This is the one and only question that should be uppermost in your minds when you buy an insurance product. Does not matter whether it is life insurance, health insurance or auto insurance.
Let us deal with each one of them.
Take life insurance. When I checked the premium for a 28 year old wanting a policy, he found Religare the cheapest. He found that the price difference between Religare and Aviva was not much, but Hdfc life insurance was about 30% more expensive.
So obviously all of you who have been looking for a term plan would have gone through this, right?
So the uppermost question in your mind is : “Will Religare, or Aviva pay the death claim or should I buy from Hdfc, Icici, or LiC?, correct?
Well, my take is as follows:
I am sure that if you fill up the form accurately, without a lie, and there is nothing that new comes up in your medical check up, you have a good policy. In fact if at the medical test if your policy gets ‘rated up’ it is even better – your nominee can always argue that it was not a routine acceptance.
Also what is to stop the CEO of Religare becoming the Ceo of Hdfc and vice-versa?
To say who will pay the claim and who will not – after say 14 years – is a stupid game where nobody knows the answer.
So buy from the cheapest, and rest in peace, buy TERM from the cheapest player, BUT BE TRUTHFUL ABOUT your health, parents health, smoking, etc…
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