Citizens' Issues
Property Insurance: What Insurers Won’t Tell You
Getting property insured is a wise move against numerous natural and manmade disasters. If you go for a home loan, the bank may not give you much choice; they insist on your getting your property insured. But you should know that you can get fooled into buying a high-premium policy for an inflated sum insured rather than a low-premium policy for a realistic sum insured. You have to be aware of what the agent (generally, banks) is really offering you. In our Cover Story, Raj Pradhan writes about mis-selling of property insurance which no other media has covered so far. Not many know that if the bank sells regular property insurance for an under-construction home, the insurer will not pay a claim. But do the banks really know this or even care? And the borrower, who just wants to close the deal, pays the premium as some sort of a fee to get the home loan cleared. Consumers need to be informed and negotiate wisely.
 
What should you be doing in this gloomy stock market environment? Wait patiently, advises R Balakrishnan in his article. While you wait, he indicates what you should keep your eyes open for. When investing in mutual funds, many are confused about whether to go for the growth option or the dividend option. Turn to our Fund Pointer section, to find out.
 
Yoga guru Baba Ramdev’s Patanjali brand is now at least a Rs2,000-crore business. Patanjali Ayurved is set to launch ‘healthy’ instant noodles which will put it in direct competition with Nestlé’s Maggi. Will the home-grown noodles brand be able to survive the competition? If so, it will rewrite marketing history. Sucheta explores the possibility, in her Different Strokes section, as Patanjali starts looking more and more like a full-fledged consumer products company using endorsement by stars and TV commercials.
 
Moneylife Foundation has a couple of ‘Safe and Smart’ events lined up over the next few weeks at SIES, Nerul and NL Dalmia, Mira Road. To know more about the events, and to register, visit- goo.gl/rm1IPM.

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Chennaites Learn How To Be Safe and Smart with Their Money
Moneylife Foundation hosted its second educative and highly interactive flagship seminar "Be Safe and Smart with Your Money" conducted by Sucheta Dalal, managing editor of Moneylife and Debashis Basu, editor of Moneylife. Popular television actor, Mohan V Raman, while introducing the subject, had the audience in splits. 
 
TS Krishnamurthy, former chief election commissioner of India and a trustee of Moneylife Foundation, inaugurated the programme. 
 
Among the eminent guests were: Krishnamurthy Vijayan, a mutual fund professional who is now the managing director & CEO, Tamil Nadu Infrastructure Corporation, Dr Rajeeva Karandikar, eminent mathematician and director of Chennai Mathematical Institute and NK Prasad, CEO of Computer Age Management Services (CAMS).
 
Ms Dalal’s session titled ‘How To Be Safe with Your Money’ focused on not losing money, insuring for a secure future, avoiding credit and investment traps, focusing on a few safe products, avoiding emotional traps and maintaining financial hygiene. Many have lost huge amounts of money in pyramid, Ponzi, multi-level marketing (MLM), chain marketing schemes and chit funds. 
 
In the second session, ‘Be Smart with Your Money’, Mr Basu took the audience through simple steps for investing smartly and explained that, to invest smartly, one needs to know which products to choose, when to invest and how much to invest in what kind of assets. The two and a half hours session concluded with a lively question & answer session.

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IRDAI Wants Life Insurance Proceeds To Be Tax-Free
Is it a desperate attempt to keep investment-cum-insurance products relevant?
 
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