I am 50+ and need term insurance till I retire.
Exploring various options available has left me very confused.
Would you recommend an online or offline Term Insurance?
I noticed that Aegon Religare is affordable and has some really satisfied customers. Their claim settlement ratio was 81% for 2014-15 as per IRDA and obviously not the best. The company’s website says this figure was 89% as in 28 February 2015.
The other option I have in mind is HDFC.
Would it be worthwhile going along with Aegon Religare or should one just stick with better-known names?
Thank you for your time.
Renee-Go for ONLINE. There is no advantage of going OFFLINE. When it comes to claim settlement ratio, it is a raw data which includes all types of products like endowment, ULIPs or Term Insurance. Hence, it is hard to judge whether the claims rejected or accepted are all Term Insurance or not. Hence, don’t over think on this data. Instead, look for comfort with company, plan feature and premium affordability. If all are matching then go ahead with Aegon and buy it by declaring all facts properly.
Many thanks 🙂
Yes I totally agree with @basunivesh always go for online term insurance and look for the company plan, features, premium instead of buying term insurance only on the basis of claim settlement.