• Aegon Life Group Term Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    Overview

    Aegon Life Group Term Plan helps you to provide basic financial security to your employees. The members of the group are provided a life insurance plan so that the employees’ family’s needs are looked after. The sum assured can be decided by the members.

    Eligibility Conditions of Aegon Life Group Term Plan

    Size of group

    Minimum - 50 members

    Maximum – No limit

    Entry Age

    Minimum – 18 years

    Maximum – 59 years

    Age at maturity

    60 years

    Policy term

    1 year, renewable

    Key Features of Aegon Life Group Term Plan

    Type

    A traditional non-participating group term plan.

    Basis

    Group

    Coverage

    Death Benefit: In the event a member dies during the policy term, his nominee will receive the sum assured.

    Documented evidence must be produced for claiming this benefit. The nominee will have to submit a claim form along with the death certificate issued by the local authority, certificate from a doctor or medical officer certifying cause of death or FIR, whenever applicable. Additional documents may be required depending on the cause of claim.

    Maturity Benefit: There is no maturity benefit provided.

    Surrender Benefit: No benefit is payable if the policy is surrendered.

    Sum assured

    Minimum – Rs.5,000 per member

    Maximum – Rs.2 lakhs per member

    Premium amount

    Minimum: Depends on the group size and the sum assured

    Maximum: No limit

    Premium paying frequency

    Monthly, quarterly, half-yearly and yearly.

    Monthly frequency is to be paid via ECS only.

    Renewal

    The policy can be renewed by giving one month’s notice prior to the expiry date. There is no grace period for renewal of the policy.

    Riders

    Not available.

    Bonuses

    No bonus offered.

    Surrender

    Policy will not acquire any surrender value throughout the term.

    Loan

    Not available.

    Free look period

    If you are not satisfied with the policy, then the policy can be returned from 15 days from the date you have received the policy.

    If you have purchased the policy through distance marketing, then the policy can be returned in 30 days from the date that you received the policy.

    On cancellation you will be receive the premium after the cost of stamp duty and proportionate premiums have been deducted.

    Grace period

    The policyholder will get 30 days grace period from the premium due date.

    Tax benefits

    Tax benefits are as applicable by law.

    Nomination

    Nomination is made compulsory with the provision of Section 39 of the Insurance Act 1938.

    Suicide Exclusion

    If a member commits suicide, from one year from the effective date of coverage, the insurance with respect to that member will cease and the premium will be refunded without any interest.

    Termination

    The policy is terminated if it is not renewed before the date of renewal.

    Inclusion and exclusion

    Members of the group can be included or excluded on a monthly basis.

    Reinstatement

    If the premium is not paid in the grace period, the policy will be terminated and you will not have the reinstatement option.

    Advantages of Aegon Life Group Term Plan

    The advantages of Aegon Life Group Term Plan are:

    • You get Death Benefit on death of a member, the nominee will receive the sum assured.
    • You can avail tax benefits or exemptions as per the applicable tax laws in India.
    • You have the option to choose the cover amount.
    • The policy is available at an affordable cost.
    • The policy can be renewed every year.

    How The Plan Works

    You can choose the sum assured ranging from Rs.5,000 to Rs.2 lakhs. The policy can be taken for a maximum of 1 years and premium can be paid either through monthly, quarterly, half-yearly and yearly. The monthly premium can only be paid through ECS.

    The master policyholder has to decide on the number of people in the group and then choose the amount of protection that the members need. The sum assured is derived from the basis of the member’s salary, flat or fixed cover for the members or through a grade wise cover.

    Premium Payment and Riders

    You can pay the premium annually half-yearly, quarterly or monthly. The minimum premium amount is based on the group size and the sum assured that is opted. There is no upper limit on the premium payment. If you miss the premium payment, you get 30 days grace period to pay the premium.

    There are no riders available with this policy.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    AEGON Life Group Term Plan Reviews

  • Page 1 of 8 1 2 3 4 5
    • Aegon Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold the AEGON LIFE term insurance policy around a year ago. The customer support service and the response is good with the AEGON LIFE and I get good plan benefits and the policy coverage with this policy and I am satisfied using this AEGON LIFE insurance policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • Aegon Life Life Insurance
      "Poor Service"
      0.5 1.0/5 "Really Bad"
      I have a term insurance Policy with the Aegon life. I canceled this policy. There was a mess with the payments and documentations. I will not recommend their services to anyone. They need to treat their customer in a smooth manner. Overall it was not a good experience with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 12, 2018
    • Aegon Life Life Insurance
      "Awesome Service"
      0.5 5.0/5 "Blown Away!"
      I've a Term life insurance policy with Aegon Life. They deliver Fantastic service. Customer service is awesome and their Responses are prompt. They offer Professional services, the way they respond. Overall I am impressed with the services provided by Aegon life.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 24, 2018
    • Aegon Life Life Insurance
      "Good Term Policy"
      0.5 3.5/5 "Pretty good"
      Tool this term life insurance from Aegon. Overall policy is good but customer support is not good. Incorrect email entered in the policy document and as a result I have to chase after Insurance company to change thw details. That whole process took almost a month.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 30, 2018
    • Aegon Life Life Insurance
      "Life insurance with AEGON"
      0.5 4.0/5 "Great!"
      I have taken a life insurance from AEGON LIFE and the premium amount is 13600. The total maturity period is for 40 years. They do provide accidental benefits and illness coverage up to 20 lakhs. after death they will give provide 1 core to the family.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 22, 2018
    • Aegon Life Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I have a term plan insurance with Aegon. Compared to other companies it was good. It was recommended by friend. The response was not immediate. I used to pay yearly 18K through online. It was taken recently 8 months back. The policy coverage and benefits are good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2018
    • Aegon Life Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Aegon Life insurance service is good. I have taken one policy with Aegon for the term period of 15 years. The new schemes and offers are good they use to update me regularly. It was totally a excellent service from Aegon Life insurance service.
      Was this review helpful? 0
      , kanpur
      Reviewed on Mar 03, 2018
    • Aegon Life Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken Life Insurance with Aegon Life,the premium amount is 36,000 paid per annum,the policy is for 15 years,the total policy coverage is 4.6 lakhs,plan name is Maxima,its a kind of investment policy,the process took almost two days of time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 26, 2018
    • Aegon Life Life Insurance
      "Good for Me and My Family"
      0.5 5.0/5 "Blown Away!"
      Last three month back I purchase Aegon life through online channel. The plan benefits are good, I get the maturity benefits of Rs. 34 lakhs after 25 Years . In case of any loss, my nominees get the amount of Rs. 7.50 lakhs. I make monthly premium around Rs. 5000 monthly month its fine.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • Aegon Life Life Insurance
      "Good Coverage for family"
      0.5 4.0/5 "Great!"
      I took life insurance from Aegon before three years, at the time I came across it. Hence I availed that term insurance for my family, the premium was around Rs. 30k per annum but I am not sure about the tenure. I have selected sum assured which is suitable for family. I do have critical illness cover.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 08, 2018
    • Aegon Life Life Insurance
      "Best"
      0.5 4.0/5 "Great!"
      I do have life insurance policy with the Aegon life insurance company. I feel that they are good too. I have not experienced their claims till now. Plan benefits are fine one with the Aegon life insurance company and everything is good one with them till now.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 07, 2018
    • Aegon Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken Life Insurance with AEGON.I pay a premium of 1.7 lakhs per annum as i hold four policies with them, i get a policy coverage of 1.25 crores.I don't have a claim experience with them.The premium is paid through online.The website is easy to understand.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 21, 2017
    • Aegon Life Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken term insurance with Aegon 3 months back. The plan benefits and policy coverage are good. They charging lower premium compared to others. I pay monthly around 820 rupees through online banking. Incase of any death they will give 1 crore. For accidents it will be 1.37 crores.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 04, 2017
    • Aegon Life Life Insurance
      "Life insurance"
      0.5 4.0/5 "Great!"
      AGEON religare is good, where we can use the amount of life coverage but they take very meager premium. The benefits are like are the best coverage, The tenure i guess is 60 years. Re payment options are good as i make the payment on a yearly basis . Further, I make the payment through online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • Aegon Life Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Aegon Religare and I have gone it through an agent. It came in few days of time, also I am happy with them till now. I have not much experienced with them about their policy and the coverage.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 16, 2017
    • Aegon Life Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life insurance from AEGON LIFE. The total policy period is for 80 years. The monthly premium amount is 1158.Its a term insurance.Only after my death my family will be get benefited. I have linked my credit card with insurance policy were it will be auto deducted.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 10, 2017
    • Aegon Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      Got the Aegon Life insurance policy for past 15years. I pay the premium through online. I pay around Rs,15,000 per year. The customer support is good with Aegon life . The plan benefits and the coverage is good with this policy. This policy has the tenure of 15years, still 7more years are left to maturity.
      Was this review helpful? 0
      , karaikudi
      Reviewed on Nov 06, 2017
    • Aegon Life Life Insurance
      "Awesome!!"
      0.5 5.0/5 "Blown Away!"
      Around 5 years ago I got the Life insurance policy with Aegon life . I pay Rs,5000 towards this policy in every 6 months once. This policy has the tenure of 15 years. the plan benefits and the coverage is good with this policy. I would say the Aegon life insurance policy is a good policy to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 02, 2017
    • Aegon Life Life Insurance
      "Good policy"
      0.5 2.0/5 "Expected more"
      Around 5years ago I got the Life insurance policy with Aegon life . I pay Rs,5000 towards this policy in every 6months once. This policy has the tenure of15years. the plan benefits and the coverage is good with this policy. I would say the Aegon life insurance policy is a good policy to use.
      Was this review helpful? 0
      , bareilly
      Reviewed on Oct 30, 2017
    • Aegon Life Life Insurance
      "Good Insurance"
      0.5 4.5/5 "Excellent!"
      Through online channel I have taken life insurance, comes term insurance from Aegon life, I took the policy cover of Rs. 1.4 crore, my family will get the reimburse amount on monthly basis . I am paying low premium it has good protection for the nominees.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
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