Just finished watching a TV serial (real life program I believe) called ‘Crime Patrol’! One Nationalised bank had opened a bank account – without proper papers, and not remembering the basic Anti Money Laundering lesson 101. The story is very simple, but shocking. There is a death claim which is fraudulently encashed by a Branch […]
A few days back Safalniveshak posted a comment saying his friend’s father was cheated by an agent who had sold him 192 schemes in 192 folios. He called it bad and disgusting. Let us look at the whole process. A mutual fund or a life insurance company gets a LICENSE to do business in their […]
Every day I get mails, calls …or friends who say ‘a friend got this offer…’ Most of the deals on offer look and feel like a rip off. Sometimes a complete rip off. Let us look at some of them! ‘Sir you know ULIPs are bad and expensive, so our company has decided to […]
A friend called to ask…tell me precisely what can go wrong in a group policy: 1. First of all you are dependent on your employer. That does not sound too great, does it? 2. Your employer could just do away with medical insurance completely. Period. 3. Suddenly your parents could be excluded – and if […]
There are many people who prefer buying mutual funds, medical and life insurance and many financial products through an agent. Normal reasons why people use an agent are as follows: He helps with filling up the form He knows what is happening in the industry and will be able to give some useful advice He […]
Buying any financial product is not easy. Let us look at a product like life or even general insurance. Fact is, you are buying a ‘security’ – you want to be reasonably sure you are dealing with a good company, right. What do people look for: 1. Can I buy it online: Ease of […]
I have always held the view that you should have your own medical and life insurance – do not trust your company to cover you sensibly. Most general insurance (medical) decisions in corporate India is a finance and HR decisions. Rarely, if at all are they equipped to handle this decision. Let me give you […]