Yes the helicoil's inside diameter will be the proper size....so yes you'll be drilling and taping a larger hole.
The tab is best broken with a quick blow....you may be able to use needle nose but do not pull on it...just twist it! But you need to do it fast...the kit comes with a punch made for breaking the tab off and if you notice it cones with 3 different lengths of coils so you can use one best suited for the job.
The spring loaded tool I have msc sells for $60....guess it's been awhile sense I've purchased one lol....but in all seriousness, a quick blow to the tab with the supplied punch will make quick work of that tab without deforming the heli-coil.
The tab is best broken with a quick blow....you may be able to use needle nose but do not pull on it...just twist it! But you need to do it fast...the kit comes with a punch made for breaking the tab off and if you notice it cones with 3 different lengths of coils so you can use one best suited for the job.
The spring loaded tool I have msc sells for $60....guess it's been awhile sense I've purchased one lol....but in all seriousness, a quick blow to the tab with the supplied punch will make quick work of that tab without deforming the heli-coil.