Recently when a friend asked me what are the risks in unit linked plans…I said Well Max New York Life has started a campaign saying “Our agents are different”..well I wish they say this to the client BEFORE the client signs up: Sir the following risks exist in a Unit linked Plan: 1. Buying […]
You walk into a life insurance company and buy a life insurance policy for Rs. 7934/- per annum for a Rs. 1 crore sum assured. The company accepts the cheque and asks you to go for a medical test. What are the scenarios that can happen? Best case scenario, they can say, yes you […]
A few days ago I did a post sayings ‘Indians are under-insured’. It was so good that Dr. Khan came and commented (!).. However some of the comments were really saddening! When a person died (and his son died with him) – his wife got more money on the child’s policy than what she got […]
Here is a mail from a reader…I thought readers / fans of planners / etc. should respond. Would love a response from Babar Zaidi, Ritu Kant Ojha, Anirrudha, Kamya Jaiswal, Debashis Basu, Khyati Dharamsi, Deepa Venkatraghvan, …other CFPs, ….all others welcome. I personally do not understand how personal financial planners work (well to a great […]
If you have seen all the news items about ULIPs, other life insurance products, etc. you might have suddenly thought that life insurance business is not profitable. Banish that thought. It is very profitable – why do you think all foreign players are trying to get in? So here is the reason: Cost effective distribution […]
This is not to say that the Indian banking system is great, but I am not sure about how many of you have been following the Goldman case. There is a lot to say against the banking system – but remember do not go short on shares of big powerful companies. Personally there is a […]
Insurance – Life or General is largely about answering some questions like “What if….goes wrong”? The fundamental objective of insurance is to provide a means to offset the burden of financial loss. Think of insurance as a premium paid for “transfer of risk” premium. An alternative method of dealing with risk. You are paying an […]