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Aegon Life Insurance Launches Aegon Life Saral Jeevan Bima – Check Features

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The plan comes with hassle-free treatment with minimal financial and medical requirements.

Aegon Life Insurance has announced the launch of its latest life insurance product – Aegon Life Saral Jeevan Bima which allows clients to tailor the policy basis to their needs. With this online policy, one can enjoy the benefits of hassle-free treatment with minimal financial and medical requirements.

Aegon Life Saral Jeevan Bima is a simple insurance policy that will pay the nominee a fixed amount after the death of the insured during the term of the policy. It can be purchased by anyone aged 18-65 with an insured sum of Rs. 5 lakhs to Rs. 25 lakhs and coverage period ranging from 5 years to 40 years.

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You can pay the premium as a single salary or opt for a regular salary equal to the term of the policy or opt for a limited salary of 5 years and 10 years. The buyer can enjoy the benefits of Aegon Life AD Rider with this policy. In the event of the death of the insured due to an accident during the term of the rider, an amount equal to the sum insured for the rider is payable. This amount will be in addition to the death benefit under the basic policy.

Aegon Life Saral Jeevan Bima is a standardized single term insurance plan in accordance with IRDAI’s mandate for all insurers to launch a standard term insurance plan. The Insurance Regulatory and Development Authority of India (IRDAI) has found it necessary to introduce a standard term life insurance product, with simple features and standard terms and conditions. Such a standard product will make it easier for customers to make an informed choice, build trust between insurers and the insured, and reduce abuse sales and potential litigation when settling a claim.

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Term insurance plans are the purest form of insurance and anyone with financial dependents should buy them. These plans are especially suitable for those looking to purchase protective blankets for the first time.

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Satishwar Balakrishnan, Managing Director and CEO of Aegon Life Insurance said: “The introduction of Saral Jeevan is an important initiative of IRDAI with standard coverage with affordable premiums. This will not only help improve the penetration of insurance, but its availability on digital platforms will help advocate buying insurance online as simple, transparent and hassle-free. “

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