Aegon Life Insurance and Max Life Insurance are two of the most popular life insurance companies in India. They offer a wide range of policies for different needs and budgets. However, they are not always on par with each other in terms of price or quality.
Aegon Life Insurance provides a wide range of life insurance products to meet the needs of different customers. The company offers term plans, whole life plans, and endowment plans for people at different stages in their lives.
Max Life Insurance is one of the leading private sector life insurers in India with a long history of providing protection to families and individuals against financial risks arising from death or disability. Max Life has been offering various types of life cover like Endowment Plans, Whole-of-Life Plans, Term Plans, and other products.
Aegon Life Insurance
Aegon life insurance is one of the top digital life insurance companies in India. It was the first life insurance company to inaugurate online term insurance plans in India. Aegon Life Insurance Company is headquartered in Mumbai, India, and has more than 3 Lakh customers. They operate in over 20 countries, including the United States, where they are known as Transamerica. Their head office, however, can still be found in The Hague, the Netherlands.
Aegon Life insurance company Ltd is dedicated to our customers securing their long-term financial future. With a recent global study approximate 92% of insurance are for household, education and future plans, etc. Aegon is performing to help its customers achieve healthy and financial security.
Aegon Life Insurance Plans List
| Type of Plans |
AEGON Life Insurance Plans |
| Term Insurance Plans |
- Aegon Life Saral Jeevan Bima Plan
- Aegon Life iTerm Insurance Plan
|
| ULIPS Plans |
- Aegon Life iInvest Plan
- Aegon Life iMaximize Plan
|
| Retirement Plans |
- Aegon Life Saral Pension Plan
- Aegon Life Jeevan Riddhi Insurance Plan
- Aegon Life Insta Pension Insurance Plan
|
| Savings Plans |
- Aegon Life POS Guaranteed Return Insurance Plan
|
| Money-Back Plans |
- Aegon Life Regular Money Back Insurance Plan
|
| Group Plans |
- Aegon Life Group Credit Shield Insurance Plan
- Aegon Life Group Term Plus Insurance Plan
|
| Other Plans |
- Aegon Life Rural Term Insurance Plan
- Aegon Life Covid-19 Insurance Plan
- Aegon Life Critical Illness Insurance
- Aegon Whole life insurance
|
Aegon Life Insurance Benefits
- Savings & Loan Facility: Aegon life insurance is long-term savings and insurance is made mandatory by IRDAI to ensure the safety of the policyholders. The unfortunate financial obligations are covered by a life insurance policy that helps needy people.
- Guaranteed Income: When you are decided to retire and want to earn after that life insurance is the best policy to save money when you earn at a young age and enjoy when you retired.
- Investment Benefits: Aegon life insurance plans offer maturity benefits, in-built assured with money-back and cash-back maturity values.
- Wealth Creation & No Risk: Aegon Life insurance helps savings and gives protection to long-term financial payments.
- Tax Benefits: According to section 80c of the Income Tax Act, 1961 premiums are paid through a life insurance policy.
Max Life Insurance
Max Life Insurance Company is one of the best life insurance companies in India. It is often the simplest things that bring the most happiness in life. Max Life Insurance, constantly tries to create solutions to make life insurance plans easy, affordable, and suitable for every stage of your life.
Max Life Insurance offers a wide variety of life insurance products for individuals and families. These include term life insurance, whole-life insurance, endowment life insurance, Annuity insurance products, Child plans, Investment plans, Money-Back plans, ULIPs, Guaranteed Income Plans, etc.
Max Life Insurance industry has many happy customers based on their claims percentage, sum assured, assets under management, persistency, and solvency ratio. The Max Life Insurance company dedicatedly tries to create a solution to make life insurance more affordable, easy, and suitable for all customers at every stage of life.
Max Life Insurance Plans
| Type of Plans |
Max Life Insurance Plans |
| Term Insurance Plans |
- Max Life Smart Secure Plus Plan
- Max Life Smart Term Plan
- Max Life Online Term Plan Plus
|
| ULIPS Plans |
- Max Life Fast Track Super
- Max Life Platinum Wealth Plan
- Max Life Online Savings Plan - Variant 1
- Max Life Online Savings Plan - Variant 2
- Max Life Shiksha Plus Super
- Max Life Forever Young Plan
|
| Retirement Plans |
- Max Life Saral Pension Plan
- Max Life Forever Young Pension Plan
- Max Life Guaranteed Lifetime Income Plan
- Max Life Life Perfect Partner Super Plan
|
| Guaranteed Savings Plans |
- Max Life Savings Advantage Plan
- Max Life Monthly Income Advantage Plan
- Max Life Whole Life Super
- Max Life Assured Wealth Plan
|
| Guaranteed Income Plans |
- Max Life Term Plan with Return of Premium
- Max Life Smart Wealth Plan
- Max Life Online Savings Plan
- Max Life Long Term Plan
- Max Life Short Term Plan
- Max Life Cancer Insurance Plan
|
| Child Plans |
- Max Life Future Genius Education Plan
- Max Life Siksha Plus Super Plan
|
Max Life Insurance Key Benefits:
- Financial Security: Max Life Insurance products help the insured to provide financial security to their family and safeguard them against any type of eventualities.
- Child’s Future Planning: With a max life insurance policy you can plan for your children’s future education, marriage, etc. The insurance benefits they will receive after you help them fulfill their dreams just as you have planned for them.
- Long Term Savings: With Max Life Insurance policy you can opt for life insurance plans with maturity benefits to enjoy life with financial independence and also create wealth, which can be used to fulfill various life goals.
- Tax Benefits: Max's life insurance policies provide certain tax benefits under section 80C and section 10 (10D) of the income tax act, 1961.
- Retirement Planning: There are various life insurance plans that you can choose from max life insurance that will plan for your retired life. You can select monthly income or lump sum pay-outs with these plans to enjoy your life after retirement without financial worries.
Comparison Table of Aegon Life Insurance vs Max Life Insurance
Here are some of the key parameters based on which they differ from each other:
| Parameter |
Aegon Life Insurance |
Max Life Insurance |
| Claim Settlement Ratio |
98.01% |
99.22% |
| Solvency Ratio |
2.39 |
2.18 |
| Life Cover |
Up to 99 years |
Up to 99 years |
| Death Benefit |
Yes |
Yes |
| Maturity Benefit |
Yes |
Yes |
| Availability |
Online/Offline |
Online/Offline |
| Online Services |
- Pay Premium Payment
- Claim Settlement
- Renew Online
- Buy Policy Online
- Track Policy
|
- Premium Payment
- Download Receipts
- Track Application
- Claim Settlement
- Update Information
- Buy Online
- Renewal Policy, etc.
|
| Add-ons |
- Critical Illness Rider
- Accidental Death Benefit Rider
- Waiver of Premium Rider
|
- Accidental Death Benefit Rider
- Waiver of Premium Rider
- Critical Illness Rider
|
Conclusion
Max Life Insurance and Aegon Life Insurance are two of the most popular life insurance companies in India. Both companies offer policies with similar features and benefits. However, there are some differences between these two policies that you should take into consideration before choosing a plan. The best policy is the one that meets your needs. You may want to consider what type of coverage you need, how much you can afford, and the company's financial stability.
To protect the family policyholder from unfortunate events which make an adverse impact financially, it is better to be insured. Check all the features, benefits and premium rates, and coverage amount of Aegon life insurance and Max life insurance before concluding on the right insurance policy. Configure the premium with the benefits availed on Max life vs Aegon life insurance. Compare life insurance quotes for the best life insurance plans in India from top insurers online at PolicyBachat.