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 these […]
Articles Tagged: Insurance
When fine print stumps your policy claim
Published in Mint on Aug 16 2016 Most people buy insurance in three quick steps: give the agent a quick listen, sign off on the paper and store the policy away. Yes, insurance legalese makes for laboured reading, but ignorance is even more painful. You need to know your policy—the exclusions at the very least—to […]
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; […]
Use investment products for right purposes
Published in Mint on Jun 13 2016 Every time there is a personal finance crisis, it can be easily traced to products that did not do what they were intended to do, or had no place in the individual’s portfolio given their needs and goals. While the focus of investors is always on selecting the […]
Life insurance policy can be held in demat or hard copy format
Published in Mint on May 03 2016, Written by Abhishek Bondia Can a policy holder have a life cover in both electronic and paper form? —Geetesh Handa You can choose to keep your policy either in de-materialised (demat) or hard copy form, but not in both. But you can opt to keep some policies in […]
First goals, and then products
Published in Mint on Mar 07 2016 The basics of financial planning don’t change for women investors. Setting financial goals, discovering your risk appetite and finding products that are in line with your comfort and your goals continue to be the cornerstones of financial planning. The products remain the same, but some have added benefits […]
Not many insurers offer term cover to those over 60
Published in Mint on, May 28 2013, Written By Kapil Mehta Are there life insurance policies for someone above the age of 60? How can I get it? I want to get a policy as my granddaughter is dependant on me. —Kajal Life insurance to take care of your grandchild is a lovely legacy to […]
Buying a pension plan? Pick annuity first
Published in Mint on Aug 17 2015 The Insurance Regulatory and Development Authority of India (Irdai) has now made it mandatory for customers who buy pension plans from life insurance companies to select an annuity option at the time of purchase itself. An annuity is a pension product that provides periodic income. You buy a […]
5 advantages of insurance going digital
Published in Mint on Aug 03 2015. Advantages of insurance going digital. Digital insurance services offer convenience, choice and comparison. The financial services industry, including insurance, is also making efforts to tap this space. Life insurance, traditionally sold by agents, is available for online purchase, often at lower prices. According to a report by Boston […]