Aegon Life Insurance

aegon

Aegon are part of Aegon N,V, an international Life Insurance provider with businesses in over 20 countries around the world. They have over 3.9 million customers in the UK and are committed to helping people achieve a lifetime of financial security. 

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The History of Aegon

Aegon started life as Scottish Equitable way back in 1831 in Edinburgh. Over the years they have evolved the brand, combining the strong UK heritage with their global strength.

Aegon Life Insurance Policy Review

Aegon's Life Insurance offers a comprehensive policy with the option to combine different types of cover from their Personal Protection Solutions menu plan. The policies are really flexible, allowing you to choose the combination of cover to suit you from life & critical illness cover as well as income protection and permanent disability benefits. 

Aegon Life Insurance Overview

Includes life cover and terminal illness cover  Critical Illness cover can be added at an additional cost

Policyholders age  You can take out a policy between 18 and 89 years of age (85 if it includes Critical Illness). 

Types of cover available  Aegon offer Level Term Cover, Decreasing Term Cover or Family Income Benefit.

Accidental Death Benefit Aegon's policy automatically includes accidental death benefit. You are covered for accidental death for up to 60 days whilst applying for the policy.  

 

 

Best Individual Life Insurance

Cover Excellence Awards 2017

 

5-Star Rated 

with independent rating firm Defaqto for level and reducing critical illness protection

5-Star Rated

with Moneyfacts for level and reducing critical illness protection

Best Claims Management Team

Cover Customer Care Awards

Aegon Life Insurance Cover

Available options with Aegon Life Insurance

Life Insurance  Aviva Options
Types of Cover offered
  • Term Life Insurance
  • Decreasing Term Life Insurance
  • Family Income Benefit
  • Income Protection
  • Permanent Disability
Minimum Age Entry 18 years old
Maximum Age Entry 89 years old
Maximum Benefit Unlimited 
Terminal Illness Cover  Yes
Premium Type
  • Guaranteed
  • Reviewable
  • Annually increasing

Additional Benefits

You can also choose to pay extra for the following:

Additional Benefit Details
Health Assured Life Insurance policy holders have free access to Health Assured, Aegon's health and well-being support package. This gives you free access to their Online Health Assessment as well as access to qualified counsellors 24 hours a day. 
Accidental Death Benefit If the policyholder dies in the first 60 days during the application process, a £250,000 or lower benefit can still be applied for. 
Funeral £10,000 advanced payment A £10,000 payment can be made to the family or directly to a funeral director before probate has been completed. 
Pre-completion Benefit If you take out Life Insurance to cover your mortgage, this benefit ensures you have protection in place while you are waiting for the purchase of a property to complete. 
   

 

How to Make a Claim

To make a claim, you can call Aegon on 03456 00 04 93 (call charges will vary).

Aegon have a full guide to the claims process for life protection claims here. 

 

Frequently Asked Questions

What happens if I out-live my Term Life Insurance policy?

A Term Life Insurance policy does not provide a cash sum if you are still alive at the end of the term. Premiums tend to be lower for such policies as the majority will out-live their policy. Term Life Insurance policies are generally taken out by people who do not want to leave any financial burden on their family such as mortgage payments.

What is the difference between Over 50’s and Whole of Life Cover?

Both policies will pay out a lump sum upon your death at any age. Generally speaking, Whole of Life cover tends to have cheaper premiums over an Over 50’s plan as you have to disclose your medical information. The most cost effective option for you depends on whether you would benefit from your medical history being disclosed or not. Although the premiums of a Whole of Life policy tend to be lower, you will pay the premium until you pass away, whereas Over 50s plans often have an upper age limit. While your cover will remain, you are no longer required to make payments - usually when you reach 90 years old or the 30th anniversary of your policy.

Can I add Critical Illness to my Life Insurance?

Yes, should you suffer a serious illness Critical Illness cover will pay out a tax-free sum. This can be an add on to your Life Insurance policy or bought separately. Speak to one of our expert advisors to find out which policy would best suit your needs.

Who gets the money if my children are young when I die?

Setting up a Life Insurance policy is designed to protect loved ones and writing the policy into trust goes a step further in achieving this goal. This enables you to select who would hold the money for your children until they reach a certain age should you die. This will often be a partner, sibling or close friend as they will have a legal responsibility to carry out the wishes of the person creating the trust.

 

Will my cover cost more as a smoker?

Life Insurance is a risk-based product and so with the significant health impacts that smoking can have on a person, the insurance companies will charge someone a higher premium should they smoke. A smoker is usually defined as someone who has used any nicotine product in the last 12 months although some insurance companies have changed this to longer periods. If you took a policy while smoking and you no longer smoke, you should contact us to review your policy.

Will my cover cost more if I vape?

Vaping is a recent trend which insurance companies and health bodies have had to educate themselves on. The vast majority of e-cigarettes still contain a level of nicotine which can be addictive and so anyone who uses such products will still be classed as a smoker.

Is my premium fixed?

Most people tend to like the idea of their premium never changing as it provides stability and peace of mind – these are known as guaranteed premiums. Reviewable premiums are sometimes opted for whereby the premium can start at a lower amount but increase over of the course of the policy.

Will my Life Insurance payout be taxable?

No, your insurance payout will not be liable for tax.

 

Aegon Life Insurance Policy Documents

For the Aegon Life Insurance Key Facts and Policy Terms & Conditions documents, see below.

 

Why Compare Health & Life Insurance with us?

Here at Usay Compare, we can help you to compare prices and cover from the market leading UK health and life insurance companies such as Aviva, AXA and Bupa. Our service is completely free of charge and we are totally independent and impartial.

Our unparalleled team of friendly, expert advisers are on the end of the phone, ready to guide you easily through the whole process. They will get to know your unique individual requirements, do all the hard work comparing prices and policies for you; then advise on the best and most cost-effective quote.

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  • Income Protection
  • Critical Ilness
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Life Insurance Guides

Below are our in-depth guides to help you understand Life Insurance better and learn more about how it works. Don't forget our advisers are always at the end of the phone to offer free, expert advice should you prefer to speak to someone in person.