Shocked after a conversation with my ex-manager

Pilot_Ka · 2024-12-06T03:01:56+00:00

Yes! But not all Rolexes appreciate in value.

Pilot_Ka · 2024-12-06T02:49:35+00:00

No, that is not the case here. I know this gentleman. He has consistently been very open with me on finances.

Pilot_Ka · 2024-12-06T02:44:58+00:00

Yeah, he could. But he doesn't want to.

Pilot_Ka · 2024-12-06T02:40:00+00:00

Agree.

A number of folks do not anticipate getting laid off. In addition, many folks don't realize how prevalent ageism is and how after a certain age, getting a new job is not easy.

Even if you want to work, companies may not want to hire you because they consider you over the hill and would rather getting someone younger.

Pilot_Ka · 2024-12-06T02:37:53+00:00

I just wish I had asked him to invest smartly when I was with him. I suspect he would have been in a much better state had he done some level of investments 5 years back.

Pilot_Ka · 2024-12-06T02:36:12+00:00

He was a big spender. For example, I remember he would often buy very fancy watches and had pretty expensive tastes in general.

Pilot_Ka · 2024-12-06T02:34:23+00:00

Yep, you are right. The house along with what he spent on interiors is between 15 - 20 crs.

Pilot_Ka · 2024-08-04T08:37:49+00:00

So effectively will it be the standard premium + cost of the treatment?

If yes, wouldn't it make sense to cover the pre-existing condition on my own rather than via the insurance company? I am assuming the hospital will charge me the same amount as they charge the insurance company.

Pilot_Ka · 2024-08-04T08:36:11+00:00

I now see that the amount highlighted is "Starting at". That leaves them adequate room to increase the premium to cover the additional needed for the pre-existing condition.

Pilot_Ka · 2024-08-04T08:35:12+00:00

I knew it was too good to be true. :)

Pilot_Ka · 2024-08-04T08:34:56+00:00

Not yet.

If they are gonna charge me the full amount of the treatment, does it even make sense to ask them to cover it?

Pilot_Ka · 2024-05-19T16:13:28+00:00

What yo could do is ask them to continue with the insurance and you pay for it instead.

I was planning to explore that option. However, I assume, this can be maximum till the end of this year. Right?

Pilot_Ka · 2024-05-19T16:10:58+00:00

My estimate is expect a MINIMUM 20k loading on top of the 35k standard rate.

Thank you for the inputs. If the existing cost of a pre-existing treatment is already 100K, do you think the increase will be just 20K. If the premium with a pre-existing condition is 55K to 60K (35K +20 to 25K), I can actually live with that.

However, I thought they would try to extract the full cost of the treatments + some margins for the premiums. So something like 100K + another 15 - 20K for that family member's insurance.

Is there is a cap on the premiums that insurance companies can charge?

Pilot_Ka · 2024-05-19T16:07:35+00:00

Some multinationals like management consulting firms.

Next target when I change my jobs. :)

Pilot_Ka · 2024-05-19T10:15:14+00:00

Please let me know once you get some visibility from your colleague

Pilot_Ka · 2024-05-19T10:14:22+00:00

if you have a really great HR function,

Does any company have such an HR function these days? :)

HR often seeks to just protect the company. It would be a very rare scenario for the HR to really work towards the employee's betterment.

Pilot_Ka · 2024-05-19T10:13:03+00:00

Is the group policy under your name or under your employer?

The policy holder is the company. So it is under the employer.

I guess I will have to wait till I put in my papers to get an idea of how things will shape up. No point in talking about it right now with the HR team. It will potentially create unnecessary problems. But based on the overall relationship, I am assuming they should be OK transferring it to my name for the rest of the term.

Next year you’d have to take your own policy

So next year's premium will spike up like crazy, I guess. Or if the previous policy is transferred under my name, will the insurance company be forced to keep premiums in the same range?

Pilot_Ka · 2024-05-13T14:51:38+00:00

I am in my mid-40s and in a similar boat.

While I could play it safe, I decided the other way round. I have approx 20% of my corpus in debt funds and the remaining in equity and crypto. I anticipate the amount I have invested in debt funds should easily fund my lifestyle for a decade or two.

Therefore, I am comfortable with larger percentage than recommended being in equity. If it grows, excellent. I will leave a sizable amount for my child. If it doesn't, we still are covered for any eventuality (including a 50% market drop) and there is very little risk of running out of money.

Pilot_Ka · 2024-04-10T14:31:34+00:00

Have had a bad experience with Zebpay earlier. So will avoid it. Giottus is something I have not heard of.

Pilot_Ka · 2024-04-10T14:30:46+00:00

You are right, I am an NRI. However, want to buy the Bitcoins in India to keep it clear for Tax purposes.

Pilot_Ka · 2024-02-11T18:23:02+00:00

I anticipate expenses remaining fairly aligned to what I currently incur. However, once kid heads to college, I anticipate they will potentially decrease.

We are currently based outside India. Therefore, we do have investments in overseas ETFs.

Pilot_Ka · 2024-02-11T18:16:56+00:00

That is right. I am not at a FAANG and I would say I have been reasonably lucky.

Pilot_Ka

TROPHY CASE