Aegon Religare iTerm

POSTED BY Keyur Jinwala ON September 10, 2013 7:05 pm COMMENTS (3)

Hi

I want to buy a Term Insurance (iTerm). I did some research and found that Aegon Religare is providing term insurance at lowest possible premium. Also, it has features like riders of AD, WoP and benefit on Terminal Illness. Most importantly, they are providing max policy term (upto 75 years of age). This compells me to buy this product (iTerm)

However, the only spoilsport that I found is its CSR (Claim Settlement Ratio) – With 66% CSR, it is one of the few companies at bottom of this list

When talked to companies sales person, he claimed that low CSR is due to low number of claims. He said, out of 29 claims for iTerm product, 26 have been settled and only 3 have been rejected due to medical conditions not being revealed.

Can anyone confirm this and suggest if it is good to go for Aegon Religare term insurance product iTerm?

Note that I am looking for term insuarance that provides policy term at least till 70 years of age. Currently, I am 30 which means product should offer policy term of at least 40 years.

Another company providing policy term of 40 years is Tata AIA. Can you also provide review on that?

 

 

 

 

 

 

 

3 replies on this article “Aegon Religare iTerm”

  1. ashalanshu says:

    Dear Keyur, so you mean to say, by hook or by crook you should die at age 74 so that your family can cash your death from this Term plan for age 75? Justified? Think & answer.

    thanks

    Ashal

  2. Mustafizur Rahaman says:

    Keyur,

    Before answering your questions, I have couple of quick questions for you.
    1. Do you intend to work till 70 yrs(you said you are presently 30 + looking for term of 40)
    2. God forbid, if anything happens to you when you are 65, would your family suffer financially? Financially will not they be self independent by then?

    1. Keyur Jinwala says:

      I do not think that I’ll work till age 70. But I believe paying premium of around 5000 wouldn’t be too difficult at that time. I would have made that much saving by that time. Having said that life is full of uncertainity. Yes, by that time my family would be secure and independent. I’m already having term insurance till age 65. And I want to have one which covers me till age 75.

      What I am looking for is
      – review on the company Aegon Religare
      – authencity of the claim that they are making that 93% of the cliams are settled

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