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Insurance Companies 269 views July 21, 2019
Aegon Life Insurance Company – Overview
|Name||Aegon Life Insurance Company Limited|
|Company Tagline||Life can surprise you Be insured|
|Managing Director & CEO||Vineet Arora|
|Owner||Joint venture between Aegon and Bennett, Coleman and Co. Ltd (BCCL) the Times Group|
|Total No of Employees||11000+|
Aegon Insurance Company has been operating in India for nearly a decade during which the company has introduced multiple plans keeping in mind its clients’ requirements. While each plan has its own benefit, the tax benefits available on every one of them add to their growing repute. Listed following are plans that customers may choose from as per their specific requirements and budget. These include:-
Table of Contents
This online term insurance plan by Aegon Life Insurance Company ensures that the customers are able to buy their choice of life cover in lieu of monthly or yearly premium payments. Deemed as the most cost-effective way to have long-term financial protection in place, Aegon Life iTerm Insurance Plan is the most preferred by customers looking to pay for term insurance online.
Most life insurance plans necessitate their customers to procure details and proofs of their health conditions. This can be a cause of concern to many people who may not be wary of such complicated procedures. Buying Aegon Life Easy Protect Insurance Plan ensures that customers have access to the best kind of term insurance protection at reasonable insurance prices.
The perfect example of what one can expect from a pure traditional term insurance plan, Aegon Life Term Insurance Plan ensures that customers avail the adequate amount of life cover as per their needs and budget. Affordable premium rates add to the already existing reputation that this plan enjoys among interested customers.
Many customers are apprehensive about the money that they have to spend on premium payments. Choosing Aegon Life iReturn Insurance Plan over other term insurance policies means that policyholders can get back their premium amounts if all goes well in the future. The fear of losing out on the premium amounts is nil for customers who prefer their money returned if the policy does not serve the purpose for which it was originally bought.
This plan suits best for customers who wish to remain protected for their entire lives. The decision to opt for a whole life cover stems from a sense of uncertainty synonymous with life and the unsure about what lies ahead. Paying for Aegon Life iTerm Forever Insurance Plan ensures that the company’s policyholders do not have to worry about any possible financial insecurity that their loved ones would have to face in the distant future.
Not all people can afford to buy term insurance no matter how reasonable premium rates are. This leaves their dependents and family members bereft of the necessary financial protection that they deserve. Aegon Life Easy Protect Insurance Plan was launched keeping in mind the financial interests of policyholders looking for cover at very low premium rates sans the need to submit necessary medicals or documents.
|Aegon Life Insurance Plans||Nature of Insurance||Min Entry Age||Max Entry Age||Maturity Age||Minimum Sum Assured (in Rs.)||Min Policy Term||Max Policy Term
|iTerm Insurance Plans||Term Insurance||18 yrs||65 yrs||75 yrs||10,00,000||5 yrs||40 yrs|
|Easy Protect Insurance Plans||Term Insurance||20 yrs||50 yrs||60 yrs||12,00,000||10 yrs|
|iReturn Insurance Plan||Term Insurance||18 yrs||65 yrs||75 yrs||30,00,000||5 yrs||20 yrs|
|Future Protect Insurance Plan||ULIP||7 yrs||50 yrs||65 yrs||10 * Annual Premium (For policyholders less than 45 years old) ||10 yrs||35 yrs|
|Rising Star Insurance Plan||ULIP||18 yrs||48 yrs||65 yrs||10 * Annual Premium (For policyholders less than 45 years old)||25 yrs|
|Future Protect Plus Insurance Plan||ULIP||7 yrs||50 yrs||70 yrs||10 * Annual Premium (For policyholders less than 45 years old)||15 yrs||25 yrs|
|iMaximise Single Premium Insurance Plan||ULIP||8 yrs||60 yrs||65 yrs||125% of Single Premium||10 yrs|
|Regular Money Back Insurance Plan||Saving Plan||18 yrs||55 yrs||75 yrs||20 yrs|
|iGuarantee Insurance Plan||Savings Plan||12 yrs||50 yrs||56 yrs||10 * Yearly Premium||6 yrs|
|Jeevan Shanti Insurance Plan||Savings Plan||8 yrs||50 yrs||Last Birthday||Based on the Age of the Insured||10 yrs|
|Guaranteed Growth Insurance Plan||Savings Plan||8 yrs||50 yrs||60 yrs||10 * Yearly Premium||10 yrs|
|Group Term Plan||Group Insurance||18 yrs||59 yrs||60 yrs||5000||Renewable after 1 year|
|Group Leave Encashment Plan||Group Insurance||18 yrs||74 yrs||75 yrs||1000||Renewable after 1 year|
|Group Gratuity Plan||Group Insurance||18 yrs||74 yrs||75 yrs||1000||Renewable after 1 year|
|Group Credit Life Plan||Group Insurance||18 yrs||55 yrs||65 yrs||50, 000||60 months (regular)||90 months (limited)|
|iMaximise Insurance Plan||ULIP||7 yrs||55 yrs||70 yrs||10 * Yearly Premium||15 yrs||25 yrs|
The mere promise of protection may not be enough as many customers prefer to see their money grow in sync with the market. This is because they view premiums as monetary investments that must grow with time. Investing in online unit-linked non-participating life insurance plans like the Aegon Life iMaximise Insurance Plan ensures the best available savings and investment solutions at nominal costs. Unlike other Unit Linked Insurance Plans (ULIPs), customers are not required to pay premium allocation charge. This implies value for money investment in addition to availing the protection element.
More than just a life cover, policyholders holding this plan also get to earn capital market returns. Policyholders are allowed to choose from different funds depending on their risk appetite. These funds include
This traditional, unit-linked insurance plan (ULIP) promises insurance along with good returns. Many customers buy Aegon Life Rising Star Insurance Plan to ensure financial security for their loved ones in addition to having a proper financial instrument in place to fund their children’s education in the future.
This is a simple unit-linked insurance plan (ULIP) sans the bonus facility that comes with Invest Protect Option. In addition, the policyholders avail the option to move out their investment funds three years prior to maturity to protect their returns from any adverse impact of volatility synonymous with the stock market.
Customers looking to elevate their returns in addition to avail protection prefer to buy this plan as this involves no premium allocation charges while also increasing the availability of greater choice of funds for investment purposes.
Similar but different – this is what describes Aegon Life Regular Money Back Insurance Plan and defines it distinct from the rest. The company evaluates the sum assured to be given based on the policyholder’s age, the premium charges, and the policy term. While the plan is usually fixed for 20 years from the date of policy inception, the premiums have to be paid for the tenure chosen by the policyholder. This means that the insurance company does not burden its customers by mandating them to pay the entire term of the policy.
Not all customers are comfortable with the idea of investing in market-linked products. Aegon Life iGuarantee Insurance Plan is a safe haven for those who prefer fixed returns. Moreover, the premium paying term for the policy is limited to six years. Interested customers can buy this policy online and do not require to submit any medical tests.
To enable its customers to avail the benefits of both savings and insurance, Company introduced this traditional Endowment Assurance Plan. Simple and non-market linked, Aegon Life Jeevan Shanti Insurance Plan can be bought at low charges. The company gives an option to its customers to choose the policy period throughout which they have to continue to pay the premium amounts.
Nothing spells better than guaranteed death and maturity benefits. Also dubbed as a guaranteed money-back insurance plan, customers buying Aegon Life Guaranteed Growth Insurance Plan are assured 150% of the yearly premium amount each year at the end of the year from the 17th year of the policy period. Also, in the event of the death of the policyholder, the insurance company is liable to give the nominee(s) of the policyholder a fixed amount at the end of every year during the payout period.
Looking for a yearly plan that ensures benefits with just a single premium payment? Well, customers have much to rejoice as the non-linked, non-participating single premium Aegon Insta Pension Plan lends its customers a regular flow of income immediately after paying for the plan.
Aegon understands that the concept of ensuring financial security extends beyond families to professional relationships and hence allows employers to buy plans for their employees. The addition of new employees and the removal of old members is done each month. One of the outstanding benefits of this plan is that the employee is paid 100 percent of the sum assured on being diagnosed with any kind of terminal illness.
A Unit Linked Insurance Plan (ULIP) sold by Aegon Life Insurance Company that funding for leave cash obligations smoothly. Under the Group Leave Encashment Plan, many employers in India have now resorted to allocating a separate fund that the employer can choose to use to pay benefits, if and when necessary.
This group gratuity plan helps to avail the employers the necessary funds for payment of the statutory gratuity obligation as and when required.
Many employer companies are now increasingly investing in Aegon Life Group Credit Shield Insurance Plan to ensure that not only do their employees have a life insurance plan in place but also cover their outstanding loan amounts in the event of their unfortunate demise.
Everyone yearns for a tension-free life. Aegon Life’s Rural Term Insurance Plan is a term insurance plan that necessitates payment of only a single premium amount. This plan keeps the policyholders covered for a maximum period of five years in lieu of single premium payment.
Nothing must come in the way of a child’s education. Aegon Life Insurance Company not only realizes it but ensures that a lack of adequate financial support does not get in the way of fulfilling a child’s dreams. Aegon Life’s Rising Star Insurance Plan ensures that it is enough for the policyholders to pay for their wards’ education, thus, easing their way to a better future.
These are some of the most popular and best insurance plans offered by Aegon life insurance company in India to buy the term insurance policy and plans. You can choose any one of the life term insurance policies and plans according to your budget, features, premium, and other major factors.
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