Indian Insurance at a glance by Mahavir Chopra

Indian Insurance at a glance by Mahavir Chopra

News and Reviews – Indian Insurance, typically is divided into 2 parts. The Bigger chunk is Life Insurance. And the second part is any thing that is not Life Insurance. Or in other words Non Life Insurance. This definition is easy to remember and grasp. But, can we really say that Indian Insurance is so simple to present. The answer is NO. Like International Insurance particularly Western World, Indian Insurance is also complex in nature with some serious overlap in Policies, Program and Players. For Example – Health Insurance in India was always sold by traditional Non-Life Insurance Companies which is now being serviced by Life Insurance Companies too. This is not necessary a bad news for consumer as more players means better product and greater saving. However, for simplicity and quick grasping sake, we take liberty to divide Indian Insurance into 5 major segments:1. Personal Lines2. Rural Lines3. Industrial Lines4. Commercial Lines5. Life InsuranceClick to read on for the Insurance Policies falling into each segment….

PERSONAL LINE POLICIES IN INDIA

1. 2 Wheeler Policy – 2 Wheeler Policy indemnifies bona fide owner of the Auto, used for personal purposes against the loss due to damage / theft / burglary of vehicle or any part there of, electrical accessories and also includes cover against liability towards third party personal injury and property damage.

2. Householders Policy: Policy covers risks of different types and protects the house as well as personal effects and household goods.

3. Personal Accident Policy: Policy compensates individuals against accidental injuries resulting in disability or death.

4. Critical Illness Policy: Policy provides exclusive benefit to individuals in the age group 20-65 years who are unexpectedly diagnosed for treatment of critical ailments like Coronary Artery Surgery, Cancer, Renal Failure, Major Organ Transplant, Stroke or Multiple Sclerosis.

5. NRI Accident Policy: Policy covers Non-Resident Indians and family against loss arising from accidental injuries including death.

6. Amartya Siksha Yojana Policy: Policy covers cost of education of student/students in the age group of 4 to 25 years in the event of death of Parent/Guardian thus providing for continuation of studies.

7. Rajrajeshwari Mahila Kalyan Yojana Policy: Specially designed to protect the welfare of women mainly in rural and semi-urban areas.

8. Bhagyashree Child Welfare Policy: Policy provides protection to the girl child in the event of death of either or both the parents.

9. Traffic Accident Policy: Policy provides hospitalization expenses up to Rs. 1 lac and Personal Accident Benefits up to Rs. 1 lac in case of road/rail accidents resulting in injuries/death.

10. Niwas Yojana Policy: Policy insures repayment of housing loan in case of accidental death/Permanent Total Disablement of loanee and also covers residential building and the owner’s permanent fixture and fittings against Fire and allied perils including Flood, Storm, Earthquake etc.

11. Baggage Policy: The BP indemnifies individual or a party against loss/damage to personal effects such as clothing etc carried as baggage during travel.

12. Mediclaim Policy: Provides protection to individuals, families, employers, employees and welfare bodies against heavy financial burden for treatment in hospitals for illness, disease or accident, whether involving surgery or not.

13. Motor Policy: Private Car Policy indemnifies bona fide owner of Motor Car, used for personal purposes against the loss due to damage / theft / burglary of vehicle or any part there of, electrical accessories and also includes cover against liability towards third party personal injury and property damage.

14. Professional Indemnity: The Policy covers liability on account of Errors and Omission of doctors / professionals / CAs / Insurance Agents / Architect etc while rendering professional services.

15. Star National Swasthya Bima Policy: Star National Swasthya Bima policy is a unique Health Policy designed especially for the Account holders of Bank of India. The entire family consisting of the account holder, spouse and two dependent children upto the age of 21 years can be covered under this policy. This policy covers Hospitalization expenses for account holder and family. In case of hospitalization Expenses, the entire family is covered for the Floater Sum Insured as opted for, i.e., either one or all members of the family, as stated above, can utilize the Sum Insured during the policy period.

16. PARIVAR–Mediclaim for Family: This is a Family Floater Health Insurance Policy wherein entire family will be covered under single Sum Insured. The Policy covers reimbursement of Hospitalization expenses for illness/diseases contracted or injury sustained by the Insured Person. In the event of any claim becoming admissible under the policy, the Company either pay directly to the insured if TPA service is not availed by the insured or pay to the Hospital/Nursing Home through TPA the amount of such expenses subject to limits as would fall under different heads mentioned below, as are reasonably and necessarily incurred in respect thereof anywhere in India by or on behalf of such Insured Person but not exceeding Sum Insured (all claims in aggregate) for that family as stated in the Schedule in any one period of insurance.

17. VIDYARTHI-Mediclaim for Students: VIDYARTHI-Mediclaim for Students is a unique policy designed to provide Health and Personal accident cover to the students. It also provides for continuation of insured students education in case of death or permanent total disablement of the guardian due to accident.

18. VARISTHA Mediclaim for Senior Citizens: This policy has been designed to cater to the needs of our Senior Citizens. It covers Hospitalization and Domiciliary Hospitalization Expenses under Section I as well as expenses for treatment of Critical Illnesses, if opted for, under Section II. Diseases covered under Critical Illnesses are as under: • Coronary Artery Surgery • Cancer • Renal Failure i.e. Failure for both kidneys • Stroke • Multiple Sclerosis • Major Organ Transplants like kidney, Lung, Pancreas or Bone marrow • Paralysis and blindness at extra premium.

RURAL LINE POLICIES IN INDIA

1. Cattle / Livestock Insurance Policy indemnifies against loss sustained due to loss of life of cattle / livestock.
2. Sheep and Goat Insurance Policy indemnifies against loss sustained due to loss of life of Sheep or Goat.
3. Elephant Insurance Policy provides indemnity to insured for the loss sustained by him due to death of his elephant used for commercial/religious purpose. Policy does not provide cover to circus elephants.4. Dog Insurance Policy covers death of pet dogs of Cross-bred and exotic breeds between the age group of 2 months to 8 years.
5. Brackish Water Prawn Insurance Policy covers Total loss of prawns, Nursed seeds in hatcheries owned by state Government, FFDAS, State Fisheries Corporation, MPEDA or such other organizations.
6. Silkworm (Sericulture) Insurance Policy covers total or partial loss due to death of silk worms of different variety due to disease or accident.
7. Janata Personal Accident Insurance Policy Covers individuals in the age group of 10-70 years against death or total / partial disablement.
8. Horticulture/Plantation Insurance Policy covers Loss or Damage to the Insured tree / plant due to fire / lightning / storm / hailstorm / cyclone / tempest.
9. Kisan Agriculture Pumpset Insurance Policy covers centrifugal pump sets (Electrical and Diesel oil) submersible pump sets up to 25 HP used for agricultural purposes against Electrical/Mechanical Breakdown, Fire /Lighting, Theft and Burglary, Riot/Strike/Malicious damage etc.

INDUSTRIAL LINE POLICIES IN INDIA

1. Erection All Risks Insurance (EAR): Erection All Risk Insurance provides cover for projects involving equipment and other similar erections.

2. Contractors All Risks Insurance (CAR): Contractors All Risks Insurance caters to the need of projects which predominantly involves civil work like construction of multi storied buildings, flyovers, bridges etc.

3. Machinery Insurance (MI): Machinery Insurance provides insurance protection to both rotating as well as static equipment while at work or at rest against mechanical and electrical breakdown and also human error and negligence.

4. Electronic Equipment Insurance (EEI): Electronic Equipment Insurance caters to the peculiar needs of the electronic equipments which are not only extremely sensitive to the slightest changes in ambience conditions but also are characterized by having a large value concentration in a relatively compact set ups.

5. Consequential Loss (Fire) Policy: Consequential Loss (Fire) policy provides the most commonly sought after protection for business interruption triggered by fire and allied perils.

6. Standard Fire and Special Perils Policy: Fire Insurance provides cover against a host of perils ranging from fire, lightening, explosion/implosion, aircraft damage etc as well as act of God perils.

7. Workmen Compensation Insurance: This policy provides indemnity to the Insured against liability to pay compensation if any employee in the Insureds service sustain bodily injury by accident or contracts disease arising out of and in the course of his employment.

8. Product Liability Insurance: The policy indemnifies the insured against legal liability to third parties for death / bodily injury or damage to property arising out of use of the product sold to them.

9. Public Liability Insurance: This policy indemnifies the insured against legal liability to pay compensation to third parties for death /bodily injury or damage to property arising out of accidents out of insured’s business.

COMMERCIAL LINE POLICIES IN INDIA

1. Burglary (Business Premises) Policy: Covers loss due to theft and burglary of movable properties like stock-in-trade, plant and machinery, furniture, fittings etc followed by virulent and forceful entry or exit.

2. Shopkeepers Policy: This policy is specifically devised for small shopkeepers having building and stock value limited to less than or equal to Rupees ten lacs. The policy covers host of risks like stock in trade, building, furniture, money-in-transit, business interruption etc. and indemnifies the insured loss due to any of the perils covered.

3. Bankers Indemnity Policy: This Policy is specially designed for banks to provide indemnity against direct loss suffered by them (excluding Non Banking Financial Institutions). The policy covers loss of Money and/or Securities inside Bank or while In Transit, Forgery or Alteration, Dishonesty of employees etc.

4. Office Package Policy: This policy provides a package of various covers required by an office establishment including cover for buildings, the Landlords Fixture and Fittings, Boundary Walls and Fences, Canteen etc. Office contents, equipments, cover for employees, Public Liability etc all built in one policy.

5. Glass Insurance: The policy covers loss due to accidental breakage of plain and ordinary glazed glasses without embossing, silvering, lettering, bending or ornamented fitted to doors, windows, show-cases, counters and shelves. Crockery’s are not insurable under Glass Insurance.

6. Money Insurance Policy: indemnifies insured against loss of Cash, Currency Notes, Coins, Securities, Postal Orders, Stamps, Cheques etc. whilst in transit or in locked safe.

7. Jewelers Block Policy Covers loss of or damage to the stock in trade and also cash and currency notes while contained in the premises where the insured’susiness is carried on or at other premises where the property insured is deposited.

8. Extended Warranty Policy: Policy provides extended warranty to prospective buyers of vehicle, over and above the normal warranty provided by Manufacturers / Authorized dealers of vehicles like cars and two wheelers.

9. Directors and Officers Liability Policy: Policy indemnifies legal liability to third party due to wrongful act by Directors and Officers of any company but excludes dishonest, fraudulent, criminal or malicious act, personal guarantee, libel and slander and damage to property and pollution damage.

10. Fidelity Guarantee Policy: The term ‘Fidelity Guarantee Insurance’ embraces policies indemnifying employers against financial loss on account of forgery, defalcation, embezzlement and fraudulent conversion by employees. The object is to provide protection in respect of the default of an individual acting in some capacity such as Cashier, Accountant, Store-keeper etc. The cover may be required in respect of a single employee or a number of employees.

LIFE INSURANCE POLICIES IN INDIA

1. Children Policy

2. Handicapped dependent Policy

3. Endowment Policy

4. High Net-worth (HNI) Policy

5. Money back Policy

6. Money back Policy for Women

7. Whole Life Policy

8. Term Life Policy

9. Joint Life Policy

10. Mortgage / Home Loan Policy

By

Mahavir Chopra

CEO - Bonsai Insurance Broking

Mahavir@InsuranceMall.in

Insurance Online - http://www.insurancemall.in/

Corporate Insurance - http://www.insurnacebrokerindia.com/

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JOKES - Top 10 Ideas on 'Out of Office' reply

NEWS and REVIEWS JOKES - Some where in the Silicon Valley, a geek’s notion of “Out Of Office” reply

1- I am currently out at a job interview and will reply to you if I fail to get the position. Be prepared for my mood.

2- You are receiving this automatic notification because I am out of the office. If I was in, chances are you wouldn’t have received anything at all.

3- Sorry to have missed you but I am at the doctors having my brain removed so that I may be promoted to management.

4- I will be unable to delete all the unread, worthless emails you send me until I return from vacation on 5/18. Please be patient and your mail will be deleted in the order it was received.

5- Thank you for your email. Your credit card has been charged $5.99 for the first ten words and $1.99 for each additional word in your message.

6- The e-mail server is unable to verify your server connection and is unable to deliver this message. Please restart your computer and try sending again. (The beauty of this one is that when you return, you can see how many in-duh-viduals did this over and over).

7- Thank you for your message, which has been added to a queuing system. You are currently in 352nd place and can expect to receive a reply in approximately 19 weeks.

8- Hi! I’m busy negotiating the salary for my new job. Don’t bother to leave me any messages.

9- I’ve run away to join a different circus.

10. AND, FINALLY, ABSOLUTELY THE BEST ‘Out of Office’ Reply: I will be out of the office for the next 2 weeks for medical reasons. When I return, please refer to me as ‘Loretta’ instead of ‘Anthony’.

Hollywood Movie Review: WALL- E (2008)

Hollywood Movie Review: WALL-E

Movie Review: WALL-E

Director: Andrew Stanton

Producer: Jim Morris

Voice: Jeff Garlin, Benjamin Burtt, Kim Kopf, Fred Willard

Distribution: Walt Disney Pictures

Rating: 3.75 on 5.00 Stars

(News and Reviews): WALL-E in a nut-shell is a small but a cute movie. If you love animation and a big fan of PIXAR / Walt Disney Pictures, then WALL-E will not disappoint you. Yes, this animation with high end visual effects has one exception – it has no dialogues or sub-titles. It is a near silent movie. Well, I guess that is the genius of Director Andrew Stanton, who has managed to narrate theme and heart touching story of Wall-E without words.

WALL-E (an acronym for Waste Allocation Load Lifter Earth) is a primitive but smart & lonely robot left on earth. He is seen cleaning mess / junk on earth (read NYC in USA) as humans no longer find mother earth habitable to stay here. There are no plants, no animals or green sky. The earth looks like a dump-yard with only 2 moving thing around – a) WALLE and b) Cockroach. This is 700 years from the present time. An auto-pilot firm B&L (no full-form available), managed by machines, control every thing every resource now, including human beings. Civilization now stays in a close but conditioned atmosphere in a huge space ship some where in the universe, having lost complete touch from earth or living beings.

In a very subtle way the Writer & Director Andrew Stanton sends message that we can’t pollute earth with non-recycled garbage as it will lead to a disaster. No, don’t worry, Wall-E is not a social message movie or is based on environmental propaganda theme but actually a love story between 2 machines i.e. Mr WALL-E and Ms Eva.

One fine day an alien ship lands on Earth (NYC) bringing a beautiful spotless white flying object (Robot) Ms Eva to search life on earth. Wall-E is thrilled as he longs for a company. He is bored being all alone amongst the heap of garbage, dust and junk. However, he soon realizes that she is different and way advance in-terms of technology or raw power. But as they say, love is blind so Mr Walle follows her and the cause. The movie picks up from here. You will love to see it at theaters. I am happy to give it 3.75 on 5 stars.

Cheers !

Manish J

for

News and Reviews

The Hanuman Chalisa - praise for Lord Hanuman, explained and shared

The Hanuman Chalisa - praise for Lord Hanuman, explained and shared

I have been a strong Hanuman believer since my childhood days. Though, not a strong one going to temple every week or every occasions, but heart-to-heart, always felt connected with the mighty God of my Hindu faith. Lord Hanuman has been my guide and path-bearer since the time I could remember gaining consciousness and growing-up in Patna. However, I was pretty late in picking-up ‘The Hanuman Chalisa’ by-heart. Even today, after so many years and perhaps with uncounted chantings, according to my wife, I still miss few words which is a shame for a religious devout like me. But then, that is me and I am sure my Lord Hanuman will pardon me for that.

Every time, I would read Hanuman Chalisa and wonder what it means really? We all know, Hindu fiath existing for last 3000 yrs, with over 1.00 billion faithfull in India and across the world, has many Gods and many interpretation, so there is no one teaching or Mono-History. Of Course, Lord Hanuman is omni-present from Kashmir to Kanya-kumari, from Goa to Calcutta, around and beyound, one can’t fathom, but I must admit that ‘The Chalisa’ was never understood 100% by me, till today.

My best frined Nishit Srivastava sent me the meaning of “Hanuman Chalisa” and I was too impressed to read it, thus desided to put it on my morning blog. I am sure, not every one is as ignorant as me about Hanuman Chalisa, but this English version interpretation of Hanuman Chalisa will be a good guild for many who wants to know more about our Monkey God Hanuman (Son of Maruti (air) and Shiva avatar.

Here it goes. Read, Enjoy and Believe that “Good is always Good”

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Shree Hanuman Chalisa

Shree Guru Charan Saroj Raj, Nij Man Mukar Sudhari,
Barnau Raghuvar Bimal Jasu, Jo dayaku Phal Chari

With the dust of Guru’s Lotus feet, I clean the mirror of my mind and then narrate the sacred glory of Sri Ram Chandra, The Supereme among the Raghu dynasty. The giver of the
four attainments of life.

Budhi heen Tanu Janike, Sumirow, Pavan Kumar, Bal Buddhi
Vidya Dehu Mohi, Harahu Kalesh Bikaar

Knowing myself to be ignorent, I urge you, O Hanuman, The son of Pavan! O Lord! kindly Bestow on me strength, wisdom and knowledge, removing all my miseries and blemishes.

Jai Hanuman Gyan Guna Sagar Jai Kipis Tihun Lok Ujgaar
Victory of Thee, O Hanuman, Ocean of wisdom and virtue, victory to the Lord of monkeys who is well known in all the three worlds.

Ramdoot Atulit Bal Dhamaa, Anjani Putra Pavansut naamaa.
You, the Divine messager of Ram and repository of immeasurable strength, are also known as

Anjaniputra and known as the son of the wind - Pavanputra.

Mahebeer Bikram Bajrangi, Kumati Nivaar Sumati Ke Sangi.
Oh Hanumanji! You are valiant and brave, with a body like lightening. You are the dispeller of darkness of evil thoughts and companion of good sense and wisdom.

Kanchan Baran Biraaj Subesaa, Kanan kundal kunchit kesa.
Shri Hanumanji’s physique is golden coloured. His dress is pretty, wearing ‘Kundals’ ear-rings and his hairs are long and curly.

Hath Bajra Aur Dhvaja Birjai, Kandhe Moonj Janeu saage.
Shri Hanumanji is holding in one hand a lighting bolt and in the other a banner with sacred thread across his shoulder.

Shankar Suvna Kesari Nandan, Tej Pratap Maha Jag Vandan.
Oh Hanumanji! You are the emanation of ‘SHIVA’ and you delight Shri Keshri. Being ever effulgent, you and hold vast sway over the universe. The entire world proptiates. You are adorable of all.

Vidyavaan Guni Ati Chatur, Ram Kaj Karibe Ko Atur
Oh! Shri Hanumanji! You are the repository learning, virtuous, very wise and highly keen to do the work of Shri Ram.

Prabhu Charittra Sunibe Ko Rasiya, Ram Lakhan Sita man basyia.
You are intensely greedy for listening to the naration of Lord Ram’s lifestory and revel on its enjoyment. You ever dwell in the hearts of Shri Ram-Sita and Shri Lakshman.

Sukshma roop Dhari Siyahi Dikhwana, Bikat roop Dhari Lank Jarawa
You appeared beofre Sita in a diminutive form and spoke to her, while you assumed an awesome form and struck terror by setting Lanka on fire.

Bhim roop Dhari Asur Sanhare, Ramchandra Ke kaaj Savare.
He, with his terrible form, killed demons in Lanka and performed all acts of Shri Ram.

Laye Sajivan Lakhan Jiyaye, Shri Raghubir harashi ur laye.
When Hanumanji made Lakshman alive after bringing ‘Sanjivni herb’ Shri Ram took him in his deep embrace, his heart full of joy.

Raghupati Kinhi Bahut Badaai, Tum Mama Priya Bharat Sam Bahi.
Shri Ram lustily extolled Hanumanji’s excellence and remarked, “you are as dear to me as my own brother Bharat".

Sahastra Badan Tumharo Jas Gaave, Asa kahi Shripati Kanth Laagave.
Shri Ram embraced Hanumanji saying: “Let the thousand - tongued sheshnaag sing your glories".

Sankadik Brahmadi Muneesa, Narad Sarad Sahit Aheesa
Sanak and the sages, saints. Lord Brahma, the great hermits Narad and Goddess Saraswati along with Sheshnag the cosmic serpent, fail to sing the glories of Hanumanji exactly

Jam Kuber Digpal Jahan Te, Kabi Kabid Kahin Sake Kahan Te
What to talk of denizens of the earth like poets and scholars ones etc even Gods like Yamraj, Kuber, and Digpal fail to narrate Hanman’s greatness in toto.

Tum Upkar Sugrivahi Keenha, Ram Miali Rajpad Deenha
Hanumanji! You rendered a great service for Sugriva, It were you who united him with SHRI RAM and installed him on the Royal Throne.

Tumharo Mantro Bibhishan Maana, Lankeshwar Bhaye Sab Jag Jaana.
By heeding your advice. Vibhushan became Lord of Lanka, which is known all over the universe.

Juug Sahastra Jojan Par Bhaanu, Leelyo Taahi Madhur Phal Jaanu
Hanumanji gulped, the SUN at distance of sixteen thousand miles considering it to be a sweet fruit.

Prabhu Mudrika Meli Mukha Maaheen, Jaladhi Langhi Gaye Acharaj Naheen.
Carrying the Lord’s ring in his mouth, he went across the ocean. There is no wonder in that.

Durgam Kaaj Jagat Ke Jeete, Sugam Anugrah Tumhre Te Te.
Oh Hanumanji! all the difficult tasks in the world are rendered easiest by your grace.

Ram Duware Tum Rakhavare, Hot Na Aagya Bin Paisare.
Oh Hanumanji! You are the sentinel at the door of Ram’s mercy mansion or His divine abode. No one may enter without your permission.

Sab Sukh Lahen Tumhari Sarna, Tum Rakshak Kaahu Ko Darnaa.
By your grace one can enjoy all happiness and one need not have any fear under your protection.
Aapan Tej Samharo Aapei, Tanau Lok Hank Te Kanpei
When you roar all the three worlds tremble and only you can control your might.

Bhoot Pisaach Nikat Nahi Avei, Mahabir Jab Naam Sunavei.
Great Brave on. Hanumanji’s name keeps all the Ghosts, Demons & evils spirits away from his devotees.

Nasei Rog Hare Sab Peera, Japat Niranter Hanumant Beera
On reciting Hanumanji’s holy name regularly all the maladies perish the entire pain disappears.

Sankat Te Hanuman Chhudavei, Man Kram Bachan Dhyan Jo Lavei.
Those who rembember Hanumanji in thought, word and deed are well guarded against their odds in life.

Sub Par Ram Tapasvee Raaja, Tinke Kaaj Sakal Tum Saaja
Oh Hanumanji! You are the caretaker of even Lord Rama, who has been hailed as the Supreme Lord and the Monarch of all those devoted in penances.

Aur Manorath Jo Koi Lave, Soi Amit Jivan Phal Pave.
Oh Hanumanji! You fulfill the desires of those who come to you and bestow the eternal nectar the highest fruit of life.

Charo Juung Partap Tumhara, Hai Parsiddha Jagat Ujiyara.
Oh Hanumanji! You magnificent glory is acclaimed far and wide all through the four ages and your fame is radianlty noted all over the cosmos.

Sadho Sant Ke Tum Rakhvare, Asur Nikandan Ram Dulare.
Oh Hanumanji! You are the saviour and the guardian angel of saints and sages and destroy all the Demons, you are the seraphic darling of Shri Ram.

Ashta Siddhi Nau Nidhi Ke Data, Asa Bar Din Janki Mata.
Hanumanji has been blessed with mother Janki to grant to any one any YOGIC power of eight Sidhis and Nava Nidhis as per choice.

Ram Rasayan Tumhare Pasa, Sadaa Raho Raghupati Ke Dasa.
Oh Hanumanji! You hold the essence of devotion to RAM, always remaining his servant.

Tumhare Bhajan Ramko Pavei. Janam Janam Ke Dukh Bisravei.
Oh Hanumanji! through devotion to you, one comes to RAM and becames free from suffering of several lives.

Anta Kaal Raghubar Pur Jai, Jahan Janma Hari Bhakta Kahai.
After death he enters the eternal abode of Sri Ram and remains a devotee of him, whenever, taking new birth on earth.

Aur Devata Chitt Na Dharai, Hanumant Sei Sarva Sukh Karai
You need not hold any other demigod in mind. Hanumanji alone will give all happiness.

Sankat Kate Mitey Sab Peera, Jo Sumirei Hanumant Balbeera
Oh Powerful Hanumanji! You end the sufferings and remove all the pain from those who remember you.

Jai Jai Jai Hanuman Gosai Kripa Karahu Gurudev Ki Naiee
Hail-Hail-Hail-Lord Hanumanji! I beseech you Honour to bless me in the capacity of my supreme ‘GURU’ (teacher).

Jo Sat Baar Paath Kar Koi, Chhutahi Bandi Maha Sukh Hoi.
One who recites this Hanuman Chalisa one hundred times daily for one hundred days becames free from the bondage of life and death and ejoys the highest bliss at last.

Jo Yah Padhe Hanuman Chalisa, Hoy Siddhi Sakhi Gaurisa
As Lord Shankar witnesses, all those who recite Hanuman Chalisa regularly are sure to be benedicted.

Tulsidas Sada Hari Chera, Keeje Nath Hriday Mah Dera.
Tulsidas always the servant of Lord prays. “Oh my Lord! You enshrine within my heart.!

Chopai

Pavan Tanay Sankat Haran , Mangal Murti Roop. Ram Lakhan Sita Sahit, Hriday Basahu Sur Bhoop.

O Shri Hanuman, The Son of Pavan, Saviour The Embodiment of blessings, reside in my heart together with Shri Ram, Laxman and Sita.

Golden Bihar - Is it true ?

Golden Bihar - Is it true ?

I recently came across some data (not sure how authentic, but looks one) on Golden State Bihar that is motivating, hence thought putting the same for NRI readers. ENJOY.

* Bihar has more number of Graduate than Andhra Pradesh and Kerala
combined?

* More Biharis are doctors than Punjab and Gujarat combined?

* Bihar has produced more number of IAS officer than Kerala, Karnataka, Tamil Nadu , Andhra and Gujarat combined?

* More Biharis are bank probationary office than any other state?

* More Biharis are in IIT compare to Maharashtra and Gujarat? This year IIT topper is from Bihar.

* Delhi University, North Campus - the seat of India education has more
Bihari toppers in every field than locals.

* Murder rate in Bihar is half of murder rate in Mumbai?

* Rape in Bihar is 1/10th of Delhi?

* Number of people killed in Bihar in communal violence is 1/75 th of
Gujarat?

* Naxalites in Bihar have killed less people than in Andhra Pradesh?

* Bihar produces more wheat than Punjab?

* Bihar is only large state where no farmer committed suicide?

* More Bihari Girls complete Graduation than Kerala

Still we have a long way to go in reducing poverty, corruption and lethargy. However, the credit for changing perception should go to the current CM Mr Nitish Kumar and also millions of Biharis, who despite many odds - in terms of lagging growth of the divided State (Jharkhand) / migrated (Delhi) education and social backwardness are still shinning on every sphere of India success story. I salute my state where I was born, raised and got the first education.

Cheers!

Manish K. Jaiswal

manish@bonsaiinternational.com

Erasmic Venture funds FileMyReturns.com - News and Reviews

Erasmic Venture funds FileMyReturns.com - News and Reviews

News and Reviews - eServices funding is in news again. Software-as-a-Service (SaaS) is turning a favourite business model to back for investors. The latest such venture to get backing by early stage VCs is Fin-e-ssential Infotech India Ltd, a Mumbai based company that had its origins during the dotcom boom of 1999-2000 as an online tax filing company (www.filemyreturns.com), and now metamorphosed into a payroll and HR process management company based on the principle of SaaS. Fin-e-ssential has received investment (estimated to be under $1 million) from Mumbai Angels and Erasmic Venture Funds, a Bangalore based early stage venture capital firm.

The company was founded by Prasad Rajappan, who got inspired by an unexpected income tax notice he received in 2000. Rajappan had to seek the help of a chartered accountant friend to sort out the IT notice. He smelt an opportunity here as there were millions of people (Indian taxpayer’s last count is 31. 5 million, which is expected to touch 50 million in the next couple of years) who needed some help in filing their returns.

FileMyReturns? is only one of a host of services (under the umbrella brand Cnergyis) provided by Fin-e-ssential. The company now provides a range of payroll, HR, retiral benfits and tax solutions and services to consumers and corporate clients. For instance, it charges Rs 25,000 a month for managing the payroll and HR management of a company which has under 500 employees. The company also offers enterprise solutions such as MyPFManger? a service offered to corporate houses to manage their PF Trust for advisory, operational and fulfillment services. The company has around 32 corporate clients including Reliance ADAG Group, Johnson & Johnson, UTI, HDFC, and so on. The company handles payrolls of more than 1.4 lakh employees, of about Rs 120 crore worth of salaries per month.

“Outsourcing payroll and HR management allows expert to handle that work. There is continual technological innovation in this field which others might not be able to handle,” says Rajappan. “We plan to expand our India operations in next six months and then we will plan to venture into new markets such as Asia-Pacific and US,” says Rajappan. The company plans to have 5 million employee records in the next 3 to 4 years. It also plans to raise another round of funds in the next 5 to 8 months.

For Mumbai Angels, this is the second SaaS company they have backed in the last few months. They had invested $250K along with a few other individual investors in Textual Analytics Solutions, a company that provides text-to-report output to research firms and consultancies on a SaaS model. Mumbai Angels has invested in six companies so far which include Canvera and mKhoj.

Erasmic Ventures has 12 companies in its portfolio, which has companies like Chakpak (movie review), HolidayIQ? (vacation and holiday guide), among others.

http://www.filemyreturns.com/ (FMR) has competition from BuyNowIndia.com (BNI) partner http://www.taxcubeindia.com/. Only time will tell who wins the race. Right now, FMR is a step ahead.

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Nordic carrrier Finnair expands India services - News and Reviews

News and Reviews : With flights to India driving its growth, Nordic carrier Finnair is adding one more flight to India Saturday as it awaits permission from the government to add more destinations, in addition to Mumbai and Delhi.

“We currently operate seven flights a week to Delhi from Helsinki and five more to Mumbai. From this week, we are adding one more flight to Mumbai,” said Taina Tornstrom, the director for Indian subcontinent for the airline. “We also want to add more destinations and hope we get the permission after the next aviation pact with India,” Tornstrom told IANS, adding, Finnair’s Asian passenger traffic grew over 30 percent last year, thanks to India operations. She said the market potential in Indian was promising, as some 70 Finish firms like Nokia and industrial cranes major Kone had a major presence in the country. Likewise, Indian software giants like Infosys, Sasken and Wipro also had their bases in Finland.

Bangalore and Chennai are two cities Finnair is eyeing closely, even as it has begun to tap the growing Indian traffic to Europe and North America from India, with Helsinki as the base.
The Finnair official said the visas issued to Indians by the Finnish embassy in India had also increased from 40,000 in 2006 to around 60,000 in 2007 to reflect the growing interest in Finland here. “We have Santa. We have lakes. We have saunas. We have the reindeer. We have northern lights. The interest is really growing.”

Finnair officials said their carrier offered the shortest possible links between Europe and India, and with improved connectivity, its services between India and the US, too, has been upgraded in terms of time. “We offer the second-fastest connection between Mumbai and New York. It just takes 17 hours,” Tornstrom said. The Air India flights between the two destinations, the shortest currently, take around 15:30 hours.

More flights to Finland is indeed a good news for Indian business and leisure travellers.

News and Reviews - Travelling to Finnland?

Honestly, now you don’t need to wait for an agent to chase you for your Travel Insurance Policy. You could Click-Compare-Buy your policy online, across Insurance companies, at your own pace only from Insurance Mall. Just click your choice link below and you are all set:

• Compare and Buy Indian Travel Insurance (Resident Indians only)

• Compare and Buy Schengen Visa Insurance (All Citizens upto age 99)

• Compare and Buy Global Visitors Medical Insurance (All Citizens upto age 99)

Indians traveling to U.S. increase by 80 percent

News and Reviews - There has been 80 percent increase in visas for Indians traveling the U.S, says to Michael S. Owen, Consul General in Mumbai.

In 2007, 2.26 lakh visas were issued, compared to 1.25 lakh in 2006. “Though the government-to-government contacts are important, people-to-people contacts are more important for the relationship,” Owen said while delivering the Lincon Memorial Lecture organized by Indo-American Chamber of Commerce.

“The Indo-U.S. relationship has come a long way from what it used to be in the Cold War era,” he said. The turning point in bilateral ties was former U.S. President Bill Clinton’s visit to India.
Owen said many experts were against the visit after India conducted nuclear tests. Still, Clinton was of the view that India will be an important global force in coming years. “Now, India is considered to be a strategic partner by the United States,” said Owen. “Apart from the Indo-U.S. nuclear deal, the two countries have reached an open skies agreement. Both sides are also engaged in a agriculture knowledge initiative, a space cooperation program and military cooperation,” he added.

The hoard of people coming to America is a clear reflection of Indians being accepted in United States. Students / Trainees / Business Folks and Leisure Travelers find United States of America a great destination that would hone their skills and throw wealth creation opportunities in big way.

It is a welcome news for India and America.

News and Reviews - Travelling to USA? Honestly, now you don’t need to wait for an agent to chase you for your Travel Insurance Policy. You could Click-Compare-Buy your policy online, across Insurance companies, at your own pace only from Insurance Mall. Just click your choice link below and you are all set:

• Compare and Buy Indian Travel Insurance (Resident Indians only)

• Compare and Buy American Travel Insurance (Resident Americans only)

• Compare and Buy Global Visitors Medical Insurance (Any Citizens upto age 99)

Review on the new look mouthshut.com

News and Reviews : Running a user driven website today viz. MouthShut.com is like running and participating in a nascent Democracy. No way, every one will be happy. I guess that is the summary of customer feedback for MS.

The challenge for MS type of sites (without having own inventory or products) is content and quality. Unfortunately, you can’t filter and control too much, lest you will lose the appeal. May be that is the case with MS.

Of course, some of Faisal’s team could be biased to promote a particular type of User / Blog / Reviews or bashing, but I guess overall he has done a fine job with his MS initiative.

If I were to recommend changes, I would do the followings:

1. Remove Google Ad’s from Reviews space. It is irritating for readers. There are other ways of making marketing revenue to sustain the business cost.

2. Genuine News and Reviews about People, Product and Places at Mouthshut.com should be rewarded based on Reader Hits and Feedback.

3. My Diary Post should be 100% free for the individual inserts, without any control and censorship from MS Team. Let this also be rated as other reviews. This will build more interaction with MS Members and that will push MS Alexa Ranking.

4. Mouth-Pad approval response is very-very slow. They are taking over 15-20 days to approve a new review. By that time, story and excitement is over. May be the reviewers are not competent to judge or decide quickly.

5. International Appeal - MouthShut.com is run by an NRI but it has very limited international appeal. Not many people know about it in United States where I stay.

6. Look and Feel – MouthShut.com new look is good but still way behind for a site that has Alexa Ranking as high as 3K.

Over all a good site. I would rate MouthShut.com 3.5 on 5 Stars.

Cheers to Faisal and the MouthShut? Team!

Manish Jaiswal
CEO – Bonsai Insurance Brokers
India InsuranceMall? ; USA InsuranceMall

Health Insurance in America

OK… In the series of my writings on Insurance and particular Health Insurance, I feel like dwelling more for the benefit of 6.00 Million Indian Americans residing in United States. Here it goes…

Amongst the expenses for Americans, Health cost could be easily adjusted as top 3 monthly expenses after Mortgage (Rent) and Food. For lucky ones who get the Health Cover from their employer, the cost may not exist, but for the Self Employed / Students or Retirees, the cost is un-bearable and growing year on year. I am sure, India is no different now, but still health cost is not as expensive as in America. It will not be an aberration to mention that falling sick without medical Insurance in United States is a sin, thus every resident as well as visitor to this country must ensure that he or she is adequately covered. The bad news is that over 40 million resident Americans are not even having a basic cover.

Even someone having a Health Card (Insurance), one may not really know what is covered or not, unless one has read the Policy fine prints on Inclusions or Exclusion. A simple common exclusion could be Ambulance charge. Thus the thumb rule is that any thing less than USD 500K Comprehensive Coverage for a family of 4 will fall short in case of medical emergencies. You are in better position, incase you are part of the Group Health Plan purchased by your company. Higher the members in your plan, better you are in terms of coverage and inclusions.

Individual or Family Health Insurance holder may not get the renewal, if the claims were high last year. To protect millions, Lawmakers in several American states are limiting insurers' ability to cancel health policies for consumers who buy their own coverage. It is been reported that over 18 million people have individual or family coverage in United States.

Unlike group health policies offered by employers, individual plan may require applicants to submit many years' worth of detailed medical information. The insurers use that information in deciding whether to offer coverage and how much to charge. Most states allow insurers to revoke an individual policy — generally within two years (called contestable period in Insurance parlance) of granting it — if they find an applicant lied or inadvertently omitted information on an application. Cancellation of a policy is retroactive. Patients must pay for all their past medical care, even if the insurer previously approved and paid for the care. There is little nationwide data on the extent of cancellations.

Prompted by numerous consumer complaints and lawsuits against insurers, state lawmakers are finally taking some action. Worth mentioning are :

• New Mexico : The Legislature this month passed bills requiring insurers to show that applicants deliberately gave incorrect information on an application. Current law allows cancellation if the error or omission was inadvertent.

• Connecticut : In October, a new law took effect requiring approval from the state insurance commissioner before an insurer can cancel an existing policy.

• California : Legislation introduced last week would require insurers who want to cancel a policy to first win approval from the state's Department of Managed Health Care. Last year, legislators adopted a law requiring insurers to pay for any medical treatment they approve, even if they later cancel the policy. California state regulators have announced cancellation-related fines against some insurers, including Blue Cross, Kaiser Permanente and Blue Shield of California.

• New York : The Governor Eliot Spitzer may come out with some limiting clause soon.

Insurance companies argue that only a small percentage of policies are cancelled vis-à-vis the live policies. They say the action is necessary to protect against fraud, such covering up medical conditions. "To the extent that applicants aren't honest and forthright about their health care status, that means costs are shifted to everyone else," says Karen Ignagni, president of the industry lobbying group America's Health Insurance Plans. I kind of agree with this argument. USA Today reports that Blue Cross of California has said it cancels less 1% of all new policies.
This debate will go on but fact of the matter is that Insurance in America is expensive. It is expensive because managing Health Care (Doctors / Medicines & Infrastructure) is really expensive out here.

Fortunately for Indians in America (Non Citizens only) or any where in the world, one can buy less expensive American Health Insurance from http://USA.InsuranceMall.in (Click Visitors Health). There is no medical test required and the Health Card could be printed On-line today. The (Visitor)Health Insurance Plan is created exclusively for non Americans and is cheaper vis-à-vis American Health Insurance for Americans. It could be a good Health Policy for you if you are H1 / L1 / F1 / J1 and Green Card Visa Holder in United States.

Cheers. Enjoy and Stay safe.

Manish Jaiswal
CEO – Bonsai America, Inc.
http://usa.insurancemall.in/


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