A television commercial shows a patient being unhappy as he is diagnosed with a critical illness (CI) which was not covered by his medical insurance policy. It clearly shows the limitation of the CI product. Such an illness can be an shattering experience—emotionally and financially. Payout from such policies is certainly a welcome help for the person and her family. It cannot ensure getting over the illness, but it can go a long way to reduce the financial stress. In our Cover Story this time, Raj Pradhan explains, in great detail, the nuances of such products that will help in selecting the right cover. Having health insurance is more important; but there are gaps in the product. Life insurers offer CI as rider or as a stand-alone product. A CI product helps bridge some of the gaps, even though it is not a perfect product.
We all know that stock market is on a downward roller-coaster, right now. Losing money, even temporarily, is a terrible experience. So, how should you handle the situation? If you have invested in quality stocks for the long term, you shouldn’t be worried, reassures R Balakrishnan. In his article, he gives a few takeaways from the recent market decline.
Over the past two years, the government has injected over Rs59,000 crore to recapitalise public sector banks (PSBs) which is higher than the budgets of several ministries involved in public welfare. Yet, these banks continue to report burgeoning bad loans. Recently, the Supreme Court of India (SC) stepped in to stop the ongoing loot of PSBs. Sucheta, in her Crosshairs column, explains why the SC has stepped in and what it should do.
It now appears that fraudulent chain-money schemes, PACL and City Limouzine, have transferred vast amounts of money outside India. PACL has been found to have taken investors’ money to Australia, Madagascar and Dubai. Isn’t this a fit case for the much-touted Black Money Act? Sucheta asks the question, in her Different Strokes column. As for our forthcoming events, on 19th March, Moneylife Smart Savers Investor Club is planning to host its third workshop. Stay tuned for the programme.