OneInsure Blog

Term Insurance

The New Year is almost upon us! 2020 is sure to be full of potential and purpose for you and your family! We are sure you have great plans for the New Year as well as for your life, in general.

While planning ahead is a great thing to do, none of us truly know what life holds in store for us. And while we may treat life like a test match, what if it turns out to be a 20:20 match instead? Are you ready for a 20:20?

Let’s see a real-life example of what we mean.

In Oct 2018, a OneInsure Relationship Manager met with an existing customer (whom we shall call Mr. Kumar) to discuss a term life plan. Since Mr. Kumar, who was only 36 at the time, was drawing an annual salary of close to INR 1 crore, had a young family, and was his parents’ only child, it was quite logical for us to propose that he opt for a term plan in order to provide a financial safety net for his family in case of his untimely demise.

At that first meeting in October, Mr. Kumar was very optimistic about a term plan and even his family agreed that a term plan of about INR 7 crores would be ideal. However, with the passage of time, he began making excuses to not go ahead and started thinking that a term plan was not necessary.

Mr. Kumar kept avoiding the term plan for several months and eventually informed OneInsure’s RM that he had already invested heavily in mutual funds and other products and he did not feel insurance was necessary.

Then, all of a sudden, in May 2019, Mr. Kumar passed away due to a massive heart attack. From external appearances, Mr. Kumar was fit and vices were not a problem for him. He could not be blamed for thinking his life was going to be long. By investing in mutual funds, he thought he was gathering wealth for a relaxed retirement. However, his mistake was that he did not even consider the possibility that his life could be cut short suddenly.

Life is truly uncertain, and today’s high-pressure working environment is like a ticking time bomb that can trigger fatal health issues and leave our families teetering on the brink of poverty. This is why insurance is important and there should be no delays in buying them, especially term insurance. If Mr. Kumar had bought a term plan without delays, his family would today have a constant income from the term insurance pay-outs, which would perfectly replace Mr. Kumar’s salary in his absence.

With Mr. Kumar gone, his young family will now have to live a life of financial dependency on relatives. Moreover, their standard of living will drop significantly because their family’s annual income has gone from INR 1 crore to INR 0.

A term plan is your family's financial safety net in case the worst happens to you earlier than expected.

Queries on term insurance?
Reach out to OneInsure at 86559-86559 or



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