Are Fixed-benefit Critical Illness Plans Better than Indemnity-based Plans?

Critical illness policies are designed to be useful when a person is struck with a life-threatening illness.

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Is Arogya Sanjeevani Health Policy Made for You?

Health insurance is a policy which pays for medical treatments and hospitalisation.

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Why Surgical benefit plan cannot replace mediclaim

Surgical benefit plans are being pitched more and more. Some think it can replace mediclaim since surgeries are often a large component of...

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What are mediclaim without maternity benefits?

A mediclaim insurance policy ensures that your medical expenses are reimbursed by the insurance company.

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What are mediclaim with maternity benefits?

Maternity benefits of mediclaim product pay for normal and caesarean delivery up to a specific limit.

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What are critical illness policies?

Critical illness product is offered by life insurers and non-life insurers. If your family has a history of serious ailments, or your lifestyle is...

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What are super top ups?

What is the use of top-up and super top-up? It is one way to get additional health insurance cover. If you were to buy a separate cover, it may be...

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Health Insurance- Handling emergency hospitalisation

Mediclaim policies offer cashless option at high-end hospitals, it is tempting for the insured to indulge in the best of medical treatment even for...

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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