Published in Mint on Feb 27 2017, Written by Abhishek Bondia I have a unit-linked insurance plan (Ulip) that I had bought in 2009. I have a family situation where I need to help my brother to pay his son’s college fees. Can I borrow against this policy? Will it be of the same value […]
Articles Tagged: Term Insurance
Term insurance is not an investment product, as it has no maturity value
Published in Mint on Feb 02 2017, Written by Abhishek Bondia How do I lower the cost of buying life insurance? I am 28 years old and earn Rs20,000 per month. I am the sole earner in my family and can only spare around Rs2,000-3,000 a month for insurance, which I now consider to be […]
New terminal illness-based term plan on the block
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 […]
What is the meaning of An Insurance?
The concept of insurance originates from the principle of sharing the risks by a large group to reduce the burden on the few. Insurance also refers to ‘Risk Transfer’ in the language of risk management techniques. So, let’s discuss in detail what is the meaning of Insurance. Insurance is a legal contract involving two parties, […]
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 cover 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 […]
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 […]
Term Life Insurance Rates
Footnotes: 1. Date of birth has been assumed to be April 1st in the respective year for each. age group 2. Rates are for a male, non-smoker, delhi-based. 3. DHFL Pramerica, Star Union Dai-chi Insurance Co Ltd. are offline plans. 4. Claim settlement = Claims settled/(claims settled + claims rejected+ claims repudiated). 5. Exide Life […]
Number of diseases covered by a critical illness rider vary across plans
Published in Mint on Oct 27 2016, Written by Abhishek Bondia What is a critical illness rider in a term insurance plan? When is the payment made if one has a critical illness rider with a life insurance policy? What is accelerated rider? —Kaushal Jadhav A critical illness rider provides a lump sum to the […]
Claim Settlement Ratio Of Life Insurers
Claim settlement ratio is an objective yardstick to select a reliable insurer. Especially for term insurance buyers, the death claim settlement record of the insurer is critical to measure. The purpose of insurance gets defeated if the claim is not honored. It pinches more when beneficiaries are reliant on the insurance proceeds. In such a […]
Old term insurance plans can be revived by paying unpaid premiums
Published in Mint on Aug 30 2016, Written by Abhishek Bondia What is a life annuity cover? Is it a good option for a life insurance plan? —Rajbir Singh In a life annuity plan, annuity payments continue till the death of the person covered, irrespective of age. There are several forms of annuities available. In […]