Sunday, 24 March 2013

Insurance buying in India

Based on the life-insurance buying habits of individuals, we can categorize most Indians in two categories: those who buy insurance and those who don't, barring a very few who do not fall in any categories, more on them later.
Those who buy insurance buy all types of insurance products like ULIPs, moneyback, or endowment except the term insurance. And none of these products are really meant to insure the buyer but designed to help the agent who sells the product earn huge commission or designed to accumulate lot of cash for the insurance companies. None of these products insures anyone sufficiently still they sell because the poor buyer knows nothing about insurance.
Those who don't buy any insurance are anyway uninsured so nothing to talk about here.
Then there is a very tiny number of people, whom we can call enlightened, who buy term insurance which really should be bought for the real purpose. But among them also many buys insufficient amount, many don't give correct info to insurance company about themself so claims are rejected when done be family.
Such is the frightening state of insurance in India.

Saturday, 23 March 2013

Democracy: A new modern definintion

As languages develop the meaning of words change over time, that's a well known fact. Normally it's a good sign and shows how the language is evolving. Word "nice" used to mean stupid in 13th century but now it means good. But this could be very very dangerous as well. As you would see in case of word "democracy". Real meaning of this word as per language can be expressed well by Lincoln's words as  "government of the people, by the people, for the people." This was very well until few years but not any more.
Now the definition of the word democracy has become "government of the politicians, by the media, for the politicians and lobbyists." The word people which appeared thrice in original definition has now completely disappeared from the modern definition. The reason being that the government is no more for people now.
Today govts world over are run by politicians with a view to not to help citizens to solve their issue or make their life better but to win next election. Entire media is now in few influential hands who cut deals with politicians to present only that news which is favourable to ruling class and suppress or hide anything else. everywhere media has become very biased towards political class these past few years that it never present a true picture to the general public.
Similarly the main aim of the elected ruling class is to work for them self and for their funding friends who provide funds during elections. Most of the laws are now written by lobbying firms who who work behind the scene and write rules which favours industries and not the people. Politicians hesitate taking those decisions which are obviously favourable as such rules will be against the industry.
So we should wait until Oxford release  new version of their dictionary with new definition of word "dictionary". Welcome to information age.

Remembering Einstein during current recession

Insanity: doing same thing over and over again and expecting different results. That's how insanity was defined by Einstein around a century ago.
All the politicians and central bank's bosses all around the developed world should then be labelled as "INSANE" as per the above definition as they have been trying same remedy (quantitative easing, saving banks and supporting artificially housing market from crashing ) for over last 5 years in order to revive the economies but have been unsuccessful. In spite of continuous failure so long they are not ready to try new remedy (which is just the opposite).
I wonder what is going to happen to our future if insanes are ruling us?

Tuesday, 19 March 2013

Cyprus: A nerve wrecking tool in hands of fools oops...politicians

For over past 5 years, democratically elected popular(?) governments in the western world are devising ways in which they can rob the citizens of their countries in broad daylights. and luckily for them (govt.), they have been successful so far as the citizens are too busy in making both ends meet and in daily drudgery of life   that they have not yet noticed all that is being done to them and their future.
But the day light robbery went all the way to shocking level when Cypriot politicians agreed to simply steal simply 10% of saving of pensioners, poor earners who saves little by little for their and their kids' future, to do what? not to build some infrastructure in Cyprus, or to help poor or to fund some future science project. But simply to save their masters/partners-in-(white) crime, the bankers who had been receiving their bonus until the last quarter. 
Such nakedness is so common now across the west and  it's becoming standard that politicians in rest of world may be tempted to follow them. 
when are we going to see justice when actual guilty is blamed but not saved by 1000 covers?