An erroneous title, I’m aware.

But while tomorrow certainly is inevitable, Indians don’t seem to be planning for it in general. Insurance is best bought early, indeed, best bought NOW- allowing your funds to build with time and support you when you need it.


Content image_tomorrow never comes



But despite the importance of continuing insurance, worrying news made itself known when studies revealed that around 2/3rd of all insurance are abandoned at the 5 year mark.

And yes, while optimism about our future is higher than ever before, perhaps that’s one of the reasons for this statistic.

But there are other factors- changing fiscal situations, unexpected events, and a lack of information. While the first two factors can’t be helped much, the third absolutely can.


So, before you discontinue your insurance policy, make sure you first consider:


1. The obvious benefits of insurance:


Seeing out the policy period is guaranteed to net you results, depending on the type of plan you purchase. Even in cases where maintaining payments seem hard, your insurance company will be more than happy to discuss converting or surrendering your plan.

Get advice on how to best handle your payments, and let your plan keep you safe, and secure. Remember, even in the hardest of times, your insurance plan is sure to have your back!


2. The downside to renewing later:


So, you’d rather have liquid cash, and that insurance policy isn’t going to fund you for years yet. You make the decision to give up your plan- but that’s okay because you plan on getting insurance again when you are more comfortable.

This might seem logical at first- but there’s a downside to be considered. Yes, giving up your plan when you need funds is attractive- but only if you don’t consider the cons of getting insurance again.

Insurance premiums are calculated based on a number of factors- one of which is age. The older you are when you consider getting insurance again- the higher the premiums on your plan. Got a new, travelling job? Fly often? More risk, higher premiums!

While you should always consider adding to your plan as life’s certainties come to pass (child plans, etc), stick by your original plan and its rates. Your payouts are higher, and investments lower.

And finally,


3. Yes, optimism is good. Having no backup plan, isn’t:


Studies have shown Indians are more optimistic than ever before about their futures. This is good! It reflects a progressive culture increasingly built of a hardy youth- people to whom success isn’t the dream, it’s the requirement.

And as we drive onward and upward, we feel one of two things- unstoppable, or plagued with hurdles. Both are great times to get insurance, if you haven’t already.

Keep that optimism flying no matter what with a great policy to support you and beat the tough times with that same policy.

No matter what you’re going through, remember, sticking with that policy will take you where you need to go.

That’s a certainty of life!