7 replies on this article “Should I choose Aegon Religare Term Plan ?”

1. dipakvyas says:

   September 18, 2013 at 2:11 pm

   Thanks Freinds ;
   This is really good convesation and useful;
   Appreciate all feedback;
   Dipak

   Reply
2. Dipesh says:

   September 18, 2013 at 9:03 am

   Hi, You can definitely opt for AR if you hide nothing. I had opted for it last week. Overall experience quite smooth. They will come to your home get medical done. And if you send any mail for revealing info other than proposal form, they will paste that mail to policy document. Last thing almost all companies have same terms and condition, CSR and solvency ratio should naot be major concern as all policies regulated by IRDA.
   To conclude I would quote a famous statistician “Numbers are like bikini’s they hide more than they reveal” 🙂 {google more what they are hiding here}
   If you don’t believe in this quote please go ahead with LIC who is having 99.xx% CSR. 🙂

   Thanks,
   Dipesh

   Reply
3. Debojyoti Das says:

   September 17, 2013 at 11:15 pm

   Hi,
   I second Ashal on this. I too have AR term insurance. Though I have taken for 50L, still, I had to undergo Medical examination. I believe the claims which are not being settles yet have provided some wrong information while purchasing policy.
   I too think that if we change our social behavior like previously Non-smoking while taking policy and then started Smoking after X yrs., this information should be duly provided to Insurance companies so that in future, the claims doesn’t get rejected due to lack of information to the company. I make to update my address as well in their database when i move from one place to other.
   Hope this helps in taking a decision.
   best
   deb

   Reply
4. MY says:

   September 17, 2013 at 8:41 pm

   Dear dipak. I agree with ashal. I too have an Aegon plan. Do not hide anything from them, get your medical done, its in your favour to have everything clear before the policy so that there is no excuse on their part and go ahead. Thanks

   Reply
5. ashalanshu says:

   September 17, 2013 at 5:22 pm

   Dear Dipak, relax. For a 1 cr. term cover the medical ‘ll be compulsory & you can not hide any thing there.
   Please go ahead & purchase Aegon Plan.

   thanks

   Ashal

   Reply
6. dipakvyas says:

   September 17, 2013 at 3:17 pm

   Thanks Gaurav for the Valuable feedback:-

   Yes, My wife is home maker today.
   As far as CSR and Solvency raio is concerned, it was shared by MAnish in recent articleas:-
   Company Name Claim Settlement Ratio (2011-12) Solvency Ratio
   LIC 97.40% 1.54
   Kotak 92.10% 2.67
   Aviva 89.60% 5.4
   Bharti Axa 87.70% 2.14
   Aegon Religare 66.10% 3.22

   LIC no doubt would rank no 1, but it has very high premium. Am already have one term plan of LIC= Amulya Jevan for 25 L. has premium of 16K.

   I would like to go for the cheapest and best option other than LIC, at the same time not letting my money go waste when it needed the most. The premium amount varies a lot between two companies and that makes me nervous. Every company has their unique way of marketing, are more well known companies has brand value which cost high on premium. New companies want to make their mark and hence offers better alternatives. How do we choose there?

   Thanks for the PPF advise, Can you help me know what is the return in PPF today?

   Regards
   Dipak

   Am absolutely have no plan to hide anything (esp. medical), however the verdict is still in the hand of Ins. company wether have hidden or not. What we can provide is all the details which they seek from us at time of buying the policy in good faith; right?.

   Reply
7. Gaurav Doshi says:

   September 17, 2013 at 3:03 pm

   Hey Dipak,

   What I have read and understood from Manish’ blog and books is that if your wife is a home maker then you need not get a term policy on her name. I am sure if she is no more then you won’t want money on her non-existence. As you are a working member. Ideally you need to cover yourself and your life so that your wife and daughter not suffer in you not being there.

   Aegon Religare not sure but what you need to look while taking the policy are following points: (1) Claim Settlement Ratio (2) Solvency Ration to an extent (3) What is the tenure you want the policy for (max till 35 years with LIC and Aviva) rest are till 30 years only. (4) what is the premium amount you can afford.

   When I shortlisted my term policy I have considered only LIC, ICICI, HDFC and AVIVA. And freezed on two LIC and Aviva. My take was both these policies are till 35 years. Plus I was sure of giving all the correct information.

   LIC Jeevan Tarang – don’t know what the product is but best thing would be to open a PPF account on your daughters name (make your wife the guardian, in case you have already have a PPF account on your name). As per RBI regulations if you have an PPF account and you are also guardian for her ppf account then cummulative you will not be able to put more than 1lac rupees. But if your wife is guardian for daughers account then you can invest 1lakh + 1lakh. Note: Tax benefit only on your account under 80C.

   Thanks, Gaurav

   Reply

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