I am young.
I am healthy.
I am earning well.
I have a small family.
Why do I need a life insurance policy now?
This is what most people think when it comes to buying a term plan and shield their family from unexpected rainy days.
What are the odds of passing away of a young, healthy person? Nobody wants to think about the unpleasant topic of death, disease, and sickness while drifting in the happy phase of life. Five years ago, we also neither considered it nor ever thought about it. We were a happy family of three – my husband, I and our four-year-old daughter. My husband was Sales Manager at a renowned company, and our life was going smoothly like everyone else’s.
We were excited about life with promotion in job and our travel plans. We were eagerly looking for big plans in life which we have been dreaming since the time my husband and I got married – a fancy car, moving to a new home, international travel – exciting things that filled our thoughts. But, life has something bitter in store for us. We were not aware of what was lurking around in the corner. My husband turned ill. Initially, we thought it a typical cough and cold. But in a month, it turned out to be a persistent bout of cough. After visiting a doctor, and a series of mind-boggling tests, the inevitable and unpleasant truth unfold before us. He was diagnosed with the last stage of lung cancer. It came without prior warning. We were not prepared for this; neither emotionally, nor physically. But, my husband was financially prepared for all the uncertainties in life as he had already purchased a Aviva i-Term Smart Plan – a term insurance policy when we were planning for our baby. He used to plan for everything and so he didn’t take the risk of not securing the life goals of his loved ones.
The passing away of my husband was the toughest phase of my life, and it also came with some of the greatest life lessons. My story is not meant to frighten you, but I want to make sure that everyone is aware of the stark reality of life and its uncertainties.
Read on to know that how Aviva i-Term Smart helped us to lead an economically normal life in the absence of my husband. .
It was a full-fledged support system
There were two loans to pay off when my husband passed away – home loan of around twenty lakhs and vehicle loan of four lakhs. You cannot depend on traditional life insurance policies to offer a high coverage. When your dreams are big, it should be supported by a well-nurtured plan. A term plan provides a high sum assured, for example, Aviva i-Term Smart offers 1 Cr. life-cover at just Rs. 17 per day. Not only this plan helped us to pay off all our loans, but with sufficient financial support, I was able to start my own small business. It made sure that our financial expenses are fulfilled even when my husband is not around. My daughter’s needs and education was well taken care of, and financially we were secured. Though the financial support didn’t lessen the pain of my husband’s parting away, it secured us financially and helped our life to go by.
Additional rider and optional benefit
Additional rider is an excellent feature of a term plan. Aviva i-Term Smart offers critical illness and disability rider-non linked rider which you can get added to the base plan. It covers 16 critical illness and permanent disability due to illness or accident. It also secured a family as it offers immediate payout on the first diagnosis of critical illness. As my husband has opted for additional rider, his illness was covered and so, paying his medical bills was hassle free.
A financial umbrella for uncertain times
When it comes to buying term insurance, many people often dub it as a dead investment. Very few of us realize and believe in the chances of passing away by any sudden calamity or ailment. Life is uncertain, and insurance is not for you but your family. Who would take care of them in case something unexpected happens? How would they get by the miserable times? Who would repay your loans? Can you imagine the conditions of your family amidst all the financial turmoil when they are already struggling with your sudden demise? My husband had perhaps thought about all these and so, he opted to purchase a term plan at a young age. A term plan can be a life-saver for your family in unexpected situations.
Tough lessons to learn from my life
Uncertainties in life can knock anytime. A term insurance plan can save your family from suffering economically. Their dreams are important, and their life should not suffer in your absence. A term plan not only secures your family’s future but also give you peace of mind. The best term time to buy a term insurance policy is NOW as tomorrow never comes. Buy a suitable term insurance plan early when it is still affordable. The longer you wait to purchase this policy, the more expensive it will turn. Take a wise decision for your family, the same way my husband did.