1) Our Savings:
Consider the year 2020—the COVID-19 lockdown. It was our savings that helped us meet our daily needs and support our families during that uncertain period.
2) Our Investments:
Investments are crucial because money generates more money. Regular monthly investments can benefit from compounding interest, and over the years, they provide returns that help us achieve our dreams.
But What About Protecting Ourselves, Our Families, Savings & Investments?
Savings and investments are only possible if our source of income remains active—meaning we are able to work.
Why do we work?
To fulfill the responsibilities we carry on our shoulders and to fulfill our family’s needs. But what if something unexpected happens—an accident, an illness, or even worse?
Would we still be able to save and invest? If a medical emergency arises, paying for medical expenses could break down our savings and investments.
How to Stay Safe & Protect Ourselves?
Let’s break it down:
- Health Insurance (Mediclaim): Ensures that medical expenses do not deplete our savings and provides financial relief during medical emergencies.
- Personal Accident Insurance: Protects against loss of income in case of an accident, ensuring financial stability even when we are unable to work.
- Life / Term Insurance: Covers our responsibilities and secures our family’s future. As LIC of India says, “Zindagi ke Saath bhi, Zindagi ke Baad bhi.”
Final Thought:
We work hard to generate an income that fulfills our family’s needs. But if we lose our ability to earn, who will take on these responsibilities?
At the end of the day, we work for our family. Our family is our priority.
So, protect yourself, your family, and your savings by securing the right insurance. It is always better to have an insurance policy in place rather than borrowing money from relatives and facing unnecessary embarrassment & insults later.