Published in Mint on, Apr 02 2013, Written by Kapil Mehta I am 30 years old and want to buying a Rs.3 crore term cover. I found out that premiums of various companies vary considerably—from Rs.24,000 to close to Rs.1 lakh per year. Can you suggest a term cover with low premiums and where settlement […]
Media
Home loan insurance is more important than home insurance
Published in Mint on, Mar 26 2013, Written by Kapil Mehta The insurance company paid only the small cost of replacing the point of impact part of my car which was caused due to an accident. All other costs such as oil and internal parts damaged were not paid for as they said that 90% […]
Loss of car keys a reason for denial of burglary claim
Published in Mint on, Mar 12 2013, Written by Kapil Mehta I purchased my car two years ago. My insurance policy lapsed a month ago. However, the insurance company is not allowing me to renew the policy as there is a dent on the car. I had not claimed for the damage. Can the insurance […]
Assigning life insurance policy to a friend is not advised
Published in Mint on, Feb 26 2013, Written by Kapil Mehta A friend recently committed suicide and he is survived by his mother and sister. His policy is five years old. Are claims given in suicide cases? —Raina Your friend’s nominees will get the entire death benefit. Death benefit is not paid if the policyholder […]
Companies may change health cover plans due to cost issues
Published in Mint on, Feb 12 2013, Written by Kapil Mehta I am 53 years old and work with a large company. My wife and my two teenage daughters are dependant on me. My company takes care of all our healthcare needs, hence I have not opted for any health insurance cover, though I do […]
Discharge from hospital – The most inefficient processes
Published in Mint on, Jan 29 2013, Written by Kapil Mehta My electronic items are under warranty. Do I still need to insure them? —Hemant You do not need to get an all-risk cover or a machinery breakdown cover for electronic items. A simple burglary and fire insurance should do. We had cashless treatment pre-approved […]
Life insurance is good for goals that are five years away
Published in Mint on, Jan 22 2013, Written by Kapil Mehta I am 30 years old and my mother and wife are dependant on me. I want to buy a life insurance policy. What are the important questions that I need to ask an insurer before buying a policy? Also I want to buy a […]
For home insurance, inform insurer when going out of town
Published in Mint on, Jan 15 2013, Written by Kapil Mehta I am 56 years old and I am a cardiac patient. I recently suffered a cardiac arrest. When buying a health insurance policy for myself, what are the things I should keep in mind? —Kamal Das Unfortunately, you will find it difficult to secure […]
In insurance no-medical, short-cut option can cost more
Published in Mint on, Jan 10 2013, Written by Kapil Mehta I learnt the hard way that life insurance is a product that everybody needs but nobody wants. Twenty years ago when I began my career in a consumer goods company, I was astonished at the pace at which high-end cosmetics flew off retailer shelves. […]
Most endowment plans have low underlying returns
Published in Mint on, Dec 18 2012, Written by Kapil Mehta I bought a term insurance plan of Rs.50 lakh in 2010. My salary has increased and I want the amount to be Rs.90 lakh. Should I buy another term plan of Rs.40 lakh or is there a way to increase the amount in the […]