<td >
Fees: <apex:outputtext value="{! If(abInsurance !=null,'Rs. {!abInsurance.charges__c}',If(xyInsurance!=null,'Rs. {!xyInsurance.charges__c}','None')) }"/>
</td>
Only one of the Insurance can have value at a time.
I cannot check the VF page, but is the above code correct for retrieving the dynamic value for field 'charges_c'?