There is a growing trend of term insurance covers being bought for ages beyond 70. This is fueled by two factors: One, the basic construct and exclusions of term insurance do not vary across insurers. So, in a bid to offer a differentiated proposition, insurers have increased the maximum age of coverage, going up to […]
Articles Tagged: Term Insurance
No loan facility with new Ulips but you may borrow against older policies
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 […]
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 sum […]
Conflicts of interest hurt the business of insurance
Published in Mint on 6 December 2015, Written by Kapil Mehta Businesses deal with conflicts of interest routinely. Most such conflicts are harmless. The worst outcome of a pushy, incentive-driven salesperson is that like P.G. Wodehouse’s Bertie Wooster you, too, may end up with horrible purple socks never to be worn. In some cases, though, […]
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, in the realm of risk management techniques, embodies the concept of ‘Risk Transfer.’ Here, individuals or entities shift the burden of potential losses to an insurer. By doing so, they seek […]
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 coverage 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 options […]
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
Term insurance is a type of life insurance that provides coverage for a specific period of time. The best rates for term life insurance in India will vary depending on factors such as the age of the policyholder, the amount of coverage desired, and the length of the policy term. Some of the top insurance […]
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 […]