What do you want your legacy to be?

Not safeguarding the family’s future might leave them vulnerable to several future problems.

It is said that one’s life flashes by in front of one’s eyes as one is about to depart the world. One sees quick images of memorable incidents in one’s life in the last moments of consciousness. At this time, one is either contented about a life well spent or distressed about several tasks left incomplete.

Which one will be true in your case?

Life many others, you must wonder from time to time about your existence. Questions like ‘What is my value in the world?’ and ‘What legacy will I leave behind for my family?’ must occur to you. Chances are that you do not have all the answers yet. But you are certain of one fact: you want your family to think of you with love and admiration even after you are gone.

To this end, you must protect your loved ones from every kind of financial trouble in the future. Your absence must not stop them from fulfilling their destiny. Hence, it is important to take term insurance to safeguard their future interests. Not doing so may result in:

The household expenses suffering. Inflation continues to creep upwards and expenses rise daily. The prices of vegetables, fruit, toiletries, medicines and other essentials just keep on increasing. Then there are bills to pay as well. No amount of income is able to fully pay for all household expenses. Not taking term plan insurance will compromise your family’s lifestyle as they will be forced to forgo many expenses due to lack of money.

Your children’s education being jeopardised. School and college fees are quite high in India today, and higher education is even costlier. Your children might wish to pursue higher education abroad, or travel for a while after taking a gap year, or even start a small company. Or they might wish for a grand wedding. But inadequate money can scupper all these plans. Take term plan insurance to protect your children’s dreams.

Unpaid debts creating problems for the family. If you are gone without repaying all your loans, creditors will come calling on your loved ones. If there is no money to repay these debts, your family may have to sell a few things to deal with creditors. But taking term plan insurance means that the policy money can safely pay back the borrowed money.

Dependent family members not getting help. Your aged parents or younger siblings might be financially dependent on you. Your parents, especially, are vulnerable to financial constraints once they retire and their income stops. Instead of leaving them exposed to the vagaries of fate, it is wiser to take term insurance that can help them in their old age.