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Is your family aware about your life insurance policy? Here’s a simple way to do it!

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The purpose of a life insurance is to ensure that your family receives the right financial support in the event of your untimely death. However, most Indians usually shy away from discussing things like insurance and estate planning.

This lack of communication has created a major problem. As of March 31, 2018, data from IRDAI suggests that across 23 life insurance providers, a whopping Rs 15,167 crore of insurance benefit remains unclaimed!

There are millions of Indians who have made the effort to invest regularly in an insurance plan, but after their demise, the family is probably none the wiser about it.

Even though this is a morbid topic to discuss with family, it is necessary to muster the courage to openly speak to all members for better financial legacy and maintain family harmony.

The IRDAI has asked all insurers to proactively identify the policyholders or their beneficiaries and pay out the claims. It has advised insurers to gradually reduce the pool of unclaimed amount by providing access to a search bar on their website.

Through this, policyholders or their beneficiary can figure if any unclaimed funds are due to them from these insurance companies.

The Aegon Life way

Aegon Life takes its responsibility towards your family members very seriously and has created a solution to address this problem. It understands the crucial need for nominees to get their due insurance claims to lead their lives as smoothly as possible after the loss of a loved one. Aegon Life’s claim settlement ratio stands at 95.67% as on 31 March 2018.

It is absolutely imperative your family knows about your insurance details and changes you make to it at all times. They should know how much is owed to them and how they can claim the sum during an unfortunate event.

While it seems simple to do so, we often keep putting it off for later. This is mostly, it is uncomfortable to talk about death and things associated with it. Aegon Life has thus come up with a simple solution to keep your family in the loop. What makes it special is that it is not only for Aegon Life customers. Anyone with any insurance policy can use this solution.

Create your " I Owe You card

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What is it?


Aptly called ‘I Owe You’, the Aegon Life solution is an editable e-card that you can create for your family. This is the first step in keeping family members informed about policy details. This is a to-the-point card that your nominee can use to carry out the mandated procedure to receive the insurance money.

This e-card has all the details that the nominee requires, name of the insurance company, policy number, plan name and sum assured. You can also add details such as riders and rider sum assured. There is also a helpline number on the card for Aegon Life customers where the nominee can call to ask for directions and straighten things out.

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I Owe You e-card for an Aegon Life policy holder

The ‘I Owe You’ card is editable so you can change details if there is a change or addition to your life insurance policy.

How can you create it?

The ‘I Owe You’ digital card is very easy to create and take just a few minutes. All you have to do it go on the Aegon Life website and enter your mobile number or email id to request an OTP. You then enter the OTP and your name. It will take you to the digital card page. For Aegon Life customers, post OTP authentication, policy details are auto-populated as long as the mobile number used is registered with Aegon Life. Policy holders of other companies you can input all your insurance details and create the card. You can then download the card and email it to your nominee. As the digital card is editable, you can also make changes when needed and email the updated info/card to your nominee.

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I Owe You e-card for other insurance policies

This will make the process easy and transparent for your family, and they can reference the ‘I Owe You’ card in times of uncertainty and get the insurance claim due to them.

Do not wait anymore. Create the ‘I Owe You’ card today with Aegon Life for your own mental peace and that of your family!


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