The biggest problem faced in our country is the passive approach followed in managing our finances and our insurance policies. Most of us expect our finances to manage themselves. This results in a disaster. Can one start a car and expect it to reach the destination itself? No definitely Not? A steering wheel is used for a course correction especially when one is moving along a wrong track. At this time one remembers the famous saying "You Can Never Cross The Ocean Unless You Have The Courage To Lose Sight Of The Shore".

Have you ever wondered why a soldier wears a bullet proof vest when he goes to battle no matter how good he is? What about the What If?  Term insurance plans in India deals with the "What If" one dies young and does not have sufficient wealth left behind for his family. In this hyper inflationary age who would take care of one’s family if one were not around? Does one know how much he should insure himself for? Why Is A term insurance plans in India So Essential? Life Is What Happens To You When You Are Busy Making Other Plans.

Life Is A Glorious Game Of Uncertainties

The tragic floods of Uttarakhand remind one of the vagaries of life. Imagine not only the loss of life but also the financial loss suffered by all those who lost their prime breadwinners in these floods. Next in line to suffer serious damage were those who were careless in insuring themselves sufficiently. Their term insured amounts would soon come to an end. "Never Leave A Job Half Done" Another commonly followed practice is the art of purchasing a policy and not doing enough about it. Course correction is very essential in that term insurance plans in India. What about a change in salary or an increase or decrease in assets or liabilities .

Another problem faced among the individuals taking up a term insurance plans in India is the art of over insuring oneself. Why pay a huge premium for a policy of a sum assured of a Crore when one does not need it. always advocates prudence in all financial aspects. A thorough knowledge of financial products based on a strong platform to deliver this financial knowledge across the nation is lacking in our aims to bridge this gap by providing free on call financial advice across the nation. Another problem faced not only in term insurance but all forms of insurance is the " Haste Makes Waste " approach .Never come to the conclusion that a term policy is futile listening to your insurance agents. Always do the ground work yourself. Only once you are convinced that this term policy provides no utility value to you must you surrender this policy. Another important point one needs to note is that continuous switching of one’s term insurance policy might lead to a policy which one might not want.

This policy of continuous change results in a state opposite to Charles Darwin’s theory of evolution. Frequent chopping and changing confuses the issue giving one a term policy which one might not want. A major problem faced in India with regard to life insurance is a get more for less approach. One views term insurance as a loss on investment as if one survives the term policy the returns are nil. People consider life insurance in India as an investment .The idea that if they survive the term policy and get no returns for this irks them.