[Exclusive] Ask me Anything with Myinsuranceclub

@Spock wrote:

@punitdd http://www.desidime.com/forums/dost-and-dimes/t... I hope you see this timely.

I am sure this is just a marketing stunt by both Co.,they will ultimately guide/misguide us to buy some random policy through them .these so called experts are no other than so called insurance advisors/agents/executives/sales team.

.

Is the AMA live now? If yes, I can already see some queries which are yet to be answered. Example: http://www.desidime.com/forums/dost-and-dimes/t...

Term plan is availed as a tool for family’s income security. To start with, you should avail a cover equal to 20 times your current annual income. For example, if the annual income is 5 lacs then avail a term cover of 1 crore. Then choose a policy term which covers you up to the age of 65 (retirement age).

All insurance companies are regulated by IRDAI (insurance regulator). Both LIC and private life insurers offer good products and service. However, online term plans of private insurers are more popular.

You can visit this page http://www.myinsuranceclub.com/life-insurance/t...
Enter your details and see some of the popular options of available term plans

Hey

so, where to ask queries?

@harpy.eagle wrote:

so, where to ask queries?

you can ask it here itself

You can visit on the below link and renew your two-wheeler insurance instantly.
http://www.myinsuranceclub.com/two-w...er

Your premiums (assuming a 20% NCB) should range between Rs.850/- to Rs.1,100/- annually.

Moreover, many insurance companies allow renewing your two-wheeler insurance up to 3 days after the policy has expired.

Guys, get your answers. The AMA is live now.

@rossonero asked http://www.desidime.com/forums/dost-and-dimes/t.... Answered above http://www.desidime.com/forums/dost-and-dimes/t...

@RichSoul asked http://www.desidime.com/forums/dost-and-dimes/t...

Hey Guys! Its live!

You can ask questions about anything related to insurance – life or general (non-life).
Health insurance is one of the most popular types of general insurance in the market.
There are already 5 standalone health insurance companies in India.

Visit the Health Insurance Premium Calculator for real-time quotes and instant policy issuance.
http://www.myinsuranceclub.com/health-ins...ce

@dhinchakrohit wrote:

I am looking for a term insurance of R1 crore. This is 10 times my yearly take home. I need advice on which is the best available term plan in the market which covers all the risks and has credible and hassle-free claim settlement. The policy should cover death by all scenarios including natural disaster (flood, tsunami, earthquake terrorist attack, riots, etc.
If it gives returns, would be great..

Please tag me while replying.

Taking a sum assured = 10 times of annual income is fine.
All life insurance companies are good and all their plans are approved by the insurance regulator.
Some of the popular plans in the market are HDFC Life Click2Protect Plus, Max Life Online Term Plan, ICICI Pru iProtect Smart.
All term plans cover all types of death.
Term plans are structure as pure protection plans and hence they are priced really low. That is the reason they do not offer any returns if the policyholder is alive at the end of the policy term.

@gambitrite wrote:

@Paisa_de wrote:

@gambitrite wrote:

Is this only regarding General life insurance? What about health insurance? Any links or details…..

yes serially need to understand this crappy health insurance system. so many variables in each plan

Do you have a health insurance plan? Any suggestions?

Every general / health insurance company has several health plans to offer. You have to go through the benefits and premiums to understand which plan suits your needs. For example, people in age group of 55 to 65 can look at senior citizen health insurance plans.

@dd2014 wrote:

@Paisa_de wrote:

@gambitrite wrote:

Is this only regarding General life insurance? What about health insurance? Any links or details…..

yes serially need to understand this crappy health insurance system. so many variables in each plan

i am too seeing health insurance for my family which has cashless facility or best TPA for approvel of claims.

Almost all health insurance plans in the market offer cashless facility. So you need not worry about that.
What is important is the amount of cover you have taken. Ideally every person should avail a minimum cover of 5 lacs.
And for a family of 3, a cover of 10 lacs should suffice.

what is better and why ?

a base 10 lac health policy
or
a super-top-up health policy with 3 lac deductible and upto 7 lac coverage.

Edit: Super-top-up plans of 7 lac coverage with deductible is much cheaper then then comprehensive 10 lac policy. then what option is better between two.

I shifted into a new house and bought many expensive items a few days back. How should I assess the value of my belongings for a householder’s insurance plan?

@punitdd wrote:

what is better and why ?

a base 10 lac health policy
or
a super-top-up health policy with 3 lac deductible and upto 7 lac coverage.

A base policy is a must. So instead of a base 10 lac policy you may keep a base policy of 3 to 5 lac.
Add to it a super top up of 10 lac with (3 or 5 lac deductible).
This comes handy in saving premiums for a young family with no current or past medical conditions.

But for a person above the age of 45, I would say a base 10 lac policy. Here the frequency of claims expected are higher. And the last thing one wants to do is get confused in the fine print of multiple policies.

@unitedrooney wrote:

I shifted into a new house and bought many expensive items a few days back. How should I assess the value of my belongings for a householder’s insurance plan?

If you have the bills then adding up the cost of belongings is easier. Otherwise, calculate the amount on estimates. Insurance companies do not ask for exact bill amount or purchase value. A slight deviation should be fine. But be careful not to inflate the costs too much.

Best way of investment????

@rajasekharstrikes wrote:

Best way of investment????

There are several options to invest your money

For Guaranteed Returns
PPF
Endowment Insurance
Bank Fixed Deposits

For Market-linked returns (moderate to high risk)
ULIPs
Mutual Funds
Stocks

If I buy a new car, can I transfer my current car insurance policy over to the new car?

@DealSeeker wrote:

Guys, get your answers. The AMA is live now.

@rossonero asked http://www.desidime.com/forums/dost-and-dimes/t.... Answered above http://www.desidime.com/forums/dost-and-dimes/t...

@RichSoul asked http://www.desidime.com/forums/dost-and-dimes/t...

---

@bumblefoot Please teach the rep from MyInsuranceClub how to quote posts so the user who asked the question could get notified and, more importantly, so others could understand the context of the information. CC @myinsuranceclub

Noted
Thanks

I am a 22 year old, just started a new job, what insurance policies should I invest in??

Okay. I shall post here itself. I need insurance for hero honda splendor bought in 1998 (fitness certificate or rc whatever procedure it needs after 15 yrs, is done) with old insurance expired.

Bike condition is very good. Can i get comprehensive insurance or it? If i can get only 3rd party insurance, can i get it online which can be worked out faster?

I kinda need urgent answer if u are following in reatime. Otherwise i am going to national insurance office in few mins.

Tks.

@desidealbaba wrote:

If I buy a new car, can I transfer my current car insurance policy over to the new car?

No
But you can transfer your NCB (No claim bonus) from old car to new car.

Every time you DO NOT MAKE A CLAIM in your insurance policy you are awarded a no claim bonus (NCB). This bonus or discount is applied at the time of renewal. So if you have a NCB on your existing policy (say 35%) then you can transfer this to your new car and earn a discount in the insurance premium of new car. Note – The discount can be used in 1 car only at a time and it will become 0% at the time of renewal if you make a claim.

my age is 27. I want to invest in life insurance product to save my tax as well as to earn good income. So please advise some of good insurance products.

@Sir Ryan wrote:

I am a 22 year old, just started a new job, what insurance policies should I invest in??

When you say “Invest” you are referring to “Savings” and not “Protection”
At age 22 you can take a “Term Insurance” which is a pure protection plan. The premiums will be really low.

You can also buy a health insurance policy for yourself + family.
Again premiums will be low for lower age groups.

If you want to invest then I suggest look at PPF and 5-year Bank Fixed Deposits for now.

@harpy.eagle wrote:

Okay. I shall post here itself. I need insurance for hero honda splendor bought in 1998 (fitness certificate or rc whatever procedure it needs after 15 yrs, is done) with old insurance expired.

Bike condition is very good. Can i get comprehensive insurance or it? If i can get only 3rd party insurance, can i get it online which can be worked out faster?

I kinda need urgent answer if u are following in reatime. Otherwise i am going to national insurance office in few mins.

Tks.

Buying a Comprehensive insurance online for a 1998 mfg two-wheeler is going to be difficult.
It is better you go to the National Insurance office.

@ssmaikap wrote:

my age is 27. I want to invest in life insurance product to save my tax as well as to earn good income. So please advise some of good insurance products.

Look at some endowment insurance plans (if you do not want to take any risk and want guaranteed returns)

Or else if you are okay with some investment risk then you can evaluate ULIPs.

Popular ULIPs are HDFC Life Click2Invest and Reliance Life Classic 2

can you suggest me some high return investment options. I know risk will be high but its ok.