23 OCT 2016
Why planning for the unexpected is important
“The future depends on what you do today”
Mahatma Gandhi (1869-1984)
Although he meant it in the sense that your future can be achieved living life one day at a time. With each passing day, what you do about your future would determine where you reach in the future. But this sentence has a deep meaning to it when we scrape the surface and look underneath.
The Future Is Uncertain
No matter what and how you go about planning about your future, it's still going to be uncertain. What you expect from the future is for the unexpected to happen when you are least expecting it. A tragic accident, a sudden health crisis, or perhaps worse, your untimely demise. These are things that you can't predict or expect with any degree of uncertainty. You know that one day you would pass away from this world, but whenever it happens, it would be untimely. That's why it is all the necessary that you prepare for the unexpected.
Prepare For the Unexpected
Although there is no way that you can be completely prepared for the unexpected. But there is a way for you to be prepared for something that happens after the unexpected event. In the aftermath of your untimely demise, your family would definitely be burdened by financial liabilities like paying school fees, home loan EMI's, utility bills and general maintenance expenses. Without you being around to support them, they need a financial back-up. This is what a term plan provides.
A Term Insurance Plan
A term plan is what can help your family in times when they need financial support the most. Term life insurance is a pure form of insurance which only provides death benefit. In other words, in the event of the life assured meeting with an untimely death anytime during the term of the policy, the nominee will be paid the sum assured. The nominee would need to submit the relevant documents along with the policy bond to make a claim in the event of the policyholder's passing away. This is the best way to protect your family financially. If you add riders like the waiver of premium, it helps to reduce the burden of paying the premium in case you meet with a critical illness or become disabled. This is the best way to plan for an uncertain future.
Generate a quote today for a term plan like Edelweiss Tokio Life – MyLife+ that helps you to secure financial protection for your family at very reasonable rates. Be future ready today by buying a term plan. You can't predict the unexpected, but at least keep your family financially prepared to expect it and face it.
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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