AEGON Life

As soon as I purchased the policy, the health checkup was scheduled at my home itself on a specific day and time. It went fine. Then the policy was issued within 10 days once the medical examination report (MER ) was ready.

The MER copy was also issued as a part of the Policy. There were few discrepancies regarding weight and height. Those were endorsed within 15 days of issue of the policy. I got the endorsed letters within 7 days.

It has been more than a Year that I’m having this policy. Recently paid the Second Year premium. Awaiting for the few more innovations within this policy going ahead having the additional riders.

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I once again bought(iterm plan, policy no:513094903445) an online term policy a week back for me. Earlier I bought it for my wife. Once again Ms kareena helped me in buying process and she is the best person who not even helps u in understanding but also in buying the policy even though it is the role of a RM. She is always available on mobile if you have any issues regarding policy purchase or service.

Best services from Aegon team

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The first insurance cover which provide the life cover up to 75 years. provide good critical illness  covers. The customer care service is very good. Not too much documentation required. Very easy to purchase & a plan which protects the life of our loved ones even when we are not there to serve them. I believe that every one should purchase it in their life.

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This plan is great for the family bread earner esp for salaried person. The premium amount is the lowest in industry plus the tax benefit. Further the staff are good and they guide you well while purchasing the policy online. Still, I had given this attribute 4 star and this deduction is because in case you are just visiting the website for information and comparison the staff pest you like anything for buying the product.

However considering they need to meet their targets, it's acceptable.

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I think Aegon Religare term plan is having attractive features like maximum life coverage up-to 75 years and Premium is also low.

In addition to above you can avail the benefit of additional riders also:

1. Accidental Rider: It cost a small amount of additional premium and get the benefit of x 2 death benefit in case of accident.

   
   




2. Critical Illness Rider: By adding small amount you get the benefit of wavier of premium if at any time you are influenced by any critical disease.

   
   

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I was looking for a term plan worth 1 crore having maximum covering age. Aegon religare suited to be the best among the lot. The policy issuing process is very smooth.

Samples for medicals are collected at my residence instead of me going to the clinic. The policy was also issued within 10 days of subscribing.the only concern is its low claims ratio.

Hope it improves with time.

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Best Plans here in Aegon at very less premium.

if we can invest Rs 50 /- per day(min) on transportation then cant we spend Rs.50 per month as a fair to our LIFE JOURNEY and After we are not there( finger crossed)  for our FAMILY's LIFE JOURNEY.

So I have chosen Aegon Religare Life Insurance as my Travel Partner for LIFE JOURNEY.

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Hi, I Ravi chakra working for BSNL has taken a policy of  25L from aegon a year ago .The procedure was very simple , fast and no confusion which might be with other companies. They have conducted medical tests very carefully and patience that both diagnostic people as well as policy staff  have called me for my leisure time for medical tests .

The staff are so transparent esp Mr. UTTAM DUTTA who commits to his word. Mail communication is also very good from Anita Rao. I am getting calls from staff reminding me of policy terms and also introduced new policies with more benefits. I felt that latest updates and information provided was more useful and taken a new policy this year too.

I am very much satisfied with this policy and the procedures followed by Aegon as they are so clear with excellent services in the form of medical tests, calls follow up & mail correspondence.

Thanks for their co-ordination and support. Hope this continues for a better future.

With Warm Regards

Ch Ravi Chakra

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I have heard often from financial planner to have term insurance to take care of unforeseen circumstances may come in one’s life. It is therefore to have term insurance with adequate coverage to strengthen the financial planning and hence I decided to buy term insurance. In respect of company chosen Aegon Religare life insurance I got this from policybazaar where I compare the similar plan with peer companies and I find aegon religare is better among peers.

Company is providing good coverage with economical premium and that thing attract me and the overall plan along with critical care rider also have good advantage. The worst thing is that after medical examination they still needs time to check critical illness procedure and they told me over telephone it takes six to seven days to get back to you.

Experience of working with the site was quite good.

Thanks

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It was a search for a long time to get insured. I feel very much secure and safe. Not too much worried about what happens next.

Great Support from the team from the finding a solution to the closure.I feel the rates can be little more competitive. They have send a doctor to collect the blood and urine samples, it was a great comfort feeling,

The policy document gives almost all the details of the policy.

I am overall very much satisfied with the product.

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I have recently taken the Aegon Religare iTerm insurance plan.This plan is better than the other insurance company's products available in the market.

It is low cost and high coverage plan.

I am a non smoker and non alcoholic person and 30 years of age and costs me around 6800 rs per Annum for a 65 lakh policy.

I had taken the medical test conducted by the company and that at my place. I did not have to go anywhere for this.

The best part is its quick service.My test was conducted on Saturday and since my medical reports were good, I have been issued the policy on Tuesday itself (both soft copy and hard copy of policy documents).

Therefore I recommend this iTerm plan to all the folks who are reading this review and part of this site.

I will also ask my friends to go this plan.

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I took iTERM plan from the newbie Aegon Religare life insurance considering below points: 1. Value for money: Perhaps the cheapest life cover among all life insurers in the country 2. Hassle free: Bought it online in just 10 flat minutes uploading necessary supporting documents as mandated 3. Courteous: Personalized care by relationship executive/manager 4.

Transparency on Claims Settlement Ratio: One of THE important considerations I had to make while I was evaluating iTERM from Aegon Religare vis-a-vis the public life insurer LIC.But the huge differential in yearly premiums and the transparency with which Aegon Religare has maintained on its website the overal claims made & reasons for not honoring the rejected ones, gave me enough confidence while choosing this company also huge saving sums for me in return.

Hence, I would advise everyone who is evaluating to buy life cover to choose iTERM plan from Aegon Religare Regards, Vishy23

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I had purchased an iTerm policy, all went well, I had purchased it with critical illness rider, but for some genuine reasons they said they cannot give me that with rider and they will pay me back rider charges in a week.

It has been more than a month and multiple reminders I am yet to get my money back. If they cant settle few hundred rupees then how can I trust them on settling my claim after my death? BIG mistake done by me.worst part is today I got a call and one of their agent(i had requested a call back weeks back) for other policy that I had and had surrendered as I bought iterm and that lady said.that I still have that policy active and she also confirmed that they have received the premium that I had paid them and I will get receipt in a weeks time.

Not sure what kind of system they have in place, which shows policy active when its not and says I had paid premium when I have not.

This is MOST PATHETIC .no online commerce company I have dealt with had this poor systems in place. I am worried heavily now.

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I bought iterm plan  Policy No 513054376577?, Document has been issued on 8 May 2013. Since that day, I am waiting for my document. First it returned to the branch and they were not even aware of unsuccessful delivery, when I inform them, then they started working on it. Aegon Religare - execuse was, we will check with concern team and rearrange the delivery (without finding why delivery was not successful- I inform them- this is bluedart is saying)

That time Mr. Sunil and Ganesh assured me next time you will definitely get your documents,  when I checked the status today again it was returned to sender Again. This also I Inform them .

Aegon religare is most careless company I ever came across. every time I had to inform them about delivery. Now today again Ms.Nishitha saying, once she received the document, again she delivered it to my address but with the help of  aegon religare office colleague.

Do You Really Thing This Is a Professional Behavior? By the way I am living in Pune Itself, 100's of letter/ courier I have received on the same address. Does it take 15 days to deliver the document from Mumbai to Pune? Still I have not received it.

A COMPANY WHO DOES NOT EVEN ABLE TO DELIVER THE POLICY DOCUMENTS ON TIME, THEN HOW CAN YOU TRUST THAT THEY WILL SETTLE CLAIM FOR YOU WHEN YOU ARE NOT IN THIS WORLD....

There job is only to sell policy after that they do not even care does customer receiving the documents or not?

My Recommendation: Do Not Buy Anything From Aegon- Religare.

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Hi, I applied for a term policy 513044285305? and informed them honestly that my other insurer company has raised my premium on grounds of diabetes but later charged with normal premium after there CMO and underwritters reviewed the case.

Aegon does not listens to customer while underwitting and strongly feel that they attract new customers with low premium and the moment they find a high income bracket or slight deviation in medical records will raise the premium.

My biggest complaint with the company is that they do not listen to customers and neither can be given any justification. Also when for same risk if one insurer is not charging higher premium then how come Aegon for the same risk is charging a higher premium.

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It's been a excellent experience interacting with the AEGON Team. The day I started with checking the eQuote an representative (Karan) started follow-up with me and He clarified all the queries I had.

Once I made the payment another representative (Cynthia) followed up with me. The rest of the process after payment was equally smooth where in document submission and medicals(Done at my Residence)..etc were done as per plan.

I strongly Appreciate the Aegon team in being highly customer friendly and very prompt in responses. I have no concerns in recommending the iTerm policy, The only policy which comes with Critical illness rider and comparatively good quote.

Cheers, Keep up the good work...

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On 31-12-2012 I attach with company name as Aegon-Religare-Life-Insurance. I made payment for full medical policy. But today when I go for studied the file of  the policy then I get to now that inset of full medical policy (health insurance) I get sign to life insurance policy.

Company gave me wrong information about their policy. Now I informed company office- the mall Ludhiana, business manager and executive from date 30-3-2013. They are giving no response after eight day.

At last I going to close my policy  and for refund of my payment made to company against medical policy then also from the company business manager side their is no response.

At last I am forced to complain to I R D A and legal step against company and company executive (broker).

My no.9023298777

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I have chosen their term insurance plan because of low premium & additional optional riders. I have paid premium for  term insurance plan on 02nd March 2013.

On 08th March they conducted my medical tests & on 22nd March they issued my policy which was received by me on 28th March. A good, hassle free experience.

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I like every thing about this product. its cheap, its simple to buy, customer care is prompt. however I have doubt on their claim settlement ratio. As mentioned on their website that the claim has been rejected since the policy holder was suffering from Asthma, BP etc at the time of policy issue.

My question is since there a medical test done by company and if anything is found wrong, premium is adjusted accordingly. Why are claims rejected stating these reasons afterwards?

Also how is it guaranteed that my my claim will be honored. I have provided correct details as per my knowledge (not diabetic, no BP). If the policy is issue to me should I consider that all my medical reports were fine?

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There are lots of things which comes in your mind when you want to choose the best for your loved ones. It becomes more complicated when you know that you might not be around if the same were to be given to them. That is the problem in choosing the best possible Term Insurance for yourself.

There are many term insurance plans in India, but all of them have different premiums and features which confuses a prospective customer to choose the best term plan for him.

I belong the financial industry and enjoy a senior position as a VP with a leading Advisory firm. The best thing I can do professionally is research and select the best possible financial instrument.

The below mentioned are term insurance offered by insurance companies, which I studied:

Company Name  Policy Name   Mode Riders Available    Premium(1 crore SA)

Aegon Religare iTerm Online Yes 7, 300

Bharti Axa e-Protect Online No 7, 300

Aviva i-Life Online     No     7, 368

HDFC Life Click2Protect     Online     N
o     10600

Kotak e-Preffered     Online     No&
nbsp;    10825

Edelweiss Tokio Life Protection Plan     Online     Yes &
nbsp;   11, 500

Metlife Met-Protect     Online     No&
nbsp;    11, 600

ING Vyasa My Term Insurance     Offline     NA&n
bsp;    11, 891

ICICI Prudential i-Care     Online     Yes 
;    13000

DLF Pramerica U-Protect     Online     Yes&n
bsp;    13, 400

SBI life Smart Shield     Offline     Yes&nbs
p;    16, 798

Bajaj Allianz iSecure     Online     Yes&nbs
p;    18400

Max NewYork Platinum Protect     Offline     Yes&nb
sp;    23, 500

IDBI Fedral Termassurance     Online     N
o     25, 350

LIC Amulya Jeevan     Offline     No 
;    33, 600

Future Generali Smart Life     Online     No &n
bsp;   NA

Birla Sun Life Protector Plus     Offline     Yes 
    NA

Tata Aig Maha Raksha     NA     NA &nbs
p;   NA

Reliance Term Insurance     Offline     NA&n
bsp;    NA

Canara HSBC Life Pure     NA     NA  
   NA

India First AnyTime Plan     Online     NA &n
bsp;   NA

Sahara Life Insurance Kavach     NA     NA &nbs
p;   NA

Star-Union Dai-ichi Term Plan     NA     NA  
   NA

Confused? Dont be. Something are very simple and it should be looked at it like that.

The premium are for a 30yr old, 30 years policy.

Before I proceed, there are few things which I would want to discuss about myself.

I am 33 years of age and a smoker. Not actually something to be announced to the world but a light occasional one. Around 1-2 on a daily basis. In such a situation,  what would a normal person do? Avoid telling the same to the insurer. Don't! The intention should be right. I declared more than what I normally smoke. Why? Because I wanted everything to be covered. Anyways there could be an additional test which could declare you a liar! Save yourself of that embarrassment.

I also quoted my income correctly. Usually the value of your life is 18x of your annual income or 50-your age x Annual Income. So know how much your cover is.

Share everything about your health with your insurer. Everything. Past(if any), Present and possible future. Dad, Mom, brothers, sisters everyone's health. All close blood relation. This helps an actuary(A person who compiles and analyzes statistics and uses them to calculate insurance risks and premiums) to understand the risk component in insuring you. Be frank and open. Its like the 4 commandments of a happy man. Never hide anything from 4 people: Doctor, Lawyer, Insurer and your wife! People tend to hide the most from these 4!

Coming to my selection and experience!

1. So who covers me for almost life long? They are LIC and Aegon Religare(ARLI).

   
   




2. Who has a better claim settlement? This is important to understand. Very Important. Comparing an oldie with a newbie is utter rubbish. ALRI can never have a good claim record unless 40 years into this business. Any claim coming now is new and fresh(say less than 5 years old policy) hence requires extensive scrutiny. If it were having large number of claims and all were honored then it keeps other insurance takers at risk. The system of insurance is that all insurers share the risk. So if someone claims, our burden(survivers) increase. This could even out in next 4 decades and I am confident that ARLI would be a leader then. One should also be very very crystal clear about his health to avoid the decline of claim. If its valid, its valid. No one can stop it. You have law with you.

   
   




3. Whose cost is lower? ALRI, Bajaj, ICICI and HDFC. However, I knew that the advertised premium of ARLI was on per crore is for a male at 30 and non-smoker and non-drinker with no medical history or family history. That each case is different and the i-term premium quoted is best and closed to the real premium after all risks and other parameters are taken into concern. ARLI was very clear with the same. I did my test premium on all and ALRI had the advantage of riders which was missing in two cases. The rider of critical illness and accident. ALRI was 24k/year for 1cr+ADB+CI. ICICI, Bajaj, HDFC were way two high. Almost double and cover was not even for 75 years.

   
   




4. Solvency Ratio? Am I with the right company? Another small things to look in a life insurance company is Solvency Ratio. It indicates how solvent a company is, or how prepared it is to meet unforeseen exigencies. It is the extra capital that an insurance company is required to hold to meet all the claims which arise . In other words, Solvency margin refers to the excess amount of asset the insurance company has to maintain over its liabilities. Basically, it is the amount the insurer has to stash away in order to pay the claims during emergency. IRDA requires the insurance companies to maintain a particular level of solvency margin for their smooth functioning. LIC 1.54%, HDFC 1.72%, ARLI 3.22% ICICI 3.27%

   
   




5. Some special features. With Kotak, SBI and Max but better avoid and take a simple and vanilla. All complications lead to a larger hole in your pocket.

   
   

I applied with ALRI.

The medical was done the second day at my house. Smooth. No problem. 9am sharp. All done.

No increase of premium(since I had declared everything online). However I had requested them to increase my insured amount from 1Cr+ADB+CI(paying around 22k/ month) to something wherein I would be paying around 27k/month. Promptly done to around 1.3Cr+ADB+CI. Excellent service.

There was this lady at customer service desk(Divya Uchil) who made sure that everything was smooth sailing and excellent experience.

I thank ALRI for the prompt service and would surely go ahead and recommend the same to all my associates and clients.

Hope this would help a lot of people who are confused what to do in case they are to insure themselves. Also declare if you had already insured your self of a certain amount. Since the value of your life is a function of your age and income.

Thanks.

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