Aegon Life Term Insurance Calculator

Aegon Life Term Insurance Calculator

A joint venture between Times Group and Aegon Group, Aegon Life Insurance started its operations in July 2008. It is considered among the most trusted insurance providers in the country’s insurance sector, featuring a claim settlement ratio as high as 98.01% in FY 2019-2020.

Aegon Life Insurance offers comprehensive protection plans that are affordably priced and backed with attractive benefits and features. They are carefully designed to cater to various needs of individuals at different stages of life. In addition, the Aegon Life term insurance calculator is a helpful tool that helps the policy buyers to determine the suitable premium amount payable based on their requirements. Further, the term insurance premium calculator also helps the policyholder in financial planning.

Benefits of Aegon Life Term Insurance Calculator

  • Convenience: You don’t need to submit any documents when you calculate premiums for your Aegon Life term insurance plans using the Aegon Life term insurance calculator. You get a quote instantly, which helps you in making a buying decision.
  • Assists in comparing term plan quote: Aegon Life term insurance premium calculator assists you with comparing quotes from various term insurance plans, which can help you settle on the right term plan. 
  • Saves Time: The Aegon Life term insurance premium calculator helps in saving significant time by calculating the exact premium payable by you in just a few seconds. It recommends the right term insurance plan that suits your necessities. 
  • Cost-Efficient: With the help of the Aegon Life term insurance calculator, you can decide on the highest possible sum assured amount which is best suited to your requirements. 

Aegon Life Term Insurance Plans 

Below are the details about term insurance plans offered by Aegon Life Insurance:

  1. Aegon Life iTerm Insurance Plan: Aegon Life iTerm Insurance Plan is a complete protection plan that offers life coverage till the age of 100 years. This term plan comes with an inbuilt Aegon Life Critical Care Rider that provides payout on the diagnosis of 36 listed critical illnesses in the policy document. It also covers COVID-19 death claims. 
  2. Aegon Life Saral Jeevan Bima: It is a standard term insurance policy with easy-to-understand terms and conditions. This term plan is carefully designed to provide financial security to your loved ones during any unfortunate situations like your absence. This term gives you the flexibility to choose from different policy terms, premium payment options, and Accidental death riders for better coverage. 

Benefits of Aegon Life Term Insurance Plans

Aegon Life Term protection plans are affordable and intended to cater to different requirements of the policyholders. As a result, Aegon Life Insurance boasts an impressive claim settlement ratio of 98.01% in the FY 2019-20. 

  • Cost-Effective: Term insurance plans by Aegon Life Insurance are great cost-effective protection plans. While the coverage for the term insurance plans stays high, the premiums are considerably on the lower side. This is known to be one of the critical advantages of Aegon term insurance plans. 
  • Flexible Death Benefit Option: Aegon life term insurance plans offer their clients flexible payout choices for death benefits, including lump-sum payment option, fixed monthly income for around 100 months, or a combination of the two.
  • Longer Coverage: Generally, the majority of term insurance plans offer life cover to an individual for as long as 70 to 80 years old; however, Aegon life term plans offer coverage for as long as 100 years old. Hence, making it one of the term plans in the market offering the longest tenure.
  • Tax Benefits: According to sections 80 C and 10(10D) of the Income Tax Act, 1961, premium payable and total payout amount received from term insurance plans come under tax exemption.

 

FAQs:

What if the policyholder starts smoking after buying the Aegon term insurance plan?

In case the individual starts smoking or drinking, it will possibly decrease their life expectancy. However, to avoid claim rejection and future hassles, the policyholder should disclose all the details to the insurer at the time of purchasing the policy.

Can I file a claim in case of accidental death?

Aegon Life Insurance covers accidental death and pays the sum assured amount to the nominee. Moreover, there are various riders such as critical illness riders, accidental death benefit riders, which you add to the base policy to enhance the existing coverage.

What are the various ways to report a claim at Aegon Life Insurance?

The various ways to report a claim at Aegon Life Insurance are by:
Submitting completed claim forms along with required documents at the closest Aegon Life Branch Office.
Submitting completed claim forms along with other documents at the Aegon Life Insurance Head Office.
Calling the insurance company at toll-free customer care number- 1800-209-9090
Visiting Aegon Life Insurance website.

What is the best way to calculate premiums for Aegon Life term insurance plan?

The Aegon Life term insurance plan premiums are calculated based on the policyholder's gender, age, occupation, coverage, lifestyle habits, etc.

How much time does Aegon Life Term insurance plans take to settle claims?

According to the Insurance Regulatory Development of Authority India (IRDAI) guidelines, insurers are required to settle claims within 30 working days upon receiving the required documents.

What will happen if the policy does not have any nominations or the policyholder and the nominee die in the same event?

In case the policyholder and the nominee die in the same event, then such a claim is considered an open title claim, and the claimant needs to submit the Succession Certificate or Probate of the will.

What is a Critical Illness Cover under Aegon Life term insurance?

Critical illness cover is an add-on rider benefit available under with Aegon term plan. It provides a lump sum amount to the policyholder if diagnosed with listed 36 critical illnesses. There are no restrictions on the hospitals or against the expenses incurred.

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