The Business Bytes
TBB BUREAU
MUMBAI, JUNE 01, 2023
Life insurance company Aegon Life has launched industry’s first policy that covers surrogate mothers and egg donors. This policy provides financial protection to their nominees in case of any complications or death resulting from surrogacy procedures.
It aligns with the Surrogacy (Regulation) Act, 2021 and the Assisted Reproductive Technology (Regulation) Act, 2021 introduced by the Ministry of Health & Family Welfare.
The policy offers a three-year life cover for surrogate mothers and a one-year cover for egg donors, and is available through ART-registered fertility and surrogate clinics.
Aegon Life has already provided coverage for over 100 surrogacy procedures this calendar year.
Aegon Life Insurance MD & CEO Satishwar B 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 commitment to equip our customers with the means to fulfil their life objectives.”
