April 18, 2008
Spur of the Moment
The constant news on inflation this past month got me thinking about people who have retired and I wondered how they cope. And suddenly it struck me that Insurance companies can develop policies to address this issue. I am not sure if its practical but can be fine tuned by economists ( and I am not one! ). The idea is like this... an individual maybe given an option to give his monthly requirements (grocery /fuel / vegetables /fruits) and the Insurance company can give a policy to meet these demands. This will ensure adequate safety for the policy holder against inflation and the insurance company will anyway benefit through the premia collected. I sounded this out to an expert who thought it was quite original:-). Any Insurance guys out there reading this post can suggest this as a possible product and don't forget to acknowledge me for the IP. Hahaha.