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why this term policy is so cheap?

I want to buy life insurance term policy. did a survey and found that aegonreligare term policy is very cheap for Rs. 5000000 compared to other insurers. What is the reason? Which term policy I should buy? Which company offers best term policy in India? Is it ok to go for a cheapest term policy as exclusions and other conditions are same for pure term policy.

Public Comments

1. term policies are cheaper because there is not return on the premiums paid, unless and until the happening of death or accident, when compared to other traditional life insurance products, ensure that you are taking riders also , but for that you will have to pay extra premium also
2. term insurance is the purest form of insurance where claim is paid only in case of death. Nothing is payable if you survive the policy term. LIC has the best claim settlement ratio in the industry. Claim settlement is most important in life insurance, term in particular. Be with the best, buy LIC.
3. A term policy is life coverage only. On the death of the insured it pays the face amount of the policy to the named beneficiary. You can buy term for periods of one year to 30 years. A term life insurance is different from whole life insurance policy. Almost all the term policy is same but based on their success stories they rank and I would recommend you to go for cheap at the same time best. http://www.itrust.in/life-insurance/popularsearch.action/tenLakh-Cover-Annual-Premium
4. Their online policy is the cheapest. It is because there is no agent involved . So no commission to be paid. Usually it is paid from the premium. Policies which involve agents is costlier. JUST GO FOR IT.
5. Term Insurance is a Traditional Plan, and LI Agents get approx 40% of your premium as commission, Aegon Religare iterm is the best option, coz it is available online so no agent is involved and company give this benefit to its customer. so it is the best option to buy.