Mumbai: Aegon Life, a digital life insurance company pioneers life insurance cover tailored for surrogate mothers and egg donors, effectively backing their financial well-being. This 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.
The innovative coverage 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.The policy in case of an unfortunate event leading to their death will provide 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.
Satishwar B., MD & CEO of Aegon Life Insurance, said, “We are proud to be the first life insurance company in India to embrace this initiative. Our advanced digital infrastructure has facilitated the swift creation of this holistic and affordable solution, thereby backing surrogate mothers and those pursuing surrogacy. This represents our staunch commitment to equip our customers with the means to fulfill their life objectives.”