I am 33 years male and looking for term plan of 1 Cr. Considering all the factor mentioned at your blog, I shortlisted few companies and found premium of most of the companies almost same. But Agon Religare provides term plan till 80 years and also they are having one inbuilt rider i.e. terminal illness (25% at terminal illness and rest 75% at death during policy period).However claim settlement ratio is not good as compare to Max, ICICI, and HDFC.
Shortlisted plan: ICICI, HDFC, MAX, KOTAK, AGON RELIGARE.
It all depends upon your requirement and needs. You need to understand which plan will suit you more. If you really believe , that you would need a plan till 80 years of age , than please go for Aegon, My opinion is that you should only take a life insurance plan up-to your retirement age.
As far as premium is concerned Aegon does have an edge. All the best.
Do you feel term insurance required up to 80 years of age? Instead of opting for riders, you can buy critical illness insurance from general insurers at cheaper rate with many more features. So is it required?
Hi Basu ji,
I am not looking for any rider but AGON is having inbuild rider in their basic term plan.
Also Premium of HDFC and ICICI in on higher side i.e. 15k approx while MAX, KOTAK AND AGON is approx 11k.
AGON is providing term plan till 80 years of age while other are providing till 73 years of my age.
What do you think?Should I proceed for AGON or can chosse between MAX /KOTAK also as all are having same terms and condition except AGON.
In my view riders at fist instances not required. Second and most important point is, you need insurance cover up to your working life. Once you start your retirement life, then life insurance is WASTE. I am neither against or nor for of Aegon. But making you aware of facts before going for buying.
Could you specify What does General Insurer means. Which companies are general insurer