October 6, 2008

Aegon Religare Life Insurance – New hope for Indian Insurance Industry

Aegon Religare Life Insurance which is recently renamed as Aegon Life Insurance is a new Player in Indian Insurance Market.

This company seems to have clear understanding about the Insurance Market and what India needs exactly, there main focus is on Term Insurance and that makes it respectable in my opinion, its not like other companies concentrating on Endowment and Money Back plans and tag them as Great Insurance products, which is nothing but Saving and investment products with a pinch of Insurance.

aegon life insurance

About Aegon Life Insurance

AEGON : Aegon is one of the largest life insurance and pension groups with market in over 20 countries (Americas, Europe and Asia) with 40 million customers. It has more than 160 yrs of experience.

RELIGARE : Religare is one of India’s leading integrated financial services groups. They have 1550 locations spread across over 460 cities and towns in India.

Products Offered by the Company

AEGON RELIGARE Life Insurance has excellent products as far as Term Insurance is concerned. They also have ULIP plans.

In Term Insurance they have the minimum rates for Term Insurance plans. You can check their Premium Calculator here. They have 3 different plans.

1. Level Term Plan :

In this cover remains same through out the Tenure. Premium for amount Rs.50,00,000 (50 Lacs) for 30 years.

Male/Female (25 yrs) : 9,000 per year
Male/Female (30 yrs) : 12,150 per year

2. Increasing Term Plan  :

Cover increases by 5% every year. Premium for amount Rs.50,00,000 (50 Lacs) for 30 years.

Male/Female (25 yrs) : 13,800 per year
Male/Female (30 yrs) : 19650 per year

3. Decreasing Term Plan :

Cover decreases by 5% per year (Tenure = 20 years max). Premium for amount Rs.50,00,000 (50 Lacs) for 20 years.

Male/Female (25 yrs) : 7,100 per year
Male/Female (30 yrs) : 7,900 per year

One can choose the plan as per there requirement. The best part is that there rates are very very low. This Term insurance is worth a consideration.

Click here to understand why you need Term Insurance and not Endowment or Money Back Plans.

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8 years ago

Hi Manish,

My Father’s Age is 62. Can I get the Term Insurance Plan for my Father? My Father is Having Diabetes. Can you Suggest me Which Plan will be Better and Around how much do i have to pay as a premium? Plz Help

Ryan Fernandes
Ryan Fernandes
13 years ago

Hi Manish,
First of all I thank You for yors articles are an eye opener to all. Especially for young generation. keep it up.

My age is 24+. & planning to buy Aegon Religer’s iTerm Plan sum of 50Lacs.
If I need to do any change in this or split this for 25 Lac. each in anothere insurer.
Plz. guide me. awaiting for your valuable answer.


14 years ago

There is a big difference in premium amount numbers that we get using premium calculator links available with this post (pointing to aegon religare )
and the one mentioned below(got from one of your earlier blog posts):
How is this possible ?
.-= srinivas´s last blog ..Google SMS =-.

Mithun John Jacob
Mithun John Jacob
14 years ago

But Manish, have you compared the other plans of Aegon Religare ?

And, also since it’s a pvt. co. the common folks will be having less trust when compared with LIC.

Mithun John Jacob
Mithun John Jacob
Reply to  Jagoinvestor
14 years ago

I appreciate what you’ve said. But, I was talking about the herd mentality(OVER-affinity towards LIC) and the aversion towards all pvt. players !
.-= Mithun John Jacob´s last blog ..Careers or Jobs : What is more Important? =-.

iTerm , amazing Term Insurance Policy from Aegon Religare
14 years ago

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14 years ago

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