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Aegon Insurance Company Review 2020
December 09, 2019
About Aegon
Aegon is in more than 20 countries across the world and began operations over 170 years ago. Today they have more than 30 million customers, 29 thousand employees, and manage investments of more than $825 billion. In the US Market they operate under the probably more familiar Transamerica brand.
While Aegon offers a variety of financial solutions such as individual savings and retirement plans, pensions, and asset management, this review will be focused in on their life insurance offerings.
Aegon life insurance policies
In the United States, Aegon offers a wide range of different types of life insurance policies under the name TransAmerica, including term, whole, universal, variable and final expense.
Aegon term life insurance
Term is meant to provide coverage for a certain period of time, or term. As previously mentioned Aegon operates as Transamerica in the United States and they offer level term with coverage from $50K-$10M for those who are 18-75 years old, though the age can vary depending on the state you live in. With some of their options you may be able to skip the medical exam if you meet their criteria.
Aegon whole life insurance
Whole life insurance policies are meant to cover you for your whole life and accumulates a cash value. The cash value is started with a portion of the premiums that are paid in and that portion is typically invested in a savings account where your cash value can grow. With Aegon's policies you can get coverage from $2K-$3M for those who are 18-85 years old, though the age can vary depending on the state you live in. With some of their options you may be able to skip the medical exam if you meet their criteria.
Aegon universal life insurance
Universal life insurance is also meant to provide protection for your whole life. This policy is similar to whole like in that it also accumulates a cash value, but it is accrued differently. While whole life puts a portion of your premium into a savings account, while typically with universal you have the option to mimic the stop market (though not directly invested) and these policies typically have a minimum so you don't lose money and a cap that you are able to accrue up to.
Aegon variable life insurance
Aegon offers variable life insurance through Transamerica. If you are looking for a variable life insurance policy, please contact Transamerica directly.
Aegon final expense insurance
Final expense insurance is designed to ensure that any debts you have accrued such as medical expenses and any burial costs are covered by the death benefit of the policy. Final expense policies are typically whole life policies and Aegon's option is no different. While this coverage amount is typically lower, it still accumulates a cash value.
Aegon Ratings
Aegon has been granted consistently good ratings by all of the major ratings agencies in the United States. A.M. Best is one of the most reputable rating agencies in life insurance and they gave Aegon a ranking of A (Excellent). This rating shows that they are in excellent financial condition. This is very important when looking to buy a life insurance policy as you want to be sure the company you are purchasing from is financially stable enough to pay out the death benefit when the time comes.
Bottomline: Aegon has a variety of options for most
Aegon and now Transamerica have been offering life insurance policies at an affordable rate for over a century. It’s a reliable life insurance company with good ratings. With a full variety of options you can most likely find the policy that fits your needs.
FAQ
Should I buy a life insurance policy from Transamerica?
As we said, if you decide to purchase a life insurance policy from Transamerica, chances are, you will be happy and content with what you receive. As a stable company, they deliver a quality product time and time again. The right policy and company for you are completely unique to you and your situation. The best way to find out what you need is to speak with a licensed life insurance agent.
If you think Aegon/Transamerica is the one for you get a quote from them today.
