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. Insurance is a legal contract involving two parties, where one party proposes to the other for indemnification against financial […]
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 […]
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 […]
Joint term life policies offer limited advantages
Published in Mint on Aug 2 2016, Written by Abhishek Bondia I am getting married soon. My to-be wife plans to get a term plan after the marriage. Should I buy a combined cover then or an individual plan now? —Ravi Saxena You should buy an individual term life plan now and not wait to buy […]
