Must Read | Life Insurance

HDFC Life To Refund Premium after 96% Loss

Raj Pradhan 12 June 2015
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The case highlights that the ‘generic benefit illustration’ which insurers gave in the past was a perfect mis-selling tool

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Why We Suggest Only Online Term Plans

MAS Team 02 October 2014
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The importance of life insurance is undeniable in our lives. The death of the breadwinner can create havoc emotionally and financially. Life...

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What would be your return from traditional policies?

MAS Team 27 February 2014
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A lot of people buy traditional insurance plans such as endowment plans. Have you thought of calculating returns on such plans, especially since you...

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Surrendering insurance? Think of the tax-angle

MAS Team 27 February 2014
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The Finance Bill of 2012 has made it mandatory that the sum assured should be 10 times the annual premium (the earlier limit was five times) for life...

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Life Insurance: Protecting wisely

R Balakrishnan 27 February 2014
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It is good to see a host of life insurance companies actually talking about the features of their insurance products. All these years, their high...

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Surrendering pension products? Prepare to pay taxes irrespective of when you surrender

MAS Team 22 February 2013
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If you surrender a pension product anytime before maturity, will it mean that you will have to give back the tax deduction you had claimed?

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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