Published in Livemint. After much deliberation, the Insurance Regulatory and Development Authority of India (Irdai) on Friday published the guidelines for the covid-19 standard benefit-based and the covid-19 standard indemnity health policies. All life, general and standalone health insurance companies have been encouraged to offer the benefit-based policy, while all health and general insurance companies […]
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Don’t hide any fact from insurer while filling proposal form
Published in Mint on Jan 14 2014, written by Kapil Mehta How long does it usually take for the insurer to pay claims that happen due to critical illness? —P. Chandra The insurance regulator requires insurers to settle claims within 30 days of receiving the required documents and clarifications. Payment time for critical illness is similar […]
Bank locker theft: Who is liable?
Published in Mint on 20th November, 2017. Around 46 years ago, on a September weekend in London, thieves dug a tunnel to enter Lloyds Bank on Baker Street and broke into the safety deposit boxes of the bank, stealing close to £500,000. Thirty six years later, in 2008, in a movie called The Bank Job, Hollywood […]
Top FinTech Companies in India
India is currently one of the most active FinTech markets in the world. As a result, it has drawn the maximum investments in the sector, along with China. Two important missions led by the Government of India, one of Financial Inclusion and the other of a Digital India, are driving innovation. Thus, such initiatives have […]
Learner’s with valid licence are covered by motor insurance
Published in Mint on Jan 07 2014, Written by Kapil Mehta My daughter, who has a learner’s licence, had an accident recently wherein she drove into a small shop. I want to know that since the car is in my name, will the insurance company compensate the shop owner? —M. Chabbra There are three implicit insurance […]
Insurance companies can now sell short-term covid-19 health plans
Published in Livemint In a bid to offer better coverage to policyholders amid the covid-19 pandemic, the Insurance Regulatory and Development Authority of India (Irdai) has sent out draft guidelines to all general and health insurance companies, mandating them to offer standard indemnity and fixed-benefit plans for covid-19. Life and general insurers have also been […]
How much sum assured, and other common questions
Published in Mint on 5th November,2014, Written by Kapil Mehta I like algorithms. These systematic rules can solve most problems. Google’s PageRank forms the basis of Web search; travelling salesman algorithms help schedule flights; poor quality queuing algorithms explain why I always have the longest wait at elevators in Gurgaon. In this column, I share […]
If you were mis-sold Ulips, exit when surrender cost is zero
Published in Mint on, Oct 08 2013, Written by Kapil Mehta I started investing in a life insurance-cum-investment plan amounting to Rs.50,000 per annum as premium and it had a lock-in period of three years. Till date, I have paid 4 instalments (total amount paid till date is Rs.2 lakh for four years) but its […]
In case of a job loss do check if your company gives you a personal health policy
Published in Moneycontrol Apart from the loss of income and trauma, one of the biggest side effects of losing a job is the loss of health insurance benefits. The going has been tough for many salaried employees across sectors owing to the novel Coronavirus Disease-induced (COVID-19) nationwide lockdown. Many corporates have handed out pay cuts, […]