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Get to Know the Aegon Life Child Insurance Plan

Updated on June 22, 2022 , 1201 views

Having a child is all joy and happiness. But this excitement can soon turn into a worry if you haven’t planned the future of your child(ren) yet! Of course, there are numerous things that you must look into, right from their education to their marriage.

Aegon Life Child Insurance Plan

In such a situation, one of the wisest decisions is to have a child insurance that gives you an assurance of covering all the major expenses in the future. Out of the significant options that you may have, Aegon Life Child Insurance is something that you must consider.

In this post, let’s find out the type of child insurance that Aegon offers along with their respective features and eligibility criteria.

Types of Aegon Life Child Insurance

1. Aegon Life Rising Star Insurance Plan

By partnering with the Times Group, Aegon offers this insurance plan as a form of a Market-linked policy. Whether for an essential milestone or education, this plan helps you achieve all the major Financial goals for your child. With this Aegon life star child plan, you can get a benefit of 105% of sum assured or premiums paid, whichever would be higher. In the form of the maturity benefit, you get the fund value.

Features

  • A thorough child-centric policy
  • Easy to understand and apply
  • The quick growing rate for savings
  • Choose a premium amount that seems affordable
  • Availability of withdrawing option in case of an emergency
Eligibility Criteria Requirements
Entry age 1 – 10 years
Age at maturity 65 years
Policy tenure 25 years
Premium payment mode Regular
Premium amount Rs. 20,000 – Rs. 30,000
Sum assured Dependable
Frequency of premium payment Monthly, half-yearly & yearly

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2. Aegon Life EduCare Advantage Insurance Plan

This Aegon Life Insurance plan is a traditional money-back insurance plan. To take care of the finances of your child, this plan offers regular money back at specific time intervals. Moreover, the death benefit for the insured is also covered under this policy for maximum advantages.

Features

  • Availability of ADDD rider in case of accidental death or disability
  • Availability of loan at a surrender value of 60%
  • Upon maturity, the last premium payment is reverted
  • Money backs are available only for a limited period of time
  • Premiums have to be paid for a limited period of time
Eligibility Criteria Requirements
Entry age 20 - 60 years
Age at maturity 75 years
Policy tenure Up to 20 years
Premium payment mode Dependable
Premium amount Depends on the age & cover
Sum assured Rs. 1 lakh – unlimited
Frequency of premium payment Monthly, half-yearly & yearly

Documents for Insurance

To avail any of the Aegon child insurance, you would have to present the following documents:

  • Address proof (Passport, Driving License, Voter ID, PAN Card)
  • Passport size photograph
  • Age proof (Driving License, PAN Card, Aadhar Card, Birth Certificate)
  • Bank proof (Cancelled Cheque, Bank statement)
  • Income proof (Employer’s Certificate, Form 16)
  • Photo identity proof (Passport, Driving License, Voter ID)

How to Claim Aegon Child Insurance?

If you wish to claim your insurance, you would have to visit any of the nearest Aegon life branches. There, you can ask for the claim form and fill it thoroughly. Along with that, submit the required documents. The representative there will assess all the documents along with the details mentioned in the form. Just within the time period of 7 working days, the amount will be transferred to the beneficiary.

Documents for Making a Claim:

If you are ready to make a claim, along with the necessary form, you would have to attach these documents:

  • Statement of the claimant
  • Death certificate issued by the authority along with the certificate of death issued by a medical officer or a doctor, stating the cause of death (in case of a death)
  • Post mortem report, FIR, Final investigation report of the police, and the Inquest report (in case of unnatural death)

Aegon Child Insurance Customer Care

  • Customer Care Number: 1800-209-9090

  • Email ID: customer.care[@]aegonlife[dot]com

FAQs

1. Is there a death benefit under the child plan?

A: Yes. In case the policyholder dies, the death benefit will be issued in the lump sum form, which will be 105% of the premiums paid, 10 times the annual premium or higher of sum assured (whichever is higher).

2. Is there an option to make an early withdrawal?

A: Yes, there is. You can easily do so by giving the policy along with necessary KYC documents to the nearest Aegon branch.

3. Can I avail any tax advantage with the policy?

A: Yes, you will be available to get tax advantages with Aegon life child plan under section 10 (10D) and 80c of the income tax Act, 1961.

4. How can I make the premium payment?

A: Aegon offers different modes of payments, such as Cheque, eWallet, Net Banking, Debit Card and Credit Card. You can choose one accordingly.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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