Published in Moneycontrol. Written by Abhishek Bondia The ongoing COVID-19 pandemic has increased the consumer’s consciousness about health insurance like no other event in the past. At the onset of the pandemic, individuals wondered whether their health insurance plan covered the costs of treating COVID-19. The insurance regulator was prompt to clarify that all regular […]
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Fixed-benefit plan helps cover costs that standard health policy doesn’t
Published in Livemint. Written by Abhishek Bondia I am 39 years old and have a family floater health insurance policy that covers me and my wife. Given the recent covid-19 crisis, I am thinking of buying a health insurance plan specific for this disease. I want to know what coverage should I expect and the […]
Liability risks: know them to manage them
Published in Mint on 24th August, 2017. Written by Kapil Mehta In 2012, when we had just about set-up our insurance broking business, I received an email from a Chandigarh-based exporter. “Do you know what comprehensive general liability insurance is?” he asked. His American client was insisting on this as a precondition to doing business. […]
Top FinTech Companies in India
India is currently one of the most active FinTech markets in the world. As a result, it has drawn the maximum investments in the sector, along with China. Two important missions led by the Government of India, one of Financial Inclusion and the other of a Digital India, are driving innovation. Thus, such initiatives have […]
You may include in-laws in family floater plans but not domestic helps
Published in Mint on 28th May 2017. Written by Abhishek Bondia Can I buy a family floater medical insurance policy for my wife, children, and parents as well as my in-laws? I live in Ghaziabad and as my wife is an only child, I share the responsibility of her parents as well. Also, for the […]
How health insurance claims get paid
Published in Economic Times. Written by Davinder Singh. There are two types of health insurance covers: indemnity and defined benefit plans. In an indemnity plan, you can claim reimbursement of actual expenses incurred up to the amount insured for specified illnesses as per the terms and conditions of the policy. In a defined benefit insurance […]
Nominees can file life insurance claims even if beneficiaries of the policy are no more
Published in Mint on May 21, 2017, Written by Abhishek Bondia. My brother had bought a term plan on his life for Rs1 crore (more than 4 years ago). He had a wife and 2 children who were the beneficiaries. Both children were below 7 years of age. As his children were very young, I […]
What consumers can learn from penalties on insurers
Published in Mint on 3rd December,2014, Written by Kapil Mehta Last week, a columnist for this paper wrote about “One tight slap”. Her contention was that no provocation could justify slapping a child. I couldn’t help chuckle when I read the phrase. While most of us are peace loving folks, there are situations when we […]
Indemnity principle doesn’t apply to life insurance since loss is not quantifiable
Published in Livemint. Written by Abhishek Bondia I have two term policies with sums assured of ₹20 lakh and of ₹30 lakh. They are from two different insurers. I also have a money-back policy of ₹10 lakh. If a claim was to be made, would all three policies be enforceable? —Manish Jalan Yes, they will […]
Perceptions of insurance are improving
Published in Mint on 17th May, 2017. Written by Kapil Mehta A few weeks ago, the Insurance Regulatory and Development Authority of India (Irdai) released market research on the insurance industry. The study, conducted by the National Council of Applied Economic Research (NCAER), covered 30,200 households across the country. Considerable thought has gone into making […]