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Latest articles on Life Insurance, Non-life Insurance, Mutual Funds, Bonds, Small Saving Schemes and Personal Finance to help you make well-informed money decisions.

Life Insurance - Are you the only earning member of your family? Insure yourself right now.

07 Jun 2003

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Being the sole breadwinner of his family, Ashok Verma was shouldering a huge financial responsibility. He worked for a multinational company but with several dependents - retired parents, younger sisters still studying he was constantly under stress and tremendous pressure to fulfill all their dreams. But nevertheless the Verma family lived a comfortable lifestyle.

His younger sisters received the best of education. And family get-togethers, going shopping, weekend getaways, eating out in the choicest of restaurants once in a while with family were pleasures that took the heat off Ashok's daily work routine. Additionally he also managed to save a decent amount every month. The going was smooth until one unfortunate day when he met with a severe accident that left him crippled. Ashok was totally shattered. All his dreams came crumbling down like a pack of cards.

Hospitalisation expenses began to mount leaving him poorer by thousands of rupees. Savings were drying up and the family had no other resource to turn to other than a few close friends and relatives. But for how long. And insurance was something neither Ashok nor his family had ever given a thought to. As a result, by the time Ashok was discharged, the family was neck deep in debt.

Had Ashok bought insurance his hospitalization expenses would have been easily taken care of. Besides his family would have been able to continue with their usual comforts even after. And being the sole earning member of the family it becomes even more important that he insures himself since his family depends on him for financial support.

Source: DWT BACK

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