Aegon Life Insurance FAQs

The taxes levied on insurance premium are provided by the Government of India at a rate set by them as per the provisions provided by the prevalent tax laws.

Aegon Life Insurance offers various insurance plans such as Term Insurance, ULIPs and Savings Plans. These plans are designed carefully to fulfil the requirements of the customer and provide the best-suited insurance plan according to their budget.

Aegon Life Insurance strives to cater to the requirements of every customer and fulfil their long-term financial aims. They offer various insurance plans such as Term Insurance, ULIPs and Savings Plans. Aegon Life has featured a high claim settlement ratio of 98.01% for the year 2019-20.

The policyholder can pay premium online through the Aegon Life website through net banking, credit/debit cards, and E-wallets or at any Aegon Life branch office.

You should choose the policy that best suits your needs depending on your insurance objectives, your income, your existing policies (if any), your assets, liabilities, and your expenses.

Goods & Services Tax, Cess (if any) and any other Statutory levy will be charged extra on Premiums as per prevailing rates. Tax laws are subject to amendments from time to time.

Aegon Life Insurance offers a bouquet of insurance plans such as term insurance, ULIPs and savings plans. These plans are designed carefully to fulfil the requirements of the customer and provide the best-suited insurance plan according to their budget.

Aegon Life Insurance strives to cater to the requirements of every customer and fulfil their long-term financial aims. They offer various insurance plans such as Term Insurance, ULIPs and Savings Plans. Aegon Life has featured a high claim settlement ratio of 99.03% for the year 2021-22.

The policyholder can pay premium online through the Aegon Life website through net banking, credit/debit cards, and E-wallets

Aegon Life Insurance makes claim payouts through direct bank transfers or through cheques.

The nominee/assignee/beneficiary/legal heir as mentioned in the policy by the policyholder is entitled to receive the death claim benefit.

All types of claims are to be reported immediately to the insurance company for a faster and hassle-free claim settlement process.

Yes, Aegon Life Insurance policies cover any hospital expenses at the time of diagnosis of COVID-19 and also one can request a claim for death caused due to COVID-19.

Aegon Life Insurance featured a high claim settlement ratio of 99.03% in the FY 2021-2022.

Aegon Life Insurance makes claim payouts through NEFT only.

The nominee as mentioned in the policy by the policyholder is entitled to receive the death claim benefit.

All types of claims are to be reported as soon as possible to the insurance company for a faster and hassle-free claim settlement process.

Yes, Aegon Life Insurance policies covers Covid 19 and one can request a claim for death caused due to it.

Aegon Life strives to provide the best insurance plans, the benefits offered by Aegon Life while purchasing term plans are as follows:

• No paperwork required
• Hassle-free claim process
• Get a quote in a matter of seconds
• The plan provides lifelong coverage
• 36 optional critical illness cover
• Availability of 100% cover for Terminal Illness
• Availability of Accidental Death Cover
• Availability of Waiver of Premium Option.

Contact details, payment mode and frequency can be changed in a term insurance plan after your purchase. Although you cannot change the sum assured amount and policy tenure once the policy has been bought.

Aegon Life Insurance offers various insurance plans such as Term Insurance, ULIPs, Health and Savings Plans.

Aegon Life Insurance policies are issued quickly within 2 days after receiving all the required documents and medical records.

Aegon Life Insurance offers a bouquet of insurance plans such as term insurance,
ULIPs, savings, and pension plans.

Aegon Life is a trusted brand and has featured a high claim settlement ratio of 99.03% in the FY 2021-22. Aegon Life simplify life insurance making it easy to understand, buy and claim with zero documentation and hassle free claim process

Aegon Life strives to provide the best insurance plans, the benefits offered by
Aegon Life while purchasing term plans are as follows:

• No paperwork required
• Hassle-free claim process
• Get a quote in a matter of seconds
• The plan provides coverage throughout the earning years
• 36 optional critical illness cover
• Availability of Accidental Death Cover
• Availability of Waiver of Premium Option.

Aegon Life Insurance policies are issued quickly within 10 days after the payment is completed and all the required documents and medical records are shared.

Contact details, payment mode and frequency can be changed in a term insurance plan after your purchase. Although you cannot change the sum assured amount and policy tenure once the policy has been bought.

The toll-free customer care number of Aegon Life Insurance is 1800-120-4433.

The life cover amount can not be changed in an existing insurance policy but an extra additional insurance policy can be purchased for extra coverage.

The KYC documents required while purchasing an insurance policy are age proof, address proof, photo ID proof (Aadhaar Card/Pan Card).

Once the policy has been purchased, all necessary documents have been submitted and medical tests have been conducted it takes 7-10 days for Aegon Life insurance policy to be issued.

Term insurance plans offer high life cover at very affordable prices and it gives you the option to add optional riders for added protection offered by the insurance company.

The toll-free customer care number of Aegon Life Insurance is 1800-209-9090.

The life cover amount can not be changed in an existing insurance policy but an extra additional insurance policy can be purchased for extra coverage.

Once the policy has been purchased, all necessary documents have been submitted and medical tests have been completed it takes around 7-10 days for Aegon Life insurance policy to be issued.

The KYC documents required while purchasing an insurance policy are identity, address proof, income proof.

The ‘basic premium amount’ stays constant throughout the term of policy but the renewal premiums change due to taxes levied by the government and change in premium payment frequency.

Premiums for smokers are generally high because of the smoking habits they are counted in a high-risk category.

A free look period is offered by the insurance companies. A free look period of 15 days is offered from the day the policyholder receives the original policy documents if the policy is purchased through distance marketing the free look period offered is 30 days.

Before buying a life insurance plan consider the claim settlement ratio of the insurance company, availability of optional critical illness benefits and availability of addition of accidental death benefits.

Yes, age does affect the calculation of premium as it is an important factor. As the age increases so do the insurance premium. It is recommended to get term insurance at an early age to avail high life coverage at an affordable price.

Once the policy is issued, premium will remain the same for the entire tenure of the policy.

Premiums for smokers are generally high because smoking is a health hazard that increases risk. This in turn increases the mortality risk for smokers. The premium will increase if the risk increases.

Free-look Period is the period during which the Policyholder has the option to review the terms and conditions of the policy . A period of 30 days is offered from the day the policyholder receives the original policy documents to review the document and request for cancellation.

Before buying a life insurance plan one must identify their goals like leaving behind sufficient funds for your family, paying-off loans, funding your children’s education, or investing for the future. Also, consider the claim settlement ratio of the insurance company.