A few days back, I came across a shocking instance of wrongful termination of health cover by a leading private insurance company. I consider this wrongful termination of the coverage based on the events that have unfolded before me. In light of greater information, I may change my opinion. However, at the moment, I do believe the insurance company is at fault in this … [Read more...] about How Apollo Munich Health Insurance tricked my client?
Many of us realize that investments and insurance shouldn’t be mixed. You will get low life cover and poor returns, especially with traditional life insurance plans. If you are young and make such mistakes, you still have time to make up for such mistakes. However, if you are retired or closer to your retirement, the hit to your finances will be much bigger. It is not just … [Read more...] about You may not need Life Insurance during Retirement
While everyone complains of tricks played by insurance companies or its agent during the sale of life and health insurance plans, we do not hear (or at least I haven’t heard) about similar things during sale of motor insurance. Well, motor insurance has its own set of tricks. For instance, nobody wants to sell third party insurance. If you call customer care, they will … [Read more...] about You Do NOT have to rush to renew your car insurance by March 31
A Participating life insurance plan, as the name suggests, participates in the profits of the insurance company. So, if you hear about simple reversionary bonuses, final additional bonus, and loyalty additions, you are most likely looking at a participating plan. LIC New Jeevan Anand is a Participating, non-linked life insurance plan. Clearly, the benefits are not guaranteed … [Read more...] about PFP Primer: Participating and Non-Participating Life Insurance Policies
Recently, I watched an advertisement by a leading insurance company where the company offered to provide emotional counseling and financial planning services to the family member in the event of demise of the policy holder. You can watch the ad on Youtube. By the way, contrary to the impression you may get, the services do not come free of cost. Now, the pertinent … [Read more...] about If Insurance Companies were to offer Financial Planning?