We have launched a comprehensive insurance section on the website to provide simple, jargon-free and understandable articles to guide insurance buyers
23-Aug-2013 •Dhirendra Kumar
Eight years ago, we kick-started a debate, with a cover story in our magazine Mutual Fund Insight. The cover story was titled ‘Insurance is Not Investment’. This story, which seemed to earn us the undying enmity of almost everyone connected with selling insurance policies, was the first time anyone had laid down in black and white the plain truth about insurance. Insurance policies that combine insurance and investment are always, without exception, a bad choice for investors.
Surprisingly (or perhaps not so surprisingly), insurance sellers hated that story and everything else that we have since written about insurance. This despite the fact that we have always strongly advocated that everyone should buy insurance cover, and that too in a much larger quantum than people normally do.
Of course, our recommendation is always to buy term insurance and health insurance and to steadfastly refuse to waste time even considering any other type of product. This is what we were saying in 2005 when ULIPs were all the rage; and this is what we are saying in 2013, when ULIPs have been discovered by everyone to be a toxic product that will do great damage to your finances.
And so to close the loop, so to speak, ValueResearchOnline.com has now launched a comprehensive insurance section on the website.
The goals of this section are simple:
* Provide simple, jargon-free and understandable articles to guide insurance buyers.
* Provide standardised, comparable coverage for ALL term and health policies. Evolve a system of classifying these products so as to make it easier to choose
* Provide NO coverage for investing in ULIPs, endowment plans and other types of policies that no one should ever choose. These policies will receive limited coverage designed to help you get out of them with the least damage.
* In the near future, start providing rating of all policies that we cover.
* Glossary of insurance terms
Check out our new insurance section here, or click on the ‘Insurance’ link at the top of every page on ValueResearchOnline.com.
I look forward to your feedback and suggestions at [email protected].