Hi Sreekanth ,
Need your Expert view on "Aegon Life iTerm Insurance Plan".
Age = 33 , Sub Insured = 50L , Term = 32yrs , Policy Premium = 5102/-
1.Reason why Aegon is charging so much less premium (wrt others icici , hdfc , max with same parameters) ?
2.Claim settlement ration may be less(understand) , But What are the exact Loops wholes in Aegon term insurance ?
3.If opted Aegon for 100 yrs (as aegon max age is 100) , It means nominee will get the sub insured 100% (assuming person will not last till 100 yrs age) without any If and But.
Seems to be good , but not convinced why ??
Regards
Harsh Bansal
@ 99588984**
1 Answers
Hi,
You may take a term plan from any insurance company of your choice, it should not be of any issue. But do disclose all the required information in the proposal form accurately and honestly, that's it!
"As per the recent amendment to Section 45 of the Insurance Act, If your policy is 3 years old, no matter what happens, the life insurance company will not be able to deny the claims. So, your life insurance company has only 3 years in hand to reject the policy based on any mis-representation or mis-statement. Once 3 policy years are completed then the life insurance company has to settle the claims and can not reject them."
For IFs and Buts one needs to go through the product brochures and policy wordings to find out bout the EXCLUSIONS (if any).
For ex: Death due to terrorist activities or war may not be covered by some Plans.
Thanks for the guidance
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