Tuesday, October 24, 2017

ASK

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

ASK

If a policyholder becomes insolvent, is there any way he can protect the policy?

There are possibilities that it can be attached in the event of insolvency of the insured

ASK

Do health insurance policies cover plastic surgery?

Health insurance policies do not cover expenses arising out of elective, cosmetic, or plastic surgery

ASK

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

ASK

What is the most hassle-free way to deposit life cover premiums on time?

The easiest way in which you can pay the premium is through online banking

ASK

What are the risks with the investment in a growth option of units of Ulip?

You must bear in mind that the past performance of the fund is not necessarily indicative of the future performance

ASK

Can a life cover work as a collateral security for a loan?

Collateral security only helps in securing the loan and is usually not considered for determining the loan amount

ASK

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

ASK

Can I make the payment now as I missed the last premium of life policy?

It will depend on the time period that has lapsed since you last paid your premium due

ASK

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