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benefits of life insurance

The Most Horrible Day of My Life

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Life offers a mix of happy moments and sad ones. Like change of seasons happiness and distress keep following one another. There are some days that offer such intense moments that both mind and intelligence succumb together. One such day came in my life; it was winter of 2nd December, 2011. I was having dinner with my family after a taxing day at work. Suddenly, the phone rang and at the other side of the call was my sister-in-law; she was crying and told me that my elder brother had passed away. I was shocked and the receiver fell from my hand. I reached his house as fast as I could; upon reaching there I consoled my family. When things were normal, I asked my sister-in-law whether bhaiya had any life insurance, to my utter dismay he hadn’t. He was only 40 and succumbed to a sudden cardiac arrest.

He was survived by his homemaker wife and a school going son. That typical tension was evident on bhabhi’s face that how would they meet ends, the savings won’t last for long. My elder brother was an engineer and was earning a good salary; his family was used to a decent standard of living, now the circumstances had taken a dramatic shift. His wife was also an engineer by qualification but chose to be a housewife after marriage. If in her late 30s she goes searching a job, she won’t find anything worth replacing even a fraction of the income my bother used to get in the house. Thus, the situation was very grave. It was my moral duty to support the family and since then I am taking their responsibility. Honestly speaking, at times the burden of this responsibility feels too heavy as I have my own family to support as well. But I never show it to bhabhi and my nephew. That is why I suggest everyone to get a life cover on priority basis.

Working class people live on a budget and have to plan for everything before purchasing. After paying for bills and saving for future, sometimes getting a life cover can appear to be too extravagant. One is often so busy in paying for things of immediate gratification that planning for death or its aftermath takes sidelines. Sometimes, we behave knowingly ignorant, it is not always that we skip to invest in a life insurance plan because of lack of awareness; it is because we don’t feel urgency for it. Planning for the aftermath of death sometimes seems like folklore or a prodigal activity. The psyche of delayed gratification or putting other’s interests before our own is something not easily attainable.

Whenever, we talk of a Term plan or other traditional life insurance plan, the biggest obstacle for the individual to buy it is that it does not offer any living benefits to him. The ideology of such people revolves too much around themselves and their love for their family is not unconditional. They care for their family because they need it. Such expression of love is based on selfish motives but real love is when you care for your family so much that their well being and happiness matters to you post your death also. This love is backed by servitude and responsibility. Yes, getting a term insurance plan won’t fetch you even a single penny while you are alive but it would give you immense peace of mind because of the surety that your family’s future is secured. Such galore of peace and tranquility is pricier than any amount of Premium that you’ll be paying for a life insurance plan.

Term insurance plan is the cheapest life insurance plan when you compare in terms of the sum Assured it is backed by. Especially if you buy it at a young age when you don’t have any illnesses, the premium costs you very cheap. The premium gets locked at the time of purchase of the plan, i.e., when you buy a plan, the premium remains same throughout the Policy period with only minor fluctuations, that too because of change in the rates of service tax. So, every sane person who is working and has a valid income proof should get a life cover at priority basis. One raises a family with so much toil, sweat and blood and seeing them happy is quite vindictive, then why let death put all that effort and sacrifices go in vein?