Term Insurance

POSTED BY tarandeep singh ON October 30, 2012 2:53 pm COMMENTS (6)

I need to buy term insurance for me and my wife, each with a cover of 1Cr with a term of 30 years.

I have got a chance to visit website http://www.myinsuranceclub.com and saw comparisons of different products.

Aegon is the cheapest, but in one of jagoinvester.com article https://www.jagoinvestor.com/2010/12/term-insurance-plans-comparisions-india.html, aegon’s claim settlement percentage is lowest.

should this be a concern before i buy aegon for term insurance, instead of buying it from big players like LIC, ICICI, HDFC etc..

Please help.

thanks

 

 

6 replies on this article “Term Insurance”

  1. Ashal Jauhari says:
    February 17, 2013 at 1:38 am

    Dear Tarandeep, what’s your current situation? had you purchased any cover or not? How did you arrive at the figure of 1Cr? Was it any calculation or just your comfort no.?

    Please clarify.

    thanks

    Ashal

    Reply
  2. LifeInsuranceHelp says:
    October 31, 2012 at 10:39 am

    Dear Tarandeep,

    Yes, Claims performance of a company is one of the most important things you should consider before choosing a term plan. And we (ICICI Prudential Life Insurance) have a healthy claims record as cited in the following news articles http://bit.ly/HejDZA andhttp://bit.ly/HTbw7S. May you need more info about our claims performance or process, do let us know.

    Other things you may consider before choosing a term plan are:
    1. Service reputation of the brand
    2. Convenience offered in terms of medical checkups, online sign up/ payments and services

    Since term insurance is what you are looking for, you may consider ICICI Pru iCar e- our online term plan, which has been chosen by consumers as “Product of the Year 2012” in the Life Insurance Category based on a survey of over 30,000 people by Nielsen. This easy to purchase online plan allows you to get a cover of upto 1 crore without any medical tests.

    And as Ashal rightly said, it’s necessary to fill personal details with accuracy to ensure smooth claims process.

    To find out more about this product and to see if it suits you, please visit http://bit.ly/IgvQDe

    Please understand that we only offer suggestions based on your requirements, however choosing a policy most appropriate for you remains at your discretion.

    Warm Regards,
    Life Insurance Help
    ICICI Prudential Life Insurance

    Reply
  3. tarandeep singh says:
    October 30, 2012 at 3:44 pm

    Thats fine Manish 🙂

    thanks

    Reply
  4. tarandeep singh says:
    October 30, 2012 at 3:09 pm

    Thanks Manish for your prompt inputs. It helped.

    Would you recommend Aegon religare as a company for term insurance needs. In other words, do you have trust on this company with your knowledge and experience.

    thanks in advance

    Reply
    1. Manish Chauhan says:
      October 30, 2012 at 3:39 pm

      I would personally be comfortable with it . However that answer should not help you much , because you are not me 🙂

      Reply
  5. Manish Chauhan says:
    October 30, 2012 at 2:58 pm

    All the companies in the start of their business have low claim settlement ratio. Do you want to move ahead with that company or not ,is your personal choice . but if you mention everything properly and give right information while taking up the term insurance, there should not be any issue later.

    Manish

    Reply

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