Published in Mint on Apr 13 2016, Written by Kapil Mehta The most frequent insurance claims in India relate to motor accidents. Over 10,000 motor insurance claims are filed every day; in larger cities there are over 1,000 claims a day. The good news, if you can think of it like that, is that a […]
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Insurance footnotes you wish you had read earlier
Published in Mint on, Nov 05 2012, Written by Kapil Mehta The thing about insurance is that you realize its value (or lack thereof) only at the time of making a claim. A claim denied or not fully paid for a reason that you were not aware of may really hurt. I get such complaints […]
Provide accurate information in insurance proposal forms
Published in Mint on , Dec 12 2011, Written by Kapil Mehta The period between January and March is the busiest for the insurance sector. People rush to purchase insurance policies to save income tax. However, the insurance proposal form remains a mere formality. Often a blank form is signed for the agent to fill later. […]
The role of employee benefit insurance schemes in SMEs
Published in Economic Times on 25 May, 2015, Written by Kapil Mehta Small companies should start looking at group insurance schemes for their employees owing to the extra benefits that accumulate over and above the features available against an individually bought insurance scheme. What are Employee Benefit Insurances? Large companies routinely use medical and life […]
Employer-employee insurance: A tax-efficient way for SMEs to purchase insurance
Published in Economic Times on 9 June 2015, Written by Kapil Mehta What is employer-employee Insurance? The employer-employee structure is one where the company buys insurance but the beneficiary is an employee. It is a benefit given by the company to select employees. In today’s context, this is particularly relevant because attracting and retaining employees […]
Buying student travel insurance in India is more cost-effective
Published in Mint on 21 July, 2015, Written by Abhishek Bondia My office provides medical cover up to Rs.3 lakh for the family. Should I take a top-up from the same insurer? —Vikram Gandotra Insurance companies offer two kinds of top-up covers. One is a group top-up plan, linked to the employer’s group insurance scheme, […]
Most term insurance policies have zero surrender value
Published in Mint on 11 August, 2015, Written by Abhishek Bondia Can I change the premium payment frequency of a life insurance policy? If so, how do I go about doing it? —Hari Krishanan Yes, you can change the premium payment frequency of a life insurance policy. For instance, move from monthly premium mode to […]
Commercial general liability (CGL) insurance
Q1. What is Commercial General Liability (CGL) and why, as a business owner, you need it? Commercial general liability insurance, or CGL, is coverage that will protect your business in the event that you are sued by a third party for bodily injury and property damage. It is often used to cover claims against your […]
The Group Health Insurance Policy
What is Group Health Insurance Policy? Group Health Insurance (or Group Mediclaim) provides healthcare coverage to a group of people belonging to a common community (typically as employees of a company). Group Health Insurance plans are generally uniform in nature, offering the same benefits to all employees or members of the group. However, the biggest […]
Maternity benefits in Group Health Insurance
One of the features that young employees value is maternity benefits in group health insurance. This post explores what makes this feature so appealing to employees. Key Takeaways The “Day 1” Milestone: For young families, the ability to waive the standard 3-4 year maternity waiting period is the ultimate benefit. It allows employees to claim […]