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. Let’s explore how deductibles work in different insurance plans. It’s important 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 […]
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 […]
Which Type of Domiciliary Treatments are Not Covered By the Health Insurance Plans?
Domiciliary hospitalization means treatment which is taken place at home and lasts for more than three days which in the normal course would require treatment at a hospital or nursing home. The insurer would allow domiciliary treatment only if- The condition of the patient is such that he/she can’t be taken to the hospital or […]
Why Should You Buy Critical Illness Cover Even after Buying Term & Health Insurance?
The most popular insurance policies amongst the masses in India are term and health insurance coverage. There is no doubt that these are two of the most significant policies which are on the bucket list of many when they are asked about insurance. However, times have changed, and we are at a greater risk of […]
What is QROPS under Jeevan Shanti Policy?
What is QROPS under Jeevan Shanti Policy? LIC’s Jeevan Shanti policy is a traditional pension plan which offers policyholders two options of receiving pensions. The policy can be bought as an immediate annuity plan wherein the annuitant can choose to receive annuity pay-outs immediately after buying the plan. Alternatively, the policy can also be bought […]