Published in Economic Times on 29 June, 2015, Written by Kapil Mehta Over the years I have seen countless claims rejected because the case was ineffectively presented or process not followed. For example, an employee covered under group medical insurance did not intimate the Insurer/TPA about hospitalization at the time of admission into the hospital. […]
Media
Can your electronic gadgets be effectively insured?
Published in Economic Times on 11 December, 2015, Written by Kapil Mehta In this digital era, when more and more people are buying gadgets like laptops, computers, mobile phones, safety of such items is also important. Manufacturers provide a one year warranty which is mostly limited to manufacturing defects. So, if a gadget is stolen […]
Government takes charge of insurance
Published in Mint on 29 February, 2016, Written by Kapil Mehta The government has had a strong insurance track record over the past year. And the insurance industry has grown well. Life insurance, which has been in doldrums for long, is looking up again. The year-to-date growth at 16% is the highest in the past […]
Should insurers pay hereditary commission?
Published in Mint on 26th June 2018. Tarun Chugh, Managing director and CEO, Bajaj Allianz Life Insurance Co. Ltd Insurers can have their own policy Under the amended Insurance Act of 1938, payment of renewal commissions to terminated agents after 5 years of service or payment of hereditary commissions to legal heirs of agents after […]
Critical illness plans for cancer pay a lump sum if the disease is diagnosed
Published in Mint on 25th June 2018. Written by Abhishek Bondia. What does hypothecation mean? Does it apply to personal accident policies too?—Senthil Hypothecation refers to pledging an asset to a lender. In the event of a default, the lender can confiscate the asset to recover its dues. When an asset is mortgaged, its insurance […]
A switch applies to existing funds and not future premiums
Published in Mint on 14 April, 2015, Written by Abhishek Bondia When should one purchase life insurance. And how much insurance should one take? I am a 32-year-old woman and will be getting married in December. At present, I do not have any dependants. —Gayathri Ramachandran Life insurance should be taken once you start earning […]
Some top-up plans get upgraded to normal health policies
Published in Mint on 21 April, 2015, Written by Abhishek Bondia I am a professional scuba diver. Will overseas travel insurance cover me for accidents due to diving? —U. Dave Overseas travel insurance typically excludes professional or hazardous sports. However, if you have an accident unrelated to diving, it will be covered. So, in that […]
A policy lapses if premium isn’t paid even during grace time
Published in Mint on 28 April, 2015, Written by Abhishek Bondia I have started my own company and it has about 30 members. I am required to subscribe to provident fund (PF). I was also told about employees’ deposit-linked insurance (EDLI) scheme. What is it? —Kunal Shekhar Under the PF rules, it is mandatory for […]
Travel insurance can be extended while on a trip
Published in Mint on 5 May, 2015, Written by Abhishek Bondia If I take a two-month travel insurance, can I get it extended later on? —Sumit Chandra You can extend travel insurance in the middle of a trip. Generally, insurers would limit the maximum duration of a single trip to six months. So, you can […]
Some term plans provide life cover up to 75 years of age
Published in Mint on 12 May, 2015, Written by Abhishek Bondia I am a 57-year-old man and do not have a life cover. Can I buy a term plan now? What are the things a person my age should consider while buying a life insurance policy? —Ishwar Das You can buy a term cover at […]