A term insurance or life insurance as it is commonly known is an insurance product that guarantees cover after the death of the insured. There are various versions of term insurance available in the market. All types of term insurance have one thing in common – the nominee. How does pure-term insurance work? Term insurance is […]
Articles Tagged: nominee
Maturity of child plan should be linked to important milestones
Published in Mint on Apr 05 2016, Written by Abhishek Bondia Are there circumstances under which a life insurance company might refuse to pay for claims? —Ayush Khatri One exclusion allowed in a life insurance contract is suicide in the first policy year. Apart from this, the insurer can deny a claim if there has […]
If insurance nominee is a minor, you need to name an appointee as well
Published in Mint on August 20th, 2013, Written by Kapil Mehta What’s premium waiver benefit? —Shakti Menon Premium waiver benefit is an excellent feature offered in many child insurance plans. If the insured parent dies, then the requirement to pay premiums for the remaining policy term is waived off. Instead the insurer pays the premium […]
Wait for new guidelines to assess traditional policies
New products complying with these guidelines will be introduced over the next few months Published in Mint on August 7th, 2013 In the case of a life insurance policy, if the policyholder and the nominee die at the same time, who would get the claims proceeds? —John Wilson The short answer is the legal heirs […]
Buying insurance online is safe but read all the features before opting for one
Published in Mint on March 14 2017, Written by Abhishek Bondia I have been getting a lot of promotional emails from various online portals, telling me about lucrative life insurance plans. How reliable is buying a plan online? What should I keep in mind before purchasing any life insurance plans online? —Lavanya Rao A standard […]