Aegon Life Insurance

Claim Settlement Ratio - 96.06%*
*Data according to IRDA Annual Report (2018-19)
*Please note that the quotes shown will be from our partners

Aegon Life Insurance Company Limited launched its operations in India in July, 2008 and since then has emerged as a strong player in the insurance industry. Currently, the company enjoys a good market share and has launched different types of life insurance products for meeting all the varied needs of individuals at attractive premium rates.

Aegon Life Insurance Plan

Aegon Life Insurance Company has a variety of insurance plans in its kitty for its customers who can choose any plan according to their needs and requirements. The plans provide the features of protection, savings, wealth appreciation, security of child’s future and retirement planning. The features of each plan are unique and the premium rate is also competitive making the competition at par with other insurance companies in the market. The types of plans that the company offers are:

  • Term Insurance
  • Health Insurance
  • ULIPs
  • Saving Plan
  • Retirement Plan
  • Child Plan
  • Rural Plan
  • Group Insurance Plans

Here are all the different types of insurance plans offered by Aegon Life.

Aegon Life Insurance Plans - Eligibility Criteria's

Aegon Life Insurance Plan

Plan Type

Entry Age

Maturity Age

Sum Assured

Policy Term

iTerm Insurance Plans

Term Insurance

18/65 years

75 years

Rs 10,00,000

5/40 years

Easy Protect Insurance Plans

Term Insurance

20/50 years

60 years

Rs 12,00,000

10 years

Term Insurance Plans

Term Insurance

20/65 years

75 years

Rs 10,00,000

10/15/20/25/30/35/40 and 75 years

iReturn Insurance Plan

Term Insurance

18/65 years

75 years

Rs 30,00,000

5/10/15/20 years

Future Protect Insurance Plan

ULIP

7/50 years

65 years

Age < 45 years (10 x Annualised Premium)

10/20//25/30/35 years

Age >= 45 years (7 x Annualised Premium)

Rising Star Insurance Plan

ULIP

18/48 years

65 years

Age < 45 10 x Annualised Premium

25 years

Future Protect Plus Insurance Plan

ULIP

7/50 years

70 years

Age < 10 x Annualised Premium

15/20/25 years

iMaximise Single Premium Insurance Plan

ULIP

8/60 years

65 years

125 % of Single Premium Amount

10 years

Regular Money Back Insurance Plan

Savings Plan

55 years (Max)

75 years

 

20 years

iGuarantee Insurance Plan

Savings Plan

12/50 years

56 years

10 x Annualised Premium

6 years

Jeevan Shanti Insurance Plan

Savings Plan

8/50 years

Last Birthday

Based on Age of Insured

10 years

Guaranteed Growth Insurance Plan

Savings Plan

8/50 years

60 years

10 x Annualised Premium

10 years

Group Term Plan

Group Insurance

18/59 years

60 years

Rs 5,000

1 year (renewable)

Group Leave Encashment Plan

Group Insurance

18/74 years

75 years

Rs 1,000

1 year (renewable)

Group Gratuity Plan

Group Insurance

18/74 years

75 years

Rs 1,000

1 year (renewable)

Group Credit Life Plan

Group Insurance

18/55 years

65 years

Rs 50,000

24 months (Single)

60 months (Regular)

90 months (Limited)

iMaximize Insurance Plan

ULIP

7/55 years

70 years

10 x Annualised Premium

15/20/25/ years

Aegon Life Insurance - Term Plans

A pure risk plan which provides benefits only if the insured dies during the chosen term of the plan. Term plans are very helpful for income protection need because by providing a high coverage at lower amount of premiums, the plans enable a policyholder to build a considerable emergency fund for the family in case he suffers premature death. The type of term plans offered by the company include:

Aegon Life iTerm Insurance Plans

This plan protects the family of the insurer at the time of his death at just a fraction of cost. The following are the features of this plan.

  •   Cover amounting to Rs. 1 crore offered
  • Payable premium is Rs. 8,100 p.a.
  • Applicable to a male of 25 years of age.
  • The insurer should be a non-smoker
  • The cover if for a term of 2o years.
  • The only term plan with terminal illness advantage
  • Covers deaths in any form including attack by terrorists.

Aegon Life Easy Protect Insurance Plans

This type of plan helps the nominee to lead the same lifestyle even in the absence of the policy-holder. It ensures that the family gets assured monthly income in case of the death of the insurer. The following are the features of this plan:

  • After the claim is accepted, the nominee gets an assured monthly amount of Rs. 10,000.
  • This amount is offered for a period of 10 years.
  • This plan does not include any medicals.
  • Tax deduction benefits can be availed in this plan as per the tax law.

Aegon Life Term Insurance Plans

This plan helps the nominee after the death of the insurer in a lot of ways. They provide life cover to the family of the deceased and also offers monthly payouts that acts as income benefits. The following are the features of this plan:

  • It offers the advantage of 2 deaths.
  • It ensures regular monthly payouts in case of death benefit 2.
  • The monthly payouts are offered for a period of 5 years.
  • The monthly payout amounts to 3% of the cover amount.
  • Benefit of inbuilt accidental death.
  • Cover is offered up to the age of 75 years.
  • Tax benefits can be availed as per the tax laws.

Aegon Life iReturn Insurance Plans

This plan only aims at offering protection in the form of cover and also the return of the premiums. The following are the features of this plan:

  • It can be purchased online.
  • Does not require any sort of paperwork.
  • It is for people who are the sole earning member of the family with various financial burdens and those who have dependents.
  • In case of death of the insurer, the cover amount is payable to the nominee.
  • The premiums paid are returned to the insurer at the end of the policy term if the policy-holder survives.
  • Multiple riders can be chosen.
  • Tax benefits can be availed as per the tax law.

Aegon Life Insurance - Health Plans    

Health insurance plans offered by the company help in taking care of the medical expenses which the policyholder or his family might face in the event of any contingency requiring hospitalization. The different types of Health Insurance plans offered by Aegon Life are as follows:

Aegon Life iCancer Insurance Plans

This plan safeguards the insurer as well as his family against medical expenditure that might arise with the incidence of Cancer. It involves all sorts of cancer excluding only skin cancer. The following are the features of this plan:

  • All cancer forms included with an exception of skin cancer.
  • Financial pay-outs provided on all stages of cancer.
  • It can be bought online.
  • No paperwork required.
  • Claim can be made on multiple cancers.
  • After major stage, no payment of premium is required.
  • Tax benefits can be availed as per the tax law.

Aegon Life insurance - ULIPs Plans

ULIPs provide options of funds that depend on how much risk the policy-holder can sustain. It provides double benefit of life cover as well as investments that are connected to the markets. It does not involve any allocation charges and the returns on maturity are also tax-free. The different types of ULIPs are as follows:

Future Protect Plus Insurance Plan

This plan offers life cover to the nominee. In case of death, cover amount is enjoyed by the nominee and in case of survival, a lump sum amount is payable to the insurer. This plan has an option of the protection of investment and the funds are balanced automatically. Tax benefits can also be enjoyed.

Rising Star Insurance

This plan makes sure that the future of the children of the insurer are secured. In case of death, cover amount is enjoyed by the nominee and in case of survival, a lump sum amount is payable to the insurer. The funds are balanced automatically and also have an option of partial with-drawl of funds. Tax benefits can also be availed to.

Future Protect Insurance Plan- This plan provides amount gain option in case of market inflation. In case of death, cover amount is enjoyed by the nominee and in case of survival, a lump sum amount is payable to the insurer. The funds are balanced automatically and also have an option of partial with-drawl of funds. Tax benefits can also be availed to.

Aegon Life iMaximise Single Premium Insurance Plan

This plan helps the insurer to reap the advantages of investment maximisation. It does not involve any premium allocation charges and can be bought online. It offers a choice of 3 investment funds with premium payable only once. Tax benefits can also be availed and also involves partial with-drawl facility.

Aegon life Insurance - Savings Plans

These plans are not linked to the market. They offer coverage on life and assured returns. The different types of savings plan are as follows:

  • Aegon Life Flexi Money Back Advantage Insurance Plan- This plan helps the policy-holder to get back the money that was invested by him at regular intervals of time..
  • Aegon Life Guaranteed Growth Insurance Plan-It is a type of life insurance plan that offers an assured return of 150% on the premiums that are paid annually.
  • Aegon Life iGuarantee Insurance Plan- This plan is a type of investment plan that offers assured returns on the investments.
  • Aegon Life Premier Endowment Insurance Plan- This plan is a type of protection plan that gives extra benefits on the savings of the policy-holder
  • Aegon Life Jeevan Shanti Insurance Plan- This plan helps the insurer to save some amount of money on a regular basis and also offers coverage on the life. 
  • Aegon Life Jeevan Shanti Insurance Plan-This plan helps the insurer to save some amount of money on a regular basis and also offers coverage on the life.

Aegon Life Insurance - Retirement Plans

Retirement plans take care of the retirement funding of the individual by providing him a regular flow of income post retirement in the form of annuity payouts. Retirement Plans are also called Pension Plans. It assures the policy-holder a guaranteed income of 7.5% of the money assured till the insurer becomes 85 years old. It helps the policy-holder to live a tension-free life even after their retirement. The retirement or pension plan offered by Aegon Life is:

Aegon Life Guaranteed Income Advantage Insurance Plan

It is a type of savings plan that assures guaranteed return of 7.5% of the sum assured till the insurer attains the age of 85 years. Again tax benefits can also be availed as per the tax law. 

Aegon Life Guaranteed Income Advantage Insurance Plan

It is a type of savings plan that assures guaranteed return of 7.5% of the sum assured till the insurer attains the age of 85 years. Again tax benefits can also be availed as per the tax law.

Aegon Life Insurance - Child Plans

Child plans offered by Aegon Life help the children of the insurer by savings money for their future. The different types of child plans are as follows:

Aegon Life EduCare Advantage Insurance Plan

This plan helps the insurer by securing their child’s future against many educational expenses. It offers the insurer the lump sum amount at the end of the last four policy years in order to settle the recurring college fees. The premium payment term is also limited and tax benefits can also be availed as per the tax law.

Aegon Life Rising Star Insurance Plan

It undertakes the task of securing the future of the insurer’s child against any uncertain circumstance that might arise in the future. It offers higher cover amounts, waiver of premiums and the payment of fund value to the nominee at the time of the insurer’s death. The funds are balanced automatically and also have an option of partial with-drawl of funds. Tax benefits can also be availed to.

Aegon Life Insurance - Rural Plans

Rural plans as mandated by law are designed to provide insurance coverage to the rural population of the country at low rates of premiums. The company offers the following type of rural plan:

Rural Term Insurance Plan

It is a special plan that involves only a single payment of the premium for the term of 5 years. In case of death of the insurer, the sum assured is provided to the nominee and no benefit can be enjoyed by the insurer on survival. On death the policy terminates and tax benefits are also available under the plan.

Aegon Group Insurance Plans

Group Insurance plans are special plans which provide coverage to a group of people registered under a common group. The plans under the Group Insurance category offered by the company are:

  • Aegon Life Group Gratuity Plan- This plan offers death benefit option to the insurer with an added advantage of more than one investment options.
  • Aegon Life Group Leave Encashment Plan-the plan offers employees working in an organization the benefit of leave encashment and comes as a unknit linked plan.
  • Aegon Life Group Credit Life Plan- This plan offers a group of members the cover for life as well as sufficient cover for the outstanding loan at a really affordable price.
  • Aegon Life Group Term Plan- This plan offered life insurance to the employees. In case of his death, the sum assured id provided to the nominee.

Aegon Life Child Plans - News

  • Satishwar Balakrishnan – New CFO of Aegon Life Insurance

    Aegon Life Insurance is an extremely prestigious insurance company based in India. This company was founded in the year 2008 and offers a plethora of individual and group insurance plans, both online and offline. The Aegon Insurance Company is especially popular for being the pioneer of Digital Insurance in India.

    Mr. Satishwar Balakrishnan was announced as the new Chief Financial Officer (CFO) of Aegon Life Insurance recently. Mr. Balakrishnan has around two decades of rich experience in the domain of Insurance and Finance. He joined Aegon Insurance after a successful stint at IndiaFirst Life, where he used to work as a Chief Financial Officer.

    The CEO of Aegon Life Insurance, Mr. Vineet Arora, mentioned that he is thrilled to welcome Satishwar Balakrishnan to the leadership team of the company. He discusses how the expertise of Mr. Balakrishnan in the field of insurance would be a great asset. Mr. Arora also goes on to add that he has full confidence in the experienced management team of the Aegon Insurance to efficiently lead this company into a new phase of growth and prosperity.

    Mr.Satishwar Balakrishnan also comments on his appointment and says that it would be an exciting and challenging experience for him to be associated with a contemporary digital insurance company like the Aegon Insurance Company.

  • Aegon Life Insurance Looking Deep into Business

    Aegon Religare Life Insurance Company, the private player is renamed as Aegon Life Insurance Company Ltd. The administration group of the organization will stay unaltered and will stay focused on each of its clients, employees and affiliates with focus on customer service though digitisation. Aegon Life Insurance Company believes, every current policyholder will keep on maintaining the advantages with no adjustment in the terms and conditions of the policy issued by Aegon Religare Life Insurance Company Ltd.

    Aegon Life Insurance Co Ltd is confident of winning breakeven financial year by 2018. The chief Distribution Officer, Amit Kumar Roy believes that they are on course to accomplish a no profit no loss record by 2018 and turn out to be tremendously profitable by 2020. This Netherlands based Aegon had before the end of last year trekked its shareholding in the life insurance providers from 26% to 49%. Also in a recent discussion with a leading newspaper Mr. Roy states that they have no plans yet to discontinue their direct sales over phone calls as it increased their customer grievances and the distrust of selling products by misleading.

Written By: PolicyBazaar - Updated: 21 October 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 152 Reviews)
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Aegon Life Insurance Reviews & Ratings
4.3 / 5 (Based on 157 Reviews)
(Showing Newest 25 reviews)
Tama
Dankaur, October 22, 2020
Savings plans
It is one of the savings plans which I bought from the Aegon life insurance plans. It is much saver pack plan for me and my family. Thanks team.
Tarika
Gudur, October 22, 2020
Cost-effective
My Aegon life insurance plan which I bought from the policybazaar is super easy to buy and cost-effective in nature. It has given me so much of additional features.
Tapsi
Doddaballapur, October 22, 2020
Cover the needs
My Aegon Life insurance plan has given me a lot of coverage and it is one of the best plan I had. It is easy to buy. Thanks team.
Jassica
Binika, October 22, 2020
Different plans at one place
With policybazaar team help I got to know about Aegon Life insurance plan and it has numerous features as I thought of. One of the best life plan I got. Great work team.
Jai
Gelpur, October 22, 2020
A good plan
I have recently got the Aegon life insurance policy from the website of the policybazaar. I found it quite into my budget. It is best plan and I really like it. Thanks team.
Saurabh
Delhi, March 01, 2018
Good Service
Bought Pension plan few days back so far policybazaar is offering best services wish them best of luck
Ayush
Firozpur, October 14, 2016
Jasmit Kukreja
Ulip insurance policy of my family has nice services and very beneficial. Policy coverage is good ~89% and the claiming procedure is simple, online services makes more easy and reduces the paperwork, documentations. Online portal helps to renew the insurance policy by few clicks.
Neil
Kashipur, October 14, 2016
Superb Plan
Pension insurance plan from aegon life insurance for my parents in low budget. The premium of the insurance policy is less and the return after the policy get matured is a big amount. Service facilitate by the team of the insurance company is quick and always on time.
Harish
Ghaziabad, October 14, 2016
Future Security Policy
The aegon life insurance provides me the child insurance plan in very low premiums. The insurance policy facilitates me the best services which is given by the executives and staff members of the company. Investment is less but the return is very high.
Neeraj
Dangar, September 23, 2016
Wonderful
Aegon life insurance is the top most insurance company. I took the ulip insurance policy through them in low premiums and the coverage is high as compared to premium. Service is perfect given by the team of the company. The online renewal option is the best service and the many updates can be checked on the website.
Harshita
Alwar, September 23, 2016
High coverage
My traditional insurance policy is very good, it comes in less investment and the coverage is 89%. Claiming is high with good amount of return. Service provided by the company members is fantastic, executives and staff members works 27X4.
Prabhjot
Hyderabad, September 23, 2016
Aegon Insurance Policy
After long search, finally got the policy of my choice through aegon life insurance company ltd. Premium is less and the coverage is pretty much high as compare to investment. Claiming process is easy as it done without paperwork through online services.
Abhishek
Fatehpur, September 23, 2016
Pension Insurance Policy
I got my future secured with aegon life insurance. I purchased pension insurance policy, investment is less and returns are high after maturation of insurance policy. Coverage is maximum and claims are simple to sanctioned by the help of executives of the company.
Deepanishi
Athagarh, August 24, 2016
High Paybacks
I have bought ulip insurance policy, it has great service and the online renewals is the best. The fast service reduces paperwork and long waiting. The behaviour of the company staff is very well. Policy coverage and claims are pretty good. The update mails are send to me regularly.
Samit
Khajuria, August 24, 2016
Give It A Try
My traditional insurance plan is very good. The service is on time always and investment is less. Great deal by you aegon life insurance. Policy covers maximum expenditures in all cases. Claiming become more easy because of fast service given by the executives and staff members of the company.
Rohit
Noida, August 24, 2016
Aegon Insurance
Aegon life insurance is the best insurer, i buy the pension insurance policy from them. Premium is less and coverage is high. Service you provided is fabulous guys. Claims are easily sanctioned and the amount is big. Updates are also mailed to my email address.
Vikram
Kadipur, August 04, 2016
Term plan
The term insurance policy i buy from aegon life insurance is fantastic and it has very good terms and conditions. The policy plan has less premiums and the claims are easy to get by clicking few buttons using website of the company which is very simple to operate. The online renewals is also possible.
Ashok
Fakirpur, August 04, 2016
Quality Product
The future on mine and my family is secure with aegon life pension insurance plan. The service is fast and the refund are very much amazing. Claiming process is never this easy, all because of good follow ups and on time service given by the staff group of the insurance company.
Lokender
Manesar, August 04, 2016
Aegon Insurance
My child insurance policy is very good decision i have taken for him. The policy i purchased from aegon life insurance is the best plan, it has low premium as well as high returns. The service you provide is perfect and easy renewals from online portal website. I'm satisfied with you.
Bhupesh
Narasapur, August 04, 2016
Child Plan
Aegon child insurance plan i have which has maximum benefits and great service given by the executives of the insurance company. The claims are high and simple to sanction the amount. Good future savings and it reduces the tax.
Pramond
Wazirganj, August 02, 2016
ULIP Policy
Service provided by the aegon is superb and on time too. I purchase ulip insurance plan and its really very awesome with full coverage. The claiming become very simple due to internet service and the renewals are simple to do by online portal service.
Rohit
Thane, August 02, 2016
Traditional Policy
My investment insurance policy is very cool and the service is also fantastic. Policy updates and renewals are easy to do with online portal and everybody can access it easily. Policy coverage and claims are high.
Chirag
Kurukshetra, August 02, 2016
Retirement plan
After long search i found good policy i.e., aegon pension plan in low investment but at the retirement it gives huge returns. Perfect insurance plan for future life. Coverage is high, claims are easily cleared and service is all time favourite because of good behaviour from the company staff.
Tanmay
Miraj, August 02, 2016
Satisfactory Policy
Good child insurance policy purchased by aegon life insurance. The policy covers maximum expenditure and premium of the plan is also low. Claiming is simple and no paper work for renewals because it done on online portal.
Lokesh
Nasik, July 15, 2016
ULIP Plan
My ulip plan is very nice which i buy from aegon life insurance. Policy coverage is good and the claims are easy to cleared because of fast service facilitate by the staff of the company. Premium is less and the renewal of the plan is easy through online service.
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