December 25, 2013 7:56 am
Which Company’s Term Insurance Plan Should I Choose.
Or, Should I wait for 3-4 months to get new policies launched.
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Dear Sudhanshu, chose any insurer from the seldcted list. Declare all the details for you, your family, your health, job etc. My congratulations to you in advance for purchasing a term cover. Regarding taking time to purchase, please take some time to research but certainly not a life’s time to decide. 🙂
Aviva claim settlement ration is low compare to HDFC but premium is lesser than HDFC.. This confusion is with all the term insuarances . I am also in cvonfusion which term insurance should i opt for.. Plz suggest me the best one. What about ICICI, which is best it seems. claim settlement is 96 %. among all private players icici is better.. or any other policy is better than this…?
Dear Sudhanshu, first of all, please accept my congratulations that you know, nothing ‘ll happen to you in next 3-4 months.
There are so many online term covers and offline term covers. On what basis you opted only these 5? Any reason of sorting only these insurers?
Though I am not god, but at least this much i can be sure (not certain) that i am not going to die in next 3-4 months.
3-4 months i have wrote just as indicative. I want to take term insurance as soon as possible. I have come across many term insurance plan (few were launched very recently like from maxlife and aviva which are offering new features like annuity payments). I am in little confusion of choosing anyone. Also IRDA has came up with new regulations, and people like me are hoping new policies with better features will be launched in coming days.
So, I have put few options.
Coming to how i zeroed on above 5 company, I have downloaded brochures of above companies policy. But till now I have restricted myself to choose from above 5. My research is on, and this thread is a part of that.
Just want to be sure that the policy i will take should be the best suitable to me. that’s all.
Thanks for your questions, discussion and guidance.
Will appreciated further discussion and guidance.
HDFC is a better option as their claim settlement ratio is better then Aviva.
I would personally go with Aviva or HDFC , because more and more people are talking about it and those companies seem to be better to me
Vijay: Correct. This information is available at policylitmus site.
For all of them (and others), I think it might help to know 1) the claim settlement ratio, 2) settlement turn-around time. With that in hand, I’d then compare the premiums from the short-listed ones to zero in on two of them to split my insurance with
I forgot to add..
rs 4000 annual premium for 50L cover.
check bharti axa’s term plan.
for 30 yrs person (non-smoker), 25 year paying term, 25 year policy term, they charge Rs 4000 per year.
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