About Aegon UK
Aegon is a Netherlands-based financial services group with a major UK operation. In the UK, Aegon is primarily known for workplace pensions and investment products, but they also offer protection insurance including life cover and critical illness through financial advisers.
Aegon life insurance — key features
- Level and decreasing term life insurance
- Critical illness cover available as an add-on or standalone
- Waiver of premium available
- Trusts service available for writing in trust
- Access to Best Doctors second opinion service on selected plans
Aegon critical illness cover
Aegon's CIC covers a comprehensive list of conditions. Their policy wording is generally considered clear and their definitions are competitive. They include children's CIC on many policies.
Aegon claims record
Aegon publishes annual claims statistics. Their life insurance claims payment rate is consistently above 97%, in line with the industry average. They are financially strong with investment-grade credit ratings.
Pricing
Aegon is competitive on price for standard applicants, particularly for those purchasing through a financial adviser. Direct comparison is more limited than for insurers like Aviva or Legal & General who are widely available on aggregator sites.
Pros and cons
- ✓ Strong financial backing from Aegon international group
- ✓ Comprehensive CIC definitions
- ✓ Access to Best Doctors service
- ✗ Primarily adviser-distributed — less accessible for direct buyers
- ✗ Less prominent in online comparison tools
Verdict
Aegon is a solid, financially strong insurer. For those buying through a financial adviser, they are worth including in a comparison. For direct buyers, Aviva, Legal & General, and Royal London may offer simpler access.
Frequently Asked Questions
Yes — Aegon is financially strong, has a good claims record, and offers competitive products. They are better known for pensions in the UK but their protection products are well-regarded.
Aegon's protection products are primarily sold through financial advisers. Some comparison platforms include Aegon, but availability varies.