Aegon Life Insurance becomes the first life insurance company to offer a customized plan that offers coverage to surrogate mothers and egg donors, thus, effectively backing their financial well-being.
This trailblazing initiative supports the implementation of provisions in the Surrogacy (Regulation) Act, 2021, and the Assisted Reproductive Technology (Regulation) Act, 2021, spearheaded by India’s Ministry of Health & Family Welfare.
This new kind of life insurance plan provides a life cover of three years for surrogate mothers and one a year for egg donors to provide protection against any life-threatening complications arising out of the said procedures.
This product is novel in the sense that it is aimed specifically at surrogate mothers and egg donors, who have largely been overlooked by conventional life insurance products. In case of an unfortunate event leading to their death, the policy provides financial protection to their nominees. Offered as a group plan through ART-registered fertility and surrogate clinics, the company has already provided coverage for over 100 surrogacy procedures since the beginning of this calendar year.
