Compare Aegon Life Insurance Plans

Aegon Life Insurance Company

Aegon Life Insurance Company

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.

Company Performance

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.

Key Advantages and Features

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.

Types of Products

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

Child Plans
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

Pension Plans
1. Aegon’s Guaranteed Income Advantage Plan- payout of 7.5% of the total sum assured till the age of 85 years

Rural Plans
1. Aegon’s Rural Term Plan- low cost insurance plan for rural people to meet their insurance needs

Product Plans Details

Below are the details of Life Insurance’s best plans

Life iTerm Insurance Overview

iTerm by Aegon Life Insurance
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

Benefits

  • Life Cover- in the event of the demise of the policy holder, an amount equivalent to sum assured is given to nominee
  • Policy is eligible for Tax exempt benefits
  • Advance payment up to 25% of the total sum assured in the event of a critical ailment
  • Policy is eligible for Surrender benefits

Eligibility

  • Entry age for the coverage from 18 years to a maximum age of 65 years.

Life iReturn by Aegon Life Insurance

Life iReturn Insurance Overview
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

Benefits

  • Life Cover- the event of the demise of the policyholder is covered and an amount equivalent to sum assured is provided to nominee
  • Premium return- premium paid is returned after maturity of the cover
  • Policy is eligible for Tax exempt benefits
  • Policy is eligible for Surrender benefits

Eligibility

  • Entry age for the coverage from 18 years to a maximum age of 65 years.

Life iSpoue by Aegon Life Insurance

Life iSpoue Insurance Overview
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

Eligibility

  • Entry age for the coverage from 21 years to a maximum age of 60 years.

Flexi Money Back Advantage by Aegon Life Insurance

Flexi Money Back Advantage Insurance Overview
Entry Age 7 Years
Maximum Entry Age 65 Years
Advantages Loan available against policy
Tax benefits
Survival benefit
Maturity benefit
Sum Assured 1 lakh

Eligibility

  • Entry age for the coverage from 7 years to maximum age of 60 years.
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