Readers' Corner: General Insurance

My 21-year-old son completed his graduation and has planned to move to New Zealand for two years for further studies. I would like to know what is the difference between travel insurance and a student travel insurance?

Travel insurance is meant for specific travel - usually business or leisure - and for a small and medium duration. Student travel insurance is for a longer term, keeping specific requirements of students travelling abroad in mind. It provides them protection for health, emergency dental treatment, personal liability, sponsors protection, bail bond and tuition fee allowance in specific conditions. In case of emergency, a student will be covered for all the above requirements, along with specific conditions like loss of passport, accidental cover, personal liability, etc.

Last year, during monsoon, I was diagnosed with Chikungunya. At that time I didn’t have health insurance.  I want to take health insurance but I don’t want to go wrong with that. I am 28-year-old. What do you think is the best course of action for me.

With the onset of monsoon, we also see a spread of diseases and Individuals become more susceptible to accidents. While taking proper care and precaution during the rainy season is very important one has to have comprehensive health insurance policy which takes care of expenses incurred as a result of sickness or injury. Some sicknesses/injury could result in expensive hospitalisation which could become a burden on one finances. When you purchase a health insurance policy ensure you have adequate sums insured, minimum waiting periods and minimum sub-limits. While comparing product prices, do compare the detailed product features also.

Last year I was in my Kerala farmhouse with family for a vacation. While we were out exploring the nature, there was burglary happening in my farmhouse. When we came back, all the detachable electronics and silverware was missing. Thankfully, all the valuables were in the locker. I would like to know if home insurance covers burglary? What are the other features of a home insurance policy?

Yes, home insurance will cover this if the same is opted for. Home Insurance has a section covering loss or damage to the Insured premises or contents caused by actual or attempted burglary and theft sections.

Usually, home insurance has the following sections: Fire & allied perils including earthquake, flood, etc; theft and burglary; all risk – jewellery and portable equipment; electronic equipment; machinery breakdown; personal accident; third-party liability; baggage; pedal cycle; ATM cash withdrawal and credit card cover.

My mom, 59, is a government employee who has a health insurance from her employer. It’s a Rs 300,000 cover that includes her, brother, father and me. Given her age and the cover amount, should we buy another separate policy for her or is it possible for her to buy an add-on on that particular health insurance?

Your mother is a government employee, and your entire family is covered under the health insurance scheme of her employer. It is not clear whether the cover is under some group health insurance policy with a commercial insurer or whether it's a captive government scheme. Further, it is not known whether the cover would continue after she retires or would end then. It is essential to have adequate health insurance especially as age increases the options available start reducing. It is advisable to purchase a retail health insurance policy covering the entire family that has adequate sums insured. While choosing a policy, compare its features and prices. Opt for higher sum insured as it becomes challenging to increase the sum insured when age increases above 60 years.

In case you have a lifelong cover under the existing employer/government scheme provided that has a limit of Rs 300,000, you can explore a super top-up cover over this amount which would be more economical.