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"Why talk about death? Such a haunting subject! It sends a shiver up and down my spine”.

Your hesitation is completely understandable. Almost all of us are thanatophobic -- we are uncomfortable every time the subject of death comes up and we try shooing it away. But let’s face it, we are no immortals and death and its repercussions are something that we need to talk about seriously.

“Okay, talking about death may be important, but right now don’t you think I’m too young and healthy to talk about it?”

We all wish we lived in a world where people died only when they were nice and old, but that’s not the case. We wish death had the courtesy to knock on the door before arriving, but that’s not the case either. And let’s not ignore the fact that even the greatest of people have given in before their time. Not just that, many have died young and healthy due to accidents and mishaps.

But all of us eventually die, so why suffer extra by talking about it”?

Because if we do not talk about it, how will we know its repercussions? And how will we plan for it?

“What repercussions”?

A series of repercussions! Emotional and financial loss, for example. When you die, your ceasing to exist is not the end of the chapter. Death creates a major impact on the lives of your loved ones. Emotional loss can never be filled, but the financial loss can.

“Yes, my family is financially dependent on me, but what can I do about it?”

Look for financial instruments that can replace your income in case of your untimely demise. We would suggest Term Insurance plans. They give considerably high returns (close to 1 crore) for premiums as low as 4k - 5k annually.

“But why would I need such high coverage?”

You may have outstanding loans to pay and children to be educated at good schools and universities. If you have an adequate plan, these things will be taken care of. But if you’re not prepared for all this yet, then sorry to say, my friend, you cannot afford to die.

After reading up to this point, we are sure you realize that you have two options: Either don’t die until you are old and all your loans/debts are paid off or prepare yourself for unfortunate events.

“How can I decide when to die? It’s beyond my control.”

Exactly! You cannot control your death, but you can control the repercussions it may cause to your family. Preparing yourself with an adequate coverage amount will leave you at ease. It will be a financial protection to your family when they most need it. Otherwise, without your monthly salary, they will be forced to live a life of poverty and all the aspirations of your spouse and children will go down the drain.

Fair enough! Buying a term plan does sound like the right thing to do. If it is going to take care of my family in case anything happens to me, then it's definitely worth 4k - 5k a year. It's actually quite cheap. Death sounds less horrific now."

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