Apology Accepted


wealthymattersIf you have been reading my blog for a while,you know I had a run-in with ICICI-Lombard’s SEO team last November.Link.

On my return to Mumbai,following is a mail I found in my inbox.It does make me feel a bit better about the matter for it shows that where an individual errs,the organization has a system in place to try to right issues.But I am not sure about removing an archived post.Right from the beginning,I have faithfully kept intact all posts,comments and replies without any whitewashing and I am not so certain I wish to change things now.Relationships,I believe are made not by never being wrong but by saying sorry when things go wrong.And as such,I believe,this is the end of this matter. Read more of this post

Shame! Shame! ICICI-Lombard


Here is an e-mail that arrived  today:

Removal of unauthorized back links directing to ICICI Lombard website: http://www.icicilombard.com


Dear Sir/Madam,

We write this with reference to our previously communication as under, requesting on removal of unauthorized back links directing to our website.

‘Hello Webmaster,

Read more of this post

Health Insurance Policies For Students

wealthymattersUniversities abroad mostly make it mandatory for students to have medical coverage. Some universities insist on certain specific requirements such as a minimum medical sum insured, maternity expenses,coverage of mental and nervous disorders, drug and alcohol abuse and inter-collegiate sports injuries.Studying your course fee structure closely would be a good idea. It will help you ascertain whether the cost of health insurance is included in the fees. Next, you need to figure out whether your university allows you to replace this built-in cover with a health policy, that is, student cover from an Indian insurer of your choice.If the answer is yes,you’re in luck.

A student  can buy student health insurance cover in India with one-third  the premium he/she would have to pay for a similar cover in a foreign country. Additionally, Indian travel cover ensures that students are covered round-the-clock for all in-patient and outpatient treatments when they are abroad. This is unlike many universities who only cover students within the premises. The cover offered by some universities restricts students to a specific list of hospitals. Read more of this post

Opt For The Critical Illness Rider

wealthymattersIts a common tendency to automatically opt for the Double Accident Benefit (DAB) rider in case of life insurance policies. Personally I feel it makes sense to similarly adopt the Critical Illness Rider (CI) too.The few extra rupees are probably well spent.Here’s why I think so:

According to a recent study conducted by the private non-life insurer ICICI Lombard, the maximum increment in critical illness incidence rates was experienced in the age bracket of 26-35 years.The vulnerability to illnesses such as cancer among the younger age group is increasing. In this age group, the incidence rate has doubled in the last three years. The study also noted that spike in critical illness incidence rates was more significant in IT and manufacturing sectors.

Other insurers also have a similar story to tell.According to Aviva India,claims for lifestyle diseases like cancer, heart attack and diabetes from people below 40 years of age stood at 23% in 2011-12 and it has shot up to 38% in FY2012-13.Due to a spurt in lifestyle diseases where people are exposed to various risk factors like diabetes, hypertension and cholesterol disorders there is an increase in the number of claims for cardiac diseases and cancer, which are covered under major critical illnesses.

Critical illness riders offer a fixed sum once the illness is diagnosed.They can be a valuable addition to your basic health cover if you contract any serious illness. Your health cover will take care of most of your hospital bills, and pay-outs from critical illness cover can be used to fund medical costs that are not covered,your travel, food, post-treatment recuperation expenses and other long term or permanent expenses such as colostomy pouches.It could also come to your aid should you have to travel abroad for treatment. In case of a critical illness rider  the sum insured is paid once any of the illnesses is diagnosed irrespective of where the treatment is taken, at home or abroad.

In fact,if you prefer to take treatment abroad only,consider buying a standalone critical illness policy available from the general insurers.

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