Can an insurance company refuse to make payment of insurance proceeds?
Under some exceptional circumstances they may refuse the payment of policy proceeds
Can a cheque drawn in favour of guardian be deposited in minor’s account?
Yes, most banks would accept cheques issued in the name of the guardian as well
Can a creditor in case of repayment of debts attach policies issued under MWPA?
A policy bought under the MWPA becomes the absolute property of the married woman and works like an assignment
Should I go for a term insurance with benefits or one without the benefits?
A term insurance policy that does not give profits is also known as a pure risk insurance policy
How can I use the sale proceeds in a tax efficient manner?
The sale proceeds of a house attract capital gains tax, which is the tax that you need to pay on the gains
Is it true that no policy covers 100 per cent of the sum insured?
Every policy specifies the exclusion clauses, which state the specific hospitalisation expenses that are excluded
My father died of a massive stroke. Will the insurer still pay the claim?
You should make a representation with the insurer about the circumstances under which the premiums were not paid
Why does a health insurance exclude pre-existing diseases from the coverage?
Pre-existing diseases are usually not covered in the year the policy is first bought
Will a householder’s policy cover the floor used for commercial purpose?
A householder’s policy can be bought only when it is used for residential purposes and not for commercial purposes
Do health insurance policies cover plastic surgery?
Health insurance policies do not cover expenses arising out of elective, cosmetic, or plastic surgery
On Stands Now
What should I do if I have paid the premium, but did not receive the policy?
What are the conditions for grant of critical illness insurance cover?
Does one get the premiums paid towards a term plan back upon maturity?
What should I do if the policy I received is different from what I opted for?
I am a bachelor with an annual income of Rs 4.6 lakh. Suggest some life covers.
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