FAQs

Insurance Basics

What is Life Insurance?

Life Insurance is a contract between the policyholder and the insurance company, where the life insurance company pays a specific sum to the insured individual's family upon his death. The life insurance sum is paid in exchange for a specific amount of premium.

How do I determine how much life insurance I need ?

A good thumb rule is to take your annual gross earning and multiply it by 12. Then add the amounts of loans outstanding and reduce any savings or liquefiable assets that you may have. That should be the right insurance amount.

Do I need Life Insurance?

A life insurance policy provides you with the peace of mind that comes from knowing that your dependents will be financially secure even when you are not there for them, which is absolutely invaluable.

The need and benefits of Life Insurance

Here are the main benefits of life insurance Protection: Do you have any loans in your name, like a home or car loan? Remember, in case of your death, it is your family that will have to pay off this debt. In case they fail to do so, the financial institution involved can forcefully take possession of your house or car. A life insurance policy can ensure that nothing like this happens. It thus helps you protect your assets. Savings: There are different types of life insurance policies available today. Some of these can even help you save for life as a retired individual. These insurance plans, like Money-Back or Endowment, can help you save for the future. They promise an assured sum after a certain period of time or your retirement, which can be a huge help at a later date. Wealth-creation: Who doesn’t like a little extra money? Insurance can even help you increase your wealth. Insurance policies like Unit-Linked Insurance Plans (ULIPs) earn you a return by investing a portion of your premium payments in capital markets. These insurance plans, thus, have a dual benefit—protection and investment. Tax-savings: Whatever amount you pay as premium – be it a life or a health insurance plan, can lower your total taxable income. Under sections 80C and 80D of the Income Tax Act, you can avail tax exemption on your insurance payments. This helps you save even more money!

Tax Related

What are the sections under which I can claim for tax benefit?

You can claim under section 80 C & 80 D.

By when would I get the Provisional Tax certificate?

The Provisional Tax Certificate would be sent every year from the month of November onwards. The same would also be available on the customer portal for download.

Document Related

How can I get a copy of my e-welcome kit/policy document? Do we also send hard copy of policy?

For online policy - Once the policy is issued, the soft copy of policy document would be sent to your registered email id within 4 working days. For offline policy - Once the policy is issued, the soft and hard copy of policy document would be sent to your registered email id and mailing address within 4 working days.

How can I get a duplicate physical copy of my policy document?

There is an indemnity bond that needs to be printed on a 200 rupees non judicial stamp paper, notarised & signed. The same then needs to be either submitted at the nearest branch if available or sent via courier to the Head Office. The same gets processed in 10 working days and gets sent via courier to the registered mailing address.

ULIP Transacions

How do I switch funds in my policy and redirect the future premiums?

You can do a fund switch online on the customer portal. You can also call on the toll free number and give the request. You can also give the request at the nearest branch if available.

What is a Trigger folio?

Trigger Folio is where the premiums paid are invested in Accelerator Fund. As soon as the fund value under Accelerator Fund is equal to or more than 110% of all the premiums paid to date, the excess amount will be switched to Secure Fund. By doing this, the growth that has been achieved in the Accelerator Fund is always protected in the Secure Fund.

How do I delete the Trigger folio strategy in my policy?

The request for deletion can be given either by calling on the toll free number or by sending an email from the registered email id to customer care email id.

How do I Top-up my policy?

You can do a top up online on the customer portal. You can also give the request at the nearest branch if available.

How do I get a copy of my unit statement with all my transaction details?

The unit statement would be send at the end of every financial year to the customer mailing address. The same would also be available online on the customer portal for download.

How do I request for Partial withdrawal of the funds linked to my policy?

The request of partial withdrawal can b given from the registered email id or at the nearest branch. We would required a signed application letter along with cancelled cheque, NEFT Form and pan card copy.

How do I cancel my policy during the free look (review) period?

For online policy - We need an email from the registered email id mentioning the same along with cancelled cheque, neft form and pan card copy. For offline policy - Application letter along with cancelled cheque, neft form and self-attested pan card copy.

How do I surrender my policy?

If there is no branch in the city where customer resides in at the moment, we need 5 documents to be sent via courier to the HO - original policy document, self-attested pan card copy, cancelled cheque, neft form and application letter. However, if there is a branch in his city, he needs to approach the branch with 3 documents - original policy document (for reference & not for submission), self-attested pan card copy and cancelled cheque.

How do I get my policy maturity amount?

We would ask for NEFT details approx. 2 to 3 months in advance from the cm. In case NEFT details are updated, we would transfer the maturity amount via NEFT and if not updated, we would send the maturity amount via cheque through courier to the cm's mailing addr.

How do I get my policy benefit pay-outs during the policy term?

We would ask for NEFT details approx. 2 to 3 months in advance from the cm. In case NEFT details are updated, we would transfer the policy benefit pay-outs via NEFT and if not updated, we would send the policy benefit pay-outs via cheque through courier to the cm's mailing addr.

Claims

Who is entitled to receive the Death Claim benefit?

The claim monies can be received by any of the following:

  • Nominee* or Appointee (in case the nominee is a minor)
  • The proposer, in case you are not the Life Assured
  • Assignee, in case policy has been assigned
  • Legal Heirs, in case of open title case or rival claimant case
  • Life Assured, in case of living benefit claims such as, claims under disability, critical illness and health claims

* Nominee is the person you appoint at the time of purchasing the policy for receiving the benefits of your insurance policy in your absence. ^Life Assured is the person for whom the life/health insurance policy has been issued.

What happens if there is no nomination in the policy or when Life assured & nominee dies in the same event?

Such claim is considered as Open Title claim. In such an eventuality a Succession Certificate or Probate of will is to be submitted by the Claimant. A Succession Certificate is issued on application by a competent court on the question of the right to the property of the deceased. The Succession Certificate should specifically provide for disbursement of policy monies. If, however, the deceased has left a will, a probate of the will is required along with the copy of the will. If we have accepted the claim but are waiting for the issued certificate of proof, we hold the money till the proof is submitted and pay interest as directed by the Insurance Regulatory and Development Authority of India.

What if there are two or more nominees, how will the Policy Monies be paid?

The claim will be paid to nominees according to the percentage declared in the proposal. A joint discharge will have to be given. Alternatively, all the nominees can give a joint discharge and NOC (No Objection certificate) for payment of claim benefits in favor of one nominee, in which case the claim proceeds would be made in the name of the designated nominee.

If the nominee dies during the tenure of the Policy, What is the next step the Life Assured should do?

The Life Assured should nominate another person in place of the deceased Nominee under section 39 of the Insurance Act.

Are terrorist attacks covered by our policies?

Please note that all Death Benefit Claims under Base Plan caused on account of Terrorist Attacks are covered by our policies. However, Accidental death benefit rider excludes war, terrorism, invasion, act of foreign enemy, hostilities, civil war etc. and hence benefit under ADDD will not be payable if the insured event is a result of terrorist attacks.The above condition is specified under the Terms and Condition of Accident death benefit rider.

What is the time frame within which the claim has to be reported after the date of event?

All Claims including death claims should be intimated as soon as possible, to help us process it faster.If there has been any delay in reporting the claim, the reason for the same should be justified in writing by the claimant.

How do I intimate/report my claim?
  • a. Submit duly completed claim forms and other documents at the nearest Aegon Life Branch Office.
  • b. Submit duly completed claim forms and other documents at our Head Office.
  • c. Call us at our Toll Free Customer Care number- 1800 209 9090 for any further information or visit our website

Please click on this link to connect to our CLAIMS PROCESS PAGE for a detailed claim process, claim forms and branch locator. Your claim will be formally registered only after receiving a written claim intimation along with all the required documents at our branch/Claims Cell

What are the documents required to submit a claim?

Below are different type of forms available on website:

  • a. Death Claim To get a list of the documents required while reporting a Death Claim, please CLICK HERE
  • b. Accidental Disability/ Dismemberment claim
  • c.To get a list of the documents required while reporting an Accidental Disability/ Dismemberment claim, please CLICK HERE

     Critical Illness Rider claim

     To get a list of the documents required while reporting a Critical Illness Rider claim, please CLICK HERE

 

How can I check/know the status of my claim?

You can know the status of your Claim by calling our Customer Care Helpline at the Toll Free number- 1800 209 9090 or by writing to us at customer.care@aegonlife.com

How much time does the company take to decide on a claim

At Aegon Life Insurance, we endeavor to decide the Claim within 7 working days after all the records, documents and necessary forms are submitted by the Claimant and documentation is complete, subject to all other terms and conditions being met.In case, the Claim warrants further verification, the time taken to decide upon a claim would be slightly extended. Detailed timelines are as given below:

Turn Around Time as mandated by Insurance Regulation and Development Authority of India (IRDAI)Death ClaimsHealth Claims
Raising Claim RequirementsWithin 15 days of receipt of claimWithin 15 days of receipt of claim
Settlement or Rejection or Repudiation of claims wherein Investigation is not requiredWithin 30 days from the date of receipt of last necessary documentWithin 30 days from the date of receipt of last necessary document
Settlement or Rejection or Repudiation of claims wherein Investigation is requiredInvestigation should be completed not later than 90 days from the date of receipt of claim intimation and the claim shall be settled within 30 days thereafterInvestigation should be completed not later than 30 days from the date of receipt of last necessary document and the claim shall be settled within 45 days from the date of receipt of last necessary document
How will I receive the claim amount?

We honour most of our claim payments through direct Bank transfer. Electronic Clearing Service: You need to submit the ECS instructions along with a cancelled cheque with name of claimant printed on it. The claim amount will be transferred directly to your bank account *Electronic Clearance System or ECS is the mode to transfer your money electronically from one bank account to another. Cheque Payments: A cheque is drawn in name of claimant. It is sent to you at the address mentioned in the claim form

How will a claim be treated if policy is in Lapse status

If the Policy is lapsed as on the date of death of the life assured, no death benefit is payable For death benefit with respect to other plans, please refer to the policy terms & conditions mentioned in your policy document.

When does a claim get rejected?

It is very important to read through the Proposal form and submit true factual details at the proposal stage and provide genuine documents at the time of buying a policy. In order that your claim does not get rejected, please ensure the following:

A.   At the time of buying the policy:

  • Ensure that you read and yourself answer all the questions correctly and accurately to the best of your knowledge
  • Ensure that you have disclosed all material facts to the Company with regard to your health and be truthful about your tobacco and alcohol consumption habits. An affirmative declaration does not mean that your proposal will be rejected.
  • In case of any doubt as to whether a fact is material or not, the fact should always be disclosed
  • Ensure that all the documents submitted by you (E.g. age, address, income proof etc.) along with the proposal form are genuine.

B.Upon the receipt of your policy document, please perform the following checks:

  • Go through the copy of your signed proposal form enclosed along with the policy document
  • Review and ensure that all the questions have been answered correctly and accurately to the best of your knowledge
  • Double-check details with regards to your nominee. Ensure that your nominee knows the details of your policy such as sum assured, policy term etc. Also keep your policy bond in a safe place and ensure that your nominee knows where the original policy bond is stored.
  • In case you come across any discrepancy, please contact us immediately

C. At the claim Stage:

  • If documents submitted at the Proposal/Claims stage are not genuine, it would also lead to claim repudiation.
  • In the claims findings, if it is established that there had been a material suppression of facts pertaining to the proposal information, which would have impacted the assessment of risk, if disclosed at the proposal stage, then it may lead to repudiation of the claim.

Most of the claims get rejected due to reasons like:

  • Fraud (which is a deliberate and intentional attempt to cheat by submitting false claims. for example, submitting a death claim when the insured person is still alive)
  • Non-disclosure of existing disease medical condition or income and occupation details etc at the time of buying the policy
  • Non-disclosure of lifestyle attributes like tobacco and alcohol consumption at the time of buying the policy
  • Committing suicide within the first year or reinstatement of policy
  • Non-payment of premium within grace period which means your policy is in lapse status

 

How do I communicate my concerns with respect to a claim decision?

We strive to pay all genuine claims and hence a simplified claim process. In case the claimant has a query or concern they can approach the Customer Care department at (Toll Free number--1800 209 9090). In the event of response being dissatisfactory for the claimant, he/she may write to our Grievance Redressal Committee. The claimant may communicate his/her concerns to this committee by sending a written communication to the address mentioned below:

Aegon Life Insurance Company Limited, Building no.- 3, Third floor, Unit no.- 1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai -400063, Maharashtra If the claimant is still not satisfied with the redressal, the complainant may approach the Insurance Ombudsman. For more information on the Insurance Ombudsman, please refer your policy document.

After Policy Purchase

How do I modify the communication address in my policy?

For Online Policy - new addr proof copy needs to be sent from registered email id to customer care email id. For Offline Policy - new self-attested addr proof copy needs to be sent from registered email id to customer care email id.

How do I update/modify the mobile number in my policy?

For Online Policy - request needs to be sent from registered email id mentioning the new mobile # to be updated along with photo id and address proof copy. For Offline Policy - request needs to be sent from registered email id mentioning the new mobile # to be updated along with self-attested photo id and address proof copy

How do I update/modify email address in my policy?

For Online Policy - request needs to be sent from new email id that cm wants to register along with photo id and address proof copy. For Offline Policy - request needs to be sent from new email id that cm wants to register along with self-attested photo id and address proof copy.

How do I update my PAN number?

For Online Policy - request needs to be sent from registered email id along with pan card copy. For Offline Policy - request needs to be sent from registered email id along with self-attested pan card copy.

How do I update my Aadhaar number?

For Online Policy - request needs to be sent from registered email id along with Aadhaar card copy. For Offline Policy - request needs to be sent from registered email id along with self-attested Aadhaar card copy.

How do I update my marital status?

For Online Policy - request needs to be sent from registered email id along with Marriage certificate copy. For Offline Policy - request needs to be sent from registered email id along with self-attested Marriage certificate copy.

How do I change the premium payment frequency in my policy?

If change need to be done from any mode to a monthly mode, the request needs to be given in hard copy format and only at the time of policy anniversary, wherein we require 2 months of advance premium payment, NACH form & a request letter which can be submitted at branch or couriered to HO. However, if change needs to be done from monthly to annually or semi-annually or quarterly, the request can be given at policy any, at semi-annual, at quarterly respectively via email from registered email id or call on toll free #.

How do I increase/decrease the life insurance cover in my policy?

The life insurance cover cannot be increased or decreased in the existing policy but new additional policy can b taken for the extra cover needed.

How do I disclose additional information about myself after issuance of my policy?

An email needs to be sent from registered email id to customer care email id(customer.care@aegonlife.com) for the same.

How do I apply for a loan on my policy?

The original policy document along with self-attested pan card copy and a request letter needs to be sent via courier to HO.

What happens if the policy lapses or is discontinued?

The benefts of the policy lapses or discontinues until revival is done. If no revival up to 2 years from 1st unpaid premium then policy terminates.

How do I create user ID and password?

You will need to follow 4 simple steps to register on the portal to access your policy details. Step 1 You will need to login to http://www.aegonlife.com   Step 2 Then click on Login – As a Customer Step 3 Then click on New User and register Now Step 4 You will be required to enter policy number, policy issuance date and the policy holder’s date of birth. Step 5 You will be required to enter your id and password wherein you can keep anything as per your convenience as your id and password. You will receive a confirmation email confirming the registration along with the details of your user id and password on the registered email id as per our records and by login with the same details you will be able to view your policy details online.

How much bonus will I get?

Bonus will be declared on traditional / savings policy. This will depend on the profits of the company at the end of every financial year.

I want to make a complaint, whom should I write to?

you can follow the escalation matrix - 1st email would be sent to customer.care@aegonlife.com wherein a complaint would be registered and investigated by our complaint team. In case of an unsatisfactory response from them, you can then write to coo.desk@aegonlife.com. In case you are unsatisfied with the response from coo desk, you can write to grievance.manager@aegonlife.com

I forgot my user ID and password?

You can login with the alternate method of login which is just below the id and password, wherein it would ask you for the policy number, date of birth and date of policy issuance.

Can I change my user ID?

No, there is no option of changing user id.

What is policy assignment? What are the types of policy assignment?

Assignment of a life insurance policy means transfer of rights from one person to another. You can transfer the rights on your insurance policy to another person / entity for various reasons. This process is referred to ‘Assignment’. We only do Absolute assignment.

Who are 'Assignor' and 'Assignee'?

An assignor is a person who transfers property rights or powers to another. An assignee is a person or entity to which property rights or powers are transferred

Who is entitled to the claim in cases where there are multiple assignments

We do not do multiple / partial assignments. We only do absolute assignments.

How do the rights and liabilities of assignor and assignee change post assignment?

The rights of the policy would be transferred solely to the assignee. The liability of paying the premiums on the policy in order to keep it active would be on the assignor

Is nomination cancelled on assignment?

Yes, nomination is cancelled on assignment.

Who is Nominee/Beneficiary?

A person who receives the benefit in case of death of the insured person is a nominee.

Why should you appoint a nominee and whom can I appoint as a nominee?

One should appoint a nominee in case if the policy holder dies during the policy term, his/her nominee are entitled to get the claim amount from the insurer.

Can nomination be made when life assured and proposer are different individuals?

No. Nominations can be made only when the life assured and proposer is same.

Can a minor be appointed as Nominee?

Yes, a minor can be added as a nominee but an appointee also needs to be kept for the minor.

Who is an appointee?

An appointee is a person who will receive the benefits of the policy on behalf of the nominee (who is a minor)

What happens if the nominee dies before the policyholder?

The policy holder can change the nominee details on the policy.

What happens if the policyholder dies after maturity of his policy but before the proceeds of the policy are paid to him/her?

In this case the insurer would pay out the maturity benefits proceeds to the nominee on the policy.

How can you change or cancel your Nomination?

If the nominee is a major, an email can b sent from the registered email id or a call can be done on toll free number giving us 4 pieces of information - nominee name, nominee dob, relationship with cm and percentage of allocation (in case of multiple nominees). If the nominee is a minor then an appointee needs to be kept for the minor, in which case there is a nomination form which needs to be filled signed by the cm and the appointee and sent from the registered email id to customer care email id.

Policy Purchase Queries

What is a Term Plan?

A Term plan is a pure protection life insurance plan: In case of death of the Life Assured during the Policy duration, the guaranteed insurance coverage amount (Sum Assured) is paid to the nominee. No benefit is payable in case the Life Assured survives the complete duration of the policy (Policy Maturity) These plans are highly cost effective, and provide a high life insurance cover in return of a comparatively smaller Premium amount.

Why should I buy a Term Plan?

Term plans are best suited for working individuals who have dependents (children, parents) and are looking for a considerable amount of protection against uncertainties of life (death) at a fairly low price. The basic purpose of a Term plan is to provide financial security for the applicant and his/her family.

What if, I am already insured under a Group Insurance Scheme by my employer? Should I buy a Term Plan?

It is always prudent to buy an individual Life Insurance policy because a). The insurance amount you are covered for may not be enough. b). The policy cover lasts till you are associated with the employer. c). The older you get, the higher is the premium.

What is the difference between buying a Term Plan Online vs. Offline?

Buying a term plan online is one of the cheapest modes to buy insurance as it saves your time and money. The online term plans are available at approximately 30 to 40 percent lower premiums compared to offline term plans. Offline term plans are costlier due to distribution costs associated with the same whereas, these costs are absent in an online term plan and as such the benefit of the same is passed on to the policy holders in terms of lower premiums. All other benefits remain the same for both online and offline customers. The same service and benefits are applicable to both.

Is it safe to make payments online?

Aegon Life.com ensures that every transaction you conduct online is in a safe and secure environment. To achieve this, Aegon Life.com is protected by Secured Socket Layer (SSL) technology by VeriSign, the leaders in encryption technology. The process of encryption takes your credit card information and converts it into bits of code that are securely transmitted over the Internet. This scrambled data cannot be read as the information travels over the Internet. Aegon Life doesn’t store any Credit/Debit card, Internet banking related information from the customer.

What amount of Insurance Cover should I opt for?

It is said that a good estimate for calculating your insurance amount should be 8-10 times of the gross yearly income. Although this a good rule of thumb but at the same time, it is also an oversimplified way of calculation. This calculation does not factor in the life style or debts of the insured, as different people have varying lifestyle and different amount of debt to repay. Use our simple and effective calculator to check your ideal insurance amount!

What should be the duration (term) of my policy?

Ideally, the term of your policy should be equal to the number of years your family will be dependent on you financially.

Who is a Nominee?

A nominee is a person who is eligible to receive the coverage amount from insurance policy in the event of death of the applicant.

Will my premium amount change during the tenure of the policy after I have bought the plan?

Once the policy is issued, Premium will remain the same for the entire tenure of the policy. This is subject to service tax regulations as declared by the Government of India.

If I reside abroad and I am working there for a couple of years after I purchase the plan will I be covered?

In case you are a frequent traveler to foreign locations, you need to just disclose the same in the form with respect to the ‘travel question'. You do not need to inform the company of your travel abroad unless you have already got an offer or work permit and are in the process of migrating while applying for the policy.

If I take the citizenship of another country after I purchase the plan will I be covered?

Post applying for the plan if one is travelling abroad or attains an NRI status, the cover from the term plan will still be applicable.

If I wish to change the nominee details on the policy how can I do the same?

YPlease contact our customer care toll free number- 1800-209-9090 (8.30am to 8.30pm) or you can send an e-mail on customer.care@aegonlife.com with respect to the change.

Can I make any changes to the Policy Term or Sum Assured after the policy is issued?

Once the policy is issued changes related to the Policy Term or Sum Assured cannot be processed. You can re-apply for a fresh policy with the desired term or Sum Assured.

I have recently completed a medical test, will I still have to give another?

If you are a 1st time customer for Aegon, then you will have to go through a fresh set of medicals from Aegon Empaneled Medical Centers. If you’re an existing customer, then the medicals should be done in the last 3months for us to consider the same with prior confirmation from Underwriting.

Who performs the medical exam?

A licensed paramedical examiner (such as a nurse, lab technician etc) or a medical examiner (MBBS, MD etc) will typically conduct the exam. These paramedical/ medical examiners work independently and are not direct employees of ALI. However, they are associated with a particular diagnostic center and must always display their identity card (of their association with the lab/ diagnostic center). As a part of the identification process and for security reasons, please insist on seeing the identity card of the person visiting/ performing the medical examination in a home facility. Should the examiner refuse to show the ID card; you reserve the right to refuse the medical examination.

Can I perform the medical test at my place? Or will I have to come somewhere?

Most of the Medicals are Home Visit, however it depends of the availability of the Medical Centre in your vicinity. If it’s away than you may have to visit the Medical Centre. Also if there is any medical test required which cannot be conducted at home than you will have to visit the centre.

How much does the medical exam cost and who pays for it?

ALI pays for the medical exam to the medical service provider. There is no cost to you.

What is included in the medical exam and how long will it take?

A routine medical exam includes the following:- Basic physical exam (height, weight, blood pressure, pulse) is conducted Urine specimen may be collected on some occasions Blood samples may also be taken Some cases may also require ECGs and/or Treadmill ECGs (stress tests) The exam is usually completed within 30 minutes.

What kind of medical history will be asked?

The examiner will ask questions regarding medical conditions, surgeries, medications, or other treatments you may have had. The examiner will also ask the names and addresses of physicians and/or hospitals that have treated you (if applicable). You may wish to have this information handy to save time during the exam.

Where does a nominee apply for a claim?

Nominee can intimate directly to the company’s registered address or any branch offices in writing or log onto www.aegonlife.com to make online claim intimation.

If I wish to include critical information about my lifestyle/family history/past medical history which I had missed updating while purchasing the plan. How do I add them on the proposal form?

We request you to be careful while filling the proposal form as this information is very critical for Risk assessment & decision on the policy. However if you miss out any information, please write to customer.care@aegonlife.com with the details

How do I opt for ECS facility for Renewal premium payments? Once I have uploaded my documents on the website, do I also need to courier the same?

You can courier an original copy of the cancelled Cheque along with the original ECS MANDATE FORM, which is available on the website to Aegon Life Insurance, Building no.3, Third floor, Unit no.1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai 400 063.

Can I take the iTerm plan for my wife, if she is not working?

Yes, if you are an existing iTerm policy holder or if you take a new iTerm from Aegon Life you can get the cover for your wife even if she is not working. The maximum coverage will be upto 50% of Husband coverage or Rs.1 Cr whichever is lower and is subject to financial eligibility of Husband & underwriting rules of the company. For more details please get in touch with our customer service executive on our Toll Free Number 1800-120-1234.

What income should I put in the income field?

For salaried it would the Gross Cost to company which includes variable and non-variable and self-employed it would be the earned income through business like profit, commissions and bonuses.

Where can I view the application form that I have submitted?

Once you have made the payment, you will be able to see the application form on the website dashboard. You will also receive an email with the attachment of the proposal form, payment receipt and benefit illustration.

What KYC documents are required for buying a life insurance policy online?

The basic documents are required, like Age Proof, Address Proof, Id Proof which could be for example your Pan Card, Aadhaar Card, Passport Copy etc.. You will receive an email with the list of documents required once you make the payment.

What is the process of policy issuance? How can I cancel my application?

Once the payment is completed and you provide us with the relevant documents and medicals are done the underwriting team will review your application for Issuance. In case you wish to cancel the application you can write an email to anita.rao@aegonlife.com or customer.care@aegonlife.com

How long will it take to get the policy documents If I purchase today?

Once you purchase the policy, get the medicals done and provide us with the relevant documents it takes us around 7 to 10 working days to issue the policy. One issuance you receive an email. The very same moment your life cover starts. Post issuance in 48 hrs you will get the soft copy of your policy document.

What is a review (freelook) period? How is it beneficial for me?

Post issuance you get 30 days’ time for yearly mode and 15 days for monthly mode payment to reconsider your policy. If you are not convinced with the plan or features you have the option to cancel the policy. You will get refund of the premium paid minus the stamp duty and medical charges.