Pension Plans - Consumer Voice · Vol. XIX, Issue 7 july 2018 Rs 50 Combining investment with life...

Vol. XIX, Issue 7 july 2018 Rs 50

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Combining investment with life cover and pension 10 plans compared

Pension Plans

Pension Plans

Rice Bran Oil

Claiming the Right to DieTerminally Ill Patients Can Now Make

A Living Will

Rice Bran Oil9 Brands Compared

Vanilla Ice Creams and Frozen Desserts

The Costlier Brand May Have More Sugar

TOP PERFORMERS

COMPARATIVE TESTRice Bran OilIt’s smoking-hot and all good

IN THE NEWS

8

5

Contents

18

24

29

STUFF MATTERSPerfumes and Fragrancesthe scent of sweet somethings, but there may be a catch

DECODING FOOD LABELSIce Creams and Frozen Desserts (Vanilla)the costlier brand may have more sugar

PRODUCT SURVEYLaptops things to keep top of mind when buying one

36 BFSIPension PlansCombining investment with life cover and pension

43 BFSI GUIDEClaiming the Right to Dieterminally ill patients can now make a living will

4 •

Editor's Voice

Chief EditorProf PK Ghosh

Mg EditorProf sri Ram Khanna

COOAshim sanyal

Director OutreachAnand Pandeya

GM, Operationsshalini Goyal Bhalla

Editor Padma Pegu

Sales & Distributionniraj Kumar singh

Hindi EditorialRashmi Khati

Online Teamnilanjana BoseAnuradha Gakhar Divya Patwal

Food DeskAshok Kanchan

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AccountsMonender singh

IT DeskHemant Upadhyay

TechnicalBhaskar Kr MukhopadhyayMAU Khan H Wadhwa KC Choudharysheeba Parveen

LegalAnkur saha

Projects and CSRRinki sharmaAmarjeet singhekta Purohitnaresh PrasadAmrit sindhu

MarketingPranay shethsnehanshu singhAshutosh Massey

SubscriptionFaraz Ahmed

AdminRamanjeet KaurGovind singh

Real Estatesajjan Jindal

Editor’s note: Consumer Voice does not accept any corporate advertisements or advertorials for the magazine. This has been the magazine’s policy since the first issue was published in 1997 and it keeps our reportage unbiased and non-partisan. Consumer Voice regularly publishes laboratory results of product tests. These products are purchased from the retail market before being sent to an independent NABL-accredited laboratory for testing.

We are thankful to Dept. of Consumer Affairs for supporting the initiative of consumer education and empowerment..

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PadmaEditor

Is your child healthy? Converse with your friends

What do you talk, converse about, or discuss your views on when having light-hearted conversations with friends, colleagues or family? In my case, if I skip the small talk and Modi talk and TV and cinema talk, I have found myself engaging in ‘health talk’, or to be precise, the health of my child as well as the health of the children being brought up in the so-called metropolitan cities of India.

The talk generally starts with the state of the killer air in the capital, moves on to the quality of food we eat on everyday basis, lingers around the overall quality of life in a big city, and ends on a more or less confusing note... It now takes me a few minutes to make anybody believe that we are all a miniscule part of a mammoth capitalistic cycle wherein large corporations – food manufacturers (controlling ‘farms to plates’), healthcare providers, pharmaceutical majors and health insurance giants – as well as government bodies have all formed a sort of invisible and unstructured yet functional and unavoidable nexus. Here the value of money is way more than the value of human well-being.

No, I am not about to reveal some unknown secret or share any conspiracy theory here. The point I am trying to make is that we need to be a bit more conscious and ask some relevant questions to relevant people. Well said, you may say. “But what am I supposed to do and where shall I begin?” That is the most common question I have faced in the last couple of years.

So, this is what I propose:

As Step One, start conversing with your immediate family and take stock of your weekly/monthly food supply. Make sure that none of the food that you buy – starting from your wheat, rice and pulses to your milk, butter, oils and bread, and everything else that you and your children eat – is adulterated. Know that if you have not yet made this your priority, you are not just a ‘king’ of a customer for criminal adulterators, but also a potential king customer for super healthcare companies (hospitals, pharma and insurance). Not to mention the injustice you do to your innocent children.

Step Two involves moving on to the second screening. When everything adulterated is off your kitchen shelf and refrigerator, you need to focus on the ‘unhealthy’ stuff. Begin with scanning packaged food with high sugar content. I need not write why; there is a surfeit of information on the ill effects of sugary packaged food. Along the way, you’ll know the reason why WHO calls sugar the next tobacco.

No, it does not end there. There is a Step Three and that is to find out an important thing or two about the quality of ‘unpacked’ food – loose grains, dry fruits, vegetables, fruits, street food, food at restaurants... Are they healthy enough to be consumed on a regular basis? As for the definition of healthy in this context, there is enough information available through multiple sources. Read about the use of chemical fertilisers, pesticides and ripening agents for vegetables and fruits. (Try opting for organic produce; it does not cost a fortune.) As for the cooked food, I need not mention what one may look at beyond the not-to-be-compromised standards of hygiene and quality of the ingredients.

As Step Four, propagate healthy consumption, talk about it with friends and colleagues, and get at least one of them to take Step One.

Let our energies and knowledge feed off and into each other.

CONSUMER VOICE JULY 2018 • 5

In the News

Ban on growth drug oxytocin from July 1

All private manufacturing of oxytocin will end from July 1 and its production for domestic use will be restricted to only one public sector company, Karnataka Antibiotics and Pharmaceuticals Limited (KAPL).

Oxytocin is a naturally-occurring hormone that causes uterine contractions during labour and helps new mothers lactate. But its misuse is widespread in the dairy industry, where livestock are injected with oxytocin to make them release milk at a time convenient to farmers. Humans consuming oxytocin-infested milk can suffer hormonal imbalances. The hormone is also used to increase the size of vegetables like pumpkins, watermelons, brinjals, gourds and cucumbers. Authorities are also concerned that the misuse of this growth booster is reported among trafficked children, injected to accelerate puberty among girls.

The Health Ministry issued this statement: “The oxytocin formulations meant for domestic consumption will be supplied by KAPL to registered hospitals and clinics in public and private sector directly. Oxytocin in any form or name will not be allowed to be sold through retail chemists.” Registered hospitals that want oxytocin for medical use will need to place orders directly with KAPL.

Haj pilgrims are not consumers, can’t claim refund, says top consumer court

Haj pilgrims are not consumers, the National Consumer Disputes Redressal Commission (NCDRC) has observed while denying relief to a man and his son who claimed refund for being provided lower-category services by the Haj Committee of India in 2008 despite paying for a higher category.

“It would thus be seen that the Haj Committee is rendering services without any profit motive and is collecting only the actual expenses incurred by it on making arrangements for the Haj pilgrimage,” the commission said. “No fee or service charges are being collected by Haj Committee of India from the pilgrims, for rendering its services to them. Therefore, the complainants cannot be said to be the consumer of the Haj Committee of India within the meaning of Section 2 (1) (d) of the Consumer Protection Act,” it further ruled.

The consumer commission was hearing an appeal filed by the Haj Committee of India against the Rajasthan state commission order asking it to compensate Abbas Ali and his son Faiyaz Hussain, who had applied for the pilgrimage in 2008 and chose ‘green’ category. They claimed that they had deposited Rs 96,940 each for the pilgrimage but when they reached Saudi Arabia, they were accommodated in a lower category. They approached the district forum seeking refund of Rs 22,362, the excess amount allegedly charged from them for the green category, but their plea was dismissed. The complainant then moved the state commission, which allowed their appeal and directed refund along with compensation of Rs 10,000 and Rs 5,000 as cost of litigation.

The Haj committee challenged this order in NCDRC. The committee claimed that the complainants had made reservations under the additional quota, and at the time of pilgrimage, the currency exchange rate of Riyal had gone high and it was not possible for the committee to accommodate them in a higher category, for which less money was paid.

The top consumer panel, while allowing the committee’s appeal, noted that the guidelines given under the Haj Committee Act in 2002 said that the services of the Haj Committee of India were free of charge and did not come within the purview of Consumer Protection Act of 1986. It, however, made it clear that the dismissal of the complaint by the consumer panel would not come in the way of the pilgrims availing any other remedy as per law, including approaching a civil court, for redressal of their grievances.

6 •

In the NewsIn the News

Voice OutreachMaking road safety a national priority

On 19 June 2018, the Consumer Voice team organized a road safety workshop at the Constitutional Club of India, New Delhi, with the objective of making road safety a national priority. Dr Sanjay Jaiswal, Lok Sabha member from Bihar, and Abhay Damle, joint secretary, Ministry of Road Transport & Highways, graced the occasion and shared their insights regarding the making of the Motor Vehicles (Amendment) Bill and how its passage would revolutionize the road safety scenario in India.

The workshop was attended mainly by road-crash victims and their family members, civil society organizations, media personnel, and road safety experts. Among the victims were famous Paralympian Jagwinder Singh and singer Kalpana Chauhan. In the end, all participants jointly signed a memorandum – addressed to the Prime Minister, the President and the Vice President, and the Chief Justice of India – for making road safety a national priority.

Road transport being a state subject, the state governments will need to be sensitized about the importance of saving lives on our roads. One hopes that the lawmakers will shed their political differences and act together for the national interest, and loudly say aye to the passage of the all-important Bill in the upcoming monsoon session of Rajya Sabha.

These grim statistics are a wake-up call, if one is still needed.

On an average, 147,720 people have died annually in India due to vehicular collisions. This means that we have lost 404 precious lives every day in the past three years. If you complete reading this article in 3.5 minutes, 1 person would have already died due to a road accident. More than five times this number are injured and many more are permanently disabled. Is it that we all are in the wrong lane?

According to a study conducted by World Bank and Bloomberg Philanthropies, by reducing road fatalities by 50 per cent and keeping it at the same level till 2038, India can generate additional national income of about Rs 17.64 lakh crore. So, road crashes not only take a toll on human lives, it affects the economy also.

Countries across the globe gathered on 18–19 November 2015 in Brasilia for the 2nd UN Global High-Level Conference on Road Safety which was co-sponsored by WHO. There they issued a declaration known as the ‘Brasilia declaration on road safety’. The participating countries agreed to adopt measures to halve road-traffic deaths by the end of this decade – that is, by 2020. So, as a signatory to the Brasilia Declaration, India is committed to reduce the number of road accidents and fatalities by 50 per cent by 2020. It boils down to 74,000 deaths in a year. This is achievable but the path is difficult. Union Minister for Road Transport and Highways Nitin Gadkari has recently admitted that he saved only 5 per cent lives in road accidents instead of 50 per cent which was an unfortunate blemish on his performance record.

Currently, the law that regulates all aspects of road-transport vehicles is the Motor Vehicles Act, 1988, which came into force on 1 July 1989. Admittedly this law is archaic now, especially when seen in light of the changes that have occurred in the transportation sector and the mushrooming of vehicles and population. When the 1988 Act was passed, India had a population of 83 crore. Fast forward to 2017 and we have multiplied to 132 crore. The number of road-accident fatalities was 49,218 in 1988;


In the NewsIn the News

Certificate of Recognition being handed over by Pranay Sheth, head – marketing, Consumer Voice, to Nitin Khanna, head – Motor Insurance Group & Bancassurance – ICICI Lombard General Insurance Co. Ltd, on ICICI Lombard being ranked as ‘best buy’ in the comparative evaluation of top-ups for health-insurance plans. The report was published in the June 2018 issue of Consumer Voice.

Certificate of Recognition being handed over by Pranay Sheth to Satish Kamath, general manager – Business Strategy, Planning & MIS Dept, Syndicate Bank, on Syndicate Bank being ranked as ‘best buy’ in the comparative evaluation of fixed deposits published in the June 2018 issue of Consumer Voice. Also seen in the photo are P Palanisamy, DGM, (right) and N Sitarama Somayaji, DGM (left).

the corresponding figure for 2017 was 146,377. In absolute terms, India is at second position globally in road fatalities and injuries. Road accidents are a global problem but this problem is especially acute in developing countries like India.

The first major step towards road safety is overhauling of the law. Accordingly, the central government introduced the Motor Vehicles (Amendment) Bill, 2017. Civil society organizations had an important part in spurring the government towards drafting this new Bill. It was passed by Lok Sabha on 10 April 2017 but has been pending for passage in Rajya Sabha for more than a year, having gone through several parliamentary committees.

Let’s understand some of the details of this new law.

The Bill has proposed 68 amendments to 233 sections and 28 additions to the existing 1988 MV Act. The following are some of the clauses that are expected to reduce accident rates:

• Fineswillshootupfordrunkenorrashdriving,overspeeding,dangerousdriving,ridingwithoutseatbelts, and talking on mobile phones while driving.

• Contractors,consultantsandcivicagencieswillbeaccountableforfaultydesign,constructionorpoor maintenance of roads

Monetary fines are a big deterrent and they have been revised to be in sync with the times.

• ThefineforrashdrivinghasbeenincreasedfromRs1,000toRs5,000.• TalkingonamobilephonewhiledrivingwillattractafineofRs5,000,upfromRs1,000.• DrivingwithoutalicensewillattractaminimumfineofRs5,000asagainstRs500atpresent.• TheminimumfinefordrunkdrivinghasbeenincreasedfromRs2,000toRs10,000.• ThefineforoverspeedingwillgoupfromRs400toRs1,000–Rs2,000.• NotwearingaseatbeltwillattractafineofRs1,000asagainstRs100atpresent.

There is a provision of increase in all fines under the act @10% on an annual basis on the 1st day of April every year. So, no new law will be required for increasing the penalties.

The main reasons for deaths that have been documented are what we usually see on most of the Indian roads – these include poor driving skills, rule violations and indiscretion. Over-speeding is the reason for 66.5 per cent of all road accidents, accounting for 61 per cent of deaths. The second reason is reckless use of cellular phones. Cell-phone usage led to just under 5,000 accidents and more than 2,000 deaths last year. Drunken driving and absence of child-safety restraints are also a cause for worry.

8 •

Rice bran oil is an excellent source of oryzanol, a natural and powerful antioxidant. Besides, it meets many of the criteria that define healthy edible oil for us, covering smoking point (a high smoking point means the oil holds on to its nutritional content at higher temperatures), good monounsaturated and polyunsaturated fats (as against bad saturated fats), HDL (good) cholesterol, and so on. At the same time, health claims by edible oil brands are a dime a dozen and can leave the consumer confused about the best/better buy. so, are all rice bran oils equally suitable for your consumption? Do they all meet the basic requirements? What do we know about their ‘fatty acid profile’? Do we know that the iodine value in your rice bran oil is a measure of the unsaturated fats therein? Is there a way to find out if there are other oils or fats in your edible oil? How many of us know that the lower the acid value, the better the quality? this report is a firsthand study of nine brands of rice bran oil available with various retailers in India.

A Consumer Voice Report

Rice Bran oilIt’s smoking-hot and all good

Comparative Test


Rice Bran Oil

We tested the nine popular brands on a range of quality, safety and acceptability parameters. These included oryzanol, fatty acid composition (saturated

and unsaturated fatty acids), unsaponifiable matter, saponification and iodine values, acid and peroxide values, refractive index and flash point. We further checked for moisture and insoluble impurities, admixture with other oils and presence of argemone oil.

The study covered physically refined oils used for

edible purposes. All brands except Patanjali were in high-density polypacks of one litre capacity; Patanjali was packed in plastic bottle. All mentioned the nutritional values of the oil on the packaging.

CV RECOMMENDATION | TOP PERFORMER

Gagan

VALUE FOR MONEY

Freedom

The samples were tested as per specification laid out by FSS Regulations, 2011, and relevant Indian Standard IS: 3448-1984 (Specification for Rice Bran Oil). The tests were conducted at an NABL-accredited laboratory.

BRANDS TESTED

Rank Total Score out of 100

(rounded off)

Brand Pack Size (litre)

MRP (Rs) Best before, Months

Manufactured by

1 87 Gagan 1 116 9 Bunge India Pvt. Ltd

2 86 Porna

1 120 6 SKM Foods (Edible Oil Division), SKM Animal Feeds and Foods (India) Pvt. Ltd

2 86 Patanjali 1 110 9 Patanjali Ayurved Ltd

3 85 Ricela 1 136 9 A.P. Organics Ltd

3 85 Freedom 1 101 9 Gemini Edibles & Fats India Pvt. Ltd

4 83 Rizolo 1 125 9 Modi Naturals Ltd

4 83 Fortune 1 120 9 Adani Wilmar Ltd

5 81 Dhara 1 118 8 Mother Dairy Fruit & Vegetable Pvt. Ltd

6 80 Emami 1 92 8 Emami Agrotech Ltd

Score Rating: >90: excellent*****, 71–90: very good****, 51–70: good***, 31–50: average**, up to 30: poor*

10 •

Comparative Test

Key Findings

• Basedontheoverallscore,thetopperformerisGagan.

• Thevalue-for-moneybrandisFreedom.

• Infattyacidcompositiontest,Gaganscoredhighest,followedbyPornaandFreedom.

• PatanjalihadthehighestpercentageoforyzanolandEmamithelowest.

• InbrandRizolo,erucicacid(C22-NDB-2)wasfoundtobe0.31percentagainsttherequirementof‘not detected’.

• Allbrandswerefoundtobefreefromargemoneoil.Therewasnoadmixturewithotheroils.

Rice bran oil (also known as rice bran extract) is the oil extracted from the germ and inner husk of rice. It is notable for its high smoke point. Its mild flavour makes it suitable for high-temperature cooking methods such as stir frying and deep frying. It is favoured by many for its content of vitamin E, ideal fatty acid balance, antioxidant capacity, and cholesterol-lowering abilities.


Rice Bran Oil

Grades of Rice Bran Oil (as per Indian Standard)

i) Refined Grade: The material of refined grade is suitable for edible purposes.

ii) Raw Grade 1: The material here is suitable for making vanaspati and refined oil and not for direct human consumption.

iii) Raw Grade 2: The material here is suitable for industrial purposes.

The refined rice bran oil shall be clear and free from rancidity, adulterants, sediment, suspended and other foreign matter, separated water and added colouring and flavouring substances.

Shelf Life

The declared shelf life of all tested brands is in the range of 6 to 9 months. Where the shelf life is six months, there is all the more need for the consumer to be aware, particularly if they are buying the large pack of five litres capacity. They must ensure that the oil remains stable within the consumption period.

How Should You Store Your Rice Bran Oil?

Store your rice bran oil in a cool dark place. Although rice bran has high antioxidant levels that protect the oil from degrading over time, it is best to store it in a cool cupboard away from sunlight and heat.

12 •

TEST RESULTSFOR PHYSICOCHEMICAL

PARAMETERS

Oryzanol | Unsaturated Fatty Acids | Saturated Fatty Acids | Unsaponifiable Matter | Saponification

Value | Iodine Value | Moisture and Insoluble Impurities | Refractive Index | Peroxide Value | Acid Value | Flash Point | Hexane | Admixture with Other

Oils | Test for Argemone Oil

Oryzanol

Requirement: Not less than one per cent

Oryzanol is a natural antioxidant present in rice bran oils and is known to reduce the absorption and deposition of LDL and VLDL (bad) serum cholesterol. Oryzanol also helps in reducing hypertension. It improves bone-mineral density and liver function and gives relief from gastrointestinal distress.

• Oryzanol was well above the minimum requirement in all tested brands, ranging between 1.17 per cent and 1.67 per cent.

• Patanjali (1.67 per cent) had the highest percentage of oryzanol, followed by Gagan and Freedom (both 1.61 per cent). Emami (1.17 per cent) had the lowest amount.

Clinical trials conducted in Japan have shown that 300 mg per day is the effective dose of oryzanol.

Unsaponifiable Matter

Unsaponifiable matter should not be more than 3.5 per cent for chemically refined oil and 4.5 per cent for physically refined oil.

• All brands were within the specified limit. The top performers were Rizolo, Gagan and Ricela.

Unsaponifiable matter includes those substances that are frequently found dissolved in fatty acids and drying oils which cannot be saponified by caustic treatment, but which are soluble in the normal fat solvents.

Comparative Test


Rice Bran Oil

Fatty Acid CompositionFSSAI has specified fatty acid composition for various oils and fats expressed as percentage of total fatty acids. The test is conducted for checking adulteration of edible oils with cheaper oils, for determination of the authenticity of the edible oils. Since the fatty acid composition is different for different edible oils, this test serves to expose and curb two malpractices: a) adulteration of expensive oils with cheaper oils, and b) misleading label claims on the composition of blended oils.

All edible oils have virtually the same fat. But the proportion of different types of fatty acids varies from one type of oil to another. An average person should limit the saturated-fat intake (saturated fats are mainly animal-based fats like milk fat, ghee and butter). Eating a lot of saturated fat increases the level of bad cholesterol (low-density lipoproteins, or LDL) in the blood. And it is generally acknowledged that high levels of LDL place one at a greater risk of heart disease. Saturated and trans fats are unhealthy ‘bad’ fats that can increase one’s cholesterol, harden the arteries and eventually increase one’s risk for heart disease.

Polyunsaturated fatty acids (PUFAs) and monounsaturated fatty acids (MUFAs) are unsaturated fats and considered to be good fats.

• AllbrandsexceptRizoloconformedtoqualityrequirementsoftherelevantnationalstandardsintermsoffattyacid composition.

• InthecaseofRizolo,erucicacidwasfoundtobe0.31percentthoughthenationalstandardsrequiredittobe ‘not detected’. All other fatty acids were within the specified limit.

• Inunsaturatedfats,GaganscoredhighestandwasfollowedbyFreedom.

• Insaturatedfats,PornascoredhighestandwasfollowedbyGagan.

Iodine Value

The iodine value is a measure of the unsaturated fats and is a quality test for edible oils. Iodine value of rice bran oil shall be in the range of 90–105.

• All brands were within the specified limit.

Is Your Oil Rancid? Peroxide Value

Detection of peroxide gives the initial evidence of rancidity in unsaturated fats and oils. Other methods are available, but peroxide value is the most widely used. Concentration of peroxide in an oil or fat is useful for assessing the extent to which spoilage has advanced.

As per draft FSS Regulations, it shall be less than 15 milli-equivalents (meq)/kg.


Acid Value

The acid value is a relative measure of rancidity as free fatty acids are normally formed during decomposition of oil. It shall be a maximum 0.5.

• Again, all brands were within the specified limit.

Refractive Index

This is used to detect rancidity in edible oil. Refractive index shall be between 1.4600 and 1.4700 for rice bran oils.

• All brands were within the specified limit. They were clear and without any haziness.

14 •

Comparative Test

Flash Point

It should not be less than 250 degrees Celsius in case of rice bran oil. The higher the flash point of rice bran oil, the lower is the risk of ignition in the oil.

• Flash point of all the brands was above 250 degrees Celsius, thus meeting the requirement.

• Rizolo, Ricela, Porna and Gagan were found to have higher flash points.

Hexane is used as a solvent to extract cooking oils from seeds. It is a toxic chemical and must therefore be within the specified limit.

The flash point of a volatile material is the lowest temperature at which it can vaporize to form an ignitable mixture in air. At the flash point, the vapour may cease to burn when the source of ignition is removed.

Hexane

It shall not be more than 5 ppm as per the national standards.

• Hexane was not detected in any brand (detection limit being 0.2 mg/kg).

Hexane is used as a solvent to extract cooking oils from seeds. It is a toxic chemical and must therefore be within the specified limit.

Other Oils, Other Stuff Saponification Value

The saponification value helps to detect the presence of other oils/fats. Saponification value of rice bran oil should be between 180 and 195.


Argemone Oil

Argemone oil in edible oil should be negative. Consumption of this oil can lead to health hazards.

• Argemone oil was not detected in any brand.

Admixture with Other Oils

Tests were conducted to check for admixture of other oils in the rice bran oil.

• There was no admixture of other oils in any of the brands.

Moisture and Insoluble Impurities

Moisture is the amount of water present in edible oils. The amount of water should be as low as possible. The permissible limit is a maximum 0.10 per cent by mass.

• All brands were within the specified limit. The top scorers were Gagan, Porna and Emami.

Specific gravity is the ratio of the density of a material to the density of water. The specific gravity of edible oils must be in the range of 0.910–0.920.



Rice Bran Oil

Parameter Weightage (%)

Gagan Porna Patanjali Ricela Freedom Rizolo Fortune Dhara Emami

Oryzanol 15 13.58 13.35 14.03 13.35 13.58 12.60 13.20 11.85 10.28

Unsaturated fatty acids

1310.21 9.45 9.61 9.67 10.02 8.83 9.76 9.50 9.04

Saturated fatty acids

75.28 5.47 4.87 4.79 4.74 4.84 4.69 4.73 4.71

Unsaponifiable matter

8 7.04 6.56 6.88 7.04 6.72 7.20 6.88 6.72 6.72

Saponification value

7 5.57 5.99 5.63 5.32 5.68 5.90 4.95 5.87 5.93

Iodine value 7 5.48 5.95 5.45 5.70 5.63 5.50 5.24 5.25 5.29

Moisture and insoluble impurities

5 4.80 4.80 4.60 4.60 4.40 4.20 4.40 4.60 4.80

Refractive index 5 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40 3.40

Peroxide value 5 4.72 4.75 4.74 4.96 4.74 4.31 5.00 4.71 4.51

Acid value 4 3.48 3.16 3.48 3.04 3.24 3.00 3.00 2.56 2.56

Flash point 4 3.60 3.72 3.16 3.72 3.16 4.00 3.36 2.80 3.04

Hexane 4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0

Admixture with other oils

4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0

Test for Argemone oil

3 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0

PHYSICOCHEMICAL SCORES

Note: Saturated fatty acids and unsaturated fatty acids are part of the fatty acid composition test.

V for Vitamin EAccording to the National Institutes

of Health (NIH), vitamin E is a powerful antioxidant that may help protect cell membranes against damage caused by free radicals and thereby slow the ageing process of cells. As per NIH, the recommended daily allowance (RDA) is 15 mg for adults older than 14 years; 15 mg for pregnant women of any age; and 19 mg for breastfeeding women of any age.

• Among the tested samples of rice bran oil, seven had declared vitamin E content to be 50 mg/100 gm.

16 •

Comparative Test

Refined and Filtered Oils Refined oil

This type of edible oil has been purified with chemicals to remove suspended particles, toxic substances, flavour components, colour and odour, thereby leaving behind clear and pure oil.

Physically refined oil

The oil is physical refined as to preserve the nutrients that would otherwise be lost due to the use of harsh chemicals like caustic. Physically refined rice bran oil is generally golden (dark yellow) in colour as it has been refined through the steam distillation process which preserves all the essential nutrients, whereas the chemically refined variant is generally lighter in colour (stripped off from nutrients due to use of chemicals).

Filtered oil

Obtained by the traditional cold-pressing method, this is filtered once or twice to remove suspended particles. They are simply filtered and bottled with no further processing. Unrefined or filtered oils retain the savoury flavour of the seed, nut or fruit from which they are derived.

Why Rice Bran Oil?• Ricebranoilisanaturallyoccurringsourceoforyzanol,anutrientthat,inadditiontoitsantioxidant

activity, is often associated with cholesterol-lowering, anti-inflammatory, anti-cancer and anti-diabetic effects.

• Rice bran oil has the best balance of saturated, monounsaturated and polyunsaturated fats asrecommended by such organizations as the American Heart Association. It’s the oil of choice for improving serum cholesterol levels and preventing cardiovascular diseases.

• Tocopherol(VitaminE)isanantioxidantpresentinricebranoilwhichreducestheincidenceofstroke, reduces coronary blockage, and helps in balancing the nervous system. Tocotrienols inhibit platelet aggregation and growth of human breast cancer cell. It has anti thrombotic and anti-cancer properties.

• Ricebranoilhasahighsmoke(burn)point,makingitperfectfordeepfryingandpanorstirfrying.It offers a good alternative to hydrogenated oil, which contains trans fats.

Packing, Marking and Net WeightThe rice bran oil shall be packed in suitable, closed tin or plastic containers of food-grade quality. The packing material should not affect the properties of the oil and at the same time maintain the shelf life of the product. Packing, once used, shall not be reused.

The container shall be marked with name and net volume of the material in the container; manufacturer’s name and trademark, if any; batch number, month and the year of manufacture; best before; MRP; and customer-care details.

• All brands were of one-litre capacity and all except Patanjali were packed in high-density polythene containers. Patanjali oil was packed in a plastic (PET) bottle.

• All brands provided all required information on their labels.

• Net weight in all brands was found to be above or close to the declared value of 910 gm.


Rice Bran Oil

The Good and the Bad Fats in Edible Oils

Monounsaturated Polyunsaturated Saturated Trans

Good Fat Good Fat Bad Fat Bad Fat

Reduces bad cholesterol (LDL) levels and

increases good cholesterol (HDL) levels

Reduces bad cholesterol (LDL)

levels

Increases overall cholesterol levels, especially bad

cholesterol

Increases the bad cholesterol (LDL) level

and decreases good cholesterol (HDL) levels

Found in nuts and seeds, avocados, olive oil and

canola oil

Found in fatty fish such as salmon,

mackerel, trout and sardines, and also in corn, safflower,

sunflower and soybean oils

Found in animal-based foods such as meat, poultry and eggs, and also in butter, cream and

other dairy products

Also found in plant-based products such as coconut,

coconut oil, palm oil and palm kernel oil, and cocoa butter

Found in hydrogenated fat products such as

margarines and vegetable shortenings

Used in packaged snack foods such as cookies,

crackers and chips, and in fried foods

Do Mix and Match One of the most important things to keep in mind is that oil behaves differently when heated – it changes texture, colour, taste and nutritional properties. When the oil reaches its smoking point, a lot of the nutrients are destroyed and it can sometimes form harmful compounds.

It is advisable to use a combination of oils, either blended or by rotation – for example, mustard oil, groundnut oil, soya bean oil, sunflower oil, rice bran oil – so that you get the benefit of all.For blending, you take equal proportions of different oils in one container and then use it. This way you don’t get prolonged exposure to the side effect of one type of oil and get the benefits of different oils. You could also have two or more different kinds of oils in your kitchen that you could use for different purposes. For example, you could use olive oil for salads, groundnut/rice bran oil for frying, and mustard/soybean/sunflower oil for other cooking purposes.

Dear readers: We are open to hearing your suggestions on products and services that you believe should be reviewed/tested by Team Consumer Voice. You may write to [email protected]

18 •

Decoding Food Labels

Although the nutritional content of ice cream varies among brands and types, in general it is a good source of energy, protein, calcium and phosphorus. For all of that, though, ice cream is a high-fat food. the sugar is there too. What is the big difference from frozen desserts, one may ask. Well, while ice cream is mainly made from milk and milk products, frozen desserts are made with vegetable oils/fats. Generally, a frozen dessert is defined as any type of dessert made by freezing a mixture of liquids, semi-solids, and sometimes even solids. so, ice cream is also a type of frozen dessert – however, all frozen desserts cannot qualify to be ice cream. these days, many of the products in the ice cream aisle at your grocery store are ‘frozen desserts’ that are often made with edible oil products and do not contain the nutrients naturally found in milk (ice creams are required to contain greater than 10 per cent milk fat). Consumers must read the nutrition facts table on the label to know which is which. note that if it does not say ice cream on the package, it is not ice cream. Yet, how many of us consumers know about this small but not insignificant detail?

Ice Creams and Frozen Desserts (Vanilla)the costlier brand may have more sugar

As per Food Safety and Standards (Food Products and Food Additives) Amendment Regulations, 2017:

Ice cream means the frozen milk product obtained by freezing a pasteurized mix prepared from milk or other products derived from milk or both, with or without addition of nutritive sweeteners and other permitted non-dairy ingredients. The product may contain incorporated air.

Frozen dessert means the product obtained by freezing a pasteurized mix prepared with edible vegetable oils or fats, having a melting point of not more than 37 degrees Centigrade, or vegetable protein products, or both. It may also contain milk fat and other milk solids with the addition of nutritive sweeteners and other permitted non-dairy ingredients. The product may contain incorporated air.


Energy and Protein

We chose seven popular brands of vanilla ice creams and frozen desserts to interpret the nutritional information given on their labels.

Sl No. Brand Label Claim Manufactured/Marketed/Imported by

1 Amul Vanilla Royale Ice Cream

Gujarat Co-operative Milk Marketing Federation Ltd

2 Cream Bell Vanilla FlavouredMedium Fat Frozen Dessert

Devyani Food Industries Ltd

3 Havmor Vanilla Flavoured Ice Cream

Havmor Ice Cream Ltd

4 Kwality Wall’s VanillaFrozen Dessert

Hindustan Unilever Ltd

5 London Dairy VanillaPremium Ice Cream

Indagro Foods Pvt. Ltd

6 Mother Dairy French VanillaPremium Ice Cream

Mother Dairy Fruit & Vegetable Pvt. Ltd

7 Vadilal Vanilla FlavouredIce Cream

Vadilal Industries Ltd

Ice Creams and Frozen Desserts (Vanilla)

Sl No. Brand Energy Protein

In 100 ml (kcal)

% of RDAfor man doing sedentary work

In 100 ml (gm)

% RDA for man

1 Amul 118.0 5.1 2.0 3.3

2 Cream Bell 95.0 4.1 2.1 3.5

3 Havmor 108.4 4.7 2.0 3.3

4 Kwality Wall’s 110.0 4.7 2.1 3.5

5 London Dairy 112.0 4.8 2.4 4.0

6 Mother Dairy 115.7 5.0 1.9 3.2

7 Vadilal 101.3 4.4 1.8 3.0

Key Findings

• EnergyvalueishighestinAmul(118kcalper100ml) and lowest in Cream Bell (95 kcal per 100 ml).

• Consuming100mlofMotherDairyicecreambyaman engaged in sedentary work means five per cent of his daily requirement of energy has been met.

• ProteinvalueishighestinLondonDairy(2.4gmin100 ml) and lowest in Vadilal (1.8 gm in 100 ml).

• Consuming100mlofVadilal icecreammeans3per cent of a man’s daily requirement of protein has been met.

20 •

Nutritional labelling of packaged food products refers to the disclosure of the main nutrients, such as energy, fat, protein, carbohydrate, sugar and salt content, on the label. As per India’s Food Safety and Standards (Packaging & Labelling) Regulations, 2011, mandatory nutritional information or nutritional facts per 100 grams or 100 millilitres or per serving of the product shall be given on the label. Such information shall contain the following:

a) energy value in kilocalories (kcal)

b) the amounts of protein, carbohydrate (specify quantity of sugar) and fat in gram (gm) or ml

c) the amount of any other nutrient for which a nutrition or health claim is made

Note that declaration of salt/sodium and calcium is not mandatory.

Per-Day Recommended Dietary Allowance (RDA) for Indians

This is as per the manual of Dietary Guidelines for Indians, 2011, prepared by National Institute of Nutrition, Hyderabad. RDA refers to the average daily level of intake sufficient to meet the nutrient requirements of nearly all healthy people.

Traffic Light Labelling

In year 2007, Food Standards Agency (FSA) of the United Kingdom developed traffic light labelling guidelines with these objectives:

• toallowconsumerstocorrectlyidentifyhealthier food products

• toassistconsumerstomakecomparisonsbetween products easily

• toallowconsumerstomakethesecomparisons at a glance

The traffic light labelling system uses three colours – green, amber and red – to show at a glance if a particular food has low, medium or high amounts of fat, sugar and salt. Foods that are high in fat, sugar and salt are linked with obesity and non-communicable diseases such as diabetes, hypertension and high blood pressure. As yet, the UK labelling system is not followed in India.




Ingredient Green (low content)

Amber (medium content)

Red (high content)

Fatless than or equal to 1.5 gm

more than 1.5 gm and not more than or equal to 8.75 gm

more than 8.75 gm

Sugarless than or equal to 2.5 gm

more than 2.5 gm and not more than or equal to 11.25 gm

more than 11.25 gm

Results can be interpreted as follows:Green: drink often (desirable); amber: occasionally (neutral); red: sparingly (undesirable)

This is how the criteria for fat and sugar in drinks and semi-liquid food (per 100 ml) are set out in the traffic light labelling system:

Traffic Light Rating of Ice Creams and Frozen Desserts (Vanilla)

Sl No. Brand Fat Total Sugar

In 100 ml (gm)

Traffic Light In 100 ml (gm) Traffic Light

1 Amul 7.0 Amber 8.6(Added)

Amber

2 Cream Bell 3.8 Amber 10.0 Amber

3 Havmor 5.65 Amber 8.6 Amber

4 Kwality Wall’s 5.8 Amber 9.0 Amber

5 London Dairy 5.6 Amber 12.0 Red

6 Mother Dairy 6.9 Amber 8.3(Added)

Amber

7 Vadilal 5.5 Amber 8.1(Added)

Amber

22 •

Key Findings

• Traffic light for fat is amber for all brands – this means one may consume these occasionally.

• Fat is lowest in Cream Bell and highest in Amul.

• Traffic light for sugar is red for London Dairy – this means one may consume it sparingly. For all other brands sugar is amber.

• Sugar is lowest in Vadilal.

Unit Price

The unit price gives a fair idea about the cheapest and costliest brands.

Unit Price of Ice Creams

Sl No. Brand Maximum Retail Price (MRP) (Rs)

Declared Net Content (ml)

Unit Price (price per 100 ml) (Rs)

1 Amul 10.00 65 15.38

2 Havmor 20.00 120 16.67

3 London Dairy 125 125 100.00

4 Mother Dairy 20.00 90 22.22

5 Vadilal 20.00 120 16.67

Key Finding

• As per unit price, at Rs 15.38 per 100 ml, Amul is the cheapest brand. The costliest brand is London Dairy (Rs 100 per 100 ml).



Unit Price of Frozen Desserts

Sl No. Brand Maximum Retail Price (MRP) (Rs)

Declared Net Content (ml)

Unit Price (price per 100 ml) (Rs)

1 Cream Bell 10.00 55 18.18

2 Kwality Wall’s 15.00 90 16.67

Key Finding

• Kwality Wall’s is cheaper than Cream Bell.

Useful Findings

a) London Dairy Ice Cream is 6.5 times more costly than Amul Ice Cream.

b) The main ingredient of ice cream is milk and milk products, whereas in frozen dessert the milk fat is replaced by edible vegetable fat or oil (fully or partially) and milk protein by vegetable protein (fully or partially). So, while frozen dessert should be cheaper than ice cream, the fact is that Cream Bell and Kwality Wall’s frozen desserts are costlier than Amul Ice Cream.


24 •

Stuff Matters

With their exquisite packaging, appealing advertisements and catchy punchlines, perfumes are made almost irresistible for consumers. there has been a significant increase in demand for different types of fragrances in India. Reason enough for consumers to be aware about certain facts related to perfumes and fragrances and then make informed choices. After all, that rose-like fragrance in your perfume may have been concocted from any number of the fragrance industry’s thousands of stock chemical ingredients.

Perfumes and Fragrancesthe scent of sweet somethings, but there may be a catch

There are natural as well as synthetic sources of fragrance.

• Naturalsources

Plants

Essential oils and fragrant compounds are obtained from different parts of plants such as bark, leaves, flowers, fruits resins, twigs, roots, terpenes, seeds and wood. Some common fragrances are: orange, cinnamon, rose, jasmine, citrus clove, vanilla

orchid, strawberries, cherries, juniper berry, lemons, lavender leaves, sage leaves, rosemary leaves, cocoa, nutmeg, sandalwood, rosewood and agarwood.

Animals Sources include ambergris obtained from sperm

whale (looks like yellow amber), civet musk obtained from civet cats, musk from musk deer, etc. Secretions, digestions and excretions of animals are some of the most expensive and sought-after ingredients in perfumes.


Perfumes and Fragrances

• Syntheticfragrantcompounds

Fragrant compounds that are synthesized artificially to be used in the perfume industry are known as synthetic fragrant compound. An example is white musk.

Notes of Perfumes

Ever wonder why a perfume smells differently after an hour?

This is because perfumes have three sets of notes. Each note unfolds with time. When you apply a perfume, you get to smell the top note, which appears after 15 minutes of application and stays up to 3–4 hours. After this, you get to smell the middle/heart note, which stays up to 4–5 hours after application. In the end, you get to smell the base note which could stay for days on your clothes.

Health Concerns

Are there health concerns with regard to perfumes and fragrances? Yes, indeed. Both known and unknown perfume ingredients can impact the health of perfume wearers.

There are allergic reactions, to begin with. Studies suggest that some individuals can be allergic to the components present in the perfumes. (For example, grapefruit extracts can cause severe allergies and increase an individual’s sensitivity to harmful rays from sunlight [ultraviolet rays].) The chemical scents may also bring on bouts of contact dermatitis (a condition in which the skin becomes red, sore, or

inflamed after direct contact with a substance). In more severe cases, cosmetic contact dermatitis can trigger eczema, a chronic skin disorder marked by itchy rashes.

Many individuals report experiencing a headache after applying perfumes. This can be due to application of a strong perfume or applying it in excessive amount, or one can be mildly allergic to a specific perfume.

Fragrance chemicals are typically mixtures of several dozen to several hundred chemicals, primarily synthetic. Even so-called ‘natural’ fragrances can have synthetic chemicals in them.

Bronchial spasms may be caused by perfume for those with asthma, according to groups like the American Lung Association, which in fact recommends that those with lung disease avoid wearing perfume. Allergy sufferers can also develop other upper respiratory problems from exposure, a serious health risk.

Finally, some natural and synthetic aromatic compounds are linked to cancer. Examples include nitro-musks and musk xylene.

Types of Fragrances

Most of the essential oils and other fragrant compounds are expensive. They are often diluted with alcohol to reduce the total cost of the product. Greater the concentration of essential oils and extracts, stronger the fragrance. Fragrances can be classified based on the dilution levels (see accompanying table).

Type (usually mentioned on the label)

Characteristics How long does it stay?

Parfum • Concentrationoffragrantcompounds:15%–40%.

• Mostexpensiveofall

Six to eight hours

Eau de Parfum (EDP • Concentrationoffragrantcompounds:15%–20%

• Lessexpensivethanparfum

• Suitableforsensitiveskin

Four to five hours

Eau de Toilette (EDT) • Concentrationoffragrantcompounds:5%and15%. Two to three hoursEau de Cologne (EDC) • Concentrationoffragrantcompounds:2%to4% Up to two hoursEau Fraiche (could be called body mist)

• Concentrationoffragrantcompounds:1%to3%

• Alcoholconcentrationisnotveryhigh

• Mostlymadeupofwater

Up to an hour

26 •

What is the actual cost of a perfume?

Perfumes are an expensive commodity. A 50ml bottle of any luxury perfume costs about Rs 2,500–Rs 13,000. But the real cost of the perfume is only two to three per cent of the MRP quoted on the pack. The costs of the bottle, packaging, retailer’s profit, manufacturer’s profit, marketing, sales commission, etc., are more than the real cost of the perfume.

Other Options

Ittar

Ittars are the essential oils obtained from botanical sources such as spices, resins and flowers. They are highly concentrated and aged in a wooden base such as sandalwood for at least a year.

There are evidences that suggest that the art of perfumery existed in India since ancient times. Scientists have found perfumery apparatus in the archaeological sites of Indus Valley civilizations. Formulations for making ‘ittar’ and usage of fragrant essential oils from flowers and spices are mentioned in many Indian ancient scriptures. ‘Ittar’ fragrance formulations are still very popular in the Indian market.

Deodorant

Deodorants are the products made specifically to address body odour caused by bacteria during sweating. These are usually alcohol-based. Other active ingredients in deodorants include sodium stearate, sodium chloride and stearyl alcohol. Many of these chemicals are known to cause serious health concerns.

Tips are good

a) Research before purchasing

It’s very important to find out the type of fragrance and the source of the fragrance. Make a purchase as per your need.

b) Do a patch test

Before making a purchase, take a 48 hours patch test. This could be done with the help of a dermatologist by applying patch strips on your back. You can also do it on your own while making a purchase at the store – just apply a tinge of perfume on your wrist and wait for 48 hours. If no symptoms appear, then make a purchase after two days. This exercise will also help you understand the three notes of the perfume that you wish to buy.

c) Preserve the perfume

If the perfume isn’t stored well, then the fragrant compounds can degenerate, and the perfume can lose its aroma. It can be due to the exposure to heat, light or oxygen. Remember that the perfume must be stored in a cool place, preferably in its cover to prevent any exposure to heat/light. You can store your perfume in the refrigerator too (not freezer), but make sure you seal it well and make a separate compartment for it to prevent any contact with the food.

Stuff Matters

– Compiled by Richa Pande


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A Magazine on Consumer Awareness


Laptops

Laptopsthings to keep top of mind when buying one

The terms ‘laptop’ and ‘notebook’ tend to be used interchangeably, though one can break these down into smaller categories, though they’re not always mutually exclusive – for example, an

to start off, you want to figure out what you will be using it for. Will you use it for personal or professional purpose? or will you use it for gaming? everyone wants the best performance, sure, but what about price? And how often do you plan on carrying it around? How big a screen can you get before you sacrifice portability? It’s understood that portability is the main, if not entire, point of a laptop, but the size and weight of the device will have a bearing on your decision. then again, if portability is not the deciding factor, you may find yourself more confused – as the boundaries between categories blur, you will find new desktops that are almost as small as a laptop. You will wonder if you should get a desktop, because it is very likely that you will get more performance for the same money—plus more flexibility in customizing/upgrading the machine once you buy it. Conversely, you can easily find a laptop that’s just as powerful as a typical desktop. And then there are some slightly unconventional categories, such as laptops that convert into tablets, tablets that convert into laptops, and all-in-one desktops that don’t need a separate monitor. thankfully there is literally a whole web of information and reviews out there, though figuring out the pros and cons can leave some of you more confused than before. overall, getting objective is key and hence we have in this report tried to simplify the choosing task by zeroing in on the attributes that commonly matter.

ultraportable can also be convertible. So let’s see what types of laptops are out there.

• Notebook: It’s the general term for a full-sized laptop that strikes a balance between portability and functionality. These can vary

30 •

capital U) is a specific type of ultraportable that meets specifications set down by Intel. Among their strong points is strong security and anti-theft protection built in at the hardware level. Although the MacBook Air is regarded as the inspiration for the Ultrabook class, it's not actually an Ultrabook.

• Netbook: These are small, inexpensive laptops that run off the low-powered Intel Atom processor. These have been largely phased out, to be replaced by tablets, Ultrabooks and ultraportables.

• Chromebook: This one is a notebook or ultraportable laptop that runs Google’s operating system called Chrome. Chrome OS looks like the Chrome web browser and can only run apps downloaded from the Chrome Store.

• MacBook: Apple’s laptop computers come in three families – the ultra-thin MacBook and MacBook Air models, and the high-performance MacBook Pro in 13-inch and 15-inch sizes.

• Convertible: These combine the features of a laptop and a tablet. They’re also known as 2-in-1 laptops. They can quickly switch

Food & StuffProduct Survey

Desktop Computers

Many people have moved away from desktops in the past decade. However, there’s still a lot to recommend desktops for many users. Desktops typically offer more performance for the money and durability than laptops, and are less expensive to repair. They may allow for a more ergonomically correct work environment, let you work on a larger screen, and generally come with better speakers.

greatly in overall size and specification in terms of processor speed, storage capacity, memory (RAM) and screen size. These can also vary greatly in price, from low-cost budget models to high-performance productivity and gaming laptops.

• Ultraportable: These thin, light laptops are designed for mobility (also sometimes called a subnotebook). Maintaining a super-slim profile means they have to cut out some features such as built-in CD/DVD drive and speaker size, and reduce the number of connection ports. The smallest models weigh about a kilogram. An Ultrabook (note the


Laptops

between touchscreen tablet mode and traditional keyboard mode, transforming in a variety of ways, including detaching, sliding, twisting and fold-back mechanisms. Most models now use the fold-back or detachable screen mechanisms.

Which One Should You Buy?

Within each brand’s laptop are usually several similar models that vary in power, capacity and a range of other features. Picking one that suits your needs can be a bit of a pain though. Do you go for a budget unit with limited capabilities, a high-powered top-end laptop that can play the latest games without breaking a sweat, or something in-between?

That’s a question only you can answer, but first it’s a good idea to narrow down how you intend to use your laptop.

• Ifyouwantacheaplaptopforbasictasksandoccasional or lighter use and aren’t overly concerned about performance, weight or battery life, you can find many ‘budget’ models that will do the job.

• If you travel a lot and want to take it withyou, you’ll want something thin, light and easy to carry – an ultraportable (including Ultrabooks).

• If you want something to give you all thepower of a desktop computer while being transportable with relative ease, go for a

multimedia powerhouse such as a gaming machine.

The categories of entry-level, mid-range and high-end models are not objectively set to meet specific criteria – in other words, they’re a general description or broad guideline. There is no official classification for these categories.

The High and the Not-So-High

Here’s a broad guide to the unofficial categories of entry-level, mid-range and high-end models:

• Entry level: These low-cost laptops are relatively low-powered, but quite capable of most general computing tasks like web browsing, email and general word processing. They can handle most basic multimedia tasks – like standard-definition video streaming – and are best suited to casual users and younger students.

• Mid-range: Aimed at regular computer users, families, students and business people, mid-range computers can run most software and games but may struggle a bit with high-end functions like video editing and games that require fast graphics processing.

• High-end: For serious computer types that like to push their systems with intensive computing tasks like editing video and audio, 3D rendering and high-end games, these are obviously the ones to go for.

32 •

Features-wise

It is worth discussing the main features that finally tilt the decision in favour of one laptop type against the several others. The amount of technical specifications and jargon used by laptop manufacturers and retailers is dizzying. To ensure that your pick has what you need, read on.

• Storage space: Storage capacity, measured in gigabytes (GB) or terabytes (TB, equal to 1,000GB), determines how many things your PC can hold. Documents, photos, music, movies, programs – they all take up space. Bigger is usually better, although solid-state drives (SSDs) are usually more expensive for considerably less space. This is because they load much quicker and are completely silent. We’re also seeing a lot of cheaper laptops (including Chromebooks) carrying eMMC flash storage, which is slower than SSDs and gives you very little storage space.

• Processors: The processor is the brain of your laptop, and this is one component that can really ramp up the price of a laptop. Generally, the more gigahertz (GHz) a processor has, the faster it will be. But they also come as dual, quad, hexa or octa-core – the more cores, the better it will be at running multiple programs at once. Because of the different elements available, it can be tricky to unpick exactly

whether one laptop is faster than another. Is a 2.5GHz dual-core processor better or worse than a 2GHz quad-core? The i7 is the fastest on the market, but the i3 and i5 will normally have plenty of power for opening multiple browser tabs at once and carrying out office tasks smoothly. (Note that a higher number means a more recent edition and better performance.) If you see the words Pentium, Celeron or Atom, these are Intel’s cheaper chips and are normally towards the bottom end of the performance register. Some laptops have AMD chips instead – the K10 series is among the newest and fastest.

• Memory (RAM): Not to be confused with storage space, memory is measured in RAM (random access memory) and determines how much information your computer can store in its short-term memory. More RAM means faster load times and smoother switching between programs. The standard for RAM nowadays is 4GB or 8GB, with anything more being a bonus; 2GB of RAM will be painfully slow. High-end gaming would require more than 12-16GB.

• Screen size and resolution: A laptop’s screen is one case where bigger isn’t always better. If you want a longer-lasting battery and a more portable device, then you may want to go for



Size and All

While there are always exceptions to the rule, the size of a laptop can give you a decent idea about the quality and specs they have.

• Smaller (10” to 13” screen size): A 10- to 13-inch laptop is best for people frequently on the move. These laptops are typically light enough to travel with you. They may not have the absolute fastest processors around, but laptops in this size range are nowadays more than capable of handling everyday productivity tasks with ease. Battery life varies but should get you through a typical workday with no questions asked.

• Medium (14” to 16”): This size range offers the ideal balance of performance, portability and price for many users. Midsized models are a good choice if you take your machine along less frequently or if you need to use it extensively for work. Such a laptop can easily be configured as a desktop replacement. This range has the largest share of sale across the world.

• Large (17” to 18”): These laptops tend to use top-performing processors with standard hard drives that give you tons of storage, though not top performance. The larger screen can make it more comfortable to work on multiple windows, professional designing or large spreadsheets.

an 11-, 12- or 13-inch display. The largest you’re likely to see is 15 or 17 inches. Most machines on the shelves now have a Full-HD 1,920x1,080-resolution display and you can pay more to get more pixels. Generally, the higher the resolution, the sharper the picture. Only cheaper machines have a lower screen resolution of 1,366x768.

• Battery life: Manufacturers often make heady claims about how long their laptops’ batteries last for. But various tests show that these estimates are often rather exaggerated – the only way you can really know how long a battery will last is by reading authentic reviews. Think of it this way: how much time do you want to spend with your laptop every day? Use that as the benchmark for battery life as the longer lifespan you have, the less of a slave you are to the power cable. If you spend most of your day at a desk, then this is less important. Battery stamina on desktop-replacement models won’t be as crucial, as they’ll almost always be near a power socket. If you are buying a portable laptop that you intend to use when travelling or on your commute, then make sure the battery life is at least six hours.

• Laptop ports and drives: Most modern laptops don’t come with built-in DVD

drives. When it comes to ports, the more the merrier is the general rule. In any case, make sure you have at least 3 USB ports in total. If you don’t have many accessories that need plugging in, though, then you needn’t worry too much. USB 3.0 is considerably faster than USB 2.0, too, so look out for those wherever possible. More and more laptops are now fitted with USB-C connections. This is the latest standard of USB – it’s faster and smaller than the older style of port, and also uses reversible connectors for easier use. If you plan to use the laptop to connect with a projector for presentations, then you should also check with a D-sub/VGA port as most basic projectors use those.

• Chromebooks: We can see why Chromebooks end up on a lot of buyers’ shortlists: they tend to be small, light and, most appealingly, cheap. Instead of Windows or MacOS, they run off Google’s dedicated Chrome operating system. The main limitation is that they generally require you to be online to access your documents.

• Warrantee: Most of the laptops come with 1 year–2 years company warrantee. At the time of buying, make sure that regular using softwares are installed and it should be internet and wifi ready.

Laptops

34 •

Sl No. Brand and Model Specification Price (Rs)

1 Lenovo – Lenovo IP 320 Lenovo IP 320 RAM:8GB GRAFICS: 4GB HDD: 1TB OS:DOS

36,525

2 Dell – Dell 3567 I5 Dell 3567 I5 Gen 4GB, 1TB HDD, 2GB Grafic, Win 10 office

38,831

+ GST

3 HP 15q-BY003AU 15.6-inch Laptop (A6-9220/4GB/500GB/Windows 10/Integrated Graphics), Sparkling Black

25545

4 Dell Latitude 3480 14-inch Laptop – Core i3 (6th Gen) 6006U/4GB/1TB/14"/Linux (Black)

28,829

5 HP Pavilion x360 11-AD031TU

11.6-inch Laptop (7th Gen Intel Core i3-7130U Processor/4GB/1TB/Windows 10/Intel HD Graphics 620), Natural Silver

38,900

6 Lenovo IdeaPad 320S 80X4004QIH [CI5 7TH/4GB/1TB/NO DVD/WIN10/14" Grey1.7KG]

46,000

7 Asus X541UA-DM1233D 15.6-inch Laptop (6th Gen Core i3-6006U/4GB/1TB/DOS/Integrated Graphics), Black

25,779

8 Lenovo IdeaPad 110 15.6-inch Laptop (Core i3-6006U/4GB/1TB/DOS/Integrated Graphics), Silver

32,469

9 Lenovo 80X400HCIN 14-inch Laptop (i3-7130U/4GB/1TB/Windows 10/32Bit/Integrated Graphics)

33,990

SPECIFICATIONS AND PRICES AT A GLANCE: OF 20 LAPTOP MODELS

Dell XPS 13

Lenovo Yoga 920

Google Pixelbook

MacBook Air

Lenovo IdeaPad 320S

MSI GS65 Stealth



10 Lenovo yoga 710 7th Gen core i5, Ram 4GB, HDD 256GB SSD, Display, 14” touch, OS-Windows 10, Office convertible

53,000+

GST

12 dell inspiron 15 -3567 Intel Core i3-7100U X2 2.4GHz 6GB 1TB 15.6"Win10, Black

34,680

13 dell New Latitude 3460 Intel Core i3 5th Gen-5005U/4GB/500GB/14 LEDHD 1366 x 768/Dos/1 Year Warranty with Adp/WithoutBag

32,500

14 Dell XPS 13 13.3-inchUltrabookComputer(2.2GHzIntelCorei5Processor,4GBDDR3SDRAM,128GBSolidStateHardDrive,Windows8)

64,260

15 Apple MacBook Air Apple MacBook Air MMGG2HN/A-I5, 8GB, 256 SSD

82,300

16 Microsoft Surface Book 2 (13.5 inch)

7th generation Intel Dual Core i5 Processor, 256GB of storage, 8GB RAM

95,064

17 Apple MpXQ2hN/A Core i5/8GB/128GB/Mac OS/Integrated Graphics,SpaceGrey

102,850

18 Google Pixelbook 7th Gen Intel® Core™ i5 processor, 8GB RAM and 128GB, 10.3 mm and weighs 2.45lbs. 12.3” 360° touchscreen display

158,000

19 Lenovo Yoga 920 Glass 80Y8003TIN, Intel Core i-7-8550U 8th Generation Processor, Win10, 16GB DDR4 SDRAM, 512GB SSD, Integrated Gfx, 13.9 Ultra Hi-Definition IPS MULTI-TOUCH LED Display

158,000

20 MSI GS65 Stealth 15.6" 144Hz 7msUltraThin 4.9mmBezelGamingLaptop GTX 1060 6G i7-8750H (6 Cores) 16GB256GB SSD RGB KB VR Ready, Metal Chassis,Blackw/GoldDiamondCut,Win1064bit

125,930

Note: The prevailing prices are of computer markets in Delhi and may vary from retailer to retailer.

Laptops

36 •

Many reasons why you should consider investing in pension plans. After all, it’s all about post-retirement income planning – so you not only maintain your living standards but are also able to meet unexpected expenses. these are plans with life cover (death benefit) coupled with a modest return (by way of growth of units invested in the market), and are designed to offer a regular income after retirement. Also, these plans allow the policyholder to voluntarily choose the date (which is also known as ‘vesting date’) from when they would start receiving the pension. since there is no shortage of insurers offering pension plans, you can choose from a bevy of options. the following report is an attempt to understand unit-linked pension plans in detail and also compares plans offered by various companies.

subas tiwari & Gopal Ravi Kumar

Pension Plans Combining investment with life cover and pension

Why should you invest in retirement pension plans? Let’s consider the following points:

•Riseinlifeexpectancy

With improved healthcare and availability of/accessibility to super-specialty hospitals, life expectancy has improved significantly, from 67.29 per cent (2012) to 69.09 per cent (2018). More people

now expect financial support after their retirement. These plans offer excellent financial support for aged persons, especially those from unorganized sectors.

•LackofadequatesocialsecuritysysteminIndia

There is at present no social security in place for people in India who have no means of receiving any

In the NewsBFSI


In the NewsPension Plans

income after their working years are over. There is an absolute need for such pension plans in India.

•Risinghealthexpenses

Pension plans provide additional financial support when medical expenses run high. This is especially true of plans that provide for maturity amount in lump sum or that provide for partial withdrawals. Before you choose a policy, make sure you go over the details of the policy so you know exactly what you will be getting from it.

•Ensuresregularflowofincome

These plans offer regular pension income that can be in addition to any other pension fund one may be receiving as an employee of an organization.

•BenefitsunderIncomeTaxAct

Under sections 80 (C), 10 (10A) and 10 (10D) of the Income Tax Act, there are exemptions on premium paid, commuted pension received and maturity lump-sum amounts received.

Quick Tips

• Startatanearlyageandchooseaplanthatassuresyouofaguaranteedpensionforlife(oratleastupto 80–85 years of age).

• Pickaplanthatsuitsyourincome.

• Chooseaplanthatleviesleastofcharges(towardsfundmanagement,policyadministration,premiumallocation, investment guarantee, etc.) so as to ensure that the fund value/net asset value (NAV) is not eroded.

• Youarebetteroffwithaplanthatoffersminimumpremiumpaymentsothatdefaultdoesnotoccur.

• Chooseaplanthatprovidesforpartialwithdrawal.

• Chooseaplanthatprovidesformaturitylump-sumbenefit.

What You Need to Know

• Unit-linked life insurance plans are differentfrom traditional insurance plans (endowment/participating) and are subject to different risk factors.

• Premiumspaidinunit-linkedlifeinsuranceplansare subject to investment risks associated with capital markets, and NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market.

• Theinsuredisresponsibleforhis/herdecisioninjoining the fund.

• Thepastperformanceofthefundisnotindicativeof future performance.

• Thereareassociatedrisksandapplicablecharges,which one should find out from the insurance agent or the intermediary or the policy document issued by the insurer.

• The name of the unit-linked life insurancecontract does not in any way indicate the quality of the contract, its future prospects, or returns.

Income Tax BenefitsSection 80C Under Section 80C of Income Tax Act, 1961 (as amended up to date), the premiums paid each year are eligible for income tax deduction (subject to the ceiling of Rs 150,000 per each assessment year), along with other notified securities deduction from gross total income.

Section 10 (10A)This tax exemption benefit is available on the commuted pension amount that is paid either on the vesting date or on maturity of the policy plan (under Clause 23 AAB).

Section 10 (10D)Under this section, the maturity benefits you receive under the policy plan (maturity benefit of all premia paid + bonuses paid + any partial withdrawal paid, if any) qualify for income tax exemption as an eligible deduction from your total income.

38 •

We chose 10 pension plans based on consumer feedback, product structure and availability of full information in the public domain (including official websites and brochures). The parameters on which we have compared them include maximum and minimum vesting age, maximum and minimum policy term, minimum premium, maximum and minimum

Notes:

a)Informationgivenherehasbeensourcedfromwebsites,brochuresandcustomercare.

b) Premium is dependent upon individual age, health profile, benefits opted for, and period of insurance.

c) We have selected for this study retirement pension plans that are unit-linked and non-participating.

d) We have not selected endowment and non-linked retirement pension plans for this study.

e) NS – not specified

f) A – annuity, M – maturity

In the NewsBFSI

RETIREMENT PENSION PLANS (UNIT-LINKED): A COMPARATIVE CHART

CV Weightage (Criteria) Points:

100

Retirement Pension Plans (Unit-Linked)

Canara HSBC OBC

IDBI Federal

HDFC Life

Bajaj Allianz Life

SBI LifeEdelweiss

TokioMax Life

Aditya Birla Sun

Life

ICICI Prudential

Reliance Life

Smart LifeLong

Wealth Gain

Click 2 Retire

Retire RichRetire Smart

Easy Pension

Forever Young Pension

Empower Pension

Easy Retirement

Smart Pension

5 Entry age – minimum (in years) 7 (5) 5 (5) 18 (5) 30 (2) 30 (2) 18 (5) 30 (2) 25 (2) 35 (1) 18 (5)

5 Entry age – maximum (in years) 65 (3) 60 (1) 65 (3) 73 (5) 70 (5) 75 (5) 65 (3) 70 (5) 70 (5) 65 (3)

5 Minimum premium (yearly, in Rs) 25000 (3)30000

(2)24000 (3) 15000 (5) 24000 (3) 15000 (5) 25000 (3) 18000 (4) 48000 (1) 20000 (4)

5 Minimum policy term (in years) 10 (5) 10 (5) 10 (5) 7 (5) 10 (5) 10 (5) 10 (5) 5 (5) 10 (5) 15 (2)

5 Maximum policy term (in years)99 - (entry

age) (5)20 (2) 35 (3) 30 (3) 35 (3) 67 (5) 45 (4) 30 (3) 30 (3) 30 (3)

2 Minimum vesting (maturity) age for payment (in years) 10 (2) 18 (2) 45 (1) 37 (2) 40 (1) 45 (1) 50 (0) 30 (2) 45 (1) 45 (1)

3 Maximum vesting (maturity) age for payment (in years) 99 (3) 74 (1) 75 (1) 80 (3) 80 (3) 85 (3) 75 (1) 80 (3) 80 (3) 75 (1)

5 Premium allocation charge – maximum (on 1st premium, yearly, in %) 8.40 (1) 3 (2) Nil (5) 8.50 (1) 5.75 (1) 3.00 (2) 2.00 (2) 6.00 (1) 3.00 (2) 8.00 (1)

10 Policy administration charge (monthly, in %) – maximum 0.05 (7) 0.25 (7) Nil (10) 1.70 (4) Yes (1) 2.50 (2) 0.36 (7) 5.00 (2) 0.25 (7) Yes (1)

5 Fund management charge – maximum (yearly, in %) 1.35 (2) 1.35 (2) 1.35 (2) 1.25 (5) 1.35 (2) 1.35 (2) 1.25 (5) 1.35 (2) 1.35 (2) 1.35 (2)

5 Investment guarantee charge – maximum (yearly, in %) NS (0) NS (0) 0.50 (1) 0.25 (5) 0.25 (5) 0.35 (3) NS (0) 0.25 (5) NS (0) NS (0)

5 Mortality charge Yes (1) Yes (1) Nil (5) Yes (1) Nil (5) Yes (1) Yes (1) NS (0) NS (0) Yes (1)

3 Investment fund options 7 (3) 8 (3) 3 (2) 1 (1) 3 (2) 2 (2) 2 (2) 2 (2) 2 (2) 1 (1)

2 Guaranteed/Loyalty addition benefit Yes (2) Yes (2) No (0) Yes (2) Yes (2) Yes (2) Yes (2) Yes (2) No (0) Yes (2)

10 Maturity/Annuity benefit M (10) M (10) A (5) A (5) A (5) A (5) A (5) A (5) A (5) A (5)

10 Partial withdrawal facility Yes (10) Yes (10) NS (0) NS (0) NS (0) NS (0) No (1) NS (0) No (1) NS (0)

15 Customer Feedback 9 5 7 6 8 5 5 4 5 4

Total 71 60 58 55 53 53 48 47 43 36

entry age, and charges for premium allocation, policy administration, fund management, investment guarantee, etc. We gave the highest weightage (15 points) to consumer feedback, which helped in determining product and service quality as well as the most important and beneficial variables. These variables have a direct bearing on the product structure.


CV RECOMMENDATIONS

Best Buy

Canara HSBC OBC Life Insurance (Smart Lifelong)


What are not available under these plans?o Loans o Rebates on premium (Section 41 of Insurance Act, 1938)

What are available?o Nomination is allowed (under Section 39 of Insurance Act, 1938, as amended up to date)o Assignment and transfer of policy is allowed (under Section 38 of Insurance Act, 1938, as amended up to

date)

RETIREMENT PENSION PLANS (UNIT-LINKED): A COMPARATIVE CHART

CV Weightage (Criteria) Points:

100

Retirement Pension Plans (Unit-Linked)

Canara HSBC OBC

IDBI Federal

HDFC Life

Bajaj Allianz Life

SBI LifeEdelweiss

TokioMax Life

Aditya Birla Sun

Life

ICICI Prudential

Reliance Life

Smart LifeLong

Wealth Gain

Click 2 Retire

Retire RichRetire Smart

Easy Pension

Forever Young Pension

Empower Pension

Easy Retirement

Smart Pension

5 Entry age – minimum (in years) 7 (5) 5 (5) 18 (5) 30 (2) 30 (2) 18 (5) 30 (2) 25 (2) 35 (1) 18 (5)

5 Entry age – maximum (in years) 65 (3) 60 (1) 65 (3) 73 (5) 70 (5) 75 (5) 65 (3) 70 (5) 70 (5) 65 (3)

5 Minimum premium (yearly, in Rs) 25000 (3)30000

(2)24000 (3) 15000 (5) 24000 (3) 15000 (5) 25000 (3) 18000 (4) 48000 (1) 20000 (4)

5 Minimum policy term (in years) 10 (5) 10 (5) 10 (5) 7 (5) 10 (5) 10 (5) 10 (5) 5 (5) 10 (5) 15 (2)

5 Maximum policy term (in years)99 - (entry

age) (5)20 (2) 35 (3) 30 (3) 35 (3) 67 (5) 45 (4) 30 (3) 30 (3) 30 (3)

2 Minimum vesting (maturity) age for payment (in years) 10 (2) 18 (2) 45 (1) 37 (2) 40 (1) 45 (1) 50 (0) 30 (2) 45 (1) 45 (1)

3 Maximum vesting (maturity) age for payment (in years) 99 (3) 74 (1) 75 (1) 80 (3) 80 (3) 85 (3) 75 (1) 80 (3) 80 (3) 75 (1)

5 Premium allocation charge – maximum (on 1st premium, yearly, in %) 8.40 (1) 3 (2) Nil (5) 8.50 (1) 5.75 (1) 3.00 (2) 2.00 (2) 6.00 (1) 3.00 (2) 8.00 (1)

10 Policy administration charge (monthly, in %) – maximum 0.05 (7) 0.25 (7) Nil (10) 1.70 (4) Yes (1) 2.50 (2) 0.36 (7) 5.00 (2) 0.25 (7) Yes (1)

5 Fund management charge – maximum (yearly, in %) 1.35 (2) 1.35 (2) 1.35 (2) 1.25 (5) 1.35 (2) 1.35 (2) 1.25 (5) 1.35 (2) 1.35 (2) 1.35 (2)

5 Investment guarantee charge – maximum (yearly, in %) NS (0) NS (0) 0.50 (1) 0.25 (5) 0.25 (5) 0.35 (3) NS (0) 0.25 (5) NS (0) NS (0)

5 Mortality charge Yes (1) Yes (1) Nil (5) Yes (1) Nil (5) Yes (1) Yes (1) NS (0) NS (0) Yes (1)

3 Investment fund options 7 (3) 8 (3) 3 (2) 1 (1) 3 (2) 2 (2) 2 (2) 2 (2) 2 (2) 1 (1)

2 Guaranteed/Loyalty addition benefit Yes (2) Yes (2) No (0) Yes (2) Yes (2) Yes (2) Yes (2) Yes (2) No (0) Yes (2)

10 Maturity/Annuity benefit M (10) M (10) A (5) A (5) A (5) A (5) A (5) A (5) A (5) A (5)

10 Partial withdrawal facility Yes (10) Yes (10) NS (0) NS (0) NS (0) NS (0) No (1) NS (0) No (1) NS (0)

15 Customer Feedback 9 5 7 6 8 5 5 4 5 4

Total 71 60 58 55 53 53 48 47 43 36

Good Buys

IDBI Federal Life Insurance (Wealth Gain)

Fair Buy

HDFC Life Insurance (Click 2 Retire)

40 •

Know These TermsSuicide clauseIf suicide takes place within 12 months from the date of issuance of the policy, repayment is made to the nominee/legal heirs up to the fund value as on the date of his/her death.

Vesting benefitIt is the age at which you choose to start receiving pension the pension regularly from your policy plan in spite of the plan term being longer.

Loyalty addition benefitThis benefit is available on meeting two conditions: a) the life insured is alive on the date of his/her being found eligible to receive this benefit, and b) all due premiums have been paid up to date without any defaultThis benefit is usually given for continuing the policy plan till its maturity and is paid by means of a certain percentage of the sum insured at prescribed intervals starting from a minimum prescribed period. It represents a portion of any monetary surpluses of the insurance company after valuation, which is shared with policyholders.

Investment guarantee chargeThis is a charge levied by most of the insurance companies for rendering the service of guaranteeing returns (say 110 per cent or 105 per cent) on the total premium paid by you. It is a charge levied as a percentage on the NAV value. This amount is charged only when the policy is in force.

Policy administration chargeThis is a charge levied on monthly basis from your fund value/by redeeming against accumulated units for the service rendered. Most insurance companies charge this fee; only the rates vary.

Fund management chargeThis is a charge that insurance companies levy on daily basis. It is charged to you as a percentage of fund value on yearly rests. This charge is for providing the services of the fund manager who will manage your portfolio in allocating your money into various funds as per market forces. This is charged before arriving at the NAV of your investment and that can change daily, albeit marginally, subject to market play. All insurance companies levy this charge.

Premium allocation chargeThis is the charge collected from the premium that you deposit and is deducted on yearly basis. This enables the company to invest the balance of the premium in units so that you can get better returns (subject to market conditions).

AnnuityIt is the regular monthly pension payable to you after you cross the vesting age.

Accumulation periodThis is the period when you pay premiums to accumulate funds for retirement.

Sum assuredThis is the amount that the nominee receives in the event of death of the insured during the accumulation period.

Participating plansThese plans give a share of the insurer’s profit to policyholders. This share is not fixed and depends on the financial performance of the company.

In the NewsBFSI



Life Insurance for Senior CitizensMost senior citizens would have paid off their debts by the time of retirement. By then, their children tend to be established too. So, you may wonder whether a retiree needs to continue with a life insurance plan at all. If you too have been considering what to do, look at your current financial scenario. You must continue with the life insurance plan if:

You still have a debt

Whether it is an unpaid home loan or a business loan, you need to pay off any kind of ongoing debt. Suppose you discontinue your life plan and something happens to you, your aged spouse or children may then have to take the responsibility of paying off the debt.

You have dependents

Are your parents still living with you? Do you have a partner or a child to support? Then you must carry on with your life plan even after you retire.

You wish to leave behind a legacy

If you have children and want to leave behind a legacy for them, a life insurance policy makes sense. This way, should anything happen to you, your nominees will be entitled to a large pay-out. However, if you don’t have dependents or children, a life insurance policy would not be the best option.

If you do not have any such liabilities, you can reconsider continuing your life insurance plan after retirement.

Courtesy: https://www.tomorrowmakers.com/articles/health-insurance/insurance-for-senior-citizens-is-it-worth-it

42 •

BFSI Guide

Readers are aware that the Consumer Voice BFSI Desk has been bringing out articles on banking, financial services and insurance matters every month. We are now extending this domain to cover advice, guidance and assistance to consumers on financial matters.

You may approach us with any financial grievance that you have or if you need advice on investment options/financial planning.

We have put up a dedicated landline for easy access to us (011-47331004; ask for Subas Tiwari at BFSI Desk). You may also email us at [email protected]

Consumer Voice Finance Helpline

TIER I

NON-MEMBERSLODGING YOUR GRIEVANCEALONGWITH INITIALCONSULTATION FEE (One-time)(TO BE PAID EITHER BY CASH OR NEFTIN FAVOUR OF 'VOICE SOCIETY')(consumers would then be called to present their complaint/grievance with documentary evidence)

Rs 1,000

MEMBERS OF CONSUMER VOICE MAGAZINE(IF SUBSCRIPTION FOR CV IS TAKEN FOR 1 YEARALONGWITH LODGING OF GRIEVANCE, A CONCESSIONAL FEE OF Rs 500 WOULD BE CHARGED)

Rs 500

TIER II

RENDERING QUALITY FINANCIAL ADVICE(enabling/facilitating early resolution of) consumer grievance)(A) RESULTING IN GRIEVANCE

Rs 2,000

RENDERING QUALITY FINANCIAL ADVICE(enabling/facilitating early resolution of) consumer grievance)

Rs 1,000

MITIGATION WITHOUT ANYFINANCIAL BENEFIT ACCRUING TO CONSUMER(B) RESULTING IN GRIEVANCE MITIGATION WITH FINANCIAL BENEFIT ACCRUING TO CONSUMER

Rs 3,000 (a

minimum of Rs 3,000 or 15% of financial benefit)

(A) RESULTING IN GRIEVANCE MITIGATION

WITHOUT ANY FINANCIAL BENEFIT ACCRUING TO CONSUMER)

Rs 3,000 (a minimum of Rs 3,000 or 15% of financial benefit)

TIER III

RENDERING FINANCIAL ADVICE ON INVESTMENT

Rs 10,000

RENDERING FINANCIAL ADVICE ON INVESTMENT

Rs 10,000AVENUES/OPTIONS AVENUES/OPTIONS

(resulting in consumer being able to maximise his interest income/dividend income)

(resulting in consumer being able to maximise his interest income/dividend income)

QUALITY FINANCIAL ADVICE – PAY FEE & BE FREE

(MANAGED BY BFSI DESK)


BFSI Guide

In March this year, in what was a landmark judgement, the highest court of the country allowed ‘peaceful death’ (passive euthanasia in medical terms) of terminally ill (vegetative state) patients when according to medical advice the patients are in ‘coma’ or in a state of condition where their chances of survival are considered ‘remote’. Alongside, it has made it mandatory to set strict guidelines that will govern when the same is permitted. the ‘living will’, therefore, becomes a crucial piece of document in this scenario.

Claiming the Right to Dieterminally ill patients can now make a living will

The ‘living will’ is an important document that a person, with deteriorating health or terminally ill, can execute in advance. Through this document, such a person can choose not to remain in

a vegetative state with a life-support system. If that person comes into that state, and it will no longer be possible for him/her to express their wishes in spoken words, the document will be presented to hospital authorities for appropriate action. Thus, in a living will, a person can make a statement in advance that their life should not be prolonged by putting them on a ventilator or an artificial support system.

Active and passive euthanasia

Active euthanasia, the intentional act of causing the death of a patient in great suffering, is illegal in India and cannot be done. It entails deliberately causing the patient’s death through injections or overdose.

Passive euthanasia, the withdrawal of medical treatment with the deliberate intention to hasten a terminally ill patient’s death, is now allowed thanks to the recent SC judgement.

44 •

Here it must be mentioned that the Supreme Court also laid down guidelines for adoption of a living will, including who would execute it and how a nod for passive euthanasia would be granted by the Medical Board.

Why a Living Will?

So, here’s a document that will on the one hand help relatives who may not want to pull the plug (terminate the life-saving systems in place) till the doctors treating the patient feel that the patient’s situation is hopeless – in any case, it will help to relieve them of the ‘guilt’ feeling that they are opting to snap off the life-support systems for whatever reason, whether it’s to save money or time. On the other hand, it strengthens the position of doctors in cases concerning the terminally ill – since the patient has already executed the living will, the decision of the doctors to end life-support systems will not be seen to have been made under pressure of relatives, especially when a large amount of property is involved.

Living will may be used by a person to also outline a full range of treatment preferences. It can spell out a person’s preferences for tube-feeding, artificial hydration, and pain medication when he/she can no longer communicate his/her choices.

Sample Format

BFSI Guide

My Living Will & Attorney Authorisation

This Declaration on My Life is made by me (full name of the person)

…………………………………………………………………………...................................................…

Resident of (full address)………………………………………………………………………...............…

…………………............ on (date)……………………… at place ……….........................………………

I am of sound mind and am making this ‘declaration’ willfully and voluntarily and after careful consideration.

If the time comes that I can no longer take part in decision regarding myself, this ‘declaration’ will comprise expression of my wishes and I request that all concerned should take these wished into account for taking any decision regarding my life.

If at any time, I reach the stage of terminal illness, and go into a coma with no reasonable expectation of regaining consciousness, or reach a persistent vegetative stage with no reasonable expectation of regaining significant cognitive functioning, or have a disease state from which I have no reasonable expectation of coming back to a life with reasonable quality of life, I should be deemed to decline to receive life-sustaining infusions, naso-gastric hydration and nutrition. In taking these decisions a panel of three doctors of relevant expertise, preferably including a palliative care physician, constituted by the administrative head of the hospital where I am admitted for treatment, may be consulted for their view whether there is any hope of my recovery for continuation of life of reasonable quality.

I request that this ‘declaration’ should be honoured by my family members and physicians as the final expression of my legal right to refuse medical or surgical treatment and accept the consequences of such refusal.


Claiming the Right to Die

In addition, and as a supplementary alternative, I hereby appoint …………………….............................

Resident of and ………………………………….. Resident of ………………………........………….......

Who have expressed their acceptance as such, jointly or severally, to be my attorneys for the purpose of securing compliance with the terms of this ‘declaration’ and also hereby vest in my attorneys, jointly or severally, the power to make decisions and take action on my behalf with regard to wishes expressed in this ‘declaration’, notwithstanding any contrary views held by any other person.

In the absence of both of these authorised attorneys of the time of taking the required decisions on my medical treatment, any member of my family will have the authority to express the wishes on my behalf regarding the above treatment.

I declare that this ‘Declaration’ and ‘Attorney Authorisation’ shall remain in force during my life time unless I revoke it at any time and until notice of its revocation has been received by my attorneys.

I understand full importance of this ‘Declaration’ and ‘Attorney Authorisation’ and am fully competent to make it.

DATE SIGNATURE

PLACE (Signature of Declarant)

This ‘Declaration’ and ‘Attorney Authorisation’ has been signed in the presence of undersigned by …………… (Name of Declarant) who is known to me and I believe that the signatory is of sound mind.

Witness I

Name…………...........................................................…….. Signature ………………......................…….

Address ……………………….....................................................................................................................

Witness II

Name………….............................................................…….. Signature ………....................…………….

Address ……………………….....................................................................................................................

The above ‘Declaration’ and ‘Attorney Authorisation’ has been signed in the presence of undersigned (Name of Declarant) who is known to the undersigned and who I believe to be of sound mind.

Signature of Authorised Attorney No. I

Signature ……………………......................................................................................................................

Address …………………....................................................................................................................…….

Signature of Authorised Attorney No. II

Signature ……………………......................................................................................................................

Address …………………....................................................................................................................…….

1. This document will not need to be executed on stamp paper.

2. Persons signing as Witnesses can also be the Authorised Attorneys.

Courtesy:PalliumIndia

46 •

BFSI Guide

What Is Palliative Care?

World Health Organization describes palliative care as a multidisciplinary approach that improves the quality of life of patients with life-threatening illnesses, and their families by relieving suffering and pain—physical, psychological and spiritual.

Depending on the requirements, palliative-care services can be extended at three levels:

Outpatient clinic (provide consultation, guidance and linking to homecare services)

Home care (patient treated at home through paramedics, counselors, volunteers)

Inpatient clinic (admitted to intensive and/or recovery care)

Connecting the Points

Palliative care needs to be started at the very early stages of one’s disease.

Doctors and patient need to be educated on alleviating suffering and pain.

The old and the infirm having no will to live and not responding to treatment either, with the

disease having reached a terminal stage, should be allowed to die in peace without further suffering and pain.

The patient and the family may be informed about organ/tissue donation through National Organ and Tissue Transplant Organization (NOTTO) and Deceased Organ and Retrieval Organization (DOROSO).

0000_Switch Karo Save Karo AD_Size_A4 Eng

RNI No: 72366/99 Postal Regd. No. Dl/(S)-01/3262/2018-20

Published on 5th of Every MonthPosted on 6th & 7th of Every MonthN.D.P.S.O

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