Term insurance plan – Aegon Religare/ Aviva + LIC online(when announced) – Please comment

POSTED BY Ramz ON May 22, 2012 3:25 pm COMMENTS (5)


After doing some research on term insurance plans, I finally decided to divide the sum assured into two. 75+75. I chose this amount as I am having a house loan of 18L.

Coming to choice of term plans, I found LIC, HDFC, ICICI, Birla are having good consitent settlement ratios. Aegon(i Term) is more of a starter in terms of settlement ratios

Seems like only ICICI had the accident death rider. Aegon has riders like Accident and critical Illness. No riders for HDFC.

Regarding less premiums. Aegon is the clear winner and Aviva coming next i suppose and then HDFC, ICICI.

So after the above research I found, a mix of private and LIC will serve my purpose. ICICI is having higher premiums. But better setllement ratio.

However I prefer LIC(online when announced) for settlemnt issues.

In Aegon, I found riders and less premium. So I can use this less premium option to take LIC at later stage.

AS of now, mostly planning towards Aegon but Aviva is also in mind. Please help in taking the final decision.

5 replies on this article “Term insurance plan – Aegon Religare/ Aviva + LIC online(when announced) – Please comment”

  1. Ramesh says:

    The settlement ratio of online LIC will be DIFFERENT from the current settlement ratio (which includes mostly endowment policies). 🙂

    1. Ramz says:

      Hi ramesh,

      Thats a valid point. 🙂 Hope it will continue the same here

      1. Dear Ramz, had you checked the T & Cs of any Rider (mainly Accidental Death & Disability Benefit Rider aka ADDBR). I’m not asking specifically for Aegon but in general for all life insurer. Please check & post your findings here.

        It’s always advisable to go for a plain vanilla personal accident plan or CI plan offered by General insurers.

        Regarding your waiting for LIC online plan, you are keeping your family at a high risk for not having insurance.



        1. Ramz says:

          Hi Ashal,
          I am planning to take a term insurance in the coming few days. LIC, I was planing as the second option. As I said will be going for 75L and 75 L in each private and LIC.

          I will surely check the issues regardiing riders as mentioned by you. Thanks for the concern,

          1. Dear Ramz, please check the prem. for 75L & 1C for the choice of your pvt. insurer & if it suits you go for 1C then & there.



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