Unbiased Reviews | Other Insurance

ICICI Prudential Life Guaranteed Pension Plan – Is It Worth It?

MAS Team 24 December 2020
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ICICI Prudential Life has launched an annuity product called Guaranteed Pension Plan with the option of immediate annuity and deferred annuity

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India’s First COVID-19 Life Insurance Is Launched. Is It Worth It?

MAS Team 17 November 2020
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Until now, we had the Corona Kavach health insurance policy targeted specifically for Covid-19 treatment

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Kotak Health Shield: Can Fixed-benefit Health Insurance Replace Indemnity Insurance?

MAS Team 30 October 2020
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Kotak Life Insurance Company has forayed into health insurance with the launch of Kotak Health Shield, a fixed-benefit health insurance plan

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Future Generali India Online Travel Insurance Products

Raj Pradhan 03 August 2016
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Review of Bajaj Allianz’s Adventure Sports Cover

Raj Pradhan 08 July 2016
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Home Insurance: Review of New India Assurance Griha Suvidha Policy

Raj Pradhan 23 June 2015
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New India Assurance has launched a home insurance product ‘Griha Suvidha’. The product offers home contents cover for various assets and...

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Changes in Our Business Model
 
 
25th Sept 2020
 
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
  • 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