Aegon Life Insurance - Compare, Buy & Renew Policies Online

Aegon Life Insurance Company Limited launched its operations in India in July 2008. Formerly known as Aegon Religare Life Insurance Company Limited, the vision of the organisation is to offer insurance solutions that would help people plan their lives better. For the fulfillment of this objective, the insurance company has created a complete product suite that serves the varied needs of customers. The insurer also provides customised advice to enhance the overall customer journey.

Aegon Life Insurance was created through a coalition between Aegon, an international life insurance solutions provider and Bennett Coleman & Company, a frontrunner in media services in India. Headquartered in Mumbai, the company serves 4.5 lakh customers across the country.

Life insurance companies offer a wide range of policies to meet the needs of customers with different requirements. There are protection plans, endowment plans, ULIPs, whole life insurance plans, money-back policies, retirement plans, child plans, etc., commonly offered by life insurers in the market. Private life insurer Aegon Life Insurance has a diverse range of products in its lineup to satisfy the requirements of its customers. Based on their investment goals, customers can opt for more than one type of life cover to take care of their insurance needs.

Highlights of Aegon Life Insurance _{Updated on 07 Jun 2023}

Aegon Life Insurance Plan Details:

Aegon Life Insurance Company Limited offers the following types of insurance plans to customers pan-India:

 

Aegon Term Insurance Plans:

A term insurance policy ensures that your dependents do not face financial issues in the case of your sudden demise. You are required to pay a small premium on an annual basis for a specified period of time. In this interval, you will be protected by a life cover. If you face death during the policy term, your dependents are paid the benefits as promised by the insurer.

The term insurance plans offered by Aegon Life Insurance Company Limited are as follows:

• Aegon Life iTerm Insurance Plan
• Aegon Life iSpouse Insurance Plan
• Aegon Life iIncome Insurance Plan
• Aegon Life iReturn Insurance Plan
• Aegon Life Term Insurance Plan
• Aegon Life Easy Protect Insurance Plan

Aegon Life Unit Linked Insurance Plans (ULIP):

When you purchase a ULIP plan, a part of your money is invested across assets like bonds, stocks, etc. This is similar to investing in mutual funds. The remaining money is utilised for the purchase of a life cover that has a specific validity. Buying a ULIP enables you to get returns on your money through investments and remain insured simultaneously.

The unit linked insurance plans provided by Aegon Life Insurance Company Limited are as follows:

• Aegon Life iInvest Insurance Plan
• Aegon Life iMaximize Insurance Plan
• Aegon Life iMaximize Single Premium Insurance Plan
• Future Protect Insurance Plan
• Rising Star Insurance
• Future Protect Plus Insurance Plan

Aegon Life Retirement Plans:

A retirement plan offers you benefits in the form of monthly pensions post retirement. You are required to bear the premiums for a specific duration. After you enter into retirement, your financial security will be enforced through the benefits of the pension plan.

The retirement plan offered by Aegon Life Insurance Company Limited is Aegon Life Insta Pension Plan.

Aegon Life Child Plans:

The child plans from Aegon Life Insurance Company Limited assists you in securing your child’s future by providing financial assistance to meet all their needs. The child plan offered by Aegon Life Insurance Company Limited are:

• Aegon Life Rising Star Insurance
• Aegon Life Educare Advantage Insurance Plan

Aegon Life Rural Plans:

The rural plan is a low cost product that is specifically designed to meet the unique life insurance requirements of the people in rural areas of the country. The rural plan offered by Aegon Life Insurance Company Limited are:

• Aegon Life Rural Term Insurance Plan
• Aegon Life Group Gratuity Plan
• Aegon Life Group Leave Encashment Plan
• Aegon Life Group Credit Life Plan
• Aegon Life Group Term Plan
• Aegon Life Group Credit Shield Insurance Plan

Aegon Life Group eInsurance Plans:

Group insurance plans provide insurance coverage to a group of people such as the employees of a company or the members of an association. The group plans offered by Aegon Life Insurance Company Limited help the policyholder set aside a definite sum of money that can be utilised later for meeting gratuity, life insurance, and loan repayment needs of the members.

The group insurance plans offered by Aegon Life Insurance Company Limited are as follows:

• Aegon Life Group Credit Shield Insurance Plan
• Aegon Life Group Term Plan
• Aegon Life Group Leave Encashment Plan
• Aegon Life Group Gratuity Plan
• Aegon Life Group Credit Life Plan

Aegon Life Additional Plans:

Some other insurance plans offered by Aegon Life Insurance are:

• Aegon Life Guaranteed Growth Insurance Plan
• Aegon Life iGuarantee Insurance Plan
• Aegon Life Jeevan Shanti Insurance Plan
• Aegon Life Regular Money Back Insurance Plan
• Aegon Life Jeevan Riddhi Insurance Plan
• Aegon Life iCancer Insurance Plan

Aegon Life Insurance Company Offices:

Aegon Life Insurance Company Ownership

Multinational insurance service provider Aegon N.V. is the largest shareholder in the company with 49% ownership. The Times Group, also known as Bennett Coleman & Co. Ltd, is another major shareholder with 44% stake in Aegon Life.

Awards won by Aegon Life Insurance Company Limited:

2008

• Aegon Religare Life Insurance was presented ‘Cordy’s Best Implementation Awards 2008’
• Aegon Religare Life Insurance was presented the ‘Global Awards 2008’ for Excellence in BPM & Workflow

2009

• Aegon Religare Life Insurance was presented the ‘Outdoor Media plan of the year Local Award’ at Outdoor Advertising Awards 2009
• Aegon Religare Life Insurance was presented the ‘Bronze-Award’ for Integrated Advertising Financial Services presented by Abby Awards at Goa-fest 2009
• Aegon Religare Life Insurance was presented the ‘Global Awards 2009’ for Excellence in BPM & Workflow

2010

• Aegon Religare Life Insurance was presented the ‘CIO 100- Innovations Award 2010’ by Wipro
• Aegon Religare Life Insurance was presented the ‘EDGE 2010 Award’ for E-Sales Project for using IT to maximize business impact

2011

• Aegon Religare Life Insurance was presented ‘Edge 2011- Silver Award’

2012

• Aegon Religare Life Insurance was presented ‘APAC CIO Leadership Retreat and CISO Forum Award 2012- for Outstanding Achievement’

2013

• Aegon Religare Life Insurance was presented the ‘Most Recommended Life Insurance Brand 2013’ by Mouthshut.com
• Aegon Religare Life Insurance was presented the ‘E-Business Leader Award’ at the Indian Insurance Awards 2013
• Aegon Religare Life Insurance was presented the ‘Best Product and Distribution Award’ at the Indian Life Insurance Award 2013, by EDGE Advisory Services

2014

• Aegon Religare Life Insurance was presented the ‘E-Business Leader Award’ at the Indian Insurance Awards 2014
• Aegon Religare Life Insurance was presented the ‘Mumbai Hot-50 Award 2014’ by Hindustan Times
• Aegon Religare Life Insurance was presented the ‘Marketing Campaign of the Year’ award at the Global Marketing Excellence Awards 2014 for Wonder Cook Customer Engagement Activity

2015

• Aegon Religare Life Insurance was presented the ‘Best use of gamification to enhance loyalty award’ at the 8th Loyalty Summit Awards 2015 for Operation Engage
• Aegon Religare Life Insurance was presented the ‘E-Business Leader Award’ at the Indian Insurance Awards 2015

2016

• Saba Adil, Chief People Officer at Aegon Life Insurance was presented the “100 most influential HR Leaders in India” award at the World HRD Congress 2016
• Aegon Life was presented ‘Best Service Quality Program Award’ at the Service Quality Awards 2016
• Aegon Life was presented ‘Celent Model Insurer Asia Award 2016’ in Data Mastery and Analytics Category
• Aegon Life was presented the ‘E-Business Leader Award’ at Indian Insurance Awards 2016
• Aegon Life was presented ‘Best Marketing Campaign Of The Year’-Insurance Sector at Golden Star Awards 2016
• Aegon Life was presented ‘Best Use Of Technology’-Insurance Sector award at Golden Star Awards 2016
• Aegon Life’s ‘Simple Makes Sense’ Brand Campaign was recognized by Facebook as a Success Story and published as ‘Best International Brand and Campaigns’, a Case Study
• The Aegon Life Gif case study was recognized by Gold’s, at the Middle East Social Media & Digital Marketing Leadership Awards held in Dubai in Oct -16

Aegon Life Insurance Company Limited - Board of Directors and Shareholding Pattern:

Board of Directors:

Mr. Vineet Arora

Mr. Ramaswamy Gopalkrishnan

Mr. Sam Subramaniam

Mr. Andrew Byrne

Mr. Marco Keim

Mr. Patrick Curtin

Ms. Sivakumar Sundaram

Mr. Ketaki Gupte

Mr. N Kumar

Mr. Srinivasan V

Mr. Nani Javeri

Management Team:

Mr. Vineet Arora – Managing Director and Chief Executive Officer

Mr. R Sankaranarayanan - Chief Operating Officer

Mr. Saibal Ghosh - Chief of Investments and Business Development

Mr. Rajeev Chugh – Chief Financial Officer

Mr. Souvik Jash - Appointed Actuary

Ms. Saba Adil - Chief People Officer

Mr. Martijn de Jong - Chief Digital Officer

Mr. Jitin Parekh - Head of Legal, Company Secretary and Project Management

Mr. Anil M Agrawal - Head of Compliance

Mr. Lee Waddle - Chief Risk Officer

Pattern of Shareholding:

How to Settle a Life Insurance Claim with Aegon Life - Claim Documentation and Process:

Aegon Life Insurance Company Limited has a three-step claims process that is designed to settle all valid claims with minimal hassles and within the quickest turnaround time.

• Step 1 - Intimation of Claim : The claimant is required to submit the duly filled claim forms and other relevant documentation at the nearest branch of Aegon Life Insurance. The claim form templates can be downloaded from the insurer’s website.
• Step 2 - Payment of Fund Value : In the case of a death claim, Aegon Life Insurance pays the fund value that was accrued under the policy to the beneficiaries of the insured. All relevant documents need to be submitted by the claimant to receive the payout.
• Step 3 - Settlement/Payout : When the insurance company receives all necessary documents from the claimant, they will commence the claims process at the earliest possible time. If any further clarifications are needed, they will get in touch with the claimant. If all submitted documents are as per the requirements, Aegon Life Insurance will release the death benefit/rider benefit/balance amount to the claimant.

Aegon Life Insurance also enables claimants to settle claims through National Electronic Fund Transfer (NEFT). In this mode of claim settlement, the claim amount is directly transferred to the bank account of the beneficiary. For this payment method, the beneficiary is required to provide his/her bank account details at the time of raising the claim.