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Aegon Life Group Term Insurance Plan

What is the Plan all About?

Aegon Life Group Term Insurance Plan provides the members of the group with a life insurance plan so that their families’ needs are looked after.The earning member of the group is the income generator on whom the family is financially dependent. With Aegon’s group term plan, the employees or members of the group can have a safety net for their families at a nominal premium cost.


What are the key features?

  • One policy securing multiple lives
  • Nominal premium charge
  • Guaranteed sum assured on death
  • Members can be excluded or included on a monthly basis
  • Minimum group size is 50 members
  • No maximum limit on the group members
  • Policy is renewable after 1 year

What are the Plan Benefits?

Death Benefit

    On the death of any of the members of the policy, the guaranteed sum assured is payable to the family of the deceased.

Maturity Benefit

    It is a pure protection plan and no maturity benefits are payable.

Surrender Benefit

    The policy does not acquire any surrender value throughout the policy term and therefore there is no amount payable to you upon surrender.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 59 Years
Age at Maturity - 60 Years
Policy Tenure 1 Year (yearly Renewable) -
Premium Paying Term Same As Policy Term -
Premium Paying Mode Annually,Semiannually, Quarterly,Monthly(via ECS) -
Sum Assured Rs 5,000 Per Member Rs 2 Lakh Per Member
Maturity Benefit Nil -
Plan Type Offline -

Is any rider available with this plan?

No rider is available under this plan.