Tailoring Life Insurance to Your Unique Needs This Navratri

Nine Nights, Nine Policies: Tailoring Life Insurance to Your Unique Needs This Navratri

Each of the nine nights of Navratri are dedicated to a different form of Durga, the goddess of strength and protection. Maa Durga’s nine distinct forms represent her nine most important virtues, as well as her different life stages. And each form of Durga provides a different type of protection to her devout followers. Just as the nine faces of the goddess are diverse, insurance policies can also vary drastically in the coverage and financial benefits they provide.
 
Different insurance policies rarely cover all the same eventualities, nor do they all provide the same type of coverage and returns. Navadurga’s forms are the ideal representation of the various life stages in a person’s life, and each stage of your life deserves a fitting insurance policy to ensure the safety and security of you and your family.  

Night One: Shailputri and The Importance of New Beginnings
Shailputri symbolises the youthful form of Durga and she is the very first form to be worshipped during Navratri. Shailputri also represents new beginnings, and new beginnings is the perfect way to describe what every young person goes through when they first enter adulthood. For a young person, protecting themselves and their family against unpredictable eventualities is the best course of action. 

Term life insurance is a type of life insurance plan that financially safeguards your family in case of any unexpected event. Such long-term insurance policies are best taken at a young age. In fact, the younger you are the better your coverage will be for a lower annual premium. Since young people are generally healthier and in their prime, they are considered low risk individuals by insurance providers and tend to get the best premium/coverage split. 

Night Two: Brahmacharini- The Unmarried Goddess
Brahmacharini is the unmarried form of Maa Durga who symbolises purity. Those who are young and still unmarried rarely have to worry about a whole family, which allows them to take more risks when it comes to preparing for their financial future. ULIPs are insurance plans that combine insurance coverage and investment options. Of course, investments are always subject to risk, and market trends can be unpredictable. But at the same time, successful investments can drastically improve your returns and set you up for financial success. If you are young and need an insurance plan, consider opting for a ULIP plan for improved returns via investments.  

Night Three: To Stay Fearless Like Chandraghanta
Chandraghanta is the fearless goddess who overcomes all hardships. Middle-aged married individuals are often fearful of what would happen to their families in their absence. If you want to remain fearless and safeguard your family for your entire life, then consider investing in a whole life insurance policy. Whole life insurance policies are permanent and will provide coverage for the rest of your life. 

Night Four: Kushmanda- The Mother of the World
Kushmanda is believed to have created the entire known universe with just her smile, making her the mother of the world. Like all mothers, Kushmanda nurtures her creations and strives to give them the best life possible. If you have children of your own, then you know how important it is to ensure that they have a prosperous and peaceful future. Nowadays, there are insurance policies that specifically cater to children’s education and marriage plans. These policies will help you nurture your child’s future even in your absence. 

Night Five: Skandamata- The Protective Mother
Skandamata is always seen carrying her son on her lap, showcasing her protective and caring nature. If you aren’t satisfied with the safeguards provided by a traditional term insurance policy, then an endowment plan might be right for you. Endowment plans are term insurance policies where you receive a lumpsum amount plus additional bonuses at the end of the term. 

Such plans will not only keep your family secure during the term but will also give you a massive financial boost once the term ends. You can use this lumpsum amount to plan for your children’s future education, buy a new house, or even get ready for retirement! 

Night Six: Fight Against Misfortune Like Katyayani 
Katyayani is a warrior goddess who never gives up in the face of turmoil. Middle-aged and elderly people can end up facing serious health issues without warning, and in such cases, having a critical illness insurance can truly be a life saver. Critical health issues can destroy your savings and become a financial burden for your family. A critical illness rider can be added to your insurance plan to ensure that you get a lumpsum amount if you ever get diagnosed with a serious illness like cancer. The lumpsum provided by the rider will help you keep fighting on without having to suffer financial ruin. 

Night Seven: Kaalratri- Prepare For the Last Stages of Life
Kaalratri is the goddess that ensures that there is light even during the darkest times. Planning for retirement can be a gruelling process, as you are about to enter a stage of life where you can no longer depend on your salaried income. Thankfully, some insurance plans provide guaranteed returns at the end of your term so that you will always have a source of income.

Guaranteed income plans are ideal insurance plans for those who want to be prepared for the future. Guaranteed income plans provide periodic payments once your term ends, which means that you will have regular income even after retirement. 

Night Eight: Mahagauri- The Peaceful Goddess
Mahagauri is the goddess of serenity who fulfils the desires of her ardent followers. Those who are in their twilight years often deal with a whole host of health issues that put a strain on their peaceful retirement plans. Plus, the lack of a steady income can further compound the problem. Retirement plans or pension plans are catered towards those who want to plan for a peaceful future retirement. A retirement insurance plan will save your premium payments, slowly compound the value over time, and then provide a lumpsum or steady payment once your life cover term ends. Pension plans also offer a host of tax benefits for both the invested amount and the returns paid upon maturity. 

Night Nine: Siddhidhatri- Fulfil Your Aspirations
Siddhidhatri is the ultimate provider who helps her devotees achieve their dreams. Insurance plans that combine aspects of financial investment, like unit linked insurance plans (ULIPs), are ideal if you want to generate a large amount of wealth over time to achieve all your financial goals. Successful ULIP investments can help you buy your dream house and pay off your debts quickly to live a stress-free and financially stable life. 

Navratri is the time when people across India pray to Maa Durga for safety and prosperity. Investing in a good insurance plan now will ensure that your family enjoys financial safety and prosperity even in your absence. Each type of insurance plan has its own merits when it comes to providing financial security and wealth generation. Our team at Edelweiss Tokio Life Insurance can thoroughly guide you in the process of choosing the right insurance plans for your current life situation. For more information, give us a missed call at 02266116040. 

Chirag Iyer - BFSI Enthusiast

Chirag is a writer and an avid reader who loves to drink coffee! His other interests include boxing, karate, and singing.