Aegon Life Insurance: Comprehensive Coverage, Peace Of Mind

Aegon Life Insurance Company, headquartered in Mumbai, India, is a leading insurance provider in the country. It was founded in 2008 as a joint venture between Dutch multinational insurance company Aegon N.V. and The Times Group, one of India's largest media conglomerates. The company offers a range of insurance products, including term life insurance, investment plans, savings plans, healthcare plans, and group insurance. With 25 products on the market, Aegon Life Insurance caters to the diverse needs of its customers, providing easy-to-purchase solutions with a high claim settlement ratio of 99.03% in 2021-22. The company has also embraced digital transformation by leveraging cloud services to improve its infrastructure and IT capabilities, demonstrating its commitment to staying at the forefront of the industry.

Types of insurance plans offered by Aegon

Aegon Life Insurance is an Indian life insurance company that offers a wide range of insurance plans to cater to the diverse needs of its customers. The company is headquartered in Mumbai and is a joint venture between Dutch multinational insurance provider Aegon N.V. and The Times Group, one of India's largest media conglomerates. Here is a detailed overview of the types of insurance plans offered by Aegon:

Term Insurance Plans

Aegon offers term insurance plans that provide financial protection to individuals and their families at affordable rates. These plans include:

• Aegon Life iTerm Insurance Plan: A comprehensive protection plan with three variants—Life Protect, Protect Plus, and Dual Protect. It offers flexibility in choosing benefits and building a customised plan.
• Aegon Life Saral Jeevan Bima: A cost-effective term plan that allows policyholders to choose the policy term and premium payment term according to their convenience.
• Aegon Life Group Term Plus Insurance: Designed for employer-employee, non-employer-employee, and EDLI groups, offering enhanced protection with a terminal illness rider.
• Aegon Life Rural Term Insurance Plan: A single premium term plan designed specifically for rural residents, providing coverage for five years with a one-time payment.

Savings and Retirement Plans

Aegon's savings and retirement plans help individuals plan for their long-term and short-term financial goals while also providing life insurance coverage. These plans include:

• Aegon Life POS Guaranteed Return Insurance Plan (POS-GRIP): A non-linked, non-participating life insurance plan offering guaranteed returns in the form of a lump sum payout at maturity, along with life cover benefits.
• Aegon Life Saral Pension Plan: A plan that generates a regular income during retirement and offers financial security to the policyholder's spouse in their absence.
• Aegon Life Jeevan Riddhi Insurance Plan: A savings plus protection plan that provides guaranteed additions to the sum assured during the premium payment term, along with life cover and a lump sum payout at maturity.
• Aegon Life Insta Pension Insurance Plan: An immediate annuity plan that provides a regular income post-retirement until death, offering two annuity payout options—Life Annuity and Life Annuity with Return of Purchase Price.
• Aegon Life Regular Money Back Insurance Plan: Designed for those seeking a lump sum payout in the event of death and regular guaranteed income, with guaranteed payouts for 10 years and life cover beyond the premium payment term.

Unit-Linked Insurance Plans (ULIPs)

Aegon offers ULIPs that combine market-linked investments with life insurance, enabling individuals to grow their wealth while also enjoying insurance coverage. Their ULIP plans include:

• Aegon Life iInvest Insurance Plan: An online ULIP that offers a combination of protection and investment, allowing policyholders to choose from six different funds to invest in.
• Aegon Life iMaximize Insurance Plan: A ULIP with financial protection benefits and market-linked returns, offering three Triple Benefit options to safeguard the future of the policyholder's child.

Group Insurance Plans

Aegon's group insurance plans are designed for members of unions, organisations, or company employees to avail of life insurance under a single master policy. These plans include:

• Aegon Life Group Credit Protection Insurance Plan: Offers comprehensive life insurance coverage and protection against loan liabilities in case of the policyholder's demise.
• Aegon Life Group Health Plan: A comprehensive group health plan that covers various life eventualities, including cancer, disability, vector-borne diseases, and critical illnesses.

Aegon Life Insurance is known for its customer-centric approach, digital-first solutions, and innovative insurance plans. The company has received numerous awards and recognitions for its services, including "Digital Company of the Year-2020" at the India Insurance Summit 2020 and "Best BFSI Brand 2019" at the India-UAE strategic conclave.

How to claim insurance through Aegon

Aegon Life Insurance is an Indian life insurance company offering individual and group insurance online and offline. It is a joint venture between Dutch multinational insurance company Aegon N.V. and The Times Group, one of India's largest media conglomerates.

Aegon Life Insurance has a claim settlement ratio of 99.03% (2021-22). The company offers easy-to-purchase life insurance solutions to meet various life insurance requirements.

Claim Intimation:

The first step is to notify Aegon Life Insurance of the claim. This involves submitting a filled-in claim form along with the relevant documents to any Aegon Life Insurance branch. The specific type of claim form will depend on the nature of the claim, and can include:

• Natural/accidental death claim form
• Accidental disability/dismemberment claim form
• Critical illness/women's critical illness claim form
• Terminal illness claim form

Along with the claim form, supporting documents such as hospital certificates, physician statements, death certificates, or other applicable documents should be attached.

Payment of Fund Value:

This step is applicable for death claims. Once Aegon receives the documentation, the fund value of the policy will be paid out to the beneficiaries.

Settlement Payout:

Upon receiving the claim form and documentation, verification of the documents will be initiated. If any additional documentation is required, it will be requested, and the verification process will be completed once all documents are received.

After verifying the documents, any clauses or riders attached to the policy will be examined, and adjustments to the policy settlement will be made. If the documents are in order, the settlement will be released in favour of the beneficiary or policyholder, depending on the type of claim.

The settlement will be transferred electronically through NEFT (National Electronic Funds Transfer) to ensure transparency and reduce the possibility of fraud or financial discrepancies.

Additional Information:

Aegon Life Insurance also provides a toll-free number (1800 209 9090) and email address for customers to check their claim status. Additionally, customers can intimate the company of a death claim by submitting the necessary forms and documents at the nearest Aegon Life branch office.

For customers in the UK, Aegon Protection Insurance has rebranded to Royal London. Claims can be made by contacting Royal London through their online form or by calling their customer service line.

Documents required for Aegon Life Insurance

When purchasing a life insurance policy, there is a set list of documents that must be submitted along with the application form. These documents are used to verify the policyholder's identity and address for verification and settlement purposes. Here is a list of documents required for Aegon Life Insurance:

Proof of Identity:

• Voter's identity card
• A job card issued by NREGA and signed by a State Government officer

Proof of Residence:

• Bank account or post office account statement
• Property tax or municipal tax receipt
• Utility bills (electricity, gas, telephone) not more than 2 months old
• Letter of allotment or accommodation from the State or Central government, financial institutions, or listed companies

In addition to these documents, a passport-size photograph is also required. It is important to note that these documents are essential for establishing the policyholder's identity and address, ensuring a smooth verification and settlement process.

How to check Aegon Life Insurance policy status

Aegon Life Insurance Company, headquartered in Mumbai, India, is a leading insurance provider in the country. It is a joint venture between Dutch multinational insurance company Aegon N.V. and The Times Group, one of India's largest media conglomerates. With a presence in over 20 countries across America, Europe, and Asia, Aegon has been in the insurance sector for over 173 years. The company offers a range of insurance products, including life insurance, term insurance, retirement plans, group insurance plans, and more.

Online Method:

• Visit the official website of the Aegon Life Insurance Company.
• Log in to your account using your credentials. If you haven't registered yet, you may need to sign up first.
• Once logged in, navigate to the policy dashboard or account overview section.
• Look for the policy status section, which will provide updates on your coverage and financial planning.

Mobile App Method:

The Bajaj Finserv BBPS platform or the Bajaj Finserv App also allows you to check your Aegon Life Insurance policy status. Here are the steps:

• Log in to the Bajaj Finserv BBPS platform or the mobile app.
• Select 'Insurance' from the payment options and choose 'Life Insurance' as the category.
• Find and select Aegon Life Insurance from the list of insurers.
• Input your policy number and the premium amount.
• Choose your preferred payment method, such as credit/debit card, net banking, or UPI.
• Confirm the details and complete the transaction.

Offline Methods:

• Call Aegon Life's toll-free number 1800-209-9090 for policy information or any other queries.
• Send an email to [email protected] for any queries related to your policy.
• Visit the nearest branch office by locating it through the branch locator service on the official website.
• Send your query by post to the following address: The Customer Service Department, Aegon Life Insurance Company Limited, Building No.3, Third Floor, Unit No.1, Nesco IT Park, Western Express Highway, Goregaon (East) Mumbai - 400063.

Additionally, you can send specified codes relevant to the service to 9221010101 to receive information about your Aegon Life Insurance policy.

How to pay premiums for Aegon Life Insurance

Aegon Life Insurance Company, now known as Bandhan Life Insurance Limited, is an Indian life insurance company that offers individual and group insurance online and offline. It is a joint venture between Dutch multinational insurance company Aegon N.V. and The Times Group, one of India's largest media companies.

Aegon Life Insurance provides a range of insurance products, including term insurance plans, savings and investment plans, child plans, and unit-linked insurance plans (ULIPs). The company has 25 products on the market, including group plans and a term plan specific to rural areas.

Using the Bajaj Finserv BBPS Platform or App

• Log in to your Bajaj Finserv account, either through their website or the Bajaj Finserv App.
• Navigate to 'Insurance Payments' and select 'Life Insurance' as the category.
• From the list of insurers, find and select 'Aegon Life Insurance'.
• Input your policy number and the premium amount.
• Choose your preferred payment method, such as credit/debit card, net banking, or UPI.
• Confirm the payment details and complete the transaction.

Online Payment via Freecharge

You can also pay your Aegon life insurance premium online through the Freecharge website.

Through the Aegon Life Insurance Website

• Visit the official website of the Aegon Life Insurance Company.
• Log in to your account using your username and password. If you haven't registered yet, you may need to create an account first.
• Navigate to the policy dashboard or account overview section to view your policy details.

Note: You can also contact Aegon Life Insurance's customer service to inquire about your policy number if you only have your name. They may require additional details to verify your identity before providing the policy number.

Frequently asked questions