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Unbiased Reviews | Life Insurance

Term Insurance Review: Aditya Birla Sun Life DigiShield Plan

MAS Team 11 February 2021
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Term life insurance products are increasing in popularity due to higher awareness of their benefits

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Review: IDBI Federal Life Young Stars Plus Plan

MAS Team 23 November 2020
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IDBI Federal Life Insurance has launched a new insurance savings plan called Young Stars Plus Plan.

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Canara HSBC OBC Invest 4G ULIP: Is It Worth It?

MAS Team 23 October 2020
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Canara HSBC Oriental Bank of Commerce Life Insurance has launched a new unit-linked, non-participating, life insurance-cum-savings plan called Invest...

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Term Insurance with Add-ons from IndiaFirst: Is It Worth It?

MAS Team 16 October 2020
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IndiaFirst Life Insurance, promoted by Bank of Baroda and Union Bank of India, has launched a term insurance policy called IndiaFirst Life Guaranteed...

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Insurance Review: Bharti AXA Life Wealth Pro

MAS Team 26 September 2020
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Bharti AXA Life Insurance has launched a new bundled unit-linked insurance policy (ULIP) offering the benefits of insurance, savings and...

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Review: Max Life Smart Term Plan

MAS Team 01 August 2019
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Max Life Insurance recently announced a smart term plan which offers enhanced life cover, return of premiums, longer coverage option and useful...

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LIC Jeevan Shanti: Another Case of Mis-selling?

Akshay Naik 14 November 2018
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Recently, in September 2018, Life Insurance Corporation of India (LIC) launched a new pension policy named ‘Jeevan Shanti’ and it has...

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Review of Tata AIA's Three New Products

Raj Pradhan 24 November 2016
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Review of Aegon Life Insurance iTerm

Raj Pradhan 27 October 2016
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Life Insurance: LIC Online e-Term Open for NRIs

Raj Pradhan 30 May 2016
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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