Published in Mint on Jun 21 2016 The world is moving online and so should the way you buy the most important instrument in your money box: insurance. To help build an online platform for insurance, the Insurance Regulatory and Development Authority of India (Irdai), earlier this month, drafted the Insurance E-commerce Regulations (http://bit.ly/28KdHMg ). […]
Media
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; […]
Is your health insurance enough to cover accidents?
While many of us are familiar with life insurance cover and health insurance, we have a limited to no understanding towards personal accident insurance. To put it in simple words, a personal accident insurance scheme provides cover to the policy holder against any kind of accident or disability caused from it. It is also worth […]
Use investment products for right purposes
Published in Mint on Jun 13 2016 Every time there is a personal finance crisis, it can be easily traced to products that did not do what they were intended to do, or had no place in the individual’s portfolio given their needs and goals. While the focus of investors is always on selecting the […]
Impact of HDFC Ergo, L&T Insurance merge
Published in Mint on Jun 13 2016 In a board meeting held on 3 June, HDFC Ergo General Insurance Co. Ltd approved the acquisition of L&T General Insurance Co. Ltd. Pending approvals from the Insurance Regulatory and Development Authority of India (Irdai) and the Competition Commission of India, HDFC Ergo will buy 100% stake in […]
Life insurance policy can be cancelled during freelook period
Published in Mint on May 31 2016, Written by Abhishek Bondia Can I cancel my policy during the freelook period? What is the process to cancel my policy during this period? Will I get my premium amount back? —Tahir Sheikh Yes, you can cancel your policy within the freelook period. The purpose of the period is […]
For a smoother claims settlement process
Published in Mint on Jun 03 2016 Reasons for a health insurance claim being delayed or rejected altogether range from administrative delays by hospitals to poor documentation, further enquiries by the insurer or even poor understanding of a policy by the policyholder. But you can prevent the claims process from turning sour by arming yourself […]
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 […]
Portability is not allowed for life insurance policies
Published in Mint on May 17 2016, Written by Abhishek Bondia Is it possible to change the frequency of premium payments from monthly to annual? —Kaushal Verma Yes. You can change the frequency of premium payment. You would need to place a written request with your insurer for it. Typically, such changes are incorporated on […]
Accident insurance policies provide worldwide coverage
Published in Mint on May 10 2016, Written by Abhishek Bondia What is a cost of living rider? Can this be added to my health insurance policy? —Anshita Sharma There are two kinds of cost of living riders. The first is a benefit to account for inflation. Several health insurance products factor this in by […]