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Melvin Joseph
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Insurance & Life: Purchasing Term policy, Claim Settlement Ratio & Process

Can I purchase Term policy from Private companies? Is it safe? Yes. You can purchase term policy from any life insurance company of your choice whether it is private or government. All companies are controlled by...

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Insurance & Life: Riders, Nomination & Married Women’s Property Act (MWPA)

Avoid riders along with term insurance policies. Most of the insurance companies are offering many riders along with the policy by charging extra premium. A rider is an additional benefit other than the death benefit....

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Insurance & Life: How the insurance company will reject the death claim?

If you are purchasing a life insurance policy without disclosing your actual health conditions/ medical history/ habits like drinking or smoking, there is a possibility of rejection of claim in future. The Concept of Life...

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Insurance & Life: Online Term Policies

Why online Term Policies are available at very low premium? The profile of policy holders opting for online policies is different from the general public. This will ensure lower death rate among these elite clients...

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Insurance & Life: Term Insurance

What is Term Insurance? In this policy, there are no maturity benefits. In simple words, you will not get anything back at the end of the policy. But if you die during the term of the...

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Insurance & Life: Unit Linked Insurance Policies (ULIP)

In ULIP, the insurance company is investing your premium in a mix of equity & debt instruments as per your mandate. ULIP policy can give better returns compared to other types of policies discussed above....

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Insurance- Pension Policies & the changes

IRDAI has made lots of changes in the pension sector in the last 2 decades. But it is still not an attractive product for the investors.  What has changed in these policies in the last...

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Insurance- Child Insurance Plans, Waiver of Future Premium

In children policies, the insurance company will waive the future premium in case of death of the proposer. The child will get all the benefits as planned! This is the sales pitch by insurance companies....

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Insurance: Money back policy & Children Policies

In money back policy, you will be getting certain percentage of the sum assured at different intervals. A typical 20-year money back policy will give you 20% after 5 years, 20% after 10 years, 20%...

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Insurance: Endowment policy, Exit & Who benefits from this policy?

What happens, if you want to exit from endowment policy? Let’s see what happens if you want to get out of the endowment  policy after purchasing this. It is called Surrender. If you have decided...

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Insurance: Savings linked life insurance policy/ Endowment policy

Life insurance companies always innovate and come out with policies with maturity benefits along with a death benefit. Let’s understand endowment policy with an example: If you are aged 35 and purchasing a 20 year...

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Insurance & Life: How much life insurance coverage should one have?

Recently, one of my young friends died due to cancer. Arun was just 35 and was working for a software company in Bangalore. He is survived by his homemaker wife Aarthy aged 30 and 2...