You might have to get
additional coverage and
pay an
additional premium for specialized liability policies, but when you think about the considerable risk involved
by not having such protection in place, it is
well worth the price.
1) Kotak with claim settlement ratio of 92 % and
good solvency ratio and
premium of rs. 11736 Kotak has a consistent claim settlement ratio of above 90 % for 3 consecutive years 2) PNB metlife with similar claim settlement ratio of Kotak and same
premium of rs. 11781 PNB is a big nationalised bank and Metlife is one of the largest insurance companies in the world 3) Aegon life with claim settlement ratio of 89 % and
premium of rs. 11172 Aegon is in partnership with bennett coleman company which is a times group company Aegon doesn't have a very
good claim settlement ratio in the past but
by paying an
additional premium of 500rs you can get a waiver of future
premiums on discovery of critical illness.
\ nA renewable policy allows the policyowner to renew the coverage simply
by paying additional premiums before the termination date without having to provide evidence of insurability (i.e. proving
good health) Note: most insurance providers limit the number of times you can renew such a policy or set an age limit for renewals so make sure to
pay attention to this when shopping for term life insurance if you plan on renewing your policy for some time.