Latest news with #Thane-based
Mint
7 hours ago
- Health
- Mint
Health insurance vs medical corpus: What should senior citizens prioritize?
Mumbai-based Sarita Aggarwal, 62, has had an ₹8 lakh health insurance policy from a national insurer for nearly two decades. But in recent years, the annual premium has shot up—from ₹25,000 in 2022 to ₹35,000 in 2023, and then ₹52,500 in 2024. She's bracing for yet another hike in 2025. She has been considering discontinuing the policy and building a medical emergency fund instead. 'Even as I am paying such a huge premium, I had to sue my insurer thrice to get my claim settled. I won twice," she said. 'Damned if you do and damned if you don't,"she says. Yet, she suspects she'll keep renewing it, simply because there seems to be no alternative. Thane-based Sameer Deshpande, 58, took a different path. After early retirement, he converted his employer-provided insurance into a private plan covering himself, his wife, and son. When the insurer hiked the premium from ₹18,000 to ₹35,000 in just a year—owing to his age slab change—he dropped himself from the policy. 'I was uncomfortable with this hike. I decided to exclude myself from the policy and renewed it only for my wife and son which cost me ₹21,000. I feel it's smarter to pay cash on demand than to shell out ever‑rising premiums for uncertain coverage," said Deshpande. Also read: Senior healthcare crisis: Why insurance must cover more than just hospital stays Insurance vs investment Rising premiums are forcing many seniors to reconsider the value of insurance versus building a medical emergency corpus. "Hospitalisation is an uncertain event - difficult to quantify the medical bill and just how many times one may get hospitalised. Insurance will surely offer better risk protection against medical corpus, but if the premium amount becomes more than 33% of the total coverage, it is wise to look for alternatives," said Kumar. Vaibhav Aggarwal, CFA, a behavioural finance professor at O.P. Jindal Global University, ran some calculations for a relative who had been hospitalized three times in the past 10 years. 'I assumed eight hospitalisations in the next 10 years, with the super top-up coverage being used a couple of times and only the base policy for the rest. The total internal rate of return for cumulative inflows and outflows came to 18%. This simulation helped me convince her to continue with the policy," said Aggarwal. There's also a chance you may end up paying more in medical costs if you opt to pay in cash. 'Insurance companies negotiate fixed packages, often reducing treatment costs by around 20%. In contrast, individuals without coverage may face inflated bills or unnecessary procedures, as there is no insurer to audit the charges. You're at the mercy of the hospital," Aggarwal cautioned. 'If you can't afford the insurance," he noted, 'you can never afford the hospitalization." Also Read: Your EPF makes you eligible for ₹7 lakh life insurance. Here's what you need to know How to make insurance affordable While rising premiums can feel unsustainable, consider the share of premiums in your overall expenses. 'As long as your annual premium is equal to or lower than your two months of expenses, it should be fine. It should not exceed 15-20% of your annual expenses, as data from OECD countries shows," said Kumar. What should you do if it reaches that level? To maintain decent coverage, you may consider pairing a low-coverage base health plan with a super top-up policy. A super top-up plan comes with a deductible, which means the policyholder will have to pay the amount up to deductible from her own pockets or from the base policy before the super top-up coverage kicks in. The deductible makes the premium of super top-up plans much lower than a regular health plan. "Keeping a base plan of ₹5-10 lakh and layering it with a super top-up significantly improves affordability. Having both from the same insurer can simplify claims, but it isn't mandatory," said a spokesperson from Ditto. If this too is unaffordable, simply maintain a super top-up without a base policy and keep the emergency fund ready to meet expenses equivalent to the deductible threshold. The premium hike in super top-up is relatively slower. Few people buy a top-up plan which works exactly like the super top-up with a difference that one can only use it for a single claim or hospitalization within the policy period. Mohan Govindrajan, a 66-year-old living in Chennai paid ₹50,000 to 54,000 annually for himself and her wife separately for their 10-lakh policy. Govindrajan noted that 10 years ago, the premium was significantly lower, around ₹10,000 to 20,000. They also have a top-up plan that covers them with ₹20 lakhs sum insured with a 10 lakh deductible. 'The premium hike in the top-up plan has been much slower than my base policy," he said. If insurers do not sell you a super top-up due to health or any other reason, there are ways to lower your premium of the existing policy. "Some insurers offer discounts if you pay premiums upfront for two to five years. This can help save money and protect against future premium hikes," said Ditto. Dropping non-essential add-ons is another option. "Riders such as critical illness, hospital cash, and OPD cover can push premiums up. If you have sufficient savings to handle smaller expenses, consider removing them and focusing purely on hospitalization cover," Ditto said. Use wellness programmes efficiently."Insurers such as Aditya Birla, Niva Bupa, and Care offer wellness programmes that reward you for meeting health goals such as discounts or reward points if you stay active or go for regular health checkups. These aren't huge savings, but they can help a little with the overall cost," said Ditto. Also Read: How corporate India is quietly becoming the health insurer for your parents Alternatively, if your children are employed, they should consider adding parents in employer-sponsored group plans as dependents. If you qualify, this can provide decent coverage at a lower cost. Last but not least, opt for government schemes. If you are over 70, you can enrol in the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, which will make you eligible for ₹5 lakh insurance cover. While dropping the insurance policy to invest the premium equivalent in an investment product seems viable, one should look for other alternatives to keep the policy running without burning a hole in the pocket.
Mint
5 days ago
- Mint
How Thane-based engineer ‘spied' for Pakistan: A Facebook request, honey-trapping, sketches about warships, submarines
The Maharashtra Anti-Terrorism Squad (ATS) arrested a Thane-based engineer on May 29 on charges of providing sensitive information to a Pakistani intelligence agent, who allegedly honey-trapped him on social media, officials said. The accused was identified as 27-year-old Ravindra Murlidhar Verma. According to news agency PTI, he is a resident of Kalwa in neighbouring Thane city in Maharashtra, an official said on Thursday. He was reportedly working as a junior engineer in a defence technology firm. The official said that Verma, as an employee of the defence technology company, "had access to enter the Naval Dockyard in south Mumbai and he used to work at the naval ships. Verma reportedly had been in contact with the Pakistani agent since November 2024. The official said that Verma was honey-trapped by a Pakistani agent who posed as a woman and befriended him on Facebook. According to police, he was lured into passing classified information after being honey-trapped by a Pakistani agent posing as a woman on Facebook. "He was found to have shared sensitive information about a vital installation with the 'Pakistan Intelligence Operative' (PIO) through WhatsApp from November 2024 to March 2025," the official said. According to officials, Verma had been in contact with the Pakistani agent since November 2024. They said Verma had received friend requests on Facebook from users with account names as Payal Sharma and Ispreet in 2024, which he accepted. While chatting with him, both these account users -- posing as women --initially portrayed that they were from India and worked on a project for which information about warships was required, the official said. "After a few sessions of conversations, they honey-trapped him and started digging sensitive information about vital installations," he said. Official said Verma used to share all the sensitive information with Pakistani operatives. "He was very much aware of what he was doing and to whom he was passing on the sensitive information. He was getting money in exchange for providing the information," he said. Police alleged that the Thane-based engineer shared sensitive information about warships and submarines to the Pakistani intelligence operative through sketches, diagrams and audio notes. They said that Verma received money from various bank accounts in India and abroad in return. "During the investigation, it came to light that Verma shared sensitive information knowingly and intentionally multiple times. In exchange for the information, he received money from various bank accounts from India and abroad," an official told PTI on Friday. It was also found that he had shared information about various warships and submarines to the Pakistani Intelligence Operative (PIO), another official said. The official said that Verma worked as a junior engineer with a defence technology firm and, by virtue of his work, he had access to the Naval Dockyard in south Mumbai. "He would also go on board naval ships and submarines," the official said. "During his visits to the Naval Dockyard, he was not allowed to carry a mobile phone inside. Therefore, after finishing his work there, he used to share sensitive information about warships and submarines by making sketches or diagrams. Sometimes, he would share information through audio notes also," the official added. "The ATS suspects that he also shared the names of submarines and warships to the Pakistani agent," he said. A case was registered against him and two more persons who were in contact with him, under section 3 of the Official Secrets Act that deals with espionage, and section 61 (2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS). According to PTI, officials of the ATS Thane unit took Verma into custody on Wednesday based on a tip-off. "After interrogation, Verma was placed under arrest for his alleged involvement in the crime," the official said. He was produced before a court, which sent him to the ATS custody till Monday. "The ATS is examining his mobile phones and gadgets used in sharing vital information through the social media platform with the PIO," the official said, adding that, "Further probe in the case was underway."
Time of India
6 days ago
- General
- Time of India
Animal activist fined over 5L for walking dogs in hsg society
Navi Mumbai: A Thane-based animal activist and rescuer, Subhajit Bhattacharya, was fined over Rs 5 lakh for the month of May by his housing society for "walking dogs in the common areas" and other dog-related issues. The activist reacted by stating that it is unfair and unjustified. The Hawaiian Village CHS on Ghodbunder Road in Thane comprises around 100 independent houses or bungalows. Bhattacharya, who runs the NGO 'Shades of Kindness Foundation', takes care of 20 rescued dogs at his bungalow. Since most of these rescued dogs are paraplegic, with certain spinal issues, he reasoned that he must walk the dogs outside. "I moved into this bungalow in Thane around 18 months ago with my 20 dogs. Some society members who do not like dogs have been against my animal welfare work. I have also tried to explain to them that it is natural for dogs to bark or howl. However, my society held a special general body meeting earlier this year and passed a resolution to fine me Rs 2000 every time I take a dog out for walking, and an extra penalty will be charged if any of the society staff are affected by my dogs. This is unfair and harassment on me," said Bhattacharya. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Rugas no pescoço? Esse truque caseiro pode ajudar (Tente isso hoje à noite) Revista & Saúde Saiba Mais Undo The activist has legal support from Pure Animal Lovers (PAL) Foundation, which also feels that such heavy fines on the animal rescuer are uncalled for. "We will send a legal notice to the Thane society because these stiff penalties for walking the dogs are causing mental harassment for Bhattacharya. In our Indian Constitution, Article 51 (A)(g) states that all citizens must show compassion for all animals. Bhattacharya's rescued dogs are also fully vaccinated. Hence, the society is causing unnecessary trouble for him," said PAL's animal rights advisor, Roshan Pathak. When contacted, the chairman of the society, Suresh Mohite, said: "Many society members are having problems because of the dogs kept by Bhattacharya. Bad odour comes from his house, while his kitchen is also unhygienic. One of our watchmen was also bitten by one of his dogs in the common area. Hence, the fines are being charged." However, Bhattacharya replied: "The security guard who was bitten tried to provoke my dog by purposely touching him from behind. My dog was on a leash, and the guard was also drunk. I made sure that he got medical attention. My kitchen is not dirty, as the society is alleging." Meanwhile, Pathak added: "The story of Bhattacharya is also happening at other places in Mumbai, Navi Mumbai, where animal lovers and feeders are being harassed by animal haters. We will move court against this to safeguard animal activists and rescuers."
News18
6 days ago
- News18
Thane Engineer Held For Spying Provided Data On Warship, Submarines To Pakistan
Last Updated: Verma's employment as a junior engineer with a defence technology firm granted him access to the Naval Dockyard in south Mumbai. Amid India's crackdown on terrorism, the Anti-Terrorism Squad (ATS) arrested a Thane-based engineer for providing sensitive information about warships and submarines to a Pakistani intelligence operative. The accused shared information using sketches, diagrams, and audio notes in exchange for money. Identified as 27-year-old mechanical engineer Ravindra Verma, the resident of Kalwa was arrested on Wednesday. The police investigation revealed that Verma knowingly and repeatedly provided sensitive information. 'In exchange for the information, he received money from various bank accounts from India and abroad," an official told PTI. Police also revealed that Verma was lured into passing classified information after being honey-trapped by a Pakistani agent posing as a woman on Facebook. Verma's employment as a junior engineer with a defence technology firm granted him access to the Naval Dockyard in south Mumbai. To provide the information, he would board naval ships and submarines. It is suspected that Verma shared the names of these vessels with the Pakistani agent. 'During his visits to the Naval Dockyard, he was not allowed to carry a mobile phone inside. Therefore, after finishing his work there, he used to share sensitive information about warships and submarines by making sketches or diagrams. Sometimes, he would also share information through audio notes," the official added. 'He was fully aware of his actions and the recipient of the sensitive information. He received money in exchange for providing the information," the official stated. First Published: May 30, 2025, 23:04 IST
NDTV
6 days ago
- NDTV
Engineer Arrested For Spying Shared Details On Warships, Submarines With Pak
Mumbai: The Thane-based engineer, arrested on the charge of spying, shared sensitive information about warships and submarines to the Pakistani intelligence operative through sketches, diagrams and audio notes, and received money from various bank accounts in India and abroad in return, police said. The 27-year-old mechanical engineer Ravindra Verma, a resident of Kalwa in neighbouring Thane, was arrested by the Anti-Terrorism Squad (ATS) of the Maharashtra police on Wednesday. According to police, he was lured into passing classified information after being honey-trapped by a Pakistani agent posing as a woman on Facebook. "During the investigation, it came to light that Verma shared sensitive information knowingly and intentionally multiple times. In exchange for the information, he received money from various bank accounts from India and abroad," an official told PTI. It was found that he had shared information about various warships and submarines to the Pakistani Intelligence Operative (PIO), another official said. Verma worked as a junior engineer with a defence technology firm and by virtue of his work, he had access to the Naval Dockyard in south Mumbai. He would also go on board naval ships and submarines, he said. "During his visits to the Naval Dockyard, he was not allowed to carry a mobile phone inside. Therefore, after finishing his work there, he used to share sensitive information about warships and submarines by making sketches or diagrams. Sometimes, he would share information through audio notes also," the official added. The ATS suspects that he also shared the names of submarines and warships to the Pakistani agent, he said. Verma had been in contact with the Pakistani agent since November 2024, he said. He had received friend requests on Facebook from users with account names as Payal Sharma and Ispreet in 2024, which he accepted. While chatting with him, both these account users posing as women initially portrayed that they were from India and worked on a project for which information about warships was required, he said. After a few sessions of conversations, they honey-trapped him and started digging sensitive information about vital installations, he said, adding that Verma used to share all the sensitive information with Pakistani operatives. "He was very much aware of what he was doing and to whom he was passing on the sensitive information. He was getting money in exchange for providing the information," he said. A court has remanded him to ATS custody till Monday.
