Best Insurance Guide Ever! Health, Term & Hidden Riders Explained
Published: 2025-03-29
Status:
Analyzed
Published: 2025-03-29
Status:
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Speaker's son, Aryaman, who is currently 13, is predicted to incur ₹1 crore in education costs over the next 8-9 years if he studies internationally.
"for my son Arya, today it is 13. The amount of money I have to pay for his education in the next eight to nine years is my liability. So, to put it ball park, let's say Aryaman's education will cost me ₹1 crore if he goes international to study."
Pending
Hospital room costs for parents aged 65-75 are predicted to rise from ₹7,500-₹8,000 today to ₹13,000-₹15,000 in the future.
"when your parents cross 65, 70, 75, by then these rooms which are available today for Rs. 7500, 8000, will cost Rs. 13, 14000, 15000."
Pending
Life insurance claims will be declined if a policyholder travels to a 'negative place' like Moldova (next to Ukraine) and fails to disclose a history of travel to Ukraine, as passport details will be checked during the claim process.
"if you go to Ukraine, you did not go to Ukraine, you went to Moldova next to Ukraine and something happened to you in Moldova and if they find out from your history that you used to go to Ukraine, because they are going to fetch your passport details at that point in time, they will decline the claim because Ukraine as of now is a negative place."
Pending
With a ₹1 crore term insurance and ₹50 lakh accidental rider, death by accident will result in a ₹1.5 crore payout. Permanent disability leading to income loss will yield an additional ₹50 lakh. Partial disability (e.g., loss of a finger or eye) will result in a partial payout from the accidental rider.
"if I took a term insurance of 1 crore and on top of that I took an accidental rider of 50 lakhs, if I die due to an accident then I will get even one and that 50, then I will get 1.5 crores, if I get a permanent disability due to which my income generating ability is lost then also I will get that 50 lakhs additional, if I have not died then I will not get that 1 crore for the death cover that I have taken, if I have a partial disability then I will get half the money, even if one of my fingers gets cut Even if one of my eyes gets damaged, I will still get some money."
Pending
Critical illness riders taken with term insurance policies are predicted to cease coverage at ages 65-70.
"The rider that you have taken with term insurance will cease at 6570."
Pending
If minor non-disclosures (e.g., weight, small health issues like cancer) are made and not discovered within one year of policy inception, the insurance company will likely not reject the claim, allowing such 'jugaadu' (hack) practices to succeed.
"after a year they are not going to come back on the claim. Crazy fraud. Non-disclosure. I had cancer and I hid these small things. I had a little bit of weight. I did not tell some plus or minus. They can't really do anything on the claim. That's why maybe this jugaadu (jugaadu) thing slides in."
Pending
If a policyholder with a pre-existing condition like diabetes seeks treatment before the 3-year waiting period is over, the health insurance policy will not cover the treatment costs related to that condition.
"When I am going through any problem, I already have a health condition... When they examine me, they say that you have diabetes, yes I have diabetes. For how many years? Sir, this will not be covered in the policy, so it gets covered after 3 years."
Pending
With a No Claim Bonus rider, a ₹10 lakh health insurance cover will increase by 100% annually (e.g., to ₹20 lakh, ₹30 lakh, ₹40 lakh, ₹50 lakh) if no claims are made, eventually reaching ₹50 lakh, ₹60 lakh, or ₹70 lakh as the policyholder ages.
"Your cover will increase by 100% every year. Now increasing the cover by 100% means next year it will be ₹20, then ₹30, then ₹40, then ₹50. ... If you are not taking a claim, then it will reach ₹50 lakh, ₹60 lakh, ₹70 lakh."
Pending
By taking 'Insta cover' riders for conditions like thyroid, hypertension, sugar, and asthma, policyholders will receive coverage for these problems within 30 days of policy inception, with no waiting periods.
"If you take riders to cover these things [Thyroid, hypertension, sugar and asthma], because of taking riders, they are called Insta cover riders. Because of that, there will be no waiting periods and after taking the policy within 30 days, you will get cover for all these problems as well."
Pending
If there is a significant age gap between spouses, taking separate health insurance policies will be more cost-effective than a floater policy, as the premium will be higher due to the older spouse's age.
"If the age gap is more, then my premium will be higher. Because I am 65, my wife's premium will be less, so if the age gap is more, then you should take separate policies, it will be more cost effective for you or me."
Pending
Children are required to exit their parents' floater health insurance policy once they turn 24 (or 22/26 depending on the policy), necessitating them to obtain their own separate policy as their dependency is considered over.
"the moment your kid turns 24, he has to be out of your floater policy... he has to exit the policy, the entire mathematics being that dependency is over, so now withdraw from your parents' policy and take your own separate policy."
Pending
As India grows and more people move into the lower middle and middle-class segments, the financial burden of the Ayushman Bharat scheme on the Indian government is predicted to gradually decrease.
"As India grows, people here join the lower middle class and middle class segment. So gradually the burden of Ayushman Bharat is going to reduce on India, less on the Indian Government."
Pending
If a car buyer does not present a market quote to the dealer, the dealer is predicted to sell an expensive car insurance policy with a higher commission.
"If you do not do this [give market quote], then assume that he has bought you an expensive policy with a higher commission built in."
Pending
Without a zero depreciation rider, car insurance claims for parts will only cover the depreciated value. With the rider, the policyholder will receive the full value for replacement parts.
"if you have not taken zero depreciation then you will get the money for the depreciation value of that part from the insurance company, if you have taken zero depreciation then you will get the full value"
Pending
An accumulated no-claim bonus (e.g., 50% after 5 years) on an old car can be transferred to the insurance premium of a new car, providing a full discounted value on the new policy.
"If today I have driven a car for 5 years and my no claim bonus on that policy has increased to 50 on that car, then when I am buying a new car, I can transfer this no claim bonus to the insurance premium of my new car and get the full discounted value on the premium."
Pending
Car insurance will not provide coverage if the height of the car is increased through suspension modifications.
"If you increase the height of the car through suspension, then you will not get cover."
Pending
In the event of an impact, bull bars on a car are predicted to prevent airbags from deploying, leading to increased danger for occupants.
"Most of the damage is caused due to bull bars because when there is an impact on the bull bar, the air bags never open in that impact, so you will be inside."
Pending
A personal accident policy is predicted to cover significant health issues resulting from accidents.
"If you have a big health issue due to accidents, then if you have taken a personal accident policy, then that will be covered."
Pending
Travel insurance is predicted to reimburse expenses for missed flights (due to reasons beyond control), provide payouts for health problems (₹0,000) and accidental emergencies (₹0,000) during travel, and compensate for lost (₹1,500-₹3,000) or delayed baggage.
"If you miss the flight, then whatever expenses you had will be reimbursed... If you have any health problem, you get Rs 0,000. If you face any accidental emergency, you get Rs 0,000. If you miss your flight for reasons that were not in your control... you get Rs 0,000. If your baggage is lost, you get around Rs 1,500-3,000. If your baggage is delayed, you get money."
Pending