Last month we launched NaviPlan: A Privacy-Focused Multi-asset Tracker and Goal Planner. This tool, developed by Gokul of Naviran Technologies in association with freefincal, can be used to track mutual funds, stocks, and FDs. The user can tag these to financial goals and track their progress. The tool also provides options to lower risk via…
Continue reading →In this article, Somaprasad S H, a senior insurance advisor explains with two real-life examples, how temporary total disablement claims in personal accident insurance work. He sent us this article after reading Buying Accident Insurance Policies in India: Must-know facts. Your article “Buying Accident Insurance Policies in India: Must-Know Facts” is a valuable resource — particularly…
Continue reading →Every strong house needs a foundation before you decorate the rooms. In money, that foundation is just two things: term insurance and health insurance. They quietly hold up everything else. But here is the strange part. Nearly half of Indians still do not have term insurance, and most who have health cover have too little….
Continue reading →A reader says, “I’ve been a reader of freefincal for the last few years, I really like your work. I have a generic question about health insurance for senior citizens, if you could write a post about it, it would be very helpful”. “My question is as follows – For senior citizens, if the premium…
Continue reading →Imagine you or a family member gets hospitalised. The disease for which you have been diagnosed is covered under your policy; you should also get this double-checked with the insurer. Your room rent limit is INR 10,000, and you take an INR 8,000 bed. Your overall policy coverage is INR 20 lakhs, and your final…
Continue reading →Imagine you have persistent chest pain. You have two options: Option A: You visit a cardiologist. You pay a consultation fee of ₹1,500. He runs tests, asks uncomfortable questions about your diet and exercise, and gives you a boring, difficult lifestyle plan to follow for the next 20 years. Option B: Your friendly neighbourhood Uncle…
Continue reading →My friend thought I had just told him to commit financial suicide. “You want me to… cancel it?” he asked, clutching his premium receipt like a holy relic. I nodded. For the last 15 years, this guy has been dutifully paying for a massive life insurance policy, convinced that stopping would be a betrayal of…
Continue reading →In India, buying a traditional life insurance policy is almost a family tradition. It is often the first thing people buy when they start a job. But recently, you might have heard a lot of noise from financial experts or friends. They keep saying, “Why are you keeping that old policy? Surrender (close) it immediately…
Continue reading →After reading the details of our family’s health insurance policy – Why we purchased the United India Super Top Up Policy with 95 lakhs sum insured – a reader wanted to know, “if it makes sense for him to buy a 25 Lakh base health insurance policy?” We have a Rs. 25 lakh individual cover from…
Continue reading →My health insurance with United India usually gets renewed in September each year, a good month before the renewal date. This year, the agent asked me to wait until September 22nd, when the premium will be free of GST. I thought I would document the costs. I do not claim that my insurer is the best…
Continue reading →A reader suggested we write an article about combining base and super top-up health insurance policies — a discussion. First, let us point out some helpful resources for those looking to understand more about health insurance and how to buy one: Select the right health insurance policy with these free resources FAQ: Super Top up…
Continue reading →Super top-up health insurance is designed to cover medical expenses that exceed a certain limit the d. Given the continuous rise in medical costs and the complexity of medical tests and procedures today, having extensive medical insurance coverage is crucial. However, while purchasing super top-up insurance is necessary, buyers must be aware of an important…
Continue reading →A reader asks, “Would you please suggest how one can manage financially if one is not eligible for health insurance due to pre-existing diseases for younger folks? Medical expenses are an inevitability. How do we plan for that as best as we can?” Most private health insurers today are unlikely to accept the risk of…
Continue reading →Here is a list of steps to consider if your health insurance claim is rejected. For a rea-life experience see: How I used Bima Lokpal to contest my health insurance claim rejection and won 1. Do not let anger and emotions cloud your judgment. Take some time to read and re-read the claim repudiation letter. Find…
Continue reading →In this article, we answer some questions on health insurance asked by listeners of the “Let’s Get Rich with Pattu” podcast. These are also FAQs that we receive from time to time from our readers. Q: This concerns the medical Insurance episode on Let’s Get Rich with Pattu. I’m a private sector employee and have…
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