Aegon Life Insurance
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Aegon Life Insurance

Aegon Life Insurance Company launched its PAN India operations in July 2008, following a multi-channel sharing strategy with an idea to help people plan their life better. It is a joint venture between Aegon (an International Life insurance provider) and Bennett, Coleman & Company (India's largest media conglomerate, famously known as Times Group) The company offers Best Term Insurance plans, Child Plans, Savings, Investment plans, Unit-Linked Insurance plans (ULIPs) as well as group solutions. Aegon Life, headquartered in Mumbai, serves a customer base of over 3 Lakhs.

Aegon Life Insurance Awards & Achievements

The company has been recognised on various occasions for its achievements. Some of its recent achievements are as follows:

  • Awarded the "Digital Company of the Year-2020" at India Insurance Summit 2020
  • Recognised as the "Best BFSI Brand 2019" by The Economic Times
  • Won the "Digital Insurer of the Year' in the 2018 edition of Indian Chamber of Commerce awards.

Aegon Life Insurance Key Features

Choosing an ideal life insurance company out of all the available insurance companies is not an easy task. With the increased competition among insurance companies, a prospective consumer may get confused thinking every company offers the same facilities and benefits, and end up choosing the wrong life insurance plan.

Thus, to help you make an informed decision, we have evaluated Aegon Insurance's performance on certain factors such as claim settlement ratio, solvency ratio etc. Read along to find out the company’s performance in 2020-21:

Highlights of Aegon Life Insurance Company

New Business Premium IncomeRs. 9.17 Lakhs
Asset under ManagementRs. 2.55 Crores
Claim Settlement Ratio98.01%
Solvency Ratio2.39
Distribution Presence29 locations across India

For a detailed discussion on these factors, continue reading below.

  1. Aegon Life Insurance Claim Settlement Ratio (CSR)

    In order to get clarity on how dependable an Insurance Company is, you should always check for its consistency in settling claims. A historical comparison of the CSR of the company should give the user a fairly accurate idea of its reliability. Aegon Life Insurance has a claim settlement ratio of 99.25% in the financial year 2020-21. For more information, we are presenting its yearly CSR trend from FY 2017-18 to FY 2020-21 in the graph below.

    Yearly Trend in CSR of Aegon Life Insurance Company

    Aegon Metlife Claim Settlement Ratio 2017-2021

    *Data has been sourced from IRDAI Annual Report

  2. Aegon Life Insurance Solvency Ratio

    In order to help you decide, we have presented a graphical trend chart of Aegon Life Insurance company, highlighting the solvency ratio of Aegon Life over the years 2020-2021.

    Yearly Trend in Solvency Ratio of Aegon Life Insurance

    Yearly Trend in Solvency Ratio of Aegon Life Insurance

    *Data has been sourced from IRDAI Annual Report

  3. Aegon Life Insurance Distribution Network

    Aegon Life Insurance currently distributes its offerings through its direct sales force and online channels, select aggregators, corporate agents and brokers, across 26 locations. Further in the future, it has plans to continue with third-party distributors and web aggregators, in addition to actively pursuing bank tie-ups.

Aegon Life Insurance Products List

The products offered by Aegon Life have attached riders for enhanced protection against accidental death, dismemberment and disability, critical illness, etc. The table below lists the insurance policies offered by Aegon Life.

Product CategoryNames of Plans
Term PlansAegon Life Saral Jeevan Bima
Group Term Plus Insurance
Group Credit Shield Insurance
Aegon Life Rural Term Insurance Plan
Aegon Life Group Health Plan
iTerm Plan
Savings & Retirement PlansPOS-GRIP
Aegon Life Saral Pension Plan
Jeevan Riddhi Insurance Plan
Regular Money Back Insurance Plan
Aegon Life Insta Pension Insurance Plan
ULIPsiInvest Plan
iMaximize Plan

Why Choose Aegon Life Insurance company?

  1. Security & Satisfaction

    Aegon life insurance plans are an excellent way to plan your life and execute it in the manner you like. Life Insurance from Aegon offers peace of mind and satisfaction as well as can help your family to stay financially covered in case something unfortunate happened to you.

  2. Income Tax Advantage

    The premiums paid and advantages received under Aegon life insurance policies are eligible for tax deductions under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

  3. Fosters Savings for Life

    Aegon life cover plans help you to invest a regular amount, thereby increasing your future savings, which may come in handy for your family in case you are no longer there to support them.

Buying process at Aegon Life Insurance

You can buy Aegon Life Insurance Plan in two different ways i.e. via the official website of Aegon Life Insurance or you can visit the nearest branch of the company.

I. Buy From Aegon Life Insurance Official Website

1

Visit the official website and choose your plan.

2

Fill in your personal details like Name, Gender, DOB, Annual Income, etc and click on "Get a Free Quote".

3

Post this form and you will get a call from the customer service team of the company.

4

Tell the salesperson about your need so that he/she can send you the plan details via email.

5

The salesperson will share a payment link with you so that you can make your payment.

If you don't wish to buy online, you can visit the nearest branch of the company for a life insurance purchase.

Claim Process at Aegon Life Insurance

Claim Intimation

Submit duly completed claim forms and required documents at the nearest Aegon Life Branch or at their Head Office.

Document Verification

Upon receipt of the documents, the company commences the Claim Process and futher validates the information provided.

Benefit Payout

Further, upon verification, the company releases the balance/ complete death/ rider benefit amount to the beneficiary.

Aegon Life Insurance Contact Details

Email ID: customer[dot]care[at]aegonlife[dot]com (Available 24/7)

Toll-Free No: 1800-209-9090 (Monday-Saturday | 9am - 7pm IST)

Registered Office: Aegon Life Insurance Company, A-201, 2nd Floor, Leela Business Park, Andheri-Kurla Road Andheri-East Mumbai- 400059

Aegon Life Insurance: FAQs

1. When can I expect to receive my e-welcome kit/policy document?

Online policy - Once the policy is issued, the soft copy of the policy document is sent to your registered email id within 4 working days.

Offline policy - Once the policy is issued, the soft and hard copy of the policy document is sent to your registered email id and mailing address within 4 working days.

2. How do I check the status of my claim?

The status of your Claim can be identified by calling the Customer Care Helpline at the Toll Free number- 1800 209 9090 or by writing to them at customer.care@aegonlife.com.

3. How do I communicate my concerns in regards to a claim decision?

In case a claimant has a query regarding claims, they can approach the Customer Care department at 1800 209 9090. In case the claimant finds the response dissatisfactory, he/she may write to the Grievance Redressal Committee at the following address:

Aegon Life Insurance Company Limited, Building no.- 3, Third floor, Unit no.- 1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai -400063, Maharashtra

If the claimant is still not satisfied, (s)he can approach the Insurance Ombudsman.

4. How I can be able to increase the sum assured of Aegon insurance policy?

To increase the Sum Assured of Aegon insurance policy, you need to submit a duly signed request to the Aegon life insurance company.

5. Is it possible to add or remove a rider from my Aegon insurance policy?

Yes. you can add or remove riders from your Aegon Life Insurance plans. You need to submit a duly signed request letter to add a rider to the policy. To remove a rider, you need to call on the hotline number of the Aegon Life Insurance company. Keep your policy number and T-PIN handy at the time of the call.

6. What are the premium payment modes available for Aegon Life Insurance plans?

You can pay your Aegon Life Insurance premium through any of the following options:

  • Net banking.
  • Debit
  • Credit card.
  • Cheque.
  • Cash payment at the branch

7. How can I revive lapsed Aegon Life Insurance plans?

You can revive a lapsed policy by paying the premium and notifying the company by sending an email/letter.

8. How can I get a copy of my policy document?

You will receive a soft copy of the policy document at your registered email address within 4 working days from the policy being issued.

Find Out What the Customers Are Saying

(Showing latest 5 reviews only)

- 4.6/5 (28 Total Rating)

May 26, 2022

Yash Pratap Singh

Chennai

One of the best term insurance companies. I lost my wife to Covid. Glad that we had decided to buy Term Insurance from Aegon Life Insurance. After completing the formalities and documentation, I got my claims settled. Thankyou Aegon.

February 24, 2022

prem khanna

Jaipur

I am here to write my experience with aegon insurance company. I always got satisfactory support from the company and their customer care people. They are educated and polite.

September 30, 2021

Rashmi Chkrworty

Chennai

One of the best term insurance companies. I lost my husband to Covid. Glad that we had decided to buy Term Insurance from Aegon Life Insurance. After completing the formalities and documentation, I got my claims settled. Thankyou Aegon.

September 30, 2021

Satendar Singh Sodhi

Nagpur

Aegon Life Insurance is a name that I would recommend to everyone. With so many plans available, it is definitely one of the best you can buy.

September 20, 2021

Sudhir Kumar Jha

Dehradun

Plans of Aegon have very very good features... and the companies customer support team is very polite and helpful,

Last updated on March, 2022

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