Moneylife Events
Moneylife Seminar: 10 ways to save on mediclaim
Moneylife Foundation held an exclusive, in-depth session conducted by Raj Pradhan, to a packed house, in which he delved into various aspects of mediclaim, including ways to save on premium 
 
Moneylife Foundation’s 246th event was conducted by Raj Pradhan, an insurance expert, who has written many cover stories for Moneylife magazine and was the expert associated with the insurance helpline. He discussed 10 ways of saving on mediclaim policies along with product intricacies. Moneylife does suggest a mediclaim policy for your health insurance needs. But, the product has its own restrictions and hence, it is also important to have emergency funds kept aside. Mr Pradhan gave insights to a packed audience, on how one could be better prepared to take the right health insurance policies for individual, senior citizens, pregnancy cover. 
 
Mr Pradhan told the audience that one must take care when choosing an insurance product by studying its features, terms and conditions and, more importantly, fine print and see which one is suitable as each insurance policy is different. If the product feature limitation helps to reduce the premium, then it is actually a way of saving premium. You can learn to live with the product limitation so that the adverse impact can be softened. In short, the premium savings can outweigh the reduced benefits if you properly plan the mediclaim policy usage.
 
He gave an example of a concept known as ‘co-pay’ which most people are not aware of in which one must pay out of the own pocket even if he/she is insured. He also highlighted other fine print items, such as insurers levying as much as 1% of sum insured room-rent limit, pre-existing diseases (PED), outpatient procedures count that may be misleading and products which limits payments for surgeries/treatment to amount much lower than actual sum insured. He even talked about the nuances of cashless mediclaim. He advised participants to trust their family doctor as high-end hospitals may not be the best option in all cases.
 
Mr Pradhan also explained the concept of portability whereby you can move from one insurer to another with the same product. Does it work? Portability can work for young and healthy. It can help to reduce premium without having to restart the waiting periods. But, what if you are moved to a new product by your insurer? Is it allowed? What about policy changes during the middle of the policy year or at the end? Will you be able to prevent the insurer so that your benefits remain the same and hence the value of the policy is preserved?
 
Mr Pradhan is a columnist at Moneylife and writes extensively on all insurance products and also on fixed income. Stay tuned for the video, which will be uploaded shortly. He had recently conducted a programme on life insurance, the synopsis of which can be read here (If you would like to be informed about many more such events in the future, become a Moneylife Foundation member by clicking here).  

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Women scoop top four ranks in UPSC exam
Women scooped the top four ranks in the civil services exam results declared by the Union Public Services Commission (UPSC) on Saturday, officials said.
 
A total number of 1,236 candidates have been recommended for appointment to the Indian Administrative Service, Indian Foreign Service, Indian Police Service and Central Services Group 'A' and Group 'B', the UPSC said.
 
Of the top five candidates, four are women - Ira Singhal (1), Renu Raj (2), Nishi Gupta (3) and Vandana Rao (4). Singhal is from Delhi.
 
It was for the first time that the final results were declared within four days of the closing date of the interviews.
 
Conducted by the UPSC annually in three stages -- preliminary, mains and interviews - the examination took place on August 24, 2014 at 2,137 venues at 59 centres across the country.
 
Of the 9.45 lakh candidates who applied, about 4.51 lakh were cleared to sit for the examination.
 
A total of 16,933 candidates qualified for the main examination which was held in December, 2014. A total of 1,364 posts have to be filled through the examination.

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BlackBerry's up to Android smartphone

The device, called Venice, will run Google's mobile OS and complete suite of apps, Droid Life reported

 

Blackberry seems to have finally shed all qualms about the Android and is ready to hog the platform.
 
There have been rumours of the possibility of BlackBerry releasing an Android device this year. The device, called Venice, will run Google's mobile OS and complete suite of apps, Droid Life reported.
 
According to a leaked press render, the device looks rather elegant, featuring a rounded front display, complete with microUSB, headphone jack, and large speaker.
 
However, this is not all. The display can slide up, revealing a full keyboard for those who wish to use one. Venice, in that way, seems to be a blend of modern design and a bit nostalgia.
 
The Venice will be hitting AT&T's network, but there is no timeframe for the release.
 
As shown in the render, the device looks to be running all of Google's applications, meaning the device will likely have access to Google Play.

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