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I am working in the power sector. Will a life insurance plan cover nuclear risk? Do I have to state my profession while buying the policy? – Gireesh Kumar

It is very important to reveal one’s profession and related details at the time of purchasing a policy, as crucial information not declared at the onset of the policy could lead to denial of the claim. Furthermore, basis the information, the insurance company will assess the risk and provide you with the solution on buying the policy.

I am applying for a home loan and the company is asking me to buy life insurance from their partner. They are asking me to pay the entire premium at one go. I don’t mind buying the insurance, but I cannot afford to pay the entire premium at one go. And what if I pre-pay the loan? What should I do? – Kaushik R M

I urge you to consider buying an insurance policy with your loan application. Considering you’re adding a liability to your portfolio, insurance is necessary to protect your family from any financial strain of repayment in case of an unfortunate situation. I would recommend you speak to the company concerned to find a solution to your problem regarding paying the premium at one go.

The expert is MD & CEO, Edelweiss Tokio Life Insurance

Clear your doubts with regard to life insurance. Send your queries to personalfinance@dnaindia.net

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