4 OCT 2016
Ensure that your family is financially secured
In earlier times, families were bigger with the brothers living with their families, and their kids family's in the same house. Relatives used to live next door and the neighbours were less of acquaintances and more of relatives. In such a scenario, tiding over a medical or financial crisis was relatively easy as the entire society consisting of friends, relatives, well-wishers etc would chip in and help the one affected. These days, with nuclear families being the norm, families are that much smaller. Each family is an island unto itself. Neighbours are unrecognisable and friends are too busy with their lives. Relatives are living in a distant town. If a medical or financial crisis were to manifest itself today, it would be a little tough for the family members to deal with it.
It is ironic that in the earlier days, you had to depend on your relatives to bail you out, but that dependency still had a touch of independence as you could return the borrowed money at your own convenience. Suppose you were to meet with an untimely demise or suddenly start suffering from a critical illness, how would you or your family generate the funds? You would either dip into your savings or go for some short-term debts from a local moneylender or pawn your assets like gold etc. This would take away your and your family's financial independence. If you pass away, in the midst of your bereavement, your spouse would have to think of how to make ends meet. She may not even have the chance to mourn your death decently.
What Is The Solution?
A comprehensive term plan like Edelweiss Tokio Life – Total Secure+ . It provides you with a term cover as well as a critical illness cover. A term cover is one, where in the event of your untimely demise, your family gets paid a fixed amount wither in lump sum or as a regular monthly payout in equal or increasing amounts. A critical illness cover is one where in case a critical illness out of the pre-listed illnesses occurs, you would get a lumpsum amount to use in any manner you please. You don't require to be hospitalized for availing of that sum.
So, if you have this plan in place, you need not move around trying to pawn your jewellery and generate the funds required. Generate a quote today to find out how Edelweiss Tokio Life – Total Secure+ can help you tide over the tough times in your and your family's life with their heads held high.
18 JAN. 2018
Benefits of Early Financial Planning For Parents
As a parent, you must know the significance of savings in daily life, but what about the future? As unfortunate events like death can occur anytime, you have to ...read more
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