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Standard fire policy covers a house and its contents

Published in Mint on Aug 9 2016, Written by Abhishek Bondia Can I insure the furnishings of my new house? How does it work? —Monisha Burman Yes, you can insure the furnishings of your new house under your home insurance policy. The standard fire and special perils policy covers the building as well as its […]

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Joint term life policies offer limited advantages

Published in Mint on Aug 2 2016, Written by Abhishek Bondia I am getting married soon. My to-be wife plans to get a term plan after the marriage. Should I buy a combined cover then or an individual plan now? —Ravi Saxena You should buy an individual term life plan now and not wait to buy […]

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Underwriting practices vary across insurance companies

Published in Mint on July 26 2016, Written by Abhishek Bondia Can a dent on the car be reason enough for not giving it insurance coverage? My car’s insurance is due for renewal and they are asking me to fix the dent on my own. —Rakesh Sundria Underwriting practices vary across insurers. However, it is […]

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Term plan’s sum assured must be at least 10 times annual income

Published in Mint on JUL 05 2016, Written by Abhishek Bondia What are the main things to check when selecting a life insurance policy? I am 31 years old and married. —Rajneesh Sharma The two most important factors to consider in a life insurance policy are the insurer’s claim settlement track record and the sum […]

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Most health insurance policies cover preventive check ups

Published in Mint on JUN 28 2016, Written by Abhishek Bondia I was admitted in the hospital with dengue fever in September 2012. I purchased a mediclaim policy now, do I need to disclose the same as a pre-existing disease? —Roshni Garg Yes, you should fully declare your past hospitalisation record while buying a new […]

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A child life insurance plan is essentially an investment plan

Published in Mint on JUN 21 2016, Written by Abhishek Bondia What is the cost of a living rider in a life insurance policy? —Kanishk Mahapatra There are two types of cost of living riders. One is a benefit to account for inflation and the need to replace higher income. Several life insurance products factor […]

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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 […]

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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 […]

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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 […]

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