When Riya married Amit in 1998, she was 21 years old. She could never have imagined then that She would be a widow by 26, or that she had to take care of her 9-month-old baby all one.
As soon as she became pregnant, Amit started talking about life insurance; but Riya was hesitant. She was 24, but Amit was already thinking like an adult. It’s not that she wasn’t an adult; the topic of life insurance was just scary for her. She was pregnant with their yet-to-be-born child, and the last thing she wanted to think about was one of them dying.
Amit passed away on a Tuesday in March. The weekend before, they had an especially good time together. That Monday evening, their neighbour came over to watch a show. Amit sat with them but left early and was already asleep when Riya joined him later.
The next morning, he left for work without seeing Riya. She was just stepping down the stairs as she had a hair appointment in a salon but she stopped as she saw her brother Tanay. Tanay, who, like Amit, was a construction worker. He looked at her and said, “Riya, we have to go.”
She remembers him pulling her out of the chair, and driving to the hospital. Her first words were, “How bad?”
He just squeezed her hand.
When they arrived at the hospital, the other construction workers were there. It was hard for them to look at her—and that’s when she knew.
Riya’s story is a reminder that once you have a family; no matter your age; term plan is a must- absolutely essential.
Riya didn’t want to think about term plan at the time, but lucky for her, her husband had. How smartly Amit had chosen a term plan for her housewife in which after his demise the life cover will start in Riya’s name. This will be 50% of the life cover, up to an amount of Rs. 1cr. Riya won’t have to pay any premium and the nominee will also get the sum assured.
Term plans bought at an early age will be the best financial decision which will keep you worry-free for the rest of your life and helps you to attain bigger financial goals in your life. It is always better to be safe and secure than sorry.