Published in Mint on Dec 14 2016. Online term insurance policies are seeing a lot of innovation. Apart from breaking the sum assured into periodic payments for a beneficiary upon the death of the policyholder, IDBI Federal Life Insurance Co. Ltd’s iSurance Flexi Term Insurance Plan also offers to pay a portion of the sum […]
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How does the Group Personal Accident cover benefits your organization?
It is the responsibility of the employer to protect its employees. The employees being an important part of the organization, and the group personal accident cover helps in protecting the employees. The policy cover helps in covering the medical expenses and other compensation to the employees in case of an accident or injury and against […]
Why is workman’s compensation policy is a must for Organisations?
While organizations try to make the workplace as safe as possible, accidents can happen anytime. According to the report published in a leading newspaper, the Ministry of Labour reported an average incidence of 1,400 fatal and 1 lakh non-fatal accidents in non-domestic places. It is the employers’ responsibility to ensure their workers are working in […]
A first loss policy for burglary coverage can reduce the premium, but it also limits the claim amount
Published in Mint on Nov 02 2016, Written by Abhishek Bondia For my home insurance policy, my insurer has proposed a first loss policy for burglary coverage. What does this mean? Should I buy this? —Sahil Bagga A first loss policy is common for burglary and theft policies. When it is unlikely that the complete […]
Not All Those Who Wander Are Lost
Published in Though Leadership Compendium: India Innovation Initiative by CII Written by Kapil Mehta There was a time when entrepreneurship was considered unconventional, offbeat even. It was for the dreamers, the outliers. It was for millennials who looked at life differently, who yearned to know the world better, for whom ordinary just wasn’t enough. Perhaps […]
Mediclaim malfunction maladies
Published in Mint on Oct 04 2016. Did you know that you get different rates for the same surgery if you go as an uninsured person, or if you go with your own cover or if you go with a group cover? Rates vary across insurance firms as well. I had heard of it, but […]
When fine print stumps your policy claim
Published in Mint on Aug 16 2016 Most people buy insurance in three quick steps: give the agent a quick listen, sign off on the paper and store the policy away. Yes, insurance legalese makes for laboured reading, but ignorance is even more painful. You need to know your policy—the exclusions at the very least—to […]
Portability between insurers is allowed for individual products
Published in Mint on JUN 14 2016, Written by Abhishek Bondia I want to insure the interior furnishings of my office. What kind of insurance would be suitable? The structure of the office is already insured. —Keshav Sinha You should buy a standard fire and special perils policy. This policy will cover risks such as […]
For a smoother claims settlement process
Published in Mint on Jun 03 2016 Reasons for a health insurance claim being delayed or rejected altogether range from administrative delays by hospitals to poor documentation, further enquiries by the insurer or even poor understanding of a policy by the policyholder. But you can prevent the claims process from turning sour by arming yourself […]
Life insurers selling policies that die early
Published in Mint on Apr 19 2016 What are the chances that a poorly understood and badly sold life insurance policy will run its course? Pretty slim, according to the life insurance industry experience in India. Poor selling practices—long-term policies being sold as short-term policies, lack of communication of policy benefits, poor understanding of costs, […]