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.
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.