With schools set to close soon due to summer holidays, a large number of people will seek the relief of salubrious climates abroad. And it is always good to have a comprehensive insurance cover against all contingencies.
But, before you buy the insurance cover, it is important to read the fine print, lest you might be left in a soup like 60-year-old G Srinivasan, who had gone to the United States for his daughter's graduation in 2015. The management consultant from Bengaluru suffered a heart attack while driving from Chicago to Michigan. Even though he had acomprehensive cover of $500,000, he realised later that the policy had sub-limits for people over 56. His limit was only $30,000.
India's wealthy opt for term insurance policies worth Rs 5-20 crore: Report
Read More