Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Suresh Ramasubramanian
There are plenty of other ways to invest and save and I personally never touch insurance plus investment products. --srs (htc one x) On 24 April 2013 9:11:57 AM thew...@gmail.com wrote: A lot of the selling is by the local 'family friend' who moonlights as an agent, or by the branch manager

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread thewall
A lot of the selling is by the local 'family friend' who moonlights as an agent, or by the branch manager who has quotas. With 40% commissions, selling ULIPs was irresistible. It's an easy sucker ploy, too- tell the buyer that he pays 1 lakh, saves 33K on tax, and gets *at least* 1.5 lakhs at th

[silk] [enquiry] Do any of you know about Ab Initio?

2013-04-23 Thread Ashwin Kumar
Hey folks Do any of you know about a firm called Ab Initio? This is run by the people who managed Thinking Machines Corp. I have spoken to a few people there, but would like to know more about the firm/work from people working there (friends/or people in your network). I know this is not SilkLi

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Suresh Ramasubramanian
Insurance premiums are a tax deductible under 80c as are your provident fund contributions, kids school fees and a bunch of other things you normally spend money on anyway --srs (htc one x) On 23 April 2013 3:40:43 PM Srini RamaKrishnan wrote: On Tue, Apr 23, 2013 at 3:36 PM, Suresh Ramasu

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Ingrid
On 23 April 2013 15:10, Srini RamaKrishnan wrote: > On Thu, Apr 18, 2013 at 8:06 PM, Caitlin Marinelli > wrote: > > Do they need micro insurance? > > India is generally very passive-aggressive towards insurance isn't it? > Most insurance products sold here are halfway between investment and > in

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Srini RamaKrishnan
On Tue, Apr 23, 2013 at 3:36 PM, Suresh Ramasubramanian wrote: > While sophisticated investors might not want to mix insurance and investment, > it still remains an option - in several cases - for less sophisticated > investors, as long as they find a honest advisor who doesn't missell to them.

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Srini RamaKrishnan
On Tue, Apr 23, 2013 at 3:36 PM, Suresh Ramasubramanian wrote: > While sophisticated investors might not want to mix insurance and investment, > it still remains an option - in several cases - for less sophisticated > investors, as long as they find a honest advisor who doesn't missell to them.

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Suresh Ramasubramanian
There are plenty of pure term products available and sold online Most of the worst insurance products - the heavily missold ones - have been banned or significantly modified by pressure from the insurance regulator, IRDA While sophisticated investors might not want to mix insurance and investmen

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Srini RamaKrishnan
On Thu, Apr 18, 2013 at 8:06 PM, Caitlin Marinelli wrote: > Do they need micro insurance? India is generally very passive-aggressive towards insurance isn't it? Most insurance products sold here are halfway between investment and insurance, with the insurance pay out generally being dismal, and s

Re: [silk] Migrant workers and bank accounts

2013-04-23 Thread Ashok Hoohoo
On Tue, Apr 23, 2013 at 2:58 AM, Vinay Rao wrote: > > How do they send money home? > > > In our case, we would 'drop' a cheque at the local SBI bank branch in > Bangalore, with a teller, with written instructions. And then wait close to > 20days to confirm with the maids' contacts, AND our local