If you are reading about loan insurance, then in all likelihood, you must have a fair idea about what a loan is. A loan is money that you borrow from a lender, typically a banking institution or any other financial institution. There is a condition to pay back a stipulated amount on a monthly basis; […]
Individual Insurance






What is deductible in Insurance and how does it work?
It is likely that when browsing for insurance, you have stumbled upon the term ‘deductible’. What is a deductible and what are its implications if applied to your insurance policy? If these are questions you would like answered, this post is for you. What is a deductible? Deductible refers to a fixed amount applied to […]
Why your domestic help must have insurance
Published in Mint on Sep 07 2016, Written by Kapil Mehta The building, in Delhi, where I stay has 11 residents with 15 supporting domestic staff consisting of full-time maids, drivers and security guards. Since there are about 400 homes in my locality this means our small colony alone has over 5,000 domestic staff. They […]
Policy terms can’t be changed during free look period
Published in Mint on JUL 19 2016, Written by Abhishek Bondia What are the important riders that can be bought with a basic term life plan? —Kunal Gupta Common riders available with a term life plan include: accidental death, permanent disability, and critical illness. Critical illness rider with a term plan is recommended. This helps […]
Portability between insurers is allowed for individual products
Published in Mint on JUN 14 2016, Written by Abhishek Bondia I want to insure the interior furnishings of my office. What kind of insurance would be suitable? The structure of the office is already insured. —Keshav Sinha You should buy a standard fire and special perils policy. This policy will cover risks such as […]
Deductible and its application are key to top-up health plans
Published in Mint on Apr 26 2016, Written by Abhishek Bondia My family and parents are covered by a general insurance policy by my employer. I want to buy a top-up health insurance plan. Shall I take it from the same insurer as my employer’s? Explain what top-up plans are. —Avijit Acharya Top-up plans are […]
Buy online term plans if you don’t need advise
Published in Mint on, Feb 05 2013, Written by Kapil Mehta I have heard that commissions for unit-linked insurance plans (Ulips) are high and that is why many agents are trying to push them on people. Should I buy a Ulip to save tax since it will also give me equity exposure? —Divya Commissions on […]
All-risk insurance is not available only for short periods
Published in Mint on 2nd Sept 2014, Written by Abhishek Bondia I will be going abroad for a few weeks. Is there an insurance policy that I can take to insure my laptop, e-book reader and music player? —Kriti Singh Portable electronic equipment can be insured under a comprehensive all-risk insurance policy. Such policies cover […]
Personal accident policy gives 24-hour worldwide coverage
Published in Mint on 10 November, 2015, Written by Abhishek Bondia Why is travel insurance needed and what all does it cover? What is the minimum period for a trip to be insured? —Raksha Shourie A travel insurance provides for temporary coverage for risks when you travel overseas or domestically, including hospitalisation expenses, accidental death […]
What happens when you cancel a senior citizen health policy midway through the policy year?
If you have a senior citizen health insurance policy, it is feasible to cancel the policy midway through the policy year. Here it is important to note that a health insurance company can also cancel the insurance policy by sending 30 days’ notice at the insured’s last registered address. In such a case, the insurer […]