Hi. I am 24 yrs old. I am planning to buy term insurance of 1 Crore. As i am 24 yrs old so i have limited choice so that i can get cover till 60 yrs of age. Some of my research:
Aegon Religare : 6400 ( 40 yrs term)
Aviva i Life: 7156 ( 35 yrs term)
Bharti Axa: 6300 ( 41 yrs term)
HDFC Life: 8600 ( 30 yrs term)
Max Life: 6200 ( 35 yrs term)
My question is if i am providing the right information to insurer and in future my family need to raise claim if something happens to me does claim settlement ratio really matters? Because if the claim is really genuine and 100% clear still should i consider that?
Please share you suggestions for the insurance companies i mentioned. Do you prefer anyone and if so why? I am planning to buy insurance in next financial year that is in April 2014. Do you think that there is a chance that premiums may go up in next FY?