Life doesn’t always go as planned. We work hard for our families. We want to give them a good life. But what happens if we’re not there tomorrow?
This question scares many people. And that’s okay. It means you care about your family. Term insurance is the answer to this worry.
What is Term Insurance?
Let me explain this simply. You pay some money every year. If something bad happens to you, your family gets a large amount of money. That’s it. Nothing complicated.
It’s like a promise. You make sure your family won’t suffer financially if you’re gone.
Other insurance plans try to do many things. They mix savings, investment, and protection. Term insurance does one thing really well – it protects your family.
Why Do People Buy It?
Can you save 1 crore rupees by keeping aside 15,000 every year? It would take you almost 70 years. Term insurance does this job instantly. That’s the magic. Small payment, big protection.
How Much Money Should You Get Insured For?
Here’s a simple way to know:
Take your yearly income. Multiply by 10 or 15. That’s the amount you need.
If you earn 6 lakhs per year, get insurance for 60 to 90 lakhs.
Also think about:
- Your home loan
- Other loans
- Money needed for kids’ education
- Daily expenses for your family
Add all this up. Round it off. That’s your answer.
Why Age Matters A Lot
Amit bought term insurance at age 25. He pays 8,000 rupees yearly for 50 lakh coverage.
His friend Vikram bought the same at age 40. He pays 22,000 rupees yearly for the same coverage.
See the difference? Starting early saves a lot of money.
Also, when you’re young, you’re usually healthy. Getting insurance is easy. No one asks too many questions. No complicated medical tests. Wait till you’re 45 or 50? Insurance companies will check everything. They might charge more. Or say no.
What Stops People From Buying
“Nothing will happen to me”
We all think this. But accidents happen. Illness comes without warning. We can’t predict life.
“I don’t have money”
You spend 200 rupees on a movie. 500 rupees for eating out. But say no to 1,000 rupees monthly for insurance? Think about it.
“My office gives insurance”
Yes, but what if you change jobs? What if you lose your job? Your own insurance stays with you always.
“I won’t get my money back”
True. But that’s actually good news. It means you lived long. You stayed healthy. Isn’t that what we want?
The money isn’t wasted. You bought peace of mind. You protected your family. That has value.
What to Look For?
Don’t just buy from the first company you see. Take your time. Compare.
Check these things:
- How much do you pay every year?
- How easy is it to file a claim?
- Do they actually pay claims? Check their track record.
- Can you talk to someone if you have questions?
Some good insurance companies include Axis Max Life and others. Read reviews. Ask people. Make a smart choice.
Questions People Ask
Can I increase my coverage later?
Some plans allow this. Check before buying.
What if I stop paying?
Your policy ends. Your family loses protection. Don’t let this happen.
How long should my policy run?
Till your kids can earn. Till your loans are paid. Usually 20 to 30 years.
The Truth Nobody Tells You
We buy phones worth 50,000 rupees. We upgrade them every two years. We spend money on things we don’t really need.
But we hesitate to spend 10,000 rupees yearly on insurance. Something that actually matters. Why? Because we don’t see immediate results. We don’t get anything in hand.
But the real result is this – you sleep better at night. You work without fear. You know your family is protected.
That feeling? You can’t put a price on it.
Stop Waiting
I know someone who kept saying “I’ll do it next month” for two years. Then he had a heart attack. Now insurance is too expensive for him. His family worries every day.
Don’t be that person. You care about your family. You work hard for them. You want them to be happy and safe. Term insurance makes sure they stay that way. Even when you’re not around.
Your Next Step
Calculate how much coverage you need. It takes 5 minutes. Compare 3 or 4 insurance companies. Check their plans online. See what fits your budget. Call them. Ask questions. Understand everything clearly. Then buy it. Don’t think too much. Don’t delay. Your family is counting on you. Not just for today. For tomorrow too.
Final Words
Term insurance isn’t about thinking negative thoughts. It’s about being responsible. Your parents took care of you. Now you take care of your family. And term insurance helps you do that job properly. Buy it today. Thank yourself later. Because some decisions are too important to postpone, this is one of them.
