Ask Us: Express Insurance

The earlier you take life insurance,the cheaper it will be. The only possible change would be the name of the nominee. After marriage you may want to change the name of the nominee to your wife. Change in the nominee name can be done any time during the term of the policy. As for the type of insurance plan,you should start by taking a simple term plan for the highest possible sum assured. You may also want to take a health insurance policy which will cover the cost of most of the medical expenses. Once that is done,you can plan your future investments accordingly. To suggest a complete plan you would need the help of a financial advisor.

I have a health insurance plan provided by my company. Should I buy another health insurance plan?

Sudha Nair,Mumbai

It is always advisable to have a health insurance policy by yourself. The policy provided by the company will last only as long as you are working for that company. If you dont see yourself shifting jobs or the threat of losing your job,the company policy will suffice though.

My parents are 60 and 54 years old. Will any insurance company provide life insurance policy to them?

Monica Luthra,New Delhi

Your parents can definitely be covered by most public sector insurance companies and a host of private insurance players also. Severalinsurance companies provide coverage till the age of 65.

My wife is pregnant. Is there an insurance policy which will cover these expenses?

Sudesh Mulchandani,Bhopal

Insurance policies are there to protect you from unplanned emergencies. So not many companies will provide medical cover for the same. However there are a few insurance companies which cover the expenses after 2 to 4 years of taking the policy for the first time.

Expert is CEO,MyInsuranceClub.com,For your personal finance queries mail us at expressmoneyexpressindia.com