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Life Insurance is like a parachute

Updated: Jun 30, 2021

If you don’t have it when you need it, then you will never need it again ! Identify your Fear & Risk before selecting a proper Insurance Plan.

Looking at the amount of your annual premium, I can assume that you have started this policy to Save Tax. That's the first mistake; insurance is bought for covering your Risk, all other things come next. At your age, when u are not married and you have no major financial responsibility towards the family, you should aim at wealth building instead of insurance.

Please remember to buy an Insurance cover once you marry and get a financially dependent partner.

As the word suggest, Term Policy is a contract between Insurance company & the policy holder for a limited period, wherein the Insurance company will pay the death claim within that term. Since Term Insurance is always bought for your families protection,

you should always buy it through an agent; so that they can get personalised help at the time of claim ( if it occurs)


We are an expert in terms of Risk management and Insurance product distribution. In our next Blog of 28th June 2021, we will be sharing the most trending Insurance products under each category, with their features and advantages...Watch for it on Day 3 of our Campaigns on " National Insurance Awareness Day " !

It's a sad story of Shweta, 52 Yrs, whose husband died in 2019 due to Cancer. Shweta's husband, Shiva is survived by 1 daughter and a Son, besides Shweta. Shiva was a very hard working person and very good friend of mine. He use to run Rs 2000/- per month SIP for both his Kids, with an aim to create a descent corpus for their education and marriage in 15-20 Yrs. By god grace, his investments were growing well - when we last met in 2018 he had a descent corpus of around Rs 10 lacs in each of his accounts, but was not running any Life protection Plan. " I don't have money to fund for my Insurance premium ; my priority is to invest for my Kids first and then will see for any other expenses .." said Shiva, when I forced him to buy a policy Today, all his investments and savings put together is not more than 30 Lacs. Since Shweta was a housewife, she is not in position to get any job as such; house is on rent, Kids are still studying..and lot many more expenses are lying ahead ! That's where one need to understand the benefit of Insurance. If Shiva could have bought a simple Term Insurance of Rs 1 Cr, by paying Rs 1000/- per month ( approx), the whole story would be different . So the key things to discuss here are :

  • What stopped Shiva from sparing this small amount of Rs 1000/- towards the Life Protection ?

  • Did Shiva lack in the actual knowledge about Insurance Plans ?

As no body knows their death date, Shiva also did not know it ! But I always think back and say - why Shiva lied to his families ? Why did he always show like he loves them and care for them ? So in today's blog and lesson of Day 2, I humbly request you and urge you to evaluate your current Human Value and see if you have adequate investments or savings to replace your Human Value, in case of any unseen event ?

If Yes then all fine and if No, then must contact us to buy a Term Policy to cover it up immediately.

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