Aegon is among the global leaders in financial service organizations. They provide life insurance plans, pension plans and plans for asset management. This firm is dedicated towards building a consumer-centric business model and provides work environment which boosts innovation and excellence.
Aegon Life Insurance started its operations in India in July of 2008. It was previously called Aegon Religare Life Insurance. The headquarter for this establishment is in Mumbai. Aegon Life Insurance has a very wide service network throughout the country. They serve over 4.5 lakh consumers in India. The employee strength is over 30000 strong. They strive to ensure that people plan out their lives in a better manner. The firm has adopted a multi-channel strategy for distribution with the vision to assist people in efficient life planning. They provide many different insurance plans and are known for enhancing customer experience.
The roots of Aegon were laid down 170 years ago. Over time, Aegon has flourished as a business entity.
The business network pans out over 20 nations across the continents of North America, South America, Asia and Europe. In USA, it goes by the brand name of Transamerica.
Through the years of 2013 to 2016, Aegon Life Insurance won the E-Leader Business Award for a period of four consecutive years. This award is provided for efficient management of online channels of marketing, sales and lead generation.
The company caters to the needs of over 4.5 lakh customers across the nation.
Aegon has revenue generating investments worth 723 billion Euros.
Below is a list of the key advantages that Aegon Life Insurance has over its competitors
1. Trust- Aegon is a name you can trust. It is not a startup or a recently established venture. It has had its day in the Sun for almost two centuries
2. Grievance Redress- Aegon sets very high standards in this regard. In the 2015-2016 year, over 98% of the grievances were settled.
3. Claim Settlements- What good is an insurance plan that promises a lot but delivers nothing. Aegon Life Insurance has a very high claim settlement ratio. The ratio was over 95% for the 2015-2016 year.
4. Customer support- The company provides reliable customer assistance to its customers and prospective customers.
Life Insurance offers different insurance plans for different customer needs.
Life Insurance Plans
1. Aegon’s Life iTerm Plan- Rs one crore cover available.
2. Aegon’s Life Term Plan- monthly payout of 3% of sum assured
3. Aegon’s Life iSpouse Plan
4. Aegon’s Life Easy Protect Plan- safeguards family in the event of policyholder’s death
Life Endowment Plans
1. Aegon’s Flexi Money Back Advantage Plan- limited premium and long cover
2. Aegon’s Guaranteed Growth Plan- payout guaranteed as 150% of premium amount
3. Aegon’s Premier Endowment Plan
4. Aegon’s Jeevan Shanti Plan
1. Aegon’s Educare Advantage Plan- safeguard’s the children’s education against ups and down in the education sector
2. Aegon’s Rising Star Plan- ensures zero compromise on education
Unit Linked Insurance Plans
1. Aegon’s iMaximize Plan- ideal for gaining maximum benefits at a modest cost
2. Aegon’s iMaximize Single Premium Plan-eases the policy holder’s burden via Aegon’s a single premium payment for the entire policy term.
3. Aegon’s Future Protect Plan- provides life cover plus saves tax
1. Aegon’s Guaranteed Income Advantage Plan- payout of 7.5% of the total sum assured till the age of 85 years
1. Aegon’s Rural Term Plan- low cost insurance plan for rural people to meet their insurance needs
Below are the details of Life Insurance’s best plans
|Minimum Entry Age (years)||18|
|Maximum Entry Age (years)||65|
|Maturity Age (years)||80|
|Frequency of Premium Payment||Single payment, annual payment, bi-annual payment or monthly payment|
|Policy Term (in years)||Minimum- 5 Maximum- 62|
|Term for Premium payment||Single or policy term equivalent|
|Minimum Sum Assured||10 lacs|
|Minimum Entry Age (years)||20|
|Maximum Entry Age (years)||65|
|Maturity Age (years)||75|
|Frequency of Premium Payment||Single payment, 5 years limited payment or monthly payment|
|Policy Term (in years)||Minimum- 5 Maximum- 20|
|Maximum Sum Assured||Up to Rs 4 crore|
|Minimum Sum Assured||30 lacs|
|Minimum Entry Age||21 years for both spouses|
|Maximum Entry Age||60 years for both|
|Maturity Age (years)||65 years (either spouse)|
|of Premium Payment||Equivalent to the term of policy|
|Frequency of Premium Payment||Monthly payment or annual payment|
|Maximum Sum Assured||No ceiling limit|
|Minimum Sum Assured||25 lacs|
|Entry Age||7 Years|
|Maximum Entry Age||65 Years|
|Advantages||Loan available against policy
|Sum Assured||1 lakh|