There is a famous saying by David Gross, “God could not be everywhere, and therefore he made mothers.” This simple saying, tells you the importance of mothers. Mothers just cannot be replaced. Now mothers…think of your children. What would happen to your children, if something happens to you? They would be left to fend for themselves. Yes…there’s nothing you can do about the emotional loss, your husband and children suffer in your absence. But there’s something you can do about the money side of things. You can make sure your children are left with sufficient money, to have good education and enjoy a quality life. All you have to do….Simply buy a term life insurance plan on your life. Yes….you are the life assured under this term life insurance plan.
You don’t avail a term life insurance plan, because you are going to die. You avail a term life insurance plan, because your loved ones are going to live. Still think you don’t need a term life insurance plan? Think again. IndianMoney.com is India’s Largest Financial Education company, educating over 14000 people every day. IndianMoney.com offers genuine, unbiased, free on-call financial advice to ensure that you make wise financial decisions. To avail free financial advice/education from IndianMoney.com, all you need to do is, just leave a missed call on IndianMoney.com financial education helpline 02261816111 or just post a request on IndianMoney.com website.
You are the money manager of the family. You not only take care of the kids….you also help your family, save money. This is what your kids say about you. Sure, dad earns the money….but Mom makes sure the money is well spent. Mom removes the juice out of every rupee, dad brings home. Mom makes sure all the bills are paid on time. The water bill, electricity bill, mobile bills…all paid well within their due dates. There is no question of paying the bills late and then, late payment charges.
Mom is the bargain hunter of the family. Everywhere she goes….she just looks for discounts and deals. A retail clothes shop has an offer…. 50% off on shirts and trousers. Mom goes in and buys dad, a shirt and a pair of trousers. Mom also takes care of the family budget. She handles the shopping of groceries and looks for good deals while buying fruits and vegetables…Yes, my Mom is the best in the World and irreplaceable.
When your kids find you irreplaceable, there is something you definitely must do for them. Buy a term life insurance plan on your life. You pay money called the premium and avail a term life insurance plan. This money is paid for a fixed time period, called tenure of the plan. If you die within the tenure of the term life insurance plan, your children (nominees), get money called the death benefit. Of course you get nothing, if you survive the term of the plan. Sure….money cannot replace you for your children. But at least it’s better than nothing.
You are a working Mom. You have twin responsibilities….
Manage the home + Manage office duties.
You work in a reputed Company and earn good money. You spend a lot of money, to give your children a quality life. Your children have come to expect the better things in life. Now to the big question….God forbid if something happens to you, how would your children get good education and a quality life, without money? Your family will be literally poorer without you. Sure….your spouse could take care of things…but earning money and taking care of children, is a herculean task. Worse….your spouse would have to do all this, without your salary. What can you do to help reduce his burden? Simple….Just avail a term life insurance plan on your life. Your spouse and children (nominees), get money called the death benefit.
The benefit of term life insurance
You and spouse have availed a home loan in both your names (joint home loan), to buy your dream home. Your spouse has availed a term life insurance plan on his life. Should you not buy a term life insurance plan on your life? If something untoward were to happen to you, the death benefit would be used by your spouse, to pay back the home loan.
You’re a homemaker….should you still buy a term life insurance plan on your life? It is popularly believed that a homemaker, should not have a term life insurance plan in her name. She doesn’t work after all….This means no income. Why should a term life insurance plan be taken in her name? For those who don’t know, the popular term housewife is now homemaker.
You’re not a working Mom….so what? You’re still irreplaceable to your family. Your spouse will gladly buy a term life insurance plan on your life. If something were to happen to you, the death benefit could be used to give your children, good education and a quality life. However there’s a small catch. Very few life insurers are willing to insure homemakers. Life insurers say homemakers don’t have any income. They don’t need to be insured. However if your spouse is buying term life insurance on your life…it’s great. It shows he loves and respects you.
If you are not there for your family, make sure you leave a safety net behind. What better way to leave a safety net, than buying term life insurance on your life? You are there for your family, not only in life…but also after it.
Mr C.S.Sudheer is a management graduate. He started his career with ICICI Prudential Life Insurance and later on worked with Howden India. After his brief stint in Howden India, he moved on and incorporated Suvision Holdings Pvt Ltd which is the sole promoter of IndianMoney.com. He aims to build a nation that is financially literate with investment savvy citizens.
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