Published in Mint on Mar 07 2016 The basics of financial planning don’t change for women investors. Setting financial goals, discovering your risk appetite and finding products that are in line with your comfort and your goals continue to be the cornerstones of financial planning. The products remain the same, but some have added benefits […]
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Insurers don’t classify smokers based on smoking intensity
Published in Mint on, March 9 2016, Written by Abhishek Bondia My father bought some policies on the suggestion of an agent who claimed to be a financial adviser from the Insurance Regulatory and Development Authority of India (Irdai). He said these policies are just one-time investments and took a total of Rs.6.16 lakh. He […]
Discharge from hospital – The most inefficient processes
Published in Mint on, Jan 29 2013, Written by Kapil Mehta My electronic items are under warranty. Do I still need to insure them? —Hemant You do not need to get an all-risk cover or a machinery breakdown cover for electronic items. A simple burglary and fire insurance should do. We had cashless treatment pre-approved […]
Fuzzy logic in health cover contracts
Published in Mint on 23rd June,2014, Written by Kapil Mehta Insurance contracts are one-sided. You see it after paying and completing your medical tests. There is little you can do to change the contract. Last year, the Insurance Regulatory and Development Authority (Irda) standardized definitions for several diseases and terms in health insurance contracts. This […]
How to insure your property from damage
Published in Economic Times on 30 July 2015, Written by Kapil Mehta A shop owner faced a huge loss of his raw material and premises when water leaked through the ceiling of the bathroom of his godown. In locating the source of the leakage, the plumber ripped out the entire bathroom including the tiles and […]
All insurers cover pre-existing illness after a waiting period
Published in Mint on 24 November, 2015, Written by Abhishek Bondia My mother is 68 years old and has a mediclaim policy that is six years in running. Only one claim was made. I plan to increase the cover amount next year but with another insurer as the present insurer has hiked the premium steeply. […]
Insurers generally issue limited coverage policy for used items
Published in Mint on 8 December, 2015, Written by Abhishek Bondia My family consists of me (32), my wife (30), my father (64) and my mother (60). I am looking for a health insurance plan for all of us. Should I go for family floater or separate policy for myself and my wife, and a […]
More payment for distributors sought
Published in Mint on Jan 14 2016 The Insurance Regulatory and Development Authority of India (Irdai) came out with a draft circular on the payment of commission to insurance agents and intermediaries on Wednesday. The Insurance Laws (Amendment) Act, 2015, gives powers to Irdai to decide remuneration structure for distributors. The draft also specified rewards […]
Advisors take professional indemnity cover
Published in Cafemutual on 3rd September, 2015 Financial advisors are increasingly opting for professional indemnity insurance which protects them against any litigation due to errors or negligence in their practice. In case of financial advisors, such errors can occur due to judgmental errors. IFAs say that this cover has come into spotlight after The New […]
Stopping premiums can reduce life cover
Published in Mint on Dec 02 2015 The Insurance Regulatory and Development Authority of India (Irdai) reiterated recently that when a policy is surrendered or discontinued, the insurer will have to follow the rules stipulated by linked and non-linked product regulations that came out in 2013. The regulator said so in a notification that came […]