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  • Aegon Life Women CI Rider

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    The Aegon Life Women Critical Illness rider is an add-on plan or rider that is designed exclusively for women, keeping their wellness benefits in mind. The rider can be attached to an existing Aegon Life insurance policy, providing extra coverage in terms of a wider range of illnesses and conditions that would be covered. The rider also has a unique benefit structure, with a portion of the sum assured being paid on the policyholder contracting a particular illness from one of two groups. The rider, while attached to the base policy, can be availed for a minimum of 10 and a maximum of 40 years, providing extensive coverage over a long period of time.

    The rider is a single life cover, available only to female policyholders.

    Eligibility - Who is the Aegon Life Women Critical Illness Rider for?

    The Aegon Life Critical Illness Rider was designed to protect female policyholders by providing them with critical illness coverage specific to their gender. This rider covers illnesses and conditions that are more likely to affect women and is thus a targeted rider that provides comprehensive coverage. The eligibility criteria are as under:

    Parameter Group I Group II
    Entry age Minimum- 20 years Maximum- 65 years Minimum- 20 years Maximum- 35 years
    Maturity age 75 years 40 years
    Rider term 10-40 years 10-40 years
    Premium paying term Subject to rider term
    Premium paying frequency Subject to base plan

    Sum Assured and Premium Range - What you get and what it costs?

    Sum Assured:

    The sum assured is the guaranteed amount that the policyholder stands to receive, excluding any bonuses or add-ons. The rider has two groups that have categorised the critical illnesses available under each. Both groups are available to policyholders provided the eligibility criteria for each is met. The table below illustrates the same:

    Group I Group II
    5% of base sum assured Minimum- Rs.1 lakh Maximum Rs.5 lakh 2.5% of base sum assured Minimum- Rs.50,000 Maximum- Rs.5 lakh

    Premium:

    The premium is the amount that the policyholder is required to pay as a charge for the insurance services being provided. The premium amount would be subject to the sum assured amount, the age of the policyholder, the rider term etc.

    Plan Coverage - What the Aegon Life Women Critical Illness Rider covers?

    The following is the coverage provided by the Aegon Critical Illness Rider:

    • The rider is added to an existing insurance policy, with the policyholder given a choice of term. The rider term cannot exceed the policy term.
    • The sum assured amount is to be selected, based on which the premium amount would be calculated.
    • The premium would be paid as per the premium paying frequency of the base plan (either regular or single).

    The coverage provided by the rider is listed below:

    The rider covers critical illnesses that are divided into groups. The illnesses in each group are as follows:

    Group Illnesses covered
    Group I Malignant cancer of the female organs
    Group II
    • Birth of a child with congenital disorders/surgeries
    • Pregnancy complications

    The illnesses covered under Group I are as follows:

    • Malignant cancer of the female organs, which is defined as a malignant tumour resulting in the uncontrolled spread of cancerous cells with destruction of normal tissues. The cancer diagnosis is to be supported by histological evidence and includes leukaemia, sarcoma and lymphoma. The list of cancers covered under this group are given below:
      • Breast
      • Cervix uteri
      • Ovary
      • Vulva
      • Vagina
      • Corpus uteri.

    The illnesses covered under Group II are as follows:

    • Birth of a child with congenital disorders/surgeries, with the disorders or surgeries that are covered under the rider mentioned below:
      • Open heart surgical repair of ASD
      • Open heart surgical repair of VSD
      • Surgical repair of tetralogy of fallot
      • Surgical repair of transposition of great vessels
      • Confirmed diagnosis of Down’s syndrome.
    • Pregnancy complications as specified below:
      • Diagnosis of molar pregnancy
      • Undergoing of hysterectomy due to postpartum haemorrhage.
      • Diagnosis of disseminated intravascular coagulation (DIC) during the pregnancy.

    Riders/Add-ons:

    As this is a rider, there are no additional add-ons that are associated with this policy.

    Exclusions - What the Aegon Life Women Critical Illness Rider doesn’t cover?

    The rider covers certain critical illness as mentioned above. There are exclusions under which circumstances the company would not pay any benefit, with the exclusions listed below:

    • Malignant cancer of the female organs: The following are excluded from coverage under the rider:
      • Carcinoma in-situ or tumours that are histologically described as pre-malignant or non-invasive, which include but are not limited to carcinoma-in-situ of the breasts, cervical dysplasia (CIN-1, CIN-2 and CIN-3), vaginal intraepithelial neoplasia (VAIN), and vulvar intraepithelial neoplasia (VIN).
      • All cancers and tumours due to HIV or any conditions arising out of AIDS.
      • All tumours that have metastasized from organs other than the breast, fallopian tube, cervix, uterus, vagina and vulva.
    • Birth of child with congenital disorders/surgeries: The following are excluded under this rider:
      • Children born before the rider was purchased or within one year of the commencement of the rider.
      • Age of policyholder during the delivery should be lower than 40 years.
      • Children born via surrogate mother or adopted children.
      • Birth of child with congenital disorder when the policyholder is a carrier of a surrogate pregnancy.
      • Disseminated intravascular coagulation arising during the first 7 months of pregnancy.
      • Any complication arising out of fertility treatments such as surrogacy or in-vitro fertilisation.

    Other Key Features- Freelook Period, Surrender Value, Grace Period etc.

    Additional features and benefits are listed below:

    Free look period If the policyholder is not satisfied with any of the terms of the rider, she may choose to return the rider during the free look period. The free look period is 15 days from the date of receipt of the policy document (30 days for distance marketing policies).
    Attaching or detaching rider The rider can be attached to a policy at any time during the policy year. The rider can be detached from the following premium due date after the detachment request has been made.
    Termination The rider will be terminated on maturity of the base policy.

    Tax Benefits - How You Can Save With the Aegon Life Women Critical Illness Rider?

    As this is a rider, all tax benefits would be applicable on the base policy.

    Other Benefits - How You Can Save With Aegon Life Women Critical Illness Rider?

    The Aegon Life Women Critical Illness Rider provides policyholders with coverage if they contract the critical illnesses as mentioned in the policy document. In addition to this, Aegon Life also offers its policyholders a number of benefits and advantages.

    Policyholders can choose to pay their rider and base premium amount either online or offline, based on their convenience. Online modes for premium payment include netbanking, credit or debit cards, standing instructions or NEFT.

    Filing a claim is also a simplified process and policyholders can avail assistance at every step courtesy the customer care services provided by the company. Tracking a claim can be done online or by contacting the customer care helplines, ensuring policyholders have easy access to their claim status.

    Policyholders looking to add the Aegon Life Women Critical Illness Rider to an existing policy can calculate the additional cost they will have to bear by using the premium calculators on the Aegon Life website. At the tap of a few buttons, policyholders will have a detailed break-up of their projected premium amount.

    Why you should buy the Aegon Life Women Critical Illness Rider from Aegon Life?

    The Aegon Life Insurance Company Limited was established in the year 2008 and has been one of the premier life insurance companies in the country. Formerly known as AEGON Religare Life Insurance Company, it is currently a joint venture between the Bennett, Coleman & Company Ltd and Aegon, one of the foremost names in the financial services sector.

    Its ease of claim processing as well as its product range that caters to different segments of the Indian populace distinguish it from its competitors. The company provides a comprehensive range of life insurance services that are customer-centric and operates out of 53 branches across the country.