Personal accident and health insurance are not only great investment options, but are great ways to provide for two risks -- dying too young and living too long!
Which is the best insurance policy to opt for? Is insurance actually a good investment option? Which company provides the best health cover for senior citizens? Which policy should the youth buy?
In an hour-long chat on
rediff.com on Friday, Tata-AIG head honcho
Rajesh Sinha answered to many such readers' queries. Here is the transcript:
Rajesh Sinha says, Hi, everybody. Thanks for your time. I am ready for answers to the best of my capability. However, as you can see i am coming from a general insurance background, i request you to restrict your questions to Accident and Health policies.
ajay asked, I have a 20 lakh accidental insurance from roya sundaram for which i pay Rs.2000 yearly. Is it a good one?If not then pls suggest which you think is best.
Rajesh Sinha answers, at 2007-09-07 14:02:21Hi, you should check whether this covers accidental death and disbility both or just accidental death. if It is death only then, this policy you have is costlier.
rvcat asked, Dear Rajesh Another querry-if a person was a smoker and then quit it is it mandatory or necessary for him to declare that he has smoked?there is a question in most insurance forms on this.regards
Rajesh Sinha answers, it is always best to declare correctly and as close to factual. This helps in claims settlement process.
Balaji asked, Hello Sir, What would be the best Insurance policy that gives best protection against critical illness and Investment point of view. Thanks
Rajesh Sinha answers, Till date there is no such policy which combines the Critical illness protection with an investment plan.
michael asked, I have recently taken family floater gold plan health insurance policy from reliance. Sum assured is 5 lakh and premium paid is rs 7033/-. Please advise if I have taken the right decision. Thank you.
Rajesh Sinha answers, Definately. it is always advisable to have a health cover for your family and loved ones. The earlier you start the better.
Ranjit asked, Dear sir, I want to take insurance policies who are diabetice and are aged around 66 & 61. Whether some health insurance can be taken at this stage and if yes what diseases would be excluded? REgards
Rajesh Sinha answers, There are some general insurance companies in the market,who have started offering diabetic cover also.
rravsh asked, I heard TATA-AIG does not have a mediclaim , as your are afraid of making underwriting losses. Is this true ?
Rajesh Sinha answers, Infact, Tata Aig is coming out with an answer to Mediclaim shortly. Losses is a concern to all companies and they are trying out various issues to contain the losses.
Krishna asked, Dear Rajesh,which is the cheapest and best family floter health insurance plan which covers my parents (55 y and 60 y) and my self (26 y)
Rajesh Sinha answers, most of the polcies have the same price bands, with some minor deviations. You should look at the company's committment to service the claim rather that select the cheapest product always.
Nitin Ahuja asked, any insurance plan which covers pregnancy ?
Rajesh Sinha answers, Unfortunately-non
NABANIT asked, I have medical insurance of 1.5lakh for me and my wife through New India Good health policy.I want to increase the amount to 3.0 each. Should I increase the amount of existing policy should I buy a new policy of different company,then will i get continuation benifit? My wife is sufferring from cancer for last 2 years.I have received reimbursement to the extent my policy value.Is there any provision to get anything from past nonclaimed years or in advance for this deadly disease?
Rajesh Sinha answers, i suggest that you put the extra amount in the same company.at the time of claims, you would have to cordinate with only one company. of course, you need to be clear on the company's service standards and the brand.
nilesh asked, I want to be Insurance agent for TATA AIG, Please guide me, is it good as far as policy & motivation consen.? or I should look for other & what it is ?
Rajesh Sinha answers, you should contact the website / toll free number of the company.
aryaumesh asked, Hi am still waiting for your resoponse on ...what exactly should we look into before taking any policy. Today we have lot of companies offering this.. and which is the best health insurance policy.
Rajesh Sinha answers, The product features, claim servicing track reputation, and of course the price.
sonu_77 asked, Hi Rajesh are you around or already left?
Rajesh Sinha answers, I AM HERE !
GMS asked, I want to buy a health insurance policy for my Father
and Mother. Both are at their 50s. Can you suggest any?