2020 is surely a year, which nobody would forget and mankind would remember. Surely, an eventuality does not come knocking and this year is the best example for it. When the world is still fighting against the COVID-19 the recent Cyclone Amphan has surely wreaked the entire nation.
West Bengal and Odisha are the living examples of the aftermath after this cyclone, which has caused the loss of life and belongings. When one was saved from the novel coronavirus somehow the cyclone took the charge of it.
Well, for sure uncertainties can happen anywhere and any point in time and does not come with prior notice.
Take out a minute and think about it. What if something like this happens tomorrow or maybe after 5 minutes or just while you are reading it.
This mere thought would scare you.
In the world of actualities, the biggest truth is death. Death is something, which is not in our control. However, there are things, which is in our control.
Yes, the gear is in your hands and you can control it. When it comes to financial planning, most of us have a myopic vision.
Most of the times we plan for a future wherein we have a residential apartment, a four-wheeler, international trips, and much more. We wish to acquire these things with the savings that we do.
In making and fulfilling these desires and dreams we often tend to ask ourselves one question that is,
Just suppose, a natural calamity like this occurs and you are no more to take care of the family. Forget about a car or an expensive gadget is there enough for your family that they would be able to meet the daily expenses or maintain the same lifestyle they used to lead in your presence.
This is the Myopia that is to be thought about.
Well, you would have invested in fixed deposits, mutual funds, gold but have you invested for contingencies?
Have you invested in something, which would be handy on such rainy days?
Becoming vigilant after the cyclone knocks will not help you. Remember, prevention is better than cure. Financial planning is important but emergency planning is even more important.
Knowledge is of no use if you are acting ignorant about the same.
Loss of life is not only emotionally irreplaceable but even financially.
However, the finance part can be taken care of. Invest in the right type of life insurance policy and it will provide your family with compensation in case of your untimely demise.
In case of a natural calamity, and you pass away, this life insurance policy will be the emergency fund to your family.
Life insurance policy is an agreement between the policyholder and the insurance company wherein the provider assures to pay the pre-defined benefit to the policyholder against the event for, which life insurance policy has been taken. The insured needs to pay a certain premium amount timely and buy the life insurance policy.
The ‘if’ in life portrays the uncertainties that can happen in our lives. None of us thought that we would not witness a pandemic nor we were prepared for this cyclone Amphan. Also, we do not know the future. Something like this can easily happen again.
In case if you do not have a life insurance policy, you still have the chance of buying the life insurance policy and secure your family financially. Remember, there is no coming back from death.
When the bread-winner of the family passes away prematurely, it is indeed distressing for the family emotionally, mentally and financially. Therefore, do not wait for tomorrow.
Buy the right type of life insurance policy and this will be your best investment of 2020.
2020 has been a tale of two disasters, while the entire nation is still coping up with the novel coronavirus (COVID-19) and now states like Kolkata and West Bengal have already witness cyclone Amphan.
Cyclone Amphan has surely left many people homeless in West Bengal affecting many other states as well.
Moreover, the Insurance Regulatory and Development Authority of India (IRDA) has asked the various life insurance companies to handle the claims expeditiously and take immediate action in light of the Amphan cyclone, which has caused the loss of lives in different of Odisha and West Bengal.
This havoc has also caused damage to the power and telecom infrastructure of different coastal districts too.
As per the circular by IRDA dated 22 May 2020, in case of any loss of live or loss of belongings caused due to the cyclone in states of primarily Odisha and West Bengal, there needs to be quick claim settlement for every life insurance policy claims.
Listed below are the guidelines and the actions that need to be taken immediately in all the states that have been affected by the cyclone:
Do not wait for another Amphan or Nisgara to knock you and teach a lesson.
Let not the financial crisis reach your family. Buy the best life insurance policy and secure against the monetary repercussions of any calamity.
You are lucky if the cyclone Amphan did not reach you or touch your state. You cannot stop a natural calamity but the maximum you can do is to prepare yourself in terms of adequate finances to deal with the equivalent.
Optimism is good but taking chances is not welcomed at this point.
The fury of nature is uncertain and unforgiving. We are already witnessing.