I applied for an Aegon iterm plan for a substantial amount of cover. I went with aegon after a lot of reserach & talking several times to aegon sales staff & also with the aegon manager Mr. saurav shah who has given his review in this review section itself.
Finally I took the plunge & applied for it last month. Paid upfront the premium & after that I was asked for medical history etc. as I have asthma. I provided everything. After all questionnaire etc. I got a counteroffer in which the premium for only core term plan is hiked to almost 200% & all riders i.e. accidental death benefit & CI premium waiver are removed.
I sent quiet a few mails asking them to explain on what basis this hike has been achieved; on which till now nothing has happened. Its been 3rd day after I received their counteroffer & which I have still not accepted as none bothers to clarify & when I call them up they refuse to transfer call to relavant people - aarthi.(lady who sent me mails).
Anyways I am disappointed by this whole process & I donot understand how they are weighing the premiums or at all on what basis they arrive at these premiums.
I knew I will get a counteroffer as I have asthma & I was expecting a max hike of say 60% but never thought 200% & that too for non smoker.
Really not understandable.
My advice to all - apply to multiple insurers like met protect/icici/hdfc etc. & choose the best who offers lowest premium rather than aegon which lures on low premiums upfront & then just issues counteroffer for unreasonable hike in premiums without explanations.