Mutual Funds
DWS Mid Cap Fund - Series 1– More of the same

Deutsche Mutual Fund-DWS has launched its first mid-cap oriented scheme in a market where investors are flooded with so many choices


There are as many as 55 mid-cap oriented mutual fund schemes, excluding close-ended schemes, which are available for investment. With most small and mid-cap schemes delivering double-digit returns in excess of 75% over the past year, fund houses seem to be using this opportunity to attract investors. Deutsche Mutual Fund too has joined the league of mutual funds that offer a mid-cap oriented scheme. The fund house recently launched a three-year close-ended scheme— DWS Mid Cap Fund. With a high allocation to mid-cap stocks, investors should be aware of the risks associated with the scheme, especially since it is a close-ended scheme with no prior track record.


The scheme will invest 70%-100% of its investments in mid-cap companies. Up to 90% of the portfolio will be invested in non mid-cap companies. According to the offer document of the scheme, mid-cap companies are companies are defined as those “with a market-cap within the market-cap range of the companies in the CNX Mid Cap Index.” The performance of the scheme will be benchmarked to the CNX Mid Cap Index.


Akash Singhania will be the fund manager for equity investments. He has around 10 years experience. Rakesh Suri will be the co-fund manager. He has an experience of 16 years.


Obama praises Modi for shaking India's 'bureaucratic inertia'

Modi has impressed me so far with his willingness to shake up the bureaucratic inertia inside of India, however it is a long-term project and we will have to see how successful he is, the US President says


US President Barack Obama Thursday praised Prime Minister Narendra Modi's efforts to shake up the 'bureaucratic inertia' in India, less than a month after he described the Indian leader as a 'man of action'.


However, Obama said that this was a long-term project and one would have to see how successful Prime Minister Modi is in his efforts.


"Modi has impressed me so far with his willingness to shake up the bureaucratic inertia inside of India. But that is a long-term project and we'll have to see how successful he is," Obama told a business roundtable, which was attended by top corporate leaders of the country.


The roundtable was organised to discuss the current economic condition of the US and across the globe.


Last month in Myanmar on the sidelines of the East Asia Summit, Obama in his brief interaction with Modi had told him that he is a 'man of action'.


On his return from the 10-day trip to the Asia Pacific region that took him to Beijing, Myanmar and Australia, Obama announced that he has accepted an invitation to be the chief guest at the annual Republic Day Parade in New Delhi on 26th January next year.


In his interaction at the business round table, Obama said the US, over the last six years, has put more people back to work than Europe, Japan, and the rest of the advanced world combined.


The growth of emerging markets has been slower than anticipated, he noted.


Personal Finance Exclusive
Revealed: The Truth about New India Assurance’s top-up policy

Newspapers have claimed that New India Assurance's newly launched top-up policy is the cheapest. These articles assert that you can even do cosmetic surgery and claim the amount over the deductible, for expenses covered by mediclaim. Here is the truth


New India Assurance (NIA) has launched a top-up plan, which is being hailed by few newspapers like the Times of India (ToI) and Economic Times (ET) as the cheapest product available. This is incorrect. The NIA top-up plan is not the cheapest and it is more expensive than super top-up products which are a better option.


The ToI article states - A unique aspect of NIA's cover is that for the threshold limit to be reached, all hospitalization expenses are taken into account irrespective of whether the expenses would qualify as an insurance claim. This means that the insured can spend Rs5 lakh on a cosmetic surgery (which is not covered under mediclaim) and recover any additional health expense (covered under mediclaim) under the top-up plan. This is absolutely incorrect information. Moneylife wrote about the discrepancies to New India Assurance, but there was no response till the writing of this article. In fact, there is no health insurance product that covers cosmetic surgery.


NIA top-up has deductible of Rs5 lakh and Rs8 lakh. It is a high deductible plan. There are top-up/super top-up products available in the market with deductible from Rs2 lakh onwards. The lower the threshold deductible, the higher are the chances of being able to file a claim and benefit from the policy. With NIA top-up limiting the deductible to be a high amount of Rs5 lakh and Rs8 lakh, the product has limited flexibility.


The premium for a 41 year old person buying NIA top-up with deductible of Rs5 lakh and coverage of Rs5 lakh, will be Rs1800 + tax, which is Rs2022. United India's  top-up for the same deductible and coverage will have a premium of Rs1910. Apollo Optima Plus is a top-up plan with a premium of Rs1348 for the same parameters. It is obvious that the NIA top-up plan is not the cheapest, as claimed by leading media publications.

L&T my: health Medisure Super Top Up and United India’s Super Top-Up are the only standalone super top-up policies available in the market as of now. The premium for L&T super top-up plan is Rs1112 for the same parameters and United India's super top-up is Rs2135. It means L&T super top-up is cheaper than NIA top-up and United India super top-up costs a little more premium. Moreover, you should prefer super top-up products over top-ups as these offer better benefits. 

The difference between super top-up and top-up is that in the case of a top-up policy, the expenses for a single treatment should be over the threshold, whereas in a super top-up the total expenses in a year must be above the threshold level for the policy to be useful. Thus, between a top-up and super top-up, the latter is more beneficial for customers. Examples of top-up products that you should avoid are - United India Insurance (Top-up medicare), Bajaj Allianz (Extra Care), Apollo Munich (Optima Plus), ICICI Lombard (Health Care Plus) and Star Health (Super Surplus). You can add NIA top-up plan to this list of products to avoid.

NIA's policy wording clearly states –

The following Hospitalisation expenses incurred in respect of all the Insured members shall be considered for determining the Threshold under the Policy:

• The admission in the Hospital should have happened during the policy period.

• The Insured should have been admitted as an inpatient (outpatient treatments are not to be considered).

• The Hospitalisation should be for an Injury or Illness.

• Pre–Hospitalisation and Post–Hospitalisation expenses will not be considered.

The exclusions section specifies following non-covered procedures - Circumcision, cosmetic or aesthetic treatment, plastic surgery unless required to treat Injury or Illness.

If the policy clearly states that deductible threshold will only considered hospitalisation for injury or illness and exclusions specifies cosmetic surgery as non-covered, then how can TOI and ET media get it wrong?



Uma Narayanan Mahesh

6 months ago

We have a New India Assurance Family Floater Policy,SA 5 Lakhs for 3 members of our Family . Would like to increase the SA.Is it advisable to get SA 8 Lakhs or buy a Top up for 5 Lakhs?

Sunil Ghotge

12 months ago

We have a NIA Family Floater policy in force; SA 5 Lakhs for persons aged 59 and 55 yrs, paying a Premium of Rs 28000/- approx which we consider very expensive. Need to increase the cover to 15 Lakhs, possibly by reducing SA of existing cover to 3 Lakhs and a Super Top-up with Threshold 3 Lakhs. 1. If there is NO CLAIM with NIA policy in last Four years, does the Super Top-up cover all pre-existing from Day One ? 2. Can you suggest Best / optimum options, with PORTING the Cover if necessary to LnT or any better option ??


Jagdish Motwani

In Reply to Sunil Ghotge 12 months ago

Reducing SI not advisable as Room Rent Capping will reduce all claims. As it is Room @ 5000 Per Day will not suffice in Major Hospitals.

Sunil Ghotge

In Reply to Jagdish Motwani 12 months ago

Can you kindly suggest Best / optimum options, with PORTING the Cover if necessary to LnT or any better option, if we wish to enhance the cover to 10-15 Lakhs please?

Augustine Francis

In Reply to Sunil Ghotge 8 months ago

You can go for Super Top up from United India, wherein you can keep your current sum insured as 5 lacs and take a super top up for additional 10 lacs for a premium of 7400/- for 2 members


2 years ago

Dear motwani sir
you ar
e also missing a point all other companies offering super top up plans upto 10laks or 15 laks max but NIA offering 22LAKS COVER WITH DEDUCTIBLE 8LAKS that is also make some point


Jagdish Motwani

In Reply to ketan 12 months ago

With New India Option of 5 Lacs Thresh=hold & Up To 15 Lacs Sum Insured also available.

Jagdish Motwani

2 years ago

Dear, there appears to be confusion. The example of Cosmetic Surgery related Hospitalisation Expenses is given for Reaching The Thresh-hold Limit i.e. if during the year insured has incurred Total Hospitalisation Expenses upto Rs.5/8 Lacs then Policy Benefits will Trigger but off-course claim payment as per policy T&C. For Example if Thresh-hold Limit is Rs.5 Lacs & insured is hospitalised for AIDS or Cosmetic Treatment & Hospital Bill is Rs.4 Lacs & again during policy year if he is Hospitalised & hospital bill is Rs.3 Lacs then Claim Eligibility Starts for Amount of Rs.2 Lacs as per Policy T&C. If second Hospitalisation is also for AIDS or Cosmetic Treatment then nothing payable. As regards pricing the Star Health's pricing is good as it is static irrespective of age band, but offcourse even Star's Top Up has certain limitations.
Jagdish Motwani
Pathways Insurance Solutions


raj pradhan

In Reply to Jagdish Motwani 2 years ago

Dear Mr Motwani,

You seem to be missing a point.

The policy clearly states that "deductible threshold will only consider hospitalisation for injury or illness".

It clearly means that if your cosmetic surgery is not due to injury or illness then it will not be covered for considering the threshold deductible.

If I had got it wrong, New India Assurance would have corrected me. I have written to them well in advance of writing the article.

Jagdish Motwani

In Reply to raj pradhan 2 years ago

Pl. share your email ID.
Thanks & regards

nilesh prabhu

2 years ago

Dear Raj,

Great work. Your are the expert on insurance. The government should utilise your and other such persons expertise.

Your and your like are helping ordinary citizen fight big business.

May your tribe increase


raj pradhan

In Reply to nilesh prabhu 2 years ago

Thanks, Mr Prabhu. You are also doing wonderful job of fight against TNT India for insurance scam.


2 years ago

The Articles of Money Life brought out the fact of TOI. However, United India and L&T General Insurance are not the only company to offer super top up policy. Apollo Munich's Optima Super and Cigna TTK's health plan has super top up options.


raj pradhan

In Reply to Pratik 2 years ago


Apollo Munich Optima Super is super top-up & mediclaim combo and hence little different than just super top-up. The pricing will be different for better benefit. In this example, it is Rs. 2511 for same parameters and hence better option than NIA top-up charging Rs2022. Please read about it in our latest cover story and separate article

Cigna TTK mediclaim has deductible option, not stand-alone super top-up product. But, yes it can be considered for comparison purposes.


2 years ago

TOI and ET are pro-establishment papers. The menace of paid up news is also rampant there. Intelligent readers ,therefore, can understand the reason for this publicity.
but the fact is beyond doubt that although NIA may be the top Nationalized non-_life Insurance company; it has been also worst for the Insured persons, especially seniors. If we study the pattern of Health Insurance complaints from IPs ; it will become evident that NIA is on top.

Sabapathy Narayanan

2 years ago

Wonderful Analysis with facts and figures by Raj. Red Salute!

It is clearly proved that it is a paid news and it is marketing gimmiks!


raj pradhan

In Reply to Sabapathy Narayanan 2 years ago

thank you


In Reply to raj pradhan 2 years ago

Raj , With regards to your statement that New India Top-Up Mediclaim is not a Super Top -Up , I had a different understanding reading the Policy Document in NIA website which states
If during the Period of Insurance, You or any Insured Person undergo Hospitalisation for Illness or Injury and incur Medical Expenses, by reason of which the Cumulative Hospitalisation Expenses for the Insured Persons during such Period exceeds the Threshold specified in the Schedule, We will reimburse subject to terms and conditions of this Policy, the portion of the Medical Expenses for such Hospitalisation or any Hospitalisation thereafter as exceeds the Threshold, to the extent specified under How Much We Will Reimburse section of this Policy.
a) Claim shall be made only for the Hospitalisation during which the Cumulative Medical Expenses exceeds Threshold or for any subsequent Hospitalisation, but not for earlier Hospitalisation or treatment.

Based on the wording in the policy document , Is it not clear that this is a Super Top-Up policy which is triggered when the previous cumulative hospitalisation expenses (i.e.aggregate of all previous) for the policy period exceeds the threshold limit ?


Parul Aggarwal

2 years ago


Deepak R Khemani

2 years ago

Wow Raj, That is really quick and good work done by you and the Moneylife team. It goes on to show that Newspapers are really not getting their facts correct before printing any article.


Suketu Shah

In Reply to Deepak R Khemani 2 years ago

ET Wealth is 80% misleading.I have unsubscribed to it permanently wef Dec 2014.TOI and its group wl do anything for "money"

raj pradhan

In Reply to Deepak R Khemani 2 years ago

thanks, Deepak

Jagdish Motwani

In Reply to raj pradhan 2 years ago

Dear Raj
I have already requested for your email ID to share relevant material & await response. The policy wordings & presentation may clear your doubts.

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