In finance, there’s a remarkable force at play that holds the potential to revolutionise your financial future: compound interest. For Indian investors, comprehending and leveraging the might of compound interest is paramount for constructing enduring wealth. In this all-encompassing guide, we’ll delve into compound interest and how a compound interest calculator India version can be wielded to craft well-informed financial choices, laying the foundation for a financially secure future. Unlocking the Secrets of Compound Interest Commencing our exploration into the domain of compound interest ..read more

prologue:   Fire is among one of the early discoveries of mankind. It is believed to have been discovered in the Early Stone Age by our ancestors. The discovery of fire was the vital turning point for human evolution. Fire has always been an integral part of our daily lives since the primitive age. It acted as a source of warmth for early humans making their survival easy in harsh weather conditions that allowed them to settle in temperate areas from tropical and sub-tropical areas. It also acted as a source of light and an aid for protection from animals in the dark permitting them to ..read more

A professor at a college who has multiple sclerosis (MS) filed a lawsuit in Bombay High Court after her family medical coverage was canceled by a private insurance firm and she was rejected payment for an unrelated operation. After learning that she had MS, several insurers refused to provide her with health coverage. "Being refused health cover by insurance companies on account of MS, a sense of discrimination and of being an outcast is felt by petitioner at the hands and the conduct of insurance companies," according to the appeal submitted by Manita Singh of Bandra. Manita was given an MS d ..read more

“Some of the vessels on which the Insurance brokers have secured insurance will be the colour of rust inside. That rust may be no thin veneer of oxidation but wastage so great as to render the ship unseaworthy.” Shipping is a global business, involving many players and different jurisdictions in any single shipment of cargo. A simple and single shipment could involve a bunch of problems associated with pitfalls where the unscrupulous seek to take advantage of those are not prepared. As the players are very often based in multiple jurisdictions, and out of necessity deal with each other at arm ..read more

A district consumer commission has ordered an insurance company to reimburse Rs 2.65 lakh plus compensation of Rs 2.70 lakh to a 55-year-old Colaba woman who had undergone a pacemaker replacement surgery at a prestigious South Mumbai hospital in 2019. The commission chastised the insurance company for its excessively technical approach and adherence to a "pick and choose" theory. The claim was denied by the firm due to the discharge report mentioning that the issue was merely a "pacemaker battery replacement." The commission highlighted, however, that further documentation confirming the pacem ..read more

The primary cause of claims rejection by insurers is non-disclosure of pre-existing medical problems. Because the insured had pre-existing diseases like diabetes or hypertension that were not revealed at the time of purchase, about 25% of health insurance claims are denied. A further 25% of claims are denied because policyholders filed claims for OPD (outpatient department) or other treatments that were not covered by the policy since they were not aware of the terms of cover. A sizable portion (16%) of claims are denied because the claimant did not respond to inquiries. A sizable portion (16 ..read more

In 2022, speeding was the primary cause of seven out of ten deaths on Indian roads, as the number of road fatalities reached a record 1,68,491, along with 4.4 lakh injuries, including nearly two lakh cases of grievously injured drivers. Although driving on the wrong side of the road was the second greatest cause of death for "traffic rule violations," approximately 67,000 people died because they failed to utilise the required "safety devices," which include seat belts and helmets. According to yearly data given by the ministry of road transport and roads, wearing a helmet was a factor in almo ..read more

According to industry statistics from November 2023, stand-alone health insurers have significantly fueled the expansion of the non-life insurance market. In the eight months that concluded in November 2023, the insurance business earned a premium of Rs 1,88,247 crore, according to flash numbers issued by the General Insurance Council. This represents a 13.8% rise over the Rs 1,65,359 crore registered in the same time last year. In the first eight months of FY23, health insurers recorded a total premium of Rs 19,585 crore, a 25% rise above Rs 15,625 crore. Without health insurance firms, the n ..read more

After seeing a 50% increase in the last five trading sessions, New India Assurance has decided to review health insurance rates annually instead of every three years as it has previously done. On the Bombay Stock Exchange, shares of New India Assurance increased 10% during the session to Rs 255.85, while the index increased 0.13%. The firm, which was originally scheduled to make modifications in 2020 after a three-year lapse, postponed its decision because of the pandemic after a 25–30% hike in retail health insurance prices in June—the first in six years. The managing director and chairman of ..read more

With an enterprise value of Rs 940 crore, Max Healthcare Institute Ltd announced that it will purchase Starlit Medical Centre Pvt Ltd, gaining possession of the 550-bed Sahara Hospital in Lucknow. Max Healthcare Institute said in a statement that the company has signed a legally binding share purchase agreement (SPA) to acquire a 100% stake in Starlit Medical Centre. Starlit Medical Centre had previously signed a business transfer agreement with Sahara India Medical Institute to buy the healthcare facility on a slump sale basis. According to Max, the 550-bed Sahara Hospital can accommodate up ..read more