Pre-Existing Disease & Group Health Insurance

Pre-Existing Disease - image

Long back, I faced an issue with my health insurance policy. Our claim got rejected on the grounds of pre-existing disease. It happened in Yr-2008 when I used to work in Kolkata. We were very unprepared for the claim rejection. Moreover, I was also unaware of the criticality of such a clause. Hence, that episode made […]

Motor Insurance: New Rule for Insurance of Cars in India

Motor Insurance - IMAGE

In India motor insurance is mandatory. It must be availed by law. Without an insurance, no vehicle can run on the roads. It is applicable for all type of vehicles: two wheelers, four wheelers and commercial vehicles. There is a reason why motor insurance is made a mandatory requirement. It helps the insurer to deal […]

Who Should Buy Zero Depreciation Car Insurance Policy?

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Buying a zero depreciation car insurance policy is a good idea. But it is costly compared to other policies. So people who can afford a zero depreciation car cover, can buy it.  For people who buy car insurance policy just because it is mandatory, can avoid zero depreciation cover. Why? Because these policies are expensive.  […]

Buying Medical Insurance cover in 40s is a must

Buying Medical Insurance Cover in 40s is a must -image

Buying medical insurance cover in 40s is not a bad idea.  Ideally, one must buy a medical cover early in life. How early? Better to have a cover right from the day of birth.  But if this was not possible, having a cover from early 20s is also great.  But what about those people who […]

When to Avoid Car Insurance Claim?

One must avoid car insurance claim in case of minor damages. Why? First pay the insurance premium, and then avoid small claims, does it make sense? Yes it will make economic sense due to a factor called No Claim Bonus (NCB). What is No Claim Bonus (NCB)? It is a discount issued by the insurance […]

Buying Insurance Cover with Home Loan is Mandatory?

Buying insurance cover with home loan is not mandatory

Buying insurance cover with home loan is not mandatory. But still, banks “insist” the borrower to avail this facility. What one must do? If buying insurance cover with home loan is not mandatory, then why the lender (banks) insist on it? There are banks who may not even accept the home loan application without insurance […]

How to buy health insurance policy?

How to buy health insurance policy -yoga

How to buy health insurance? Generally how do we buy a health insurance policy? Do we plan before buying one? In most cases the answer will be no. People mainly buy health insurance policy to save income tax. But the bigger purpose of this purchase is to handle (financially) the medical emergency when it arrives. […]

How to use life insurance money received as death benefit?

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We buy life insurance policy with a wise intention. But do we tell our family how to use life insurance money? Life insurance money is the fund received from the insurance company as a part of death benefit. This is one fund whose good or bad utilisation can make or break a family. Hence it […]

Child Insurance Plan Vs Mutual Fund Investment

One day my Life Insurance agent approached me and informed me about a child insurance plan. That insurance policy provided insurance coverage of Rs 10,00,000. Upon purchase of this child plan, the annual premium payment was Rs 52,000 for next 18 years. The returns will be affected at the end of 18th year, 19th, 20th, 21st, […]

Everything About Insurance Planning

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Insurance planning is essential. It helps people to manage the potential risk that may come in future. The probability of occurrence of such a risk is bleak, but if it comes it has a high cost implication. This is why it is better to plan from a very early stage. What risks we are talking […]

Know About Term Insurance Plan in India

Know About Term Insurance Plan in India -image

One day I was discussing with my friend about term insurance plans in India. Our thoughts were so different about the term plan that we nearly had a tiny fight. But the end was meaningful. Both of us agreed on a point with a conclusive evidence. No financial plan can be complete without inclusion of […]