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?