Published in Mint on Aug 16, 2016, Written by Abhishek Bondia I am 50 years old and want to buy a term plan. Kindly suggest a suitable one. —Surendra Khemka You need to consider a few variables before finalizing a plan. These include: sum assured, policy term, and optional riders. Typically, a minimum sum assured […]
Media
Standard fire policy covers a house and its contents
Published in Mint on Aug 9 2016, Written by Abhishek Bondia Can I insure the furnishings of my new house? How does it work? —Monisha Burman Yes, you can insure the furnishings of your new house under your home insurance policy. The standard fire and special perils policy covers the building as well as its […]
Joint term life policies offer limited advantages
Published in Mint on Aug 2 2016, Written by Abhishek Bondia I am getting married soon. My to-be wife plans to get a term plan after the marriage. Should I buy a combined cover then or an individual plan now? —Ravi Saxena You should buy an individual term life plan now and not wait to buy […]
Participation in the Mint SecureNow Mediclaim ratings is not optional
The product options that are rated, have increased from 162 in 2013 to 423 this year Published in Mint Mon, Aug 1, 2016, written by Kapil Mehta The Mint SecureNow Mediclaim Ratings (MSMR) take an enormous effort to be put together. Over 10,000 pieces of information bits on health insurance are collated from public sources […]
Policy terms can’t be changed during free look period
Published in Mint on JUL 19 2016, Written by Abhishek Bondia What are the important riders that can be bought with a basic term life plan? —Kunal Gupta Common riders available with a term life plan include: accidental death, permanent disability, and critical illness. Critical illness rider with a term plan is recommended. This helps […]
Why information gaps in insurance must be closed
Published in Mint on JUL 20 2016, Written by Kapil Mehta Information breathes life into our decisions. It improves industry conduct and, in insurance it reduces grossly wrong choices. At its best: information is simplified, data clutter is removed and the focus is on essential facts. Unfortunately, the insurance ecosystem—and I include hospitals in that—is still […]
A child life insurance plan is essentially an investment plan
Published in Mint on JUN 21 2016, Written by Abhishek Bondia What is the cost of a living rider in a life insurance policy? —Kanishk Mahapatra There are two types of cost of living riders. One is a benefit to account for inflation and the need to replace higher income. Several life insurance products factor […]
Portability between insurers is allowed for individual products
Published in Mint on JUN 14 2016, Written by Abhishek Bondia I want to insure the interior furnishings of my office. What kind of insurance would be suitable? The structure of the office is already insured. —Keshav Sinha You should buy a standard fire and special perils policy. This policy will cover risks such as […]
What young adults think about insurance
Published in Mint on JUN 15 2016, Written by Kapil Mehta I signed up on Quora, a social media site, about a year ago. On this site, anybody can ask a question, directed to specific people. Readers validate answers by voting. The site is frequented by engineers, entrepreneurs, students of Indian Institute of Technology (IIT; […]
Indian health plans’ sum assured may be inadequate abroad
Published in Mint on May 24 2016, Written by Abhishek Bondia I am going on a Europe tour next month with my family and my travel agent is pushing me to buy travel insurance. I have a family floater policy, which gives me and the family global coverage. Do I need to still buy the travel […]