Published in Mint on Dec 13 2016. On 8 December, the government announced a slew of incentives on digital transactions. Such transactions include those done with credit cards, debit cards, e-wallet, mobile apps and Net banking. The government said that in the aftermath of the cancellation of the legal tender character of old Rs500 and […]
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Health insurance policy ratings have to evolve as more customer data becomes available
Published in Mint on Dec 08 2016 It is time for the regulator to work on a standard product that every company has to make available. The panel on the topic ‘Issues in rating health insurance policies’ had Anuj Gulati, MD, and CEO, of Religare Health Insurance Co. Ltd; Kapil Mehta, co-founder, SecureNow Insurance Broker […]
Conflicts of interest hurt the business of insurance
Published in Mint on 6 December 2015, Written by Kapil Mehta Businesses deal with conflicts of interest routinely. Most such conflicts are harmless. The worst outcome of a pushy, incentive-driven salesperson is that like P.G. Wodehouse’s Bertie Wooster you, too, may end up with horrible purple socks never to be worn. In some cases, though, […]
Discard these insurance plans
Published in Mint on Dec 05 2016, Written by Kapil Mehta Insurances can become irrelevant because of product improvements, lower current cost, change in laws or even lack of expected change in laws. Friends often send me their insurance portfolios to review. As I browse through the dusty files there are many insurances that are […]
Some insurers can only cover overseas treatment for critical illnesses
Published in Mint on Dec 01 2016, Written by Abhishek Bondia There are different protocols to claim for treatment overseas. Some insurers require cashless payment, whereas others prefer reimbursement. Is it possible to get coverage for treatment outside India under a health insurance plan? —Kavita Lahiri Medical insurance plans issued by Indian insurers cover treatment […]
Individual life insurance is relatively more economical than joint life plans
Published in Mint on Nov 25, 2016, Written by Abhishek Bondia I want to extend my life insurance coverage to include my wife. Should I go for it or would it just be better to get another plan instead? —Atul Shandilya Yes, you should get a separate plan for your wife. There are limited options […]
Inform insurer about any installation in your car to get it covered in motor insurance
Published in Mint on Nov 17, 2016, Written by Abhishek Bondia I have a motor insurance policy. If I install a music system in my car during the policy period, will that be covered? —Ankit Moranha The music system installed in your car can be covered if you inform the insurer and pay an additional […]
Keyman insurance provides financial security to a firm during volatility
Published in Mint on Nov 10 2016, Written by Abhishek Bondia I and four of my friends have got together to start a business. We have hired 15 more employees. I have read somewhere that a company should buy ‘keyman’ insurance. Can you please explain what this it and what are its benefits for a […]
How not to be rejected by a health insurance company
Published in Mint on 4 November 2015, Written by Kapil Mehta One would expect that with all the competition in insurance, insurers would queue up to sell to you. Unfortunately, that’s not true. The hardest part of buying health insurance is getting the insurer to issue you a policy. Most insurers are risk-averse and would […]
Are you a good insurance customer?
Published in Mint on Nov 03 2016, Written by Kapil Mehta Buying insurance is an intense process. You share intimate details on your health and income, subjecting yourself to scrutiny from insurers. When things go wrong in this process, the instinctive reaction is to blame the insurer or the salesperson. But customers are also at […]