Join us for Episode 2 of ACKtually Speaking with Maddy as we delve into the world of auto insurance, Indian driving behaviour, road rage, the logic behind the legal requirement for insurance and so much more! In this podcast, we talk about: 0:00 : Intro 0:28 : Why are Indians always angry on the road? 2:02 : I've had an accident. Whose insurance covers this? 3:32 : Isn't insurance supposed to give you peace of mind? 3:52 : Types of vehicle insurance coverages 4:40 : The truth behind why Insurance is mandatory by the law 4:50 : How does a third party benefit from your insurance? 5:48 : What to do when you get into an accident 6:29 : How can I claim third party insurance if someone hits me? 7:43 : How does the MACT take decisions? 9:30 : Don't go to jail. Get Auto Insurance. 10:00 : Why Indians don't insure their vehicle 10:46 : Why Auto Insurance is necessary 13:28 : Why cops check for insurance 15:22 : Will my car still be covered if it's in an accident while I'm not driving? 16:27 : Decoding Own Damage Insurance 16:47 : Friends Behind the Wheel? Am I still covered? 17:50 : The C word 18:25 : What happens when i drive drunk? 18:46 : Personal Cars ≠ Commercial Use Coverage 20:25 : Deciding the right right insurance for you 21:10 : Demystifying IDV 22:50 : Choosing the correct IDV 23:30 :No Claim Bonus Explained 24:34 : Enhancing Your Coverage with Add-Ons 25:04 : Buying A New Car? Alternatives to Dealership Insurance 25:51 : Unlocking NCB Benefits for Your New Car 26:51 : Upgrade your car with this Insurance hack 28:00 : What is the right premium? 29:40 : What you probably didn't know about car insurance 30:59 : Zero Depreciation Cover Decoded 31:27 : Protecting your engine 33:03 : Return to Invoice Cover Explained 36:33 : Why you need to contact your insurer first after an accident The examples in the video are only illustrative in nature. ACKtually Speaking with Maddy gets into the grey areas of our financial lives, where seemingly everyday decisions can have a profound impact on us, and the ones we love - whether it's in the way we brush death under the carpet, how we react on the road or the way we approach health - this podcast is a series of no-nonsense conversations driven by our curious, superstar host: R Madhavan.

Buying life insurance is a complicated (and boring) process, but what if we told you it could have consequences that could literally haunt your family at their greatest time of need? Episode 1 of ACKtually Speaking with Maddy takes a long, hard look into life insurance, the way it's been mis-sold and the consequences of not paying attention at the time of buying.

In this podcast, we speak about:

00:00 : Introduction

00:14 : The cold call that started it all

00:42 : Why these schemes don't make sense

01:57 : Common misconceptions about life insurance

02:41 : Investment vs. Insurance: Should you mix them?

03:42 : How Life Insurance is sold today

04:17 : What are Pure Protection Plans?

05:44 : What are Endowment Plans?

06:08 : Understanding ULIPs

06:23 : The rationale behind different Life Insurance plans

07:12 : Are FDs are better than life insurance endowment plans?

08:57 : Understanding the actual returns on endowment life insurance endowment plans

10:05 : Cost Comparison: Life Insurance Endowment vs. Term Life Protection Plans

10:47 : The C Word

11:53 : Determining Your Life Insurance Goals

12:21 : Understanding 'Protection' in Life Insurance

13:41 : Life changes in your 30s: What you need to know

15:00 : The real purpose of Life Insurance

15:47 : Reducing liabilities and insurance needs

16:17 : When is life insurance most crucial?

17:20 : The worst disaster that can happen

17:44 : We don't want to talk about bad things

18:20 : Two types of people

19:04 : When the family has no idea about your life insurance policy

19:42 : Having a pragmatic conversation

20:14 : Cultural differences in the West

21:04 : Ensuring that your loved ones are taken care of

21:33 : Why you need a will

22:00 : The right amount of protection

25:43 : A framework for calculating your sum assured

26:20 : Is this an expensive product?

27:00 : Let me say this again

27:45 : Another way of calculating sum assured

28:37 : The good & bad of ULIPs

29:48 : What are "Fund Management Charges" in insurance?

30:59 : Maddy's halftime summary

31:28 : What is the right age to buy life insurance?

32:15 : How life insurance premiums are calculated

33:50 : Importance of buying life insurance early

34:30 : Don't make this mistake when you're buying life insurance

35:10 : Varun's recommendation on how to approach life insurance

35:42 : What are the factors that affect my life insurance premium?

39:11 : Expecting "returns" on term insurance

41:58 : What you need to know about "Zero Cost" Term Life Plans

42:48 : Who's to blame?

43:17 : What you need to know about life insurance claims

47:04 : How life insurance claims can be disbursed

We hope you found this podcast useful! Do subscribe for more.

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