Insure Health

Free Accident Cover


As a member of Moneylife Advisory Services, you get to buy selected insurance products, designed to meet your specific needs. Most importantly, you will get special support during your claims, as long as you make the right declarations.

As an MAS subscriber you get a free Rs2.5 lakh Personal Accident (PA) cover.

To know more about Personal Accident cover in general, click here
To read a primer on Personal Accident Plans click here

Our Selection: Based on our research, we have selected ICICI Lombard personal accident policy. For MAS members, ICICI Lombard has agreed to offer its Personal Accident policy for Rs2.5 lakhs at a concessional rate.

Our product selections are based on unbiased research. We are not insurance agents and we don't get any commissions or any other benefits for suggesting any product.

The free accident policy from ICICI Lombard General Insurance Company Limited is a Group Personal Accident Policy bearing Policy Number: 4005/89085552/06/000. All premium subscribers of MAS would be covered under this policy, from the subsequent month onwards, from the date of their individual subscription, till the end of their subscription period. If there is any accident that gives rise or is likely to give rise to a claim under this Policy, MAS premium subscriber or any of their family member, would be required to follow the following process to lodge a claim with the Insurer:

(a) Give immediate notice or within 24 hours, preferably over email, to our Relationship Manager at ICICI Lombard GIC Ltd, Mr. Abhishek Ratwadkar at [email protected], with CC’s to [email protected] and to us at [email protected]
(b) Deliver to ICICI Lombard GIC Ltd, within 14 days of the date on which the event shall have come to his knowledge, a duly filled claim form and any other material particular, relevant to the making of such claim.
(c) Tender to ICICI Lombard GIC Ltd, all reasonable information, assistance and proofs in connection with any claim.

You can also mail us on [email protected] and we will be glad to assist you.

 
GPA Policy Features
 
GPA Claim Form
 
GPA Claim Process Note
 
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Changes in Our Business Model
 
 
Greetings from Moneylife Advisory Services
 
Between financial years 2019-21, SEBI has come up with extensive changes to investor advisor regulations. On Sep 23, 2020, SEBI had issued new additional guidelines. This comes just two months after extensive changes announced in July 2020. Earlier, in December 2019 there was an ad hoc circular
 
As a result of these changes, IAs, cannot accept fees through credit cards, will have to sign a 26-clause investor agreement, have to maintain physical record written & signed by client, telephone recording, emails, SMS messages and any other legally verifiable record for five years. IAs were already asked to record the suitability and rationale for every piece of advice given, sign them and store them for five years.
 
While these extensive and frequent changes, designed to strengthen the conduct of IAs are well-meaning, these have sharply increased compliance efforts and cost. We, being online advisors, find many of changes harder to implement, compared to advisors working in the physical space. We will have to have an army of advisors, administrative and tech staff to be compliant. If we do this, we will have to divert money to these areas and the cost of our service will double. We want to remain the least-cost service in the market to benefit more and more people. In the circumstances, we are forced to change our business model from “advisory” to “research”. This will mean the following:
 
What remains the same:
  • Recommendations on insurance, investment and Lion stocks, will continue as a part of the MAS premium subscription. Our strength has always been research and this will remain available to you through our recommendations.
  • The magazine and all textual content will remain as part of the service
  • The investools will have to be reworked and will offer model portfolios. We will have to suspend the restructuring tool.
 
What changes:
  • The interactions in Ask / Handholding will offer investment advice but not specific to your situation. It will offer information on investment products and also clarify your doubts about various financial products. It will be a forum for information, not for advice. This will be implemented with immediate effect and our guidelines in Ask, reflect this now.
 
Over the next few weeks our site and our communication to you will reflect these and other additional changes.
 
We feel this will not affect you much in terms of what really matters in investing: knowing what to buy and when to buy. This is our edge and it will still be available to you.
 
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Debashis Basu
Founder