Published in Mint on, May 08 2012, Written by Kapil Mehta I am 28 years old and my parents and 16-year-old brother are my dependents. My monthly net income is Rs62,000. Should I calculate the amount of cover based on my income or on the number of dependents? Is insurance from a government-owned company better […]
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Ask Mint Money | Online term plans are cheaper as there are no distributor fees
Published in Mint on, Apr 24 2012, Written by Kapil Mehta I have a term insurance policy. When I compared the premiums charged for online term insurance with that charged by private companies, I realized that the amount that I am paying is very high and I can get the same cover at a lower […]
Insurance claims: a clean-up needed
Published in Mint on, Mar 26 2012, Written by Kapil Mehta I have discovered a pitfall of being in insurance. Whenever I am at a get-together, people gather around me to recount the different ways in which they have been cheated. This is disconcerting. While I can and do give a spirited defence in many […]
Insurance companies cover laptops on an ‘all risk’ basis
Published in Mint on 8th July 2014, Written by Abhishek Bondia I plan to get a compressed natural gas (CNG) kit installed in my car. How can the car be insured? —Tanmay Bhatt Motor policies can insure cars fitted with CNG kits. You will be charged an additional premium. Your insurer will provide the exact […]
Transfer NCB to new car by cancelling old car’s insurance
Published in Mint on 22nd July 2014, Written by Abhishek Bondia I am 35 years old and as of now, I only have a term plan of Rs. 40 lakh. What health cover would you recommend for me? —Madhur Gupte You should not mix health and term covers, as these are unrelated. Term plan is […]
Policies do not cover all the treatments done at hospitals
Published in Mint on 5th Aug 2014, Written by Abhishek Bondia Does a mediclaim cover any treatment done at a hospital? Or, are there some that are not covered? —Binu Ved Health policies are meant to cover treatments done at hospitals. However, all treatments done at hospitals are not automatically covered. Generally, those that are […]
Switch health insurance 45 days before the renewal date
Published in Mint on 19th Aug 2015, Written by Abhishek Bondia What is the best time to switch between health insurance policies? The one I have has many useful features but is too expensive. I think I can get similar features with a collection of policies at a lower cost. —Kasturi Bhanuj The best time […]
Nature of commercial activity decides risk value
Published in Mint on 16th Sept 2014, Written by Abhishek Bondia I have read that with regards to home insurance, the claim can get rejected if there are commercial activities happening in the premise. Does this mean that if I offer tuition in my house, my claim can get rejected? —Sanjay The type of activity […]
Deductible is the amount of loss borne by the insured
Published in Mint on 14th October 2014, Written by Abhishek Bondia Someone recently told me about event insurance. Is it absolutely necessary to take this sort of insurance for my daughter’s wedding? —Satish Apart from third-party liability insurance for your car, no other insurance is mandatory in our country. However, I recommend buying event insurance […]
No-claim bonus from company’s name can be transferred to you
Published in Mint on 11th Nov 2014, Written by Abhishek Bondia I have a Rs. 1-lakh health insurance cover from a private sector insurer and want to increase my cover to at least Rs. 5 lakh. Is it better to stay with the same company or should I look for a new insurer? —Thomas Cherian […]