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Asked by: Divita.Sharma 413 views AegoniTerm Life Insurance
I am 35, and looking to invest in Aegon iTerm Online Plan (new). Please advice.
ashal jauhari on Feb 03, 2012 Log in to Reply
Dear Divita, Please understand all the pros & cons of online policies & then only decide to jump in. Be it Aegon Religare or Aviva or IPru or HDFC or Kotak.
Selection of insurer is a personal choice. Opt the insurer where you are most comfortable for all the things. Say Prem., Term, Sum assured, claim ratio, service standards, pan india presence…………………..
Thanks
Ashal
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KK Babu on Feb 03, 2012 Log in to Reply
Dear Ashal ji
These term plans also cover the life outside India also, or only limited to India?
Regards, KK Babu
Dear KK Babu, once a term cover is active, it covers your life all over the world. Geographically you may remain outside India for a long duration due to your job/employment but your indian cover ‘ll continue as long as the prem. are paid in time.
thanks Mr Ashal Ji. However, I could not understood the last sentence. You said, life is covered all over the world. But, in the you said, Indian Cover will continue? Can U pl. elaborate “Indian cover”.
Thanks again, Regards, KK Babu
ashal jauhari on Feb 04, 2012 Log in to Reply
Dear KK Babu, what I mean to Indian Cover was – Your Indian Term cover purchased from an Indian Insurer, ‘ll remain active all over the world even if in future (after purchasing the cover) you are not living in India.
Hope it clears your doubt.
Abhinav Gulechha on Feb 03, 2012 Log in to Reply
Hi
Insurance through term plans is a good idea and I congratulate you for this wise decision!
However, when you are choosing the preferred company, do check out for the claims settlement record of the company before you finalise ( to the best of my knowledge, Aegon’s claim settlement record is not very good!)
You can alternatively go for ICICI Pru I-Care or HDFC Click2Protect
Also, it always makes sense to split the insurance cover into 2 companies to diversify.
Also make sure to disclose yours and family’s complete medical history in the proposal form.
All the very best!
Ramesh on Feb 03, 2012 Log in to Reply
@ Abhinav,
Please tell the logic of all your comments: 1. Claims settlement ratio has been debunked multiple times in this forum itself. Moreover, online policies claim ratio are different from offline policies. Also term policies CSR is different from endowment policies’. So, making a comparison of an all-inclusive reported CSR is misleading at best.
2. Splitting the cover also increases management problems both during and after the ‘term’.
Ramesh
