Aegon Life Term Insurance Plans

If you reside in a city where there are no existing branches of the company, you need 5 documents via courier to the Head Office. These are:

• Original policy document
• Self-attested Pan Card Copy
• Cancelled Cheque
• NEFT Form
• Application Letter

An Open Title claim can be registered in such cases. The Claimant has to submit a Succession Certificate, which is issued by a competent court. If the company has accepted the claim but is waiting for the issued proof, it has the authority to hold the money till the proof is submitted.

If you are around 30, you can work 30 years more. Your current annual salary is around Rs. 5 lakh, but you will get an increment every two years or so. Hence, you could look at a term insurance amount of Rs. 1 crore. Just keep the growing inflation rate in mind.

Yes. The average Indian woman lives longer than the average Indian man, therefore, the term life insurance premium for women is lower as compared to men of the same age.

If the premium remains unpaid for more than a month after the due date (that is the 'grace period'), the plan will lapse. In such a situation, your beneficiary will not receive anything from the term life insurance policy and will be considered as 'lapsed'.

If the insured dies during the plan tenure (before he/she can pay the premium), the due premium will be deducted from the death benefit.

Apart from insuring your family, term insurance plans offer various tax benefits. Under Section 80C of the Income Tax Act, you can claim a deduction of up to Rs 1.5 lakh on your policy premium. Even the amount that your loved ones get in your absence will be tax-free.

You can buy as many term insurance plans as you want to fulfil your insurance needs. You can even nominate different beneficiaries for both the insurance plans.

Yes, the insurer can reject a life insurance claim on grounds of-

• Misrepresentation of actual information
• Non-disclosure of correct information
• Fraud

No, once an Aegon term plan is purchased, the terms and premium amount cannot be changed.

Yes, the Aegon term plan covers death caused by the terrorist attacks. The policyholder's nominee or legal heir can claim the death benefit.

You can check the status of your Aegon Life Term Insurance policy by calling the toll-free number or sending an email to the company.

Customers who do not pay their premiums on time are given a 30-day grace period to do the same.

To change your sum assured, you need to submit a duly signed request to the company.

The ideal coverage for your Aegon Term plan will solely depend on your needs and requirements. Evaluate your responsibilities, liabilities and of course budget, and then choose your ideal plan coverage.

No, the policy covers hospitalization due to diagnosis of Covid-19 only for the 1st time.

All claims including death claims should be intimated as soon as possible. In case of any sort of delay in reporting the claim the reason for the same should be justified in writing by the claimant.