Aegon Life launches 1-year term insurance with COVID-19 cover

Aegon Life has launched a term life insurance with a COVID-19 cover for hospitalisation expenses up to Rs 1 lakh which can be bought on the Flipkart app. The policy is issued only for 1 year. This means that both the COVID-19 cover and term insurance will expire after one year from the date of purchase of the policy. Also, it is a term insurance cover, so there is no maturity benefit or survival benefit payable to you on the coverage expiry date of the policy. The policy is not available for senior citizens as only those aged between 18 years and 50 years can buy this policy. According to the press release, this launch is aimed to provide Flipkart customers with a comprehensive insurance cover against COVID-19, that can be availed on the e-commerce company’s app instantly along with the base life insurance plan. This cover supports the policyholder by covering hospitalisation costs of up to Rs 1 lakh on minimum 24 consecutive hours of hospitalisation on the first diagnosis of COVID-19, along with death benefit from the life cover.

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