Financial products are complex. Often, what you see is not what you get. Still, some basic principles work in case of bank deposits (they are safe), or blue-chip stocks (they usually offer higher post-tax returns than bank deposits). But Mediclaim is a unique financial product. No one can guarantee that your claim will be paid when you need it. At best, you can hope to have done everything correctly and have a good chance of getting your claim. Unlike many other financial products, it is difficult to pick the best insurer or the best product. Add to it is the complexity of insurance frauds. This can make even an honest insured appear like a sceptical case when a claim is lodged. But the forewarned can be the forearmed, if they are aware of what really happens on the ground. Raj Pradhan has compiled six stories of the insured’s pain and the insurer’s strain; there are no clear-cut winners in many cases. Read these examples in our Cover Story to know about googlies in the policy document, hospitalisation issues, new medical products (like stents) and claims investigation processes.
R Balakrishnan, in his article, points out how a simple formula like return on capital employed (RoCE) can be used to pick winning stocks. A must read, if you follow our stock-picks or subscribe to our Stockletters, as RoCE is a part of our stock-selection criteria.
After some harrowing weeks for us, Justice Gautam Patel, of the Bombay High Court, issued a scathing order in the NSE Vs Moneylife case. Turn to page 13 for excerpts from this path-breaking order that vindicates our stand thoroughly. This order should put a brake on big businesses using legal threats, running into a few hundred and thousands of crores of rupees, to silence the voice of media. In her Crosshairs column, Sucheta highlights some of the cases that have come up recently. At stake is fair journalism.
Thank you for all the positive comments and support in the NSE case that was very crucial not only for Moneylife but for the entire Fourth Estate. As always, do keep writing in with your comments and suggestions.