DEEPAK YOHANNAN
Why can your insurance claim get rejected & how to avoid it?
All health insurance policies have a life-long renewal clause which the regulator has mandated. They cannot be rejected and your pricing cannot go up purely because you have a condition right now. So, certain benefits are inbuilt and benefits that the customer can take, says Deepak Yohannan, CEO, MIC Insurance Web Aggregator
Is this the time to look at endowment plans? Deepak Yohannan answers
Endowment plans are a safe mode of investment for individuals who are willing to stay invested for long periods of 12 to 13 years and seek guaranteed returns. Such plans offer returns of up to 6.75%, which, when compared with debt mutual funds and FDs, are relatively higher as the latter are taxed at the individual's income tax slab rate, bringing down the returns to 5%. Additionally, endowment plans are completely tax-free if the collective annual premiums are not greater than Rs 5 lakh.
How senior citizens aged over 65 years can get optimal health insurance at reasonable cost
The new plan, Arogya Sanjeevani Policy, will not serve the purpose of those above the age of 65 or those who need a larger insurance cover. The cover is capped at Rs 5 lakh. Thus, it’s time to explore some options.
Deferred payout from insurance plans is tax free: Should you invest in these plans?
Though deferred insurance payout plans are tax-free, investors should consider several other factors before investing in them.
Unwanted endowment policy: Should you surrender or convert to paid-up?
With tax-saving deadline bearing down on investors and offers of insurance-cum-investment policies pouring in, most buy traditional endowment plans.
Here's what to do with an endowment policy that is proving to be a drain
With the tax-saving deadline bearing down on them and offers of insurance-cum-investment policies pouring in, most investors succumb and buy traditional endowment plans.
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Why you should get a standalone cancer insurance plan
Imagine a life where you are completely dependent on others and are no longer capable of providing financial or emotional support to your family.
Should you buy annuities when rates are high? These 6 factors will help you decide
Insurance companies usually review their annuity rates on a monthly basis, so the reduction may happen at the beginning of next month.
What to consider before buying medical cover
There are also different varieties of critical illness covers available. So, should you choose a broader plan, or one that is specific to a few diseases?
Why term insurance with lump-sum payout is better option if you can manage the money
If the beneficiaries of the term insurance policy are financialy literate, lump sum payout plans offer greater rewards.
Don’t get lured by discounted offers on car insurance; Here's why you need to be cautious
Don’t get lured by discounted offers. Agents manipulate the policy features to make the price look attractive. Look under the hood before you buy.
Financial planning for a special child should be long term
Millions of children in India live with disabilities. Parents of children with special needs have to plan their finances carefully to secure their child’s future.
How to plan finances for a child with special needs
As Autism Day approaches, ET tells parents how to manage their finances to take care of their offspring with disability.
Smoking is no reason to give health insurance a miss
Smoking or pre-existing ailments don’t automatically disqualify you from getting a health cover. Companies take a more nuanced position while examining such applications.
Family floaters may be cheap, but are not always enough
According to insurance experts, these individuals are taking a calculated risk as they assume that all members of the family may not require hospitalisation or make claims in a particular year.
Hike in third-party's insurance premium not reason enough to change course
Irda issued a circular last week spelling out the quantum of hike applicable to private cars, two-wheelers and commercial vehicles for 2014-15.
Policies that changed the business of insurance: How 2014 will pan out?
The year 2013 was an action-packed one for the insurance industry, marked by a string of regulations and innovations.
Sceptical about online insurance plans? Here's why they are safe
Covering your life has never been so affordable. The entry of low-cost online term plans means that a 30-year-old man can buy a cover of Rs 1 crore for as little as Rs 20-30 a day.
Delhi High Court notice to Google, Facebook on church's plea
The Delhi High Court today sought the replies of various social networking sites including Google and Facebook to a plea for removal of "defamatory and derogatory" articles against a church and an NGO from their sites.
Hiding vital facts while buying insurance? Claims may be rejected
If you submit incorrect information or hide key facts, you may get a low premium, but it could lead to rejection of claim. Find out how to risk-proof your insurance claim.
ET Wealth: Are Ulips better investment now?
After the removal of several of their shortcomings, Ulips offer a good investment opportunity. Here’s what to watch for while buying one.
MyInsuranceClub.com becomes first aggregator site to bag IRDA approval
MyInsuranceClub.com has become the first aggregator site to get approval from the Insurance Regulatory & Development Authority of India.
Are you buying insurance bundled with other products or services?
Irda has expressed concerns that bundling forces consumers to buy products they don't want & allows dealers to push policies that earn them better commissions.
Single premium plans cost more
Now, Irda has trained its guns on the single premium plans. Here’s what you should know while buying such policies.
5 mistakes to avoid while buying online insurance
Online plans offer convenience. If you too have doubts, consider the following points and ensure that your online ride is smooth
Can Irda's new rules prevent mis-selling?
The stiff guidelines for insurance portals are meant to prevent them from pushing products on behalf of insurers. Find out how these are likely to impact you.
Online aggregators to make insurance easier for you
Consumers are set to benefit as Irda’s draft guidelines for insurance websites assure more accurate information and restrict the use of clients’ personal details.
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