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If Tomorrow Never Comes.. Will Your Savings Be Enough for Your Loved Ones?

  7/15/23 9:52 AM

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Ajay and Priya were celebrating their second wedding anniversary. Ajay had invited all his friends for the celebration. While they were all chit-chatting and having a jolly good time listening to music. The song ‘If tomorrow never comes… started playing.

Rohan one of Ajay’s friends inquisitively asked, “So Ajay, If tomorrow never comes… how would you tell Priya that you love her?”

To this Ajay replied, “I won’t but my term plan would!”

There was a sudden silence.

Rohan asked him, “How will your term plan show her that you love her? Is your life insurance more important than your life and assets?”

Ajay replied, “Life is unpredictable and my family’s future is precious to me. And considering assets, do you think that your current savings and your car will be enough for your family’s financial security? If your answer is yes, you may want to rethink. These assets may be temporarily sufficient for your family. It will only last for the next 3- 5 years.”

Rohan asked, “Can you please explain?”

Ok. Let’s start;

“How many years do you think your savings would be sufficient?

Let’s assume a maximum of 5 years! God Forbid, what if something unfortunate event were to happen to you tomorrow? Will your family be able to survive the financial strain along with the emotional loss? You are the sole breadwinner of the family. Your parents have retired and you have a loving wife and a school going son. Will your wife be able to manage all of these finances all by herself including the Home Loan EMI? For some time your savings will help but that won’t last for long.

term insurance plan provides a high life cover i.e. a sum assured as high as Rs 1 crore for a premium amount of just a few thousand a year. These plans provide death benefit i.e. in the case of your sudden demise, your family members will receive the sum assured amount. You can choose the payout option as per your family’s needs. The options available are monthly, lumpsum or a combination of both monthly and lumpsum.

Let’s consider the second most dreadful thing apart from death which is a critical illness! Critical illnesses like cancer, heart disease, chronic kidney disorder and so on will not only impact our health but also our financial stability. It can exhaust your entire savings as the average treatment cost is somewhere between Rs 15 20 lakhs. Now, apart from eating up all your savings a critical illness also impacts your ability to earn and so the regular income what your family receives every month will be paused. The only way to secure yourself financially against critical illnesses is by choosing a critical illness cover.

Now let me tell you how my term plan will show Priya that I love her. I have chosen Edelweiss Tokio Life – Zindagi Plus as my term insurance plan. This plan provides me with a better half benefit. Under this benefit, on my sudden and unfortunate demise, Priya would receive a lumpsum amount as a death benefit and not just that she would also get a life cover which would be 50% of my life cover. This means in the future when we have kids; it would ensure complete protection to them as both their parents would be covered.

Edelweiss Tokio Life Zindagi Plus is a comprehensive protection plan which provides a death benefit, critical illness cover, cover against accidental total and permanent disabilities.

So Rohan, do you still have a doubt about how my term plan will express my love?”

That’s when Priya replied, “ I don’t know what Rohan has to say but I must mention that I’m a proud wife of a responsible man.”

Everyone in the room cheered for their love!

Ajay secured the love of his life, what about you?

Secure your dear ones now because Love lives on!


Swati Tumar - Travel & Finance Writer   

Swati is a Writer in the day and an illustrator at night. Among her interests, she is quite fond of art and all things creative. She often indulges herself in creating doodles, illustrations, and other forms of content. She identifies herself as an avid traveler and shameless foodie.

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