Hi Manish
I am 34, non-smoker, non drinker & healthy male. I am planning to buy Term-plan.for a life cover of 1cr Rupees
I’ve Short-listed 2 policies
1) Aegon-Religare (Upto 75 years)
2) Aviva iLife(Upto 70 years)
My queries are
1) Should I take 2 policies one each from Aegon-Religare and Aviva for 50 Lakhs respectively? or
2) Should I go for only 1 policy & which one of the above 2 ?
For me premium amount is not an issue, But I want to ensure that both of these companies do exist for the next 40 years
I am in a sort of dilemma.Please help me in choosing the correct Term-plan
Thanks and Regards
Ranganath
Make sure you disclose all the facts true and best to your knowledge while taking up the policy.
As IRDA is their, you do not need to worry as no insurance company can reject a genuine claim.
Go for either of three:
>Aegon
>Aviva
>HDFC
check for riders also but do not go for accidental rider.. if you need it then buy a separate accidental policy.
Also, its your wish if you want to buy one single policy or divided the insured amount into two as it does not make any difference.
At the time of taking the policy you have to anyways disclose the company about all the existing insurance policies from other companies and if the claim is made, both the companies will contact each other and if one company rejects the claim the other will also do the same..
Divide the sum assured into 2.
For 50 lakh – Go for HDFC Life (HDFC Click 2 protect plan) – One of the best settlement ratio and one of the most reliable company too.
For remaining 50 lakh – Go for Aviva ilife or BhartiAxa online term policy.
Don’t buy policy based on low premium, but brand name, settlement ratio, features, etc.