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 […]
Articles Tagged: Term Insurance
Most term insurance policies do not offer surrender value
Published in Mint on 26 May 2015, Written by Abhishek Bondia How should one decide the tenor of a life insurance policy? —Deepti Kumar The tenor of a life insurance policy should be based on the underlying goal. For instance, in case of a term insurance plan, the goal is to replace income flow. So, […]
Contractual workers can be covered under group term plan
Published in Mint, Written by Kapil Mehta I will be taking an online term insurance in this month. Being a central government employee (36 years old), my family and I are eligible for pension after 20 years of service. Presently, I am in my 12th year of service. Should I take the term up to […]
How is life insurance premium calculated?
Published in Economic Times. The premium that you have to pay for a life insurance policy depends on various factors like age, total coverage (sum assured), your medical history, gender, lifestyle, and job. However, the premium for the same life insurance coverage amount will vary from insurer to insurer. What is life insurance and why […]
A Customer’s Perspective on Lapses
Published in IRDA Journal in August 2011,Written by Kapil Mehta High lapse of life insurance policies is one of the most serious issues in the Indian market place. On average about 20 per cent of policies lapse in the first year. At some companies and in some product lines lapses are much higher. When applied to […]
Risks covered under term and personal accident plans vary
Published in Mint on 17th June 2014, Written by Kapil Mehta I am 33 years old, male, married and a non-smoker. I am looking to buy a term insurance plan for Rs.1 crore. Please suggest which provider to go for. —Ankit Buy a term plan that conducts medical tests and costs the least. In your […]
Consumption of large amounts of alcohol might deny you cover
Published in Mint on 25th February 2014, Written by Kapil Mehta I will be going abroad for around seven years. I want to know whether I can pay my premiums through cheques from my account there. —Jayanti Bose Insurers generally prefer that you pay in Indian rupees. Paying in foreign currency is possible but comes […]
Buy different products for protection and retirement needs
Published in Mint on May 06 2014, Written by Kapil Mehta I am 37 years old old and I want to buy a term insurance plan. At the same time, I want to secure my post-retirement life. My take-home salary is not more than Rs. 24,000 per month. Which term plan would be best for me […]
Insurance in India – An Infant finds its Legs
Published in IBEF on 2nd March,2014, Written by Kapil Mehta Insurance in India is one of the last untapped bastions of financial services anywhere in the world. There is an attractive window of opportunity for companies to enter this market now to build their businesses. The market is large, over US$ 30 billion of new […]
Life insurance policies cover death due to drunken driving
Published in Mint, Written by Kapil Mehta As a non-resident Indian (NRI), what are the various ways in which I can remit payment of premium to an insurer? —Jay Nambiar The two most prevalent ways of payment are: (a) electronic rupee transfer. This could be from your overseas, domestic or NRI account; (b) credit card […]