AEGON Life

After doing a lot of research, I decided to choose religare iTerm plan mainly for two reasons - 1. coverage till age of 75 and 2. Low premium.Read a few reviews on this site and was a bit concerned before purchasing, however I must say that I had an excellent experience going through the whole process.

I purchased it on 15th Feb and next day got a confirmation call informing me that my medicals will be done after 3days again received the confirmation call from their medical team and fixed the appointment, the guy was very punctual and he reached my home bang on time and collected the samples and on 24th Feb I received the policy document at my home.

I was already informed that I will be issued my policy in these many days through email and phone calls and they issued me within those dates itself which is good. Another positive part is that they shared the medical report with me along with the policy (which some other term insurance providers don't share).Another important thing I must tell you is that my family medical history is not good and I shared the correct details with them still the premium was NOT hiked and I paid them only what was quoted to me.I will definitely recommend this plan to all my friends.

Thanks!!

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I opted for Aegon Religare term insurance plan due to low premium and simple net premium payment procdure after lot of comparison. After medical tests, I got email saying 40% premium increased due to asthma (means though I did not have asthma, my prescription and previous medical report of allergy bronchitis, the underwriting team proved that it is asthama, but later I Had to Bring a certificate to prove I did not have asthama ).

I thought it is marketing gimmick of Aegon to attract customers first and then increase the premium. After going through Mouthshut review, many customers suggested for asking for medical report and retest with known medical lab. I requested my medical examiner to do same and I shared the certificate of  the medical results and they agreed without any hesitation. Within few days, Poilicy is issued without any increase in premium. Though no apologies or call received for this trouble from agency, I am happy with plan and co-operation provided inspite of delay

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The Aegon religare I maximize plan has been suggested as an insurance cum investment plan by policybazaar.com. The executive suggested me to buy this plan before 15th Feb 2013 as she told me that if you buy this policy later then 30% of maturity benefit  will be tax deducted at source under section 10(10D). She informed me that if you buy any policy from any insurance company in future, 30% of maturity benefit  will be tax deducted at source under section 10 (10D) based on your income tax slab.

The executive suggested me that I have to pay a yearly premium of Rs 24000( no half yearly, no monthly premium payment option allowed) and sum assured is Rs. 7.5 lakhs. Minimum bare amount on the paper will be mentioned as 8.9 lacs and maximum amount will be around 14 to 15 lakhs.

There is no guaranteed maturity benefit under this policy.

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I had purchased an online term policy (Aegon Religare Iterm Plan 513014016724) from the above company a few days ago.

I had mentioned at the time of paying premium itself , that I hold an active policy from another company.

After having made me go through medical tests and after complying with endless requests for id proof,

suddenly the company woke up to the fact that I am not eligible for the cover as I have an active policy from another company.

This is the business making practice of this company.

Customers can decide whether they want to purchase from this company.

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I have filled online proposal form (AEGON Religare Iterm Plan 513014004489 )and paid the premium but before going for any medical test, I decided not to go for Aegon looking at IRDA data of there poor claim ratio. Now I have continuously following up with their customer care to get my refund but no body is responding. I know how to deal with such persons but I want everybody else over here to be aware of these frauds. I feel very happy that I have finally not chosen this company.

I can see  their no response to my refund request which prove the kind of service this company can provide if chosen by mistake. I was having plan to buy multiple term plans for my family members but now Aegon will be not be a choice anymore, not now and not in future.

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I opted for Aegon Religare term insurance plan due to low premium and simple net premium payment procedure after lot of comparison. After medical tests, I got email saying 50% premium increased due to high cotinine level(means though I am non smoker, medical tests said I am smoking).

I thought it is marketing gimmick of Aegon to attract customers first and then increase the premium. After going through Mouthshut review, many customers suggested for asking for medical report and retest with known medical lab. I requested for the same and Aegon shared the medical results and agreed for retest without any hesitation. Within few days, Policy is issued without any increase in premium.

Though no apologies or call received for this trouble from agency.

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I was looking for Term Insurance for self. After doing some R&D I selected Aegon Religare iTerm plan. I purchased the policy online without any hassle. I was given each and every detail about the policy by Amish Bakshi. I paid the premium on 15th Jan and on 18th Jan my medicals were done. On 30th of Jan I received my e policy documents. Overall it was a good experience for me.

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I applied for i-term vide proposal number 513013935431on Jan 9, 2013. After continuous follow-up over 3 weeks, I was finally given a REVISED OFFER with almost 50 % hike in premium. When I tried to contact the dealing official at mumbai over the phone, no one responded to the phone call.

First of all, they took 3 weeks to come up with an offer and once they did, they deliberately have hiked the premium. NO test reports have been sent along the revised offer that can justify the added premium cost.

I guess they just show low premium offers online just to lure customers only to be later victimized by presenting a counter offer almost 50 % exceeding the initial offer. What a shame !

I am pretty sure my personal physician can scrutinize the test reports based on which they have demanded the additional premium but they never shared the test reports.

Such companies must be taken to consumer court for wasting consumer's time and money + causing agony.

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It is very disappointing and frustrating that even though after completing all the formalities on 16th Jan 2013, I have not received the hard copy of my policy document. Even some of the information in the medical report was intentionally written false which they have corrected after so many follow up?

If I would have missed out then anyone can understand how easily this company would get escaped later (Claim submitting)? I request each of you to go through your medical reports to find out any likage. I do not understand why people are not taking this matter seriously.

In spite writing so many emails to the customer care department no action has been taken by them. Every time they come with false excuse that they have dispatched the policy but since delivery boy did find the address he returned back. My questions are

1) If that delivery boy has come to that locality why did not he gave me the call ? I have also provided by secondary number.

2) What is the proof that he really came to that locality ?

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I was planning to buy a term plan for myself. I am only 25 and working in a general insurance company. I was searching on the net and filled a form on policy bazar. I got a call from policy bazar and the guy told me about all the plans available. I was attracted by aegon religare plan bcoz they were providing the cover up to the age of 75. I was surprised to see this as no other company is giving term plan insurance beyond 70 years of age.

Although I was concerned over the claim settlement ratio of Aegon Religare but the guy convinced me giving reasons that the company is new in the industry and as a result they are very cautious in the starting years. Majority of the claims in the starting years may be a result of misrepresentation at the customer's end. As I have already told that I am working in general insurance company, I am aware of the regulatory authority, IRDA. The claim settlement of other private players were also bad in the start but it improved after 5-6 years.

I was finally convinced and opted for 75 lacs cover with a critical illness cover (premium will be waived if I get critical illness like cancer, heart attack etc). The difference in the premium was only Rs. 200 for taking this rider. I made my payment of Rs. 6408 on 26th December and submitted my scanned documents on 28th of December. I had opted for medical on 29th Dec. I got a mail from their side and they confirmed that I will have medical at my home on 29th morning.

A guy came to my home on 29th and it took almost 30 minutes in that process. I received a mail today i.e on 6th Jan stating that I scored well on all the parameters and they have rated me a preferred customer. They have also reduced the premium from Rs. 6408 to Rs. 5715 per annum. The amount will be refunded in 10 working days. It was also mentioned in the mail that my policy along with my medical report will reach to my address in 2-3 days.

Overall I am very satisfied with my decision to choose aegon religare. I have also adviced my 3-4 friends to take term plan from aegon religare.

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I read all the reviews and must accept that it was on negative side. But then I realize that people write only negative review(to vent out) , seldom anyone would write a positive review....so I promised to myself that I would write my experience whether +ve or -ve !!

I went ahead with policy as I found it to meet my present requirements. I purchased policy no :5121238906?19 on 28th Dec 2012 and blood test was done on 2nd jan 2013. I am a sports person -so not expecting anything surprising there.

I am in touch with Beulah Iyer and she seems to be confused sometimes as I sent her document and she asked me the same in 3 subsequent mails. Her office timing are 9-6 as per mail signature and she replies only at 6pm !!

Today, as on 3rd Jan 2013, she has promised me the policy within 3 days so keeping my finger crossed - let us hope for the best.

HAPPY ...I kept the promise I made to myself !!

PLease come here to check ...i will update the my final experience here.

7/1/2013- got call from Beulah Iyer that policy is approved and I wil get all the document in 3 days.fair enough !!

...

Suresh

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AR iTERM POLICY ONLY BECOZ OF LOW PREMIUM & MAXIMUM AGE.

AS CUSTOMER CARE PEOPLE SAYS ALL FORMS OF DEATH COVERED (EXCEPT SUICIDE FOR 1ST YEAR) BUT ALL FORMS OF DEATH COVERED IS NOT MENTIONED ON PAPER (OFFICIALLY).

FOR eg. WHAT IF DRUNK & DRIVING VEHICLE? (AS DRUNK & DRIVING IS A CRIME AS PER INDIAN PENAL CODE)

I STILL DOSE NOT UNDERSTAND HOW IT IS POSSIBLE TO OFFER SUCH LOW PREMIUMS?

THEIR ANSWER TO THIS

1)NO AGENT COMISIONS

2)NO OFFICE & INFRASTRUCTURE

3)YOU PURCHASE FROM DIRECT AEGON RELIGAREstrong text

BUT CAN ANY ONE GIVE MY SIMPLE QUESTIONS ANSWERS, PRACTICALLY?

1) IF AEGON RELIGARE IS PRIVATE COMPANY DOING BUSINESS IN INDIA HOW THIS BUSINESS IS PROFITABLE TO THEM AT SUCH LOW PREMIUMS?

2) AS PER THEIR WEBSITE UPTO NOW 46777 CUSTOMERS ARE THERE (ANY ONE KNOWS HOW MANY POLICY HOLDER DISCONTINUED THE POLICY?)

3) AS PER THEIR WEBSITE 8 CLAIMS ARE RECEIVED 7 ACCEPTED & 1 REJECTED BUT IF THE CLAIM AMOUNT IS MORE THAN PREMIUM PAID BY CUSTOMER THEN COMPANY IS IN LOSS, SO, FOR HOW MANY YEARS THEY CAN BEAR LOSS?

4) FROM WHERE THEY WILL PROVIDE CLAIMS IF COMPANY IS IN LOSS?

PLEASE ANSWER TO ABOVE QUESTIONS ONLY IF YOU HAVE ANY OFFICIAL VALID PROOFS

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I am a healthy Male aged 25, Non Smoker & Non-alcoholic without any previous medical history (or) Pre-existing illness. As my family runs mainly on my Income, I finally decided to have a Protection plan for me to safeguard my family future in case of any unforeseen happens to me.

I have searched through lots of Insurance company websites (Including LIC/Aviva/Bharathi AXA/HDFC/ICICI/Bajaj/ Aegon) to have the Right Term insurance plan which gives Longest Insurance term & Competitive pricing with option of additional riders. Finally (08/12/2012) I have narrowed down to Aegon Religare which gave competitive pricing including additional riders and Longest terms which would be valid until my age of 75(my current age 25, so its 50 term).

The closest Insurer which came equivalent to Aegon Religare is Bharathi AXA & Aviva, But I did not had optional riders & unable to take a insurance until the maturity age of 75, max it allowed me for 40 terms only.

Here is my Buying Experience of I-term Plan with Aegon Religare:

The Aegon Religare Website is well maintained. Easy accessible with sufficient information with the easiest quote calculator.

The Email correspondence on getting the quote and accessing the information based on the quote number & my DOB is very good. I am able to continue with the place where I have left in the website(Good feature)

Filling up the Online Proposal form been easier & not confusing.

The online payment feature is very reliable and did not face any issue

I got proper Email correspondence for :Getting the quote, On Filling the Proposal form, Medical Schedule confirmation etc...

Customer Care team responded to my Email queries on time with necessary details within a day, Keep it up team.The Medical test been conducted on time as per selected appointment

Got my I-term protection plan policy issue acceptance confirmation within 3 days after the medical test. In Short: This is my First Protection plan experience. AEGON Religare team, made my first protection policy experience pleasant & hassle free.

Here is what happened with Date :

on 08/12/2012 (Saturday) Paid I-term (Saturday Night) & Received confirmation mail on same day

on 10/12/2012 (Monday) Received call from Executive and got confirmation mail on receipt of documents and medical appointment confirmation.

On 11/12/2012 (Tuesday) Person from Medical Testing center contacted me via phone and reconfirmed the appointment

On 12/12/2012 (Wednesday) Medical Test been conducted in my home as scheduled

On 14/12/2012 (Friday) Got confirmation Email from Aegon Religare team, Confirming that my I-Term protection policy has been accepted & Soft copy will be delivered within 5 days and hard policy will be dispatched within 10 days.

On 15/12/2012 (Saturday) I received Soft Copy of Policy document to my Email

My Suggestion to Aegon Religare Team

1.Must to have 24/7 Support instead of Mon-Sat support with specific timing

My Suggestion to Future customers

Please provide Genuine information while filling up the proposal form(especially you medical history). If not it may lead to ending up in paying additional premium (or) rejecting your proposal.

Regards,

seaswaran

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My experiences with "Aegon Religare Life Insurance" gone really well. I've applied for AEGON Religare Iterm Plan (512113640955) and was satisfied with their quick responses.

My medical test gone well and the policy was also delivered on time without any change/ modification in premium. Even my request for change of medical dates and place was expedited well. I'm totally impressed so far.

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I had submitted a claim application with supporting documents. From the outset it became clear that they had no intentions to honour the claim as they kept hassling me through 5 different agencies working on their behalf for duplicate of the same documents that I submitted and many irrelevant documents/ certificates as if the doctors, Staff and I had no other chores other than oblige them!

The hospital where I was treated, which is part of their network, remarked that their TPA Paramount was the most difficult of all TPAs since they get incentives for each rejected claim. That is to say that they spend more on paying their agencies and lawyers to reject claims and defend themselves than pay the beneficiary on whose premiums they run their business! Interestingly one of Religare’s Staff admitted that they do hassle the claimant until they backout on their own. So readers beware and choose your Insurance Company wisely.

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Iam 28 years old and working as an engineer in merchant navy.One month before I took this Aegon Religare I Term policy(online). Before taking this policy their  team used to call me up every day stating the benefits of their policy. Being a mariner before taking the policy, I had discussions with their team and asked whether pirate attacks( which are very common now a days) are included in their policy or not. To that their reply was all those are covered in this policy.

On receiving their policy document, I was shocked to see that death due to invasion of foreign nationals, inhalation of toxic fumes etc are not covered under their plan. I drafted a mail to their customer service stating this and till date I had not got any satisfactory reply from their end. All I got was " The terms and conditions of the policy remains unchanged". To this I had drafted a detailed mail stating my job profile and the conversation that I had with their executives before taking the policy. To this their reply was " your query has been sent to our team and will get back in 5 days time". Till date I had not got any reply from their end.

As of my experience their team will respond you till the time you take their policy and after that they are not even bothered. Now I had enough with their services, and would be thankful if they could tell me the procedures for getting the amount back. If this is the service which they are providing now, how could you expect to redeem the claim from them after many years.

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I was looking for a term policy with the maximum coverage (age wise) and lowest premium. After doing some market research I zeroed in on Aegon Religare i-Term as they were giving coverage till 75 years and were offering the best premium. Though the claim settlement ratio is on the lower side, but they entered the insurance field in July 2008 and all their claims fell into the "early stage" category, which require thorough scrutiny. And I am hopeful that the claim ratio will certainly improve with time. Also, I believe, if you disclose everything honestly (family history, medical conditions and previous policies) while taking the insurance policy then there is no way an insurance company can reject your claim.

I honestly declared my family medical history and previous insurance history while filling the online form and uploaded all the supporting documents online (you can also email them) on Nov 4. A medical test was arranged at my home on Nov. 10 by Customer Relations Executive Guruprit Marwaha, who was in touch with me through out the process and was really helpful.

On Nov. 12, the policy was issued to me, with no changes in the premium. Also the hard copy was sent to my home address within 2 days and it included all the medical test details. The entire process was transparent, quick and easy.

I would definitely recommend this policy to others who are looking for a term plan.

Regards,

Anand Basu

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As a marketing tool Aegon is offering as lowest premium and maximum life coverage. However fact remain same that after medical test they tend to increase premium on the basis of age, coverage, insurance amount and family health history in spite of  health test result.

Performance- Claim settlement.

Actual performance of company can be assessed after appx 10 years. Moreover company should disclosed claim settlement ration against each type of policy. Presently the claim ratio is shown for all type of policies.

Maximum Age- 75 years, low premium (with conditions only)-

Practically one required insurance coverage for their dependents and up to age of 65 your dependent shall be interdependent.  Please also note that average life expectancy in India is 67.14 years. please refer the link (https://indexmundi.com/india/demographics_profile.html). Hence if any company offering coverage up to 75 years will have a lot of excuses for rejecting the claim.

Unfortunately that time you will not be available to seek clarifications.

HDFC SL and ICICI PRU are better name because of same. I had dropped idea to go with Aegon and selected HDFC SL due to transparency. You never know after your death how the claim shall be settled. Hence it is always better to go with trusted names.

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I bought the Aegon Religare online i-Term policy last week. Guess what, I didn't break a sweat through the entire process. (Well, not literally, 10ml of blood for the medical test.. :P ). I'll just narrate my experience of purchasing the policy.

I got on the website, filled in the personal details, self and family medical history as honest as possible and paid the premium. Next day, I got a mail from the Customer relationship manager requesting the necessary documents (ID proof, age proof, address proof etc) and she had also mentioned that she would be assisting me through the entire process. This wasn't an automated mail and that itself was pleasantly surprising. I sent her the necessary documents after scanning them. I then got a mail from another Sales representative requesting the confirmation of date and time of the medical tests(that I had specified while applying).

FYI, Aegon necessitates medical tests for all policies for Rs. 50 Lakhs or above. My medicals were done and within 2 days, I got an email saying my policy was approved. It was mentioned in the mail that I would receive the hard copy of the policy document in a few days. But, the same afternoon, I got the hard copy. All the details were present as I had entered them. The policy document also had the copies of the all medical test reports like blood sugar levels, complete blood count, lipid profile, nicotine tests etc. I like this part because it shows that they follow a transparent process.

The Aegon religare website was so easy to navigate through and the same policy details on the website were mentioned verbatim in the policy document as well. One more important thing is that, Aegon Religare arranges the medical tests to be taken at your home. Reading users' horrid experiences of buying other online policies, I found Aegon Religare's process uncluttered and eons better. So, thus far my experience with Aegon was really pleasant and I hope you find this review useful.

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It's totally fake some companies are trying to going down bcoz they are not having attractive offer aegon religare is the best company he has received only 7 claim in term insurance. Whenever you go there for claim settlement ratio, it's overall claim settlement ratio not for term insurance each companies is working under irda regulation section 45 c.

I am not any commisining agent.

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