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Why don’t Insurance Companies accept proposals from those who have adverse health history (or) very old people? Insurance is nothing but pooling of risks: Let us understand this with an example. ·        100 healthy (Normal) people take up insurance policies for each 1 lakh cover. Assuming the total claim amount in the year is 10 lakhs (with 10 people claiming 1 lakh each), Premium payable will be around 10,000/- per person in this case. Now if high risk people enter this group (say 10 of them), the probability of claims will go up . Assuming 5 out of these 10, claim 1 lakh each, then total claims amount now will 15 lakhs in the group of 110 people. The premium payable in this case will become 13,656/-. per person . Due to such premium increase, healthy individuals will tend to opt out of insurance leaving the group with more & more riskier people and the premium will only increase, which the high-risk group would continue to pay. This would ...

Health Insurance plan comes up with list of waiting periods & exclusions – it is important we understand what is NOT COVERED in the health insurance, than what is covered.  These exclusions & waiting periods are almost common across all the companies in India . Following are the generic 2 types of exclusions that any health insurance policy: 1)   2-year Exclusions / Waiting Periods: Certain diseases / Treatments are not covered for the first 2 years of taking up the policy. These are typically not life-threatening ones. Ex. Cataract, Piles, Hernia, Varicose veins, Sinusitis, ENT related, etc. The reason for not covering up these in the initial 2 years is because one should not opt for health insurance just only to take up treatment of these diseases, that is having this existing condition & hence taking up a policy for the treatment – “Insurance is always for the unforeseen & not for what is already present”.  2)   Permanent Exclusions : These a...

 Steps to apply for Equity IPO via NJ ewealth mobile APP:   Download "NJ E-Wealth Account" Mobile APP & "NJ E-Wealth CM" Mobile APP Login to "NJ E-Wealth Account" mobile APP (you can create personalized login name from Menu > Settings > Create Personalized Login). Use reset password, if you don't remember the password.  Once logged in, Transact > Public Offer > Equity IPOs Scroll Down to the desired IPO to purchase & click on Apply You can specify the Quantity of shares to purchase <Retail Investors can apply for a maximum amount of 2 lakhs> If need be, you can specify the price for which you want to place the bid - if not checked, the upper price band of the offer will be considered.  Click on Submit - the application is submitted.  Once the shares are allotted, the debit request will come up from your bank, which has to be approved.  From the date of listing, it will take 2 working days for the shares to get reflected in you...