Published in Mint on 4 November 2015, Written by Kapil Mehta One would expect that with all the competition in insurance, insurers would queue up to sell to you. Unfortunately, that’s not true. The hardest part of buying health insurance is getting the insurer to issue you a policy. Most insurers are risk-averse and would […]
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Are you a good insurance customer?
Published in Mint on Nov 03 2016, Written by Kapil Mehta Buying insurance is an intense process. You share intimate details on your health and income, subjecting yourself to scrutiny from insurers. When things go wrong in this process, the instinctive reaction is to blame the insurer or the salesperson. But customers are also at […]
Number of diseases covered by a critical illness rider vary across plans
Published in Mint on Oct 27 2016, Written by Abhishek Bondia What is a critical illness rider in a term insurance plan? When is the payment made if one has a critical illness rider with a life insurance policy? What is accelerated rider? —Kaushal Jadhav A critical illness rider provides a lump sum to the […]
Buy a separate mediclaim plan for senior citizen in the family
Published in Mint on Oct 20 2016, Written by Abhishek Bondia I wanted to buy a Rs10 lakh sum assured family health cover from a private insurer for myself, my wife and our 1-year-old son. But my father, who is about to retire next month, got to know that the Central Government Health Scheme (CGHS) […]
The need to build deeper insurance distribution landscape
Published in Mint on 14 October 2015, Written by Kapil Mehta Last weekend, I was in Varanasi for a short break. Sailing down the Ganges by the ghats we were transported into a different world. The cycle of birth, life and death were vividly portrayed in a half-hour boat ride. I find it hard, however, […]
Borrower’s insurance is not mandatory. IRDAI does not require you to buy any insurance for loan purposes
Published in Mint on Sep 06 2016, Written by Abhishek Bondia What is covered in borrower’s insurance? I have read that it should cover accidents, critical illness, death and loss of job.What are the Insurance Regulatory and Development Authority of India (IRDAI) norms for this? If a bank grants home loan to a salaried person, […]
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 […]
At higher ages, one should opt for high sum assured amounts
Published in Mint on Sep 06 2016, Written by Abhishek Bondia I am 50 years old. I want to buy a suitable mediclaim policy. Please advise. —Surendra Khemka You could refer to the Mint SecureNow Mediclaim Ratings (www.livemint.com/mediratings) for a suitable plan as per your age. The rating is a comprehensive evaluation that considers factors […]
Old term insurance plans can be revived by paying unpaid premiums
Published in Mint on Aug 30 2016, Written by Abhishek Bondia What is a life annuity cover? Is it a good option for a life insurance plan? —Rajbir Singh In a life annuity plan, annuity payments continue till the death of the person covered, irrespective of age. There are several forms of annuities available. In […]
You can challenge the rejection of a health insurance claim
Published in Mint on Aug 23 2016, Written by Abhishek Bondia Reports from the pre-issuance medical test and doctors’ consultation are expected to identify pre-existing ailments My mother, 52, has been diabetic for the past 5-6 years. She has a family floater health insurance and I am the sponsor. Her condition was declared at the […]