Term #insurance premiums are all set to rise by up to 40% by December.

Here's why.👇(1/n)
For starters, #lifeinsurance companies had a pretty rough year- they shelled out more in COVID-19 claims during the first quarter of 2021 than in the whole of 2020.

In fact, during the second wave of COVID, insurers saw life claims mounting by 5–10 times.
And this kind of stress isn’t good. Because insurance companies (much like people) can’t pay for all these expenses out of pocket. They need insurance too. And the people that insure them i.e. re-insurers are now contemplating drastic action.
They’re considering bumping up rates across the board. For instance, Munich Re — the largest reinsurer for the #Indian insurance market is planning to bump up rates by up to 40% for term plans.
And that means insurance companies will soon have to start paying higher premiums.

At which point, they’ll simply pass on the cost to you.
What’s worse? Some industry experts believe that the rate hikes were inevitable, despite the reinsurance conundrum.

Term insurance plans in India have been underpriced for quite some time now. And a price correction is probably on the cards either way.
So maybe it makes sense to consider buying a term insurance plan soon. And if you want some help on that front, book a free call with Ditto Insurance or text us on WhatsApp- bit.ly/3ADvAKf.

You’ll have the best insurance advisors at your fingertips. (n/n)

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More from @finshots

6 Nov
Why Mexico is addicted to Coca-Cola.

A thread.👇(1/n)
This story starts with a man named Vicente Fox. In the 1960s, Fox used to work for Coca-Cola as a salesman, delivering Coke to local businesses.

His strategy was to incentivize local businesses to become exclusive to Coca-Cola, rather than Pepsi.
By the 1970s, Coca-Cola sponsored the Mexico City Olympics and, later, the World Cup. Coca-Cola made iconic ads and its marketing swayed Mexican residents.

As a result, Fox got promoted. And in turn, he promoted Coca-Cola - left, right and straight.
Read 11 tweets
31 Oct
Why are PhonePe and BharatPe Battling over ‘Pe’?

A thread. 👇(1/n)
Copyright laws are a tricky business. And naming your business similar to an existing big player is like asking for trouble.
BharatPe and PhonePe are at crossroads over the usage of the suffix ‘Pe’ - yes, a monosyllable in Devanagri (Hindi script) hanging at the end.

And that 'Pe' is a very subtle equivalent of the English word 'Pay', befitting for a digital payments platform.
Read 9 tweets
26 Oct
For the first time in 14 years, the price of a #matchbox is being raised from Rs. 1 to Rs. 2 per unit.

But what’s behind the sudden price hike?

Thread.👇 (1/n)
Let’s get straight to the math. It takes about 14 raw materials to make matchboxes and as it turns out, these costs are spiraling out of control.

Per Kg costs:
~Red phosphorus Rs. 425 -Rs.810
~Wax Rs. 58 - Rs. 80
~Outer box board Rs.36 - Rs.55
~Inner box board Rs.32 - Rs.58
Then there’s the surging price of paper, sulfur, potassium chlorate.

Who knew making a matchbox takes that much chemistry, right?
Read 8 tweets
25 Oct
The Chinese economy recorded its slowest growth in a year.

What’s happening, you ask? (1/9)
~The only major economy to end 2020 sans recession, #China clocked a GDP growth rate of 18.3% in Q1.

~But this quarter, it was only 4.9%. The last time this happened, China was dealing with a pandemic. (2/9)
This time it's courtesy of 3 major pain points- the energy, shipping, and real estate crises.

1.) The Energy Crunch. As economies opened up, the demand for goods increased. Production rose, and so did the demand for coal...(3/9)
Read 9 tweets
18 Oct
How a science genius lost millions in the #StockMarket

A thread.👇(1/9)
Could the man who discovered gravity, propounded the laws of motion, and created calculus out of nowhere, ever commit an error?

We’re talking about Sir Isaac Newton. No matter how glorious his scientific career was, turns out stock #trading wasn’t exactly his strong suit. (2/9)
It’s the year 1720 in England, a speculative mania is brewing up in the South Sea Company’s stock.
This market craziness was triggered after this company bagged a contract to take over Britain’s national debt. (3/9)
Read 9 tweets
12 Oct
The Indian coffee industry is reeling under a financial #crisis.

And it’s big enough to make coffee associations knock on the government’s door for restructuring loans worth Rs. 5,000 cr.

Thread.👇(1/8)
This isn't the first time they're asking for a breather.

They’ve been under stress since the early 2000s. And since then the government has provided them with relief multiple times - from subsidies to MSP to restructuring of loans. (2/8)
But that hasn't really come a long way for the farmers.

See, growing coffee isn’t child’s play. Coffee planters have to face a host of challenges - they have to make sure that they get the right labor & the right weather. (3/8)
Read 8 tweets

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