Online policies are cheap because there is no agent's fee involved, other administrative costs of the insurance company are lower and, most importantly, these use the latest statistics for calculating premia.
The abolition of wealth tax is again a welcome step.
The idea was that despite some defaults the high rates would assure good profits.
'There was a time when I went without salary for about six months,' says Amod Malviya, an alumnus of IIT Kharagpur and currently CTO, Flipkart.
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