While proposals for covers in volatile markets aren't denied, premiums are much higher - by as much as 100-600%
Threats from IS militants, the Syrian conflict and the migrant crisis in Europe are some of the recent risks that have companies worried, says M Saraswathy.
If you quit or change jobs in your 40s, buying an individual term plan will be expensive. You might not even get one if you have health problems, says Priya Nair
If you contract a disease a few years after buying a health cover, disclosure isn't mandatory. But if you want to increase the sum assured, premiums could go up.
After the Delhi high court's ruling, blanket exclusion of genetic disorders from coverage is likely to become a thing of the past.
While buying health policies, customers should reveal any pre-existing diseases. This is the only way to ensure that the insurer does not reject claims.
Don't go for family floater plans; though convenient they cost you more.
A sum insured of Rs 3 lakh to Rs 5 lakh may have been sufficient seven-eight years ago but would be inadequate today, especially for people living in metros, points out Sanjay Kumar Singh.
A number of insurers offer health policies designed especially for senior citizens.
Customers should be fully aware of what their policy covers and should follow claim procedures meticulously, says Sanjay Kumar Singh.
Three key instruments that can help you meet your financial goals, while also allowing you to enjoy tax deductions are ELSS, term cover and health cover.
As protectionism grows from the United States to Australia, Sanjay Kumar Singh draws up a comprehensive financial checklist for those shifting to India.
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