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Sanjib

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Insurance Expert - Answered on Feb 02, 2023

Sanjib Jha is the CEO of Coverfox Insurance. His expertise includes health and auto insurance. He has over 22 years of experience in the financial sector. He has completed his post-graduation from the Institute of Company Secretaries of India.... more
Prasanna Question by Prasanna on Jan 24, 2023Hindi
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Hi Sanjib, why do insurance companies push for three and five year motor vehicle insurance? How does it benefit the insurance buyer?

Ans: Hi Prasanna, long term insurance is only mandated for new vehicle as per IRDAI. In a long term policy, a standard agreement is signed due to which the policy's premium will remain unchanged whether you claim in the policy or not.

However in a one year tenure motor policy, you will lose your NCB (no claim bonus) after claim which will increase the premium at the time of renewal.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Sir my daughter is doing a job in HINDALCO, after B Tech from NIT Durgapur in Metallurgy and material science. She has cleared GATE and got M Tech in IIT Madras. Should she go for M Tech admission or go for PSU job based on her GATE score?
Ans: Chitrasen Sir, (You have not mentioned your daughter's GATE Score). However, please note, IIT Madras M.Tech Metallurgical and Materials Engineering delivers an advanced curriculum accredited by its top NIRF engineering ranking, taught by research-active faculty through centres like CAMMD, leveraging state-of-the-art computational and experimental laboratories. The two-year program admits 36 students via GATE MT, maintaining consistent placement outcomes of around 75% over the last three years. Graduates benefit from multinational recruiters and strong alumni networks fostering interdisciplinary research and industry collaborations across energy, aerospace, and biomedical sectors. Conversely, PSU jobs in metallurgy via GATE open roles in ONGC, BHEL, NTPC and SAIL, with general-category cutoffs near 40 marks, offering HRA, DA, medical benefits, pension schemes, and robust job security under government regulations. PSUs provide structured promotions, training programs, stable work-life balance, and social prestige for engineers. Considering these core aspects—curriculum rigor, faculty expertise, infrastructure, placement performance, and career support—the decision hinges on academic research exposure versus long-term security and government-backed benefits.

Recommendation: Accept the IIT Madras M.Tech admission to deepen expertise through cutting-edge research, interdisciplinary labs, and global collaborations if academic advancement and specialized industry roles are priorities; choose a PSU position for immediate stability, structured career growth, and comprehensive benefits if long-term job security and government-backed perks outweigh further study. All the BEST for the Admission/Prosperous Future!

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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