Aegon the Netherlands today announced to lower, where necessary, the death benefit insurance premium for customers that have bought a Koersplan unit-linked insurance policy in the past.
This measure is part of a series of improvements that Aegon has implemented since 2000. The measure applies to all Koersplan unit-linked policies sold between 1989 and 1998.
The new premium is the result of Aegon's application of a reasonable premium for Koersplan, as determined by the Supreme Court – the highest court in the Netherlands, in June 2013. According to the verdict of the Supreme Court this new premium must be based on the premium for a comparable risk charged for a stand-alone death benefit insurance over the same period.
The costs of this measure will be paid out of current reserves. During the past decade Aegon has paid out a total of more than EUR 800 million on compensation payments and product improvements for customers with unit-linked insurance policies.
For the press release issued by Aegon the Netherlands we refer to aegon.nl
