Published in Mint on, Apr 16 2013, Written by Kapil Mehta I am 28 years old and I want to buy a term insurance cover of Rs.1 crore. What is the difference between term plans offered by public and private insurers? I understand public insurers call for medical tests if the sum assured exceeds a […]
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Unlike term plans, accidental death riders have some caveats
Published in Mint on, Apr 09 2013, Written by Kapil Mehta What all comes under the accidental death rider? Will my family members be able to claim the term cover (if I also have an accidental death rider with the term insurance) that I have if I die in a bomb blast? —Santosh Accidental death […]
Ulips are cost-effective if you have a 7-10 year outlook
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 […]
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% […]
If condition of bronchitis is severe Insurers can charge a higher premium
Published in Mint on, Mar 19 2013, Written by Kapil Mehta I bought a term plan of Rs.50 lakh three years ago. Now my income has increased threefold. Do I need to increase my cover? If yes, then tell me ways to do it. —K. Baig You ought to have about ten times your annual […]
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 […]
Smokers need to do medical tests to assess nicotine intake
Published in Mint on, Mar 05 2013, Written by Kapil Mehta I plan to buy an online term plan. I have researched a bit online and seen that insurers ask whether I am a smoker or not. But there is no limit. I smoke maybe a cigarette a week. Will I be considered a smoker? […]
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 […]