Comments on: Buy term insurance online

By: Anand

Anand — Tue, 09 Oct 2012 08:54:29 +0000

Thanks to constant advice from subra, I took term insurance online from Aviva india. The premium was not increased since I was found to be healthy.

By: Jayant

Jayant — Tue, 09 Oct 2012 07:30:38 +0000

I took 1 term plan from LIC via agent and 1 from Aegon Religare online. LIC charged 3.5 times more than Aegon for same sum assured. Experience with LIC was very similar to what one would expect from large PSU behemoth. Experience from Aegon was pleasant. Day 1 they called me, day 2 they created entire plan right from payment to medical examination to policy issuing and followed the plan to the point. Not even 1 day’s delay. To top it, they refunded some part of my premium saying your premium is reduced because of your healthy life style and great medical report.
Of course, claim settlement report of Religare is far less than LIC simply because they are new in the business.
This is just my experience which I thought of sharing. I am not trying to advertize one company over other.

By: Dr M Chandrashekhar

Dr M Chandrashekhar — Tue, 09 Oct 2012 03:35:18 +0000

Makes good sense buying Term Insurance online– quite hassle free.

By: RJ

RJ — Mon, 08 Oct 2012 20:34:39 +0000

Hi Subra, it is for these very fears that I chose to go with LIC but I’m dumping it now (after 1 yr) and will go for online. Any recommendations?
Also, does your site have any post which clearly explains – (a) How much you should insure against in TP ideally? If there is some math behind it. & (b) Should you take multiple TP’s as you move ahead in life or just one TP is sufficient whenever you decide initially.

Thanks.

By: Jagbir

Jagbir — Mon, 08 Oct 2012 12:14:37 +0000

That’s so true, agents are doing their best to retain their relevance. I got call from LIC offering some product. Just for passing time, I told them I will buy but don’t have money for premium. They offered me to pay premium after a month upon which I told I can pay only after a year. Initially they surprised but later assured me to check and get back if any such arrangement can be done. Of course, no phone after that but its amazing how much energy they are devoting to extract every possible penny. Anyway, Buying online now a days is so smooth, you’d not feel you need any kind of assistance. Recently I bought one online term policy and entire process gets completed in 15 days without any hiccups.