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  • Aegon Life Term Insurance

     4.5 / 5.0   by 150 users
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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    The Term Insurance policy from Aegon Life enables the families of a policyholder to sustain a similar lifestyle in case of the death of a policyholder. The plan offers protection to your family by providing a life cover in addition to monthly payouts that serve as a form of income benefit. The term insurance policy is perfect for individuals who wish to secure the financial future of their family and for those who wish for their families to receive monthly income in case of their death.

    Awards and Recognition

    AEGON Life Insurance has been awarded the E-Business Leader Award for four years consecutively in 2013, 2014, 2015 and 2016. The E-Business Leader Award is given to insurers who have effectively managed online channels for lead generation, sales and marketing.

    Types of Aegon Life Term Insurance Plans:

    1. Aegon Life iTerm Plan
    2. Aegon Life Term Plan
    3. Aegon Life iReturn Plan Term
    4. Aegon Life iSpouse Insurance Plan

    Aegon Life iTerm Plan
    Features Description
    Entry Age Minimum Age : 18 years

    Maximum Age : 65 Years

    Age at the Time of Maturity 80 Years
    Policy Term Minimum - 5 years

    Maximum – 62 years or Up to 80 Years

    Sum Assured Minimum: Rs 25 lakhs

    Maximum: No Limit

    Premium Payment Term Single or Equal to Policy Term
    Premium Payment Freequency Single, Annual, Semi-Annual, Monthly
    Aegon Life Term Plan

    Feature

    Description

    Entry age

    Minimum: 20 years. (30 years for 10-year policy term)

    Maximum: 65 years

    Age at the time of maturity

    75 years

    Policy term

    Minimum: 10 years

    Maximum: 75 years (age of maturity)

    Sum assured

    Minimum: Rs.10 lacs

    Maximum: No limit

    Annual premium

    Minimum: 2390

    Maximum: No limit

    Premium payment term

    Equal to policy term

    Premium payment frequency

    Monthly, half-yearly and yearly

    Aegon Life iReturn Plan

    Feature

    Description

    Entry age

    Minimum: 18 years completed

    Maximum: 65 years

    Age at the time of maturity

    75 years

    Policy term

    5 / 10 / 15 / 20 years

    Sum assured

    Minimum: Rs.30 lacs

    Maximum: Rs.4 crore

    Premium payment term

    Single / five years / equal to policy term

    Premium payment frequency

    Monthly, half-yearly, yearly, single

    Aegon Life iSpouse Insurance Plan

    Feature

    Description

    Entry age

    Minimum: 21 years completed for both

    Maximum: 60 years (higher age for either spouse cannot exceed 60 years)

    Age at the time of maturity

    65 years completed of either spouse

    Policy term

    5 years minus the higher of the entry age of either spouse

    Sum assured

    Minimum: Rs.25 lacs

    Maximum: No limit

    Premium payment term

    Equal to the policy term

    Premium payment frequency

    Monthly and annual

    Aegon Life Term Plan Features and Benefits:

    • Life cover: customers can avail life cover up the age of 75 years.
    • Tax benefits as per prevailing laws.
    • Inbuilt accidental death benefit: if there is an accidental death, extra accidental benefit equal to 100% of the sum assured will be offered to the customer, subject to a maximum of Rs.1 crore.
    • Death benefit option I: 100% of the sum assured is paid out in case of death of the policyholder.
    • Death benefit option II: 50% of the sum assured is paid out immediately and regular income of 3% is paid every month for the following five years.

    Example of Aegon Life Term Insurance:

    Let’s say Mr. Raj who is 30 years old and holds a senior management position in a multinational company needs to travel often due to work. His family consists of a housewife and two children, both below five years of age. Raj owns a car in addition to his plush house. However, the home and the car were both financed through a loan and Raj is aware of the uncertainty of life, so to ensure that his family will have a similar lifestyle in the unfortunate event of his death, he chooses the Aegon Life Term Insurance policy. The details of his Death Benefit Option II plan are as follow:

    • Base sum assured (cover amount) = Rs.40 lacs
    • Policy term = 20 years
    • Premium payment term = 30 years
    • Inbuilt accidental death benefit = Rs.40 lacs
    • Annual premium = Rs.10,000

    If Mr. Raj dies in an accident three years after the policy was taken out, the total payout will be 330% of the base sum assured = Rs.1.32 crore (Rs.20 lacs as 50% of cover amount + Rs.40 lacs as 100% of accidental death benefit) + Rs.1.2 lacs as 3% of sum assured every month for the following five years. A lump sum figure of Rs.60 lacs will be granted to Raj’s family to help in repayment of loans. In addition, a monthly pay out of Rs.1.2 lacs over the following five years will help them in maintaining their current lifestyle.

    Aegon Life Term Insurance FAQs:

    1. Q. Does the policy have any exclusions?

      A. In case the insured individual commits suicide within a year after the policy commences, the nominee will receive an amount that is 80% of all the premiums that have been paid until the death. Insured benefits will not be provided in this case.

    2. Q. What happens in case I discontinue payment completely or if I fail to make premium payments on time?

      A. If premium payments are not made on time, your policy is at risk of lapsing or acquiring a paid-up value. If premium has been paid for two to three years then a paid-up value will be added to your policy and the benefits you will receive will be significantly reduced.

    3. Q. Can I revive the policy?

      A. Customers have the option to revive their policies within two years from the date on which the last premium was paid after the policy lapsed. The successful revival of a policy can be complete only if all outstanding premiums have been paid along with the applicable interest rate. Death benefits will not be paid in case the insured individual dies within the reinstatement period.

    4. Q. Can I discontinue the plan as and when I please?

      A. Yes, you will be given 30 days of free look period after you have purchased the policy, and if at any time you are not satisfied with any of the terms and conditions of the policy then you can return it within this period.

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

    AEGON Life Term Insurance Reviews

  • Page 1 of 8 1 2 3 4 5
    • Aegon Life Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      The life insurance i am holding since last 4 years. The maturity period is for 30 years it gives the coverage for self. The premium i pay for yearly once. I have purchased it from AEGON LIFE and i had a good experience with this policy. the documentation process is good.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 11, 2018
    • Aegon Life Life Insurance
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance policy from AEGON via bank bazaar, the response and customer service is very good. Claim settlement ratio was above 90% so it was a confident decision in choosing as my life insurance provider. I definitely recommend AEGON
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 08, 2018
    • Aegon Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a term life insurance policy with the Aegon Life. I am paying a premium of 5000 per year, The sum assured is 50 lacs. I am making payments online. Claim settlement ratio was above 90% so it was a confident decision in choosing as my life insurance provider.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 14, 2018
    • 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
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