Taking the trick and trap out of insurance

Published in Mint on Sep 16 2015   Mint Money has always advised you to avoid traditional insurance policies that double up as investment products. This is primarily because of three reasons: high costs, opaque structures and poor investment returns from these policies. But if recommendations of the Sumit Bose committee are implemented, most of […]

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If you were mis-sold Ulips, exit when surrender cost is zero

Published in Mint on, Oct 08 2013, Written by Kapil Mehta I started investing in a life insurance-cum-investment plan amounting to Rs.50,000 per annum as premium and it had a lock-in period of three years. Till date, I have paid 4 instalments (total amount paid till date is Rs.2 lakh for four years) but its […]

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New rules give insurance web aggregators a boost

Published in Mint, on  10th May 2017 Insurance Regulatory and Development Authority of India (Irdai), in a gazette notification dated 13 April, laid down the rules for insurance web aggregators: Irdai (Insurance Web Aggregators) Regulations, 2017. According to the aggregators we spoke to, these regulations do not cause any major disruption, as they mainly aim […]

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Face-off in insurance distribution

Published in Mint, Written by Kapil Mehta The business world is replete with ferocious two-sided battles—iOS versus Android, Linux versus Windows, Big versus Small retail, budget versus full-service airlines, and so on. These battles are fought globally and across industries, but have two things in common: at stake is the fundamental principle of how much […]

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Claim can be rejected if you don’t disclose health condition

Published in Mint on Nov 19 2013, Written by Kapil Mehta I have a unit-linked insurance plan (Ulip) from a private life insurer for which the annual premium is Rs.25,000. Till now I have made three annual payments. The policy period is 15 years and the premium period is 15 years as well. The fund […]

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Easier to pay regular premiums than a big one-time payment

Published in Mint on 25th March 2014, Written by Kapil Mehta Should one opt for a single premium insurance product or a multiple premium product? —Jayesh Gupta A policy that requires a single premium payment has two advantages and one disadvantage. The first benefit is that you need not worry about renewal dates since no […]

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