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Your Family Needs You, You Need Insurance

Your Family Needs You, You Need Insurance
June 08, 2023

Shikha did not expect the phone call - the unfortunate news that her husband, Rajiv, had met with a sudden car accident and had succumbed to his injuries, leaving her a widow. How was Shikha to manage life all alone from this moment onwards, not just emotionally, but also financially? Her children’s school fees, the pending EMI, next month’s house rent, the utility bills, the car servicing cost… so many expenses to bear, but the main breadwinner of the family was no more.

Did you know that like Rajiv, a whopping 97% of Indians do not have insurance at all1.Of the mere 3% that hold insurance to their name, 83% still fall under an insurance protection gap2. This means that their insurance coverage amounts are extremely low with respect to their annual incomes, and hence, not very effective in covering for them in case of emergency.

It is recommended that you never delay buying insurance. Think of it as an investment and not a burdensome expense. The best practice to implement is to make purchasing insurance a prioritised task in your bucket list soon after marriage. Look at these 5 important reasons why:

  • Financial Safety Net
  • When the sole earner of the family suddenly meets with an unfortunate passing, it becomes very difficult for the family to cope with 2 things mainly: Emotional weightage of losing a loved one, and financial suffering due to sudden discontinuation of income.

    In such a case, the death benefit amount or sum assured by the insurance plan for which the person has been paying premiums over time can come to the bereft family’s rescue.

  • The Earlier You Buy, The Lesser You Pay
  • When you purchase insurance early on in life, you can avail of insurance products at a much lower price. The explanation is simple: At an early age, you are less likely to meet with fatal medical issues like heart attacks or brain strokes. With a stable income, you can comfortably secure your family’s future by purchasing insurance early.

  • Retirement Assistance
  • By investing in insurance in your late 20s or early 30s itself, you leverage the factor of time in planning for your retirement. You can save for your retirement without having to worry about emergency situations that require high financial support.

    You can even treat it as a pension plan where you put in money during your earning years and regain a steady income post-retirement.

  • Debt Management
  • With no income, naturally, your spouse will have to seek employment urgently to sustain the household! When you provide coverage through insurance, your family remains protected since they will have to repay all your debt through regular EMIs, but without regular income. Hence, insurance means that their financial spirit will not be broken even during tough times.

    Had Shikha and Rajiv taken the HDFC Life Click 2 Protect Super life insurance plan well in advance, Shikha would have been in a financially secure position. Don’t delay taking insurance for the safety of you and your family. Plan ahead, plan smart.

    Watch Shikha’s story now and know why you should insure yourself without any delay! 


1. https://www.india.com/business/only-3-out-of-100-people-in-india-have-life-insurance-policy-economic-survey-5215331/

2. https://www.financialexpress.com/money/insurance/irdai-member-says-number-of-life-insurance-firms-stagnant/2945346/

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ARN: ED/05/23/1919

HDFC Life Click 2 Protect Super (UIN No.: 101N145V01) is a Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. Life Insurance Coverage is available in this product.