Published in Mint on 5th March 2018. Written by Abhishek Bondia I bought jewellery worth Rs25 lakh from a reputed jeweller about 3 years ago. I want to get this insured. How will this jewellery be valued? Will it be valued on the tag price or will the insurer get them valued? I have heard […]
Media
It is not recommended to buy an annuity plan that starts payout after the age of 90
Published in Mint on 26th February 2018. Written by Abhishek Bondia I am 55 years old. One of my nieces has joined an insurance company as an agent. She is proposing that I take a life insurance policy that will give me a regular income after I reach 90 years of age. After my death, […]
Impossible to say which is the best insurer in India
Published in Mint on 21th February, 2018. Written by Kapil Mehta I am often asked who the ‘best’ insurers are? I try to dodge that question because the answer requires a detailed analysis of what one is looking for. When Alice in Lewis Carroll’s stories asks which way she should go, the Cheshire Cat wisely […]
Pet owners can buy insurance to pay for legal fees and compensations
Published in Mint on 19th February, 2018. Written by Abhishek Bondia We live in a small housing cooperative society that has 20 units. Recently, one of the members took a ferocious-looking dog as pet. It is very harmless now but could become a problem later on as such dogs are known to be aggressive. Is […]
Getting intermediary compensation right
Published in Mint on 17 February, 2016, Written by Kapil Mehta Earlier this year, the Insurance Regulatory and Development Authority of India (Irdai) issued an exposure draft on compensation for insurance intermediaries such as agents and brokers. The number of industry stakeholders who have responded to the draft is among the highest ever. Why? Because […]
Your friends cannot be the beneficial nominees of a life insurance policy
Published in Mint on 12th February, 2018. Written by Abhishek Bondia I am single and have no dependents. Can I buy an insurance policy and make my friend a beneficiary? I have taken some loan from him, which I am repaying regularly. —Rohit Bhatia Yes, it is possible to make a friend a nominee in […]
If a private car is given for commercial use, claim during that period is inadmissible
Published in Mint on 5th February 2018. Written by Abhishek Bondia. I had lent my car to a friend for election campaigning. However, my friend told me that the car got stolen and he has not lodged a police complaint. Can I file my claim in the normal course? The car was most likely lost […]
Traditional money-back policies return money during the policy tenure
Published in Mint on 29th January, 2018. Written by Abhishek Bondia. I have accumulated about four traditional life insurance policies. I want to reduce these so that the sum assured from these policies is about Rs50 lakh. How should I decide which policies to do away with? —Girish Nair Traditional life insurance policies typically have […]
Money back life insurance policy typically yield an effective return of 3% to 5%
Published in Mint on 22nd January 2018. Written by Abhishek Bondia How does one calculate the net returns from a money-back insurance policy? I was shown two sample calculations but I am not sure if these are realistic. I want to calculate on my own. —Sahil Seth The principle of estimating net returns is to […]
Why insurance claims get rejected
Published in Mint on 21 January 2016, Written by Kapil Mehta We buy insurance expecting claims to be paid and feel bitter when that does not happen. In an ideal world, insurers would communicate terms in easy-to-follow language; buyers would take the time to read about what they are buying; documents to file a claim […]