POSTED BY sunil ON June 18, 2012 5:46 pm COMMENTS (8)

Hello All,

Lately (rather early when compared to many) i wanted to go for Term Insurance… and when i wnated to do it online i have various options one of them is Aeon Religare Life Insurance being given without any medical tests done.
They just ask u one question have u smoked in last five years (i hardly smoked more than 10 cigarettes…) but they give u an option saying per day how many..

My question is, is it good to go with such online Term Insurances without medical tests done???

or which is the best one from which i can take a term insurance.

I am planning to take an insurance of 60 lacs…..

8 replies on this article “WHICH IS BEST FOR TERM INSURANCE”

  1. Vishal Nagpal says:

    Hi Sunil,
    Can you let me know why are you looking out for plans from two different providers? I would rather recommend you to opt from a single provider. Answer to your second question would be that, online life insurance is cheaper and much more convenient. In terms of the best provider, I would suggest you Bharti-Axa since their claim settlement process are quick. Claims settlement is normally quick if you provide them with all the documents which are required. http://www.bharti-axalife.com/

  2. sunil says:

    Thanks Ashal…
    I admire the quick responses you guys give…
    Thanks once again for solving my query….

    Good Night.

  3. sunil says:

    Thanks Ashal…

    As i have compared i cornered AXA and AVIVA of the private players…

    I wanted to opt for 75 lacs Insurance from LIC (35-40 lacs) and rest from either AXA or Aviva
    whats ur suggestion?

    Any suggesstion on the best claim ratio (apart from LIC)

    1. Dear Sunil, If you are not comfortable with Claim settlement ratio of pvt. insurer, My take opt 5L Rs. term cover under Anmol Jeevan-1 from LIC & rest 70-75L cover from the choice of your insurer. As & when there is a claim, your family should file first with LIC & then with others.

      Hope it solves your query.



  4. Dear Sunil, In my opinion please opt a higher cover say 1C from the insurer of your choice. Except IPru’s I-care, all other online policies demand compulsory medical test for SA above 50L Rs.

    For your smoking habit, Once a smoker is always a smoker in terms of pricing of the policy.

    Now a days, many insurers are offering offline versions of online plans where the prem. is very competitive than normal offline policies. In most cases such offline versions are merely few hundred Rs. costly.



  5. sunil says:

    Thanks Anand and Banyan….

    What can be the premium difereence between online and offline policies???
    And why should we go for an online insurance when u have all these doubts?? and remember its not the person who knows all these things present during claim….

  6. BanyanFA says:

    Online policies though the cheapest, may be the most riskiest – in terms of not being given the opportunity to provide all details which an under writer will need to provide a quote. I tend to be most uncomfortable whereby when the time shall come for the claim, the dependents would have to fight to get their right !

    What I am not sure about is if the online covers give an option to give a call and discuss the policy details / disclosures more in detail ?

  7. Anand says:

    Aviva India is the best one.

    Now we will see in how many days you will apply for the policy.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.