CASE STUDIES – INSURANCE

Case Study-1: Krishna living in Mumbai is looking for a health insurance product as he wants to increase the coverage for him and his family. Krishna already has 500,000 rupees of health insurance from his employer and is now looking for a top-up or super top-up policy. You have suggested him either top-up or super top up of Rs. 10 Lac. Help Krishna in answering his below queries:

Question 1 : If Krishna has first claim of Rs. 4 Lac and then second claim of Rs. 3 Lac, what will be the claim paid in Second claim in Top- Up policy?

Question 2: If Krishna has the first claim of Rs. 4 lac and then a second claim of Rs. 3 Lac, what will be the claim paid in the Second claim in Super Top-Up Policy?

Question 3: Krishna wants to know as the base policy has a deductible of Rs. 5,000 and Co-Pay of 10%, what will be the claim amount paid if there is a claim of whole Rs. 5 Lac?

Question 4: Krishna wants to know in case he buys another Rs. 5 Lac of policy individually instead of super top-up what shall be the priority of filing the claim in terms of an insurer?

Case Study 2: Dhanush is a 35-year-young married, single-income family with two school-going kids and having no insurance as of now. Dhanush is having an annual income of Rs. 10 Lac. Dhanush will retire at the age of 60 years. He is expecting a salary increment of 6%. The expected discount rate is 10%. Dhanush has no house.
Question 1: What can be the Model Portfolio for Dhanush at this age and life cycle?

Question 2: What should be the Human Life Value of Dhanush as per his income?

Question 3: Which is not a Non-Life Insurance Product?

Question 4: What should be the right order of insurance requirements for Dhanush?

Case Study 3: Sandesh is living in Mumbai in a rented house & married for 2 years. He has not any immediate funds and has a Health insurance policy given by his employer. He has some small life insurance policies from various life insurance providers. His wife is a housewife and they are planning a baby soon. Which is the insurance policy he need immediately? (Question 1)

Question 2: What are the insurance policies he doesn’t need to buy immediately?

Question 3: What should be his priority as per Financial Planning ?

Question 4: Someone suggested Sandesh to buy Endowment Policy. What can be the Limitation of an endowment Policy?