Aegon Life Insurance has announced the launch of its latest life insurance product – Aegon Life Saral Jeevan Bima (a standardised simple term insurance plan) that allows flexibility to the customers to adapt the policy basis their needs. With this online policy, customers can enjoy the benefits of hassle-free processing with minimum financial and medical requirements.
Aegon Life Saral Jeevan Bima is a simple insurance policy that will pay the nominee a fixed amount after the policyholder’s death. It can be bought by any individual aged between 18 to 65 years with a sum assured of Rs. 5 lakhs to Rs. 25 lakhs and cover 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.”
Key benefits of Aegon Life Saral Jeevan Bima
- Simple and easy to understand online term insurance plan.
- Suitable for all, including first-time buyers.
- No income proof and medical tests for select profiles.
- Provides financial security to one’s family by providing a lump sum pay out in case of untimely death of Policyholder.
- Additional benefits include flexibility to select policy term and premium payment term as per customer needs.