount offered by the plan is?5,000.
  • It offers 1 year renewable policy term.
  • The plan allows the flexibility of including and excluding members in the plan each month.
  • Premiums could be paid monthly, quarterly, semi-annually or annually.
  • Death benefit is paid to the beneficiary of the insured at the time of demise.

Since mishaps could happen anytime to anyone; it is always wise to stay prepared with insurance protection cover. Be it a life cover plan or money-saving policy, Aegon Life Insurance Company provides some of the best insurance covers in India.