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I hereby notify you of my decision to terminate the contract relating to the Aegon service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Aegon: Easy Method
What is Aegon Life Insurance
Overview
Aegon Life Insurance (often called Aegon) is a life-insurance provider in India offering a mix of term, savings, and hybrid life products designed to provide financial protection and savings for policyholders and beneficiaries.
Key characteristics
Products include term cover, savings-cum-insurance plans and add-on covers. Policies are typically issued with standard documentation, medical underwriting requirements and options for surrender or cancellation under regulated rules.
How to cancel Aegon Life Insurance
Immediate steps to prepare
- Locate your original policy document and policy number before initiating cancellation.
- Decide whether you are within the statutory free-look (cooling-off) period to seek a refund.
Cancellation methods
- Visit the nearest Aegon Life branch with the completed cancellation/surrender form and required documents and submit them in person.
- Alternatively, contact customer care by phone or email to request the cancellation form and follow the instructions provided.
- Some online options may allow you to download and submit the cancellation form; submission within the free-look period is required for refunds.
What happens when you cancel
Access and policy status
Once Aegon receives a valid cancellation or surrender request, the policy is marked for cancellation and benefits cease as per the policy terms.
Renewals and reinstatement
If cancelled during the free-look period the policy is terminated and may not be reinstated; outside free-look a surrendered policy normally cannot be renewed and reinstatement rules depend on the product and underwriting.
Will I get a refund?
Free-look (cooling-off) refunds
If you cancel within the statutory free-look period (generally 15 days from receipt of the policy document; can be up to 30 days for distance marketing) you are eligible for a refund of the premium paid.
The refund is subject to deductions such as proportionate risk premium for the time on cover, stamp duty and administrative expenses.
Outside the free-look period
Generally, no premium refund is provided if you cancel outside the free-look period. Surrender values, if applicable, are paid as per the policy contract and vesting rules.
Aegon Life Insurance plans and pricing
Plans summary
The table below lists illustrative plans and sample pricing drawn from third-party listings. Prices are examples and can vary by age, gender, health and distribution channel.
Pricing notes
All prices are illustrative. Confirm exact premiums and features with Aegon or an authorised distributor before purchasing.
| Plan | Price | Period | Features |
|---|---|---|---|
| iGuarantee Max Savings | ₹500.00 | Monthly | Savings - cum - insurance plan, guaranteed returns + life cover |
| Term Plan + COVID‑19 Cover - ₹5 lakh Sum Assured | ₹903.00 | One‑time/Annual | Includes ₹50,000 hospitalization cover for COVID‑19 |
| Term Plan + COVID‑19 Cover - ₹10 lakh Sum Assured | ₹1,805.00 | One‑time/Annual | Includes ₹1 lakh hospitalization cover for COVID‑19 |
| Term Plan + COVID‑19 Cover - ₹25 lakh Sum Assured | ₹3,737.00 | One‑time/Annual | Includes ₹1 lakh hospitalization cover for COVID‑19 |
| Term Plan + COVID‑19 Cover - ₹40 lakh Sum Assured | ₹5,669.00 | One‑time/Annual | Includes ₹1 lakh hospitalization cover for COVID‑19 |
| iTerm Comfort (via Bajaj Finserv) | ₹13,989.00 + ₹2,518.00 (GST) | Annual | 25‑year‑old non‑smoker female, coverage till age 70, up to ₹1 crore |
| iTerm Prime (via Bajaj Finserv) | ₹9,190.00 + ₹1,572.00 (GST) | Annual | 25‑year‑old non‑smoker female, coverage till age 70, up to ₹1 crore |
Your consumer rights in India
Free‑look and statutory protections
You have a statutory free‑look (cooling‑off) period - usually 15 days from receipt of the policy document, and up to 30 days for distance or online sales - to cancel and receive a refund after permitted deductions.
Grievance redressal and escalation
If your cancellation, refund or claim is delayed or disputed, escalate through Aegon’s grievance mechanism (branch, email, Grievance Manager or COO desk).
If unresolved, you can approach the Insurance Ombudsman or file a complaint with the Insurance Regulatory and Development Authority of India (IRDAI) as per standard consumer channels.
Customer experiences
Positive feedback
Some customers report a straightforward free‑look cancellation process and clarity on surrender procedures when documentation is complete and timelines are followed.
Negative feedback
Other customers have reported issues such as agent mis‑selling, delays in refunds or support responsiveness and disputes over surrender calculation.
A published consumer tribunal decision also highlights that disputes over repudiated claims and service deficiencies have occurred and been subject to legal challenge.
Documentation checklist
What to bring or submit
- Completed cancellation / surrender form (obtain from branch or customer care).
- Original policy document and a copy of the policy schedule.
- Cancelled cheque or bank passbook copy for the claimed payout account.
- Identity proof such as PAN card or Aadhaar and current contact details.
- NRE bank statement if the account is an NRE account (for NRI policies).
Additional recommendations
- Keep copies of all submissions and obtain an acknowledgement when you submit documents in person or by email.
- Note down reference numbers and the name of the representative handling your request.
Common mistakes
Missing or incomplete documentation
Submitting an incomplete surrender form, missing original policy document or wrong bank details is a frequent cause of delay. Always double‑check all fields and required attachments.
Ignoring free‑look deadlines
Assuming you can get a refund after the free‑look period is a common mistake. Refunds are generally only available within the statutory cooling‑off window; outside it, surrender rules apply.
Comparative recap
Quick comparison
The table below summarises key outcomes when cancelling within versus after the free‑look period and recommended action.
How to use this recap
Use the table to decide the fastest route to cancellation and to understand likely financial outcomes and documentation needed.
| Scenario | Refund | Typical processing route | Likely outcome |
|---|---|---|---|
| Cancel within free‑look period | Refund of premium minus proportionate risk premium, stamp duty and expenses | Submit cancellation form + documents to branch or customer care | Policy terminated and premium refunded (after deductions) |
| Cancel outside free‑look period | No premium refund in most cases; surrender value if applicable | Submit surrender form + documents; insurer processes as per policy terms | Policy terminated; surrender value (if vested) paid per contract |
| Disputed refund or claim | May require escalation | Use insurer grievance channels; if unresolved, approach Ombudsman/IRDAI | Potential reversal by tribunal or ombudsman after review |
After cancelling
What to track
Keep acknowledgements, email trails and reference numbers until the refund or surrender settlement is complete and reconciled to your bank account.
Helpful links and further reading
- How to cancel Aegon Life insurance (PolicyBachat)
- Guide to cancelling Aegon Life policies (ShunIns)
- Aegon plan overview and terms (BankBazaar)
- Customer reviews (Trustpilot)
- Relevant consumer tribunal decision (LiveLaw)
Address
Registered office
Building No. 3, Third Floor, Unit No. 1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai - 400063, India
Contact tips
For branch visits and postal submissions, call Aegon customer care first to confirm the nearest active branch, required forms and opening hours.