COMMUNITY FORUM: CREDIBLE INDUSTRY EXPERTS ANSWER YOUR INSURANCE QUERIES

Since I am new to beshak, after connecting with beshak experts is this compulsory to buy any plan? Or any hidden charges applied

Hello, 

I have bought a second hand vehicle in the previous month which already has a pre existing motor insurance policy from ICICI Lombard

I raised request to the company that since RC records have been updated, kindly proceed to transfer insurance in my name. 

In reply, the company is asking me to pay an exorbitant amount of Rs. 1264 without any basis for the charges.

I checked on IRDA website and it says that a nominal fee (if any) is to be paid for transferring insurance to a new buyer.

There is no basis provided nor any detail is mentioned on the company website as to how the amount is arrived at.

Kindly advise on the same as to how I should proceed further.

Facts:

My DOB: August, 1978 (Still not 45 yrs of age)

My Wife DOB: April, 1976 (~ 47 yrs old)

Son DOB: February, 2005 (>18 yrs old)

Daughter DOB: March, 2012 (~11 yrs old)

Me and my wife have Bajaj Allianz term insurance policy of 1 cr each. I additionally, have 50 lacs PLI.

We also have a family floater heath insurance 50 lacs SI that has become 1 cr now

Questions:

I need to enhance my term insurance by 50 lacs and my wife term insurance by 1 cr.

I do not know if getting term insurance for children is a right thing or not? And, if yes, what shall be the amount?

Me and my wife want to get critical illness insurance for 50 lacs.

I do not know if getting critical illness insurance for children is a right thing or not? And, if yes, what shall be the amount?

Me and my wife want to get accidental disability insurance for 50 lacs.

I do not know if getting accidental disability insurance for children is a right thing or not? And, if yes, what shall be the amount?

Me and my wife want to get cancer lumpsum critical illness type of insurance for 50 lacs.

I do not know if getting cancer lumpsum critical illness type insurance for children is a right thing or not? And, if yes, what shall be the amount?

Can these all be clubbed? Can a family floater type of insurance happen with the above requirement for all? Or, do I have to take individual insurance separately for all 4?

I'm thinking about buying term insurance and I came to know about something called a critical illness rider.

So my doubt is

If I add the critical illness rider to my term insurance and I get one of the listed illnesses and make a claim, can I still make a claim for a critical illness if I get a different one later?

Also if I opt for standalone critical illness insurence is it possible to claim again once we claim it for any of the illness previously ?

Hi Team, I’m looking for an insurance which provides combination of both Term and Health Insurance for myself and family (including Parents). Please advise. Thanks!

Regards,

Sahul

I have a personal loan of 3L of 2 years with 11.5% interest and I have 1.5L in hand. Should I be thinking of investing 1.5L or pay off my personal loan?

While purchasing a 2W previous year, the showroom people arranged a bike insurance with premium of 6K with (Basic Third party Liability & PA for Owner-Driver of Rs 15 Lakhs ). Now after an year, while renewing the policy, I am unable to see the BTPL and PA this time. Can someone explain this method of insruance.

Govt describes a limit of 5 lakh yearly premium for tax-free maturity on traditional insurance.

Is health Insurance & term insurance are under traditional insurance?

and which insurance is under Traditional Insurance?

A cyber insurance policy covers businesses from any financial loss that may arise due to cyber crimes, online data breaches, malware, ransomware, and other digital risks. This policy offers overall protection to your business from data losses, unauthorized access, and various costs such as forensic costs, PR costs when any data breach occurs in your system.

Can any expert give more information?