How adequate Life Insurance is going to protect your family?

The opportunities and hassles of the contemporary world bring to us an experience that is both sweet and sour; the same food that satisfies our tastebuds ends up upsetting our stomach; the same comfort that makes our lives easier brings to us the most devastating natural disaster. While we go to work and put in all the requisite efforts, our kids at home imagine a happy and healthy future; while we continue to move fast and break things, our kids at home continue to dream of going to be the best of colleges.

Are we ready to leverage them with the opportunities, they are looking forward to gaining? Are we prepared enough to push our kids in the direction of greater achievements and continue to support them with equal vigor, are we? A lot of us are not! Yes! Many of us have failed to buy adequate insurance that will take care of our families in our absence. We buy insurance only for the sake of buying it and saving taxes but not for safeguarding the future of our families in case something happens to us–The Bread Winners.

What do we mean by Adequate Insurance?

In layman terms, one can define, adequate insurance as the amount of money that will keep our families afloat for at least 10 years. Yes! Insurance policies worth 10 lac, 20 lac and 30 lac are not going to provide for our families for very long. With less insurance, our families will have to compromise at every stage and live in the scarcity of money and resources. It is only by buying adequate insurance that we can assure a happy run for our families in our absence.

Adequate Insurance can also be defined as the “Current Annual Expenditure Multiplied by 10”. One can use this formula and buy insurance and leave a legacy of happy and healthy life behind. Your family will not suffer monetarily in your absence if you take necessary steps today.

How to buy adequate insurance and pay for it without compromising on personal expenditure?

It is very tough to generate a corpus that will last for at least 10 years and support your family, in your absence without compromising on personal needs. Well! it is certainly difficult but not impossible. Life Insurance Corporation of India and other popular Insurance providers have come up with plans and policies that charge less premium but pay sums equal to 1 Crore on maturity or sudden death followed by steady monthly income. Such plans and policies when bought on time can solve each and every problem, your family will face in case of your sudden death.

What is the bottom line here?

Almost every other individual purchases life insurance to safeguard their families from financial hassle in case of their sudden demise but if they have not bought adequate insurance then the purpose of buying insurance goes waste. Well! if you are doing something for the welfare of your family then better do it right. Do not leave your family in a mess, develop a paradigm that will take them to the stairs of their dreamlife, even when you are not there.


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