Saturday, 17 December 2016

Life Insurance for All ? Possible

Life Insurance for  All  ?  Possible 


Letter sent to a few LIC Officers on 17 Dec 2016


 Dear LIC Officers,

While thanking my friend / colleague, Gurudatt for forwarding myemail to you all , I want to admit my total lack of knowledge re Life Insurance Policies or that domain , in general

However , my today's blog below ,( sent as email to NDA ministers / secretaries ) , might interest you since it contains my suggestion re leveraging NDA's current initiative for DIGITAL PAYMENTS , for providing for our millions of citizens , an opportunity to create for themselves , a POST RETIREMENT PROVIDENT FUND , without feeling the pinch of regular   INSURANCE PREMIUM payments

Whereas , I have suggested creation of DIGITAL PROVIDENT FUND , you may want to suggest to Shri Modiji , an alternative in the form of a CONTINUOUS stream of tiny DIGITAL PREMIUMS for their LIFE Policies , every time they carry out a DIGITAL PAYMENT TRANSACTION ( @ 10 % of tax paid , as suggested in my blog )

I suppose , you can find a way to keep updating the " SUM ASSURED " , dynamically , with each such " deposit " , and even flash it as a SMS on the mobile of the person making a DIGITAL PAYMENT

You could offer an ANNUITY option to the user and call it DIGITAL LIFE ! 

Not only , such a modification of my original suggestion , bring Life Insurance Policy benefits to 800 million citizens , it will also bring about a revolution in the area of SOCIAL SECURITY, of a kind no other country in the world boasts !

If there are any questions , feel free to write / phone

Warm Regards,

Hemen Parekh / Mumbai /

No comments:

Post a Comment