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Aegon Life Insurance introduces Aegon Life Saral Jeevan Bima

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A standardised simple term insurance plan, Aegon Life Saral Jeevan Bima has been launched by the leading digital life insurance provider, Aegon Life Insurance that allows flexibility to the customers to adapt the policy basis their needs. Along with minimum financial and medical requirements, this online policy ensures that customers can enjoy the benefits of hassle-free processing.

After the policyholder’s death, the nominee gets a fixed amount through the simple insurance policy, Aegon Life Saral Jeevan Bima. With a sum assured of Rs. 5 lakhs to Rs. 25 lakhs, this policy can be bought by any individual aged between 18 to 65 years and cover a period ranging between 5 years to 40 years.

Satishwar Balakrishnan, MD & CEO Aegon Life Insurance said, “The introduction of Saral Jeevan is a significant move by the IRDAI with standard coverage with affordable premiums. This will not only help improve insurance penetration, but its availability on digital platforms will help in advocating online insurance buying as simple, transparent, and hassle-free.”

Adding further, “With digitization as our strength and our experience in selling life insurance product online, we will push this product on our digital platform. Uniform wordings and standard features will reduce the hassle and eliminate the room for confusion while buying, thus making it suitable for first-time buyers who wish to secure their loved ones in case of unforeseen circumstances.”

Some key benefits of Aegon Life Saral Jeevan Bima include:

  • By providing a lump sum payout in case of the untimely death of a Policyholder, it provides financial security to one’s family
  • Simple and easy to understand online term insurance plan.
  • Premium payment term and flexibility to select policy term as per customer needs to be included as additional benefits
  • No income proof and medical tests for select profiles*.
  • Suitable for all, including first-time buyers.

*Based on the Underwriting norms

Online Term Insurance Plans in India was first introduced by Aegon Life. Its vision is to enable customers to be the most recommended new age Life Insurance Company and to lead tension free lives, by focusing on innovative digital-first solutions. For greater clarity and transparency, the company’s Direct to Customer focus establishes a direct dialogue with the customers. An international provider of life insurance, pensions and asset management, Aegon N. V and India’s largest media conglomerate popularly known as the Times Group, Bennett Coleman and Company came together to form Aegon Life. The company serves 3 Lakh+ customers and is headquartered in Mumbai, India.

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