Q&A: Insurance

Our expert Pankaj Mathpal, CFP & Managing Director, Optima Money Managers guides you in matters relating to insurance.

Surrender Value

I am paying 2 lack per year as insurance premium. My fund value is still negative. If I surrender now, then the initial amount of 2 lakh would be forfeited. Is there any way to get the surrender value, inclusive of the initial premium?

D Banerjee

I recommend you paying the subsequent premiums for minimum premium paying term under your insurance policy and then you can surrender your policy or convert it to a fully paid-up policy depending on the fund value.

Health Cover for Family

I am a 27-year old working professional in Delhi. I recently got married and now planning to buy a joint health policy for a sum insured of 3 lakh (approx). Also, we will be planning our family in the next two years. Is there any policy which provides maternity benefits (as per my planning) and also comprehensively medical cover?

Harpreet Singh Narang

You can consider Apollo Munich- Easy Health-Exclusive or Max Bupa- Heart Beat Plan. Both of these plans offer maternity cover but this benefit is only available to you after you have paid continues three and four premiums under the respective plans.