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 […]
Articles Tagged: general insurance
Participation in the Mint SecureNow Mediclaim ratings is not optional
The product options that are rated, have increased from 162 in 2013 to 423 this year Published in Mint Mon, Aug 1, 2016, written by Kapil Mehta The Mint SecureNow Mediclaim Ratings (MSMR) take an enormous effort to be put together. Over 10,000 pieces of information bits on health insurance are collated from public sources […]
Policy terms can’t be changed during free look period
Published in Mint on JUL 19 2016, Written by Abhishek Bondia What are the important riders that can be bought with a basic term life plan? —Kunal Gupta Common riders available with a term life plan include: accidental death, permanent disability, and critical illness. Critical illness rider with a term plan is recommended. This helps […]
Why information gaps in insurance must be closed
Published in Mint on JUL 20 2016, Written by Kapil Mehta Information breathes life into our decisions. It improves industry conduct and, in insurance it reduces grossly wrong choices. At its best: information is simplified, data clutter is removed and the focus is on essential facts. Unfortunately, the insurance ecosystem—and I include hospitals in that—is still […]
Term plan’s sum assured must be at least 10 times annual income
Published in Mint on JUL 05 2016, Written by Abhishek Bondia What are the main things to check when selecting a life insurance policy? I am 31 years old and married. —Rajneesh Sharma The two most important factors to consider in a life insurance policy are the insurer’s claim settlement track record and the sum […]
Most health insurance policies cover preventive check ups
Published in Mint on JUN 28 2016, Written by Abhishek Bondia I was admitted in the hospital with dengue fever in September 2012. I purchased a mediclaim policy now, do I need to disclose the same as a pre-existing disease? —Roshni Garg Yes, you should fully declare your past hospitalisation record while buying a new […]
A child life insurance plan is essentially an investment plan
Published in Mint on JUN 21 2016, Written by Abhishek Bondia What is the cost of a living rider in a life insurance policy? —Kanishk Mahapatra There are two types of cost of living riders. One is a benefit to account for inflation and the need to replace higher income. Several life insurance products factor […]
Insurance e-commerce norms take shape
Published in Mint on Jun 21 2016 The world is moving online and so should the way you buy the most important instrument in your money box: insurance. To help build an online platform for insurance, the Insurance Regulatory and Development Authority of India (Irdai), earlier this month, drafted the Insurance E-commerce Regulations (http://bit.ly/28KdHMg ). […]
What young adults think about insurance
Published in Mint on JUN 15 2016, Written by Kapil Mehta I signed up on Quora, a social media site, about a year ago. On this site, anybody can ask a question, directed to specific people. Readers validate answers by voting. The site is frequented by engineers, entrepreneurs, students of Indian Institute of Technology (IIT; […]
Portability is not allowed for life insurance policies
Published in Mint on May 17 2016, Written by Abhishek Bondia Is it possible to change the frequency of premium payments from monthly to annual? —Kaushal Verma Yes. You can change the frequency of premium payment. You would need to place a written request with your insurer for it. Typically, such changes are incorporated on […]