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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 […]

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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. […]

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Make sure to disclose health status in the proposal form

Published in Mint on, Jan 08 2013, Written by Kapil Mehta I have been told that insurers deny claims on flimsy grounds. How can I be sure that my claim will get paid? —Sachdeva The claims that get denied are typically for gross non-disclosure. For instance, if a person on frequent dialysis or who has […]

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When do you get overseas health cover

Published in Mint on, Dec 25 2012, Written by Kapil Mehta I am getting married next year. Are there plans to cover weddings? If yes, what are these and where can I buy them from? —Remya My first reaction to your question was that the best wedding insurance is to find a spouse who will […]

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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 […]

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How much insurance should you buy?

Published in Mint on, Nov 06 2012, Written by Kapil Mehta I am 45 years old and I have a term insurance of Rs.60 lakh. I bought an investment-linked life insurance with a sum assured of Rs.30 lakh last month. The only investment other than this is my provident fund (PF). However, I would like […]

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Insurance footnotes you wish you had read earlier

Published in Mint on, Nov 05 2012, Written by Kapil Mehta The thing about insurance is that you realize its value (or lack thereof) only at the time of making a claim. A claim denied or not fully paid for a reason that you were not aware of may really hurt. I get such complaints […]

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A term insurance cover should be 10 time annual income

Published in Mint on OCT 09 2012, Written by Kapil Mehta I suffer from diabetes and want to buy a term plan. Will there be a loading and how much will the premium vary? If a particular insurer rejects my case, will other insurers provide cover? —Avinash It is very likely that insurers will increase […]

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