Need guidance in buying Term Insurance from Aegon Religare or other company ?

POSTED BY Sandeep ON September 29, 2012 8:27 pm COMMENTS (2)


I have decided to take following 2 term plan of Sum Assured 50lakhs each.

My age: 35yrs

1. Kotak (offline): Policy term: 30yrs

Premium: Rs. 12079/-  (50Lac SA)*

Riders premium: Rs. 2100/-*  (Accident, permanent disability, CR – 10L each)

* including service tax

Kotak online does not have any riders, premium for online is Rs. 9887/- (incl service tax)


2. AEGON Religare iTerm (online): Policy term: 40 yrs

Premium Rs 5650 (50 L SA)**

Riders premium: Rs. 2086/-** ((Accident, permanent disability, CR – SA-need to check)

**excluding service tax


Total: 1cr SA, Premium: Rs 22000/-

But if I plan for term insurance only from AEGON Religare iTerm of Rs 1 cr, premium would be Rs. 14130/- (excl. service tax and including riders). I have calculated from AEGON Religare website.

Query: Could you please suggest which option should I take, whether 2 policy or single policy of 1Cr from AEGON Religare iTerm as premium for single policy is less about Rs. 6000/-.

Also, any feedback about AEGON Religare?

Thanks in advance.


2 replies on this article “Need guidance in buying Term Insurance from Aegon Religare or other company ?”

  1. Sandeep says:

    Dear Ashal,

    Thanks for the reply.

    Is there any specific reason to go for personal accident plan instead of ADB rider?

    I checked for AEGON Religare iTerm 1 cr plan for 25yrs., Premium is Rs 9500/- excl service tax., without any rider., with ADB rider, Rs 3000/- more with 63L sum assured.

    Also, review of AEGON Religare iTerm is mix. whats your view for selecting this company?


  2. Dear Sandeep, why are you going for 40Y plan, why not 25 or may be 27-28Y plan so that as you age 60-62-63, your financial liabilities ‘ll be over & you do not need life cover at that time. The prem. ‘ll be lower in this case may be 10K or 11K Rs. Please check at insurer’s website.

    In my opinion, you should opt a single cover of 1C Rs. from the insurer of your choice & that too with out any rider. Instead of ADDB Rider, i w’d like you to go for Personal Accident Plan of general insurance co.



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