Published in Moneycontrol. Written by Abhishek Bondia. My grandfather once told me that it was not money that added to a doctor’s wealth, but the good wishes from patients. Medicine, in his view, was to be seen as a noble profession not to be equated with a commercial enterprise. Fast forward twenty-five years, and the […]
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No waiting period for accidental injuries
Published in Mint on May 14 2017, Written by Abhishek Bondia I am presently working in Muscat and planning to move to India by July. My daughter met with an accident in Muscat and is currently undergoing treatment in India. My present company is paying the medical expenses after I submit the bills. As I […]
Medical negligence may be covered under health insurance
Published in Mint on 12th June, 2017. Written by Abhishek Bondia A friend of mine recently lost his eyesight due to medical negligence of the doctor. It made me wonder if it is possible to take an insurance policy that covers disability due to medical negligence? Are the premiums for the policy expensive? —Krishna […]
Car vandalized after being stolen will be covered under ‘own’ damage insurance
Published in Mint on May 01, 2017, Written by Abhishek Bondia Recently my car was stolen while it was parked outside the house. While the police were able to locate it about 10 km from where I stay, the car had been smashed against a tree and was badly damaged. Will this damage be covered […]
Insurers usually check for insurable interest at time of claim, not when issuing a policy
Published in Mint on 8th October,2017. Written by Abhishek Bondia. I have rented some white goods for a temporary stay in Delhi for 2 years. Is it a wise idea to get insurance for these goods, or will the renting agent do so? —Shishir Gupta To buy insurance, you must have an insurable interest. This […]
Usually, the sum assured in a term plan cannot be changed after you buy it
Published in Mint on April 23 2017, Written by Abhishek Bondia About 2 years ago, I bought a term plan for Rs1 crore, but seeing the way costs are increasing, I want to increase this to Rs2 crore. Can I enhance the same policy, or will I need to buy a new one of Rs2 […]
Sum assured increase from Rs25 lakh to Rs50 lakh will not double your insurance premium
Published in Mint on April 17 2017, Written by Abhishek Bondia Why should I consider buying a high sum assured on my family health insurance plan? Would I practically need a sum assured of more than Rs5 lakh? Most hospitalizations and medical procedures cost much less. For example, a cataract operation does not cost even […]
Health insurance for Coronavirus: Eight important queries answered
Published in Moneycontrol. Written by Abhishek Bondia The novel Coronavirus is on top of everyone’s mind now. The number of reported cases is increasing rapidly with around 10 per cent rise over previous day’s numbers becoming common. Several large countries have reported a prevalence of more than 1400 cases for every million population. It naturally […]
Most term insurance policies do not offer surrender value
Published in Mint on 26 May 2015, Written by Abhishek Bondia How should one decide the tenor of a life insurance policy? —Deepti Kumar The tenor of a life insurance policy should be based on the underlying goal. For instance, in case of a term insurance plan, the goal is to replace income flow. So, […]
Look at the claim settlement track record of insurers before choosing to buy from one
Published in Mint on April 09 2017, Written by Abhishek Bondia Some months ago, two of my office colleagues had a bereavement in their families and they filed claims for term insurance plans. From what they told me, in one case the claims process was very smooth, in the other, there were endless rounds of querying, […]