The narrative for entrepreneurship that has built up over the years is one of acquisition; of wealth, market share and funding. Actually entrepreneurship is about letting go; of legacies, power and perks. Letting go takes place at a personal and professional level. Personally, being an entrepreneur means little salary and uncertain cash flows for many […]
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Not All Those Who Wander Are Lost
There was a time when entrepreneurship was considered unconventional, offbeat even. It was for the dreamers, the outliers. It was for millennials who looked at life differently, who yearned to know the world better, for whom ordinary just wasn’t enough. Perhaps the spark within these souls had been dimmed by cloistered office cubicles and protracted, […]
Insurance premiums, including top-ups, get income tax deduction
Published in Mint on Jan 05 2017, Written by Abhishek Bondia I have a 10-year unit-linked insurance plan (Ulip) with an annual premium of Rs30,000. I have received a performance bonus that I want to invest in the same Ulip as a top-up. Will I get a tax deduction benefit on this also under section 80C […]
Buy a health cover with entry level sum assured for planned checkups
Published in Mint on Dec 27 2016, Written by Abhishek Bondia The area that I live in has a few hospitals but none of them are empanelled by the Central Government Health Scheme (CGHS). I am a central government employee. Will it be better for me to buy a health insurance policy? —Renu Tandon For […]
Conflicts of interest hurt the business of insurance
Published in Mint on 6 December 2015, Written by Kapil Mehta Businesses deal with conflicts of interest routinely. Most such conflicts are harmless. The worst outcome of a pushy, incentive-driven salesperson is that like P.G. Wodehouse’s Bertie Wooster you, too, may end up with horrible purple socks never to be worn. In some cases, though, […]
Discard these insurance plans
Published in Mint on Dec 05 2016, Written by Kapil Mehta Insurances can become irrelevant because of product improvements, lower current cost, change in laws or even lack of expected change in laws. Friends often send me their insurance portfolios to review. As I browse through the dusty files there are many insurances that are […]
Some insurers can only cover overseas treatment for critical illnesses
Published in Mint on Dec 01 2016, Written by Abhishek Bondia There are different protocols to claim for treatment overseas. Some insurers require cashless payment, whereas others prefer reimbursement. Is it possible to get coverage for treatment outside India under a health insurance plan? —Kavita Lahiri Medical insurance plans issued by Indian insurers cover treatment […]
Individual life insurance is relatively more economical than joint life plans
Published in Mint on Nov 25, 2016, Written by Abhishek Bondia I want to extend my life insurance coverage to include my wife. Should I go for it or would it just be better to get another plan instead? —Atul Shandilya Yes, you should get a separate plan for your wife. There are limited options […]
Inform insurer about any installation in your car to get it covered in motor insurance
Published in Mint on Nov 17, 2016, Written by Abhishek Bondia I have a motor insurance policy. If I install a music system in my car during the policy period, will that be covered? —Ankit Moranha The music system installed in your car can be covered if you inform the insurer and pay an additional […]
Keyman insurance provides financial security to a firm during volatility
Published in Mint on Nov 10 2016, Written by Abhishek Bondia I and four of my friends have got together to start a business. We have hired 15 more employees. I have read somewhere that a company should buy ‘keyman’ insurance. Can you please explain what this it and what are its benefits for a […]