Insurance
Life Insurance: “Customers kept in the dark”

Harvard study finds serious flaws in Indian insurers

AHarvard Business School study on...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Health Insurance: Migrate to Mediclaim 2012

One-time option to increase insurance cover up to Rs8 lakh

Mediclaim policyholders, especially senior citizens and those with existing ailments, are often refused insurance cover enhancement under the garb of ‘right to underwrite’. New India Assurance is offering Mediclaim 2007 policyholders migration to their new product Mediclaim 2012 with a bait of one-time option to increase the sum insured. Mediclaim 2012 policy allows health insurance up to Rs8 lakh as against Rs5 lakh for Mediclaim 2007. Policyholders, including senior citizens, will be given a one-time option to increase their sum insured if they have had two claim-free years.

User

Builder To Pay for Delayed Possession of Flat

A real estate firm that delayed giving possession of an apartment to its buyer has been directed by the State Consumer Dispute Redressal Commission of Tamil Nadu to pay Rs3 lakh as compensation. In December 2012, Vijaya Padmanaban, an employee of Chaitanya Builders, made an advance payment towards booking an apartment in a building project of her employer. Two years later, she resigned her job. The company sent her a note saying that the flat was allotted to her “at less than (the actual) cost on an understanding of a long-term productive participation in the growth of the company.”

The company also returned her cheques saying that her “attitude to the company’s assignments resulted in a loss of Rs2 crore in a project.” Vijaya filed a complaint with the Commission seeking compensation of Rs20 lakh for deficiency in service, harassment, mental agony, and Rs15,000 for loss of funds.

The Commission agreed with her and directed Chaitanya Builders to “hand over possession of the flat to Vijaya and pay an amount of Rs3 lakh for deficiency in service, harassment, loss and sufferings undergone by her, besides Rs5,000 as costs.” Vijaya has also agreed to pay the revised price.
 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)