That day, though, he looked unusually thoughtful. He sat down, leaned forward, and asked me, Arif bhai, people keep telling me about term insurance. But honestly, I don’t get it. I’m healthy, I don’t smoke, I exercise regularly. Why should I pay money every year for something I may never even use?
I’ve been a financial consultant for over two decades, and I can tell you this is the most common doubt people have. The idea of paying premiums for something intangible, something they hope they’ll never claim, feels strange to most. And yet, the truth is, term insurance is the most powerful and selfless financial product out there.
I didn’t answer him right away. Instead, I told him a story.
A House Without a Wall
Imagine your life as a beautiful house, I began. “You’ve built it brick by brick your education, your career, your savings. Inside that house, your family feels safe, secure, and cared for. The roof over their head? That’s your income. It protects them from rain, sun, and storm. Now imagine this one day, one wall suddenly disappears. Not cracks, not damage the whole wall just gone. What happens?
Praveen frowned. The roof will shake… it may even collapse.
I nodded. Exactly. That missing wall is you. If you’re not there tomorrow, your family loses the biggest support of their life your income. How will they pay the EMI? How will your kids continue their studies? How will your wife manage household expenses? That fear, that uncertainty, is what families face every day when the earning member is no longer around. And term insurance well, that’s the invisible wall that makes sure the roof never collapses, even if you’re gone.
He went silent.
Why People Avoid Thinking About It
Here’s the thing. Nobody likes thinking about death. Especially in India, we almost treat it as a bad omen. People say, Arre yaar, don’t talk about such things. We’ll live long. And yes, God willing, most of us will live long. But accidents don’t ask for permission. Illnesses don’t check calendars. Life is uncertain and pretending otherwise doesn’t make it safer.
I told Praveen, I know it feels uncomfortable to think about such situations. But if you truly love your family, you have to look beyond comfort. Because term insurance isn’t about you it’s about them.
The Simplicity of Term Insurance
Praveen leaned back and asked, So, what exactly is term insurance? How is it different from other life insurance policies?
I explained it simply:
Term insurance is the purest form of life insurance. You pay a small premium much smaller than any traditional policy and in return, your family gets a large cover amount if something happens to you during the policy term. No investment, no maturity benefit just pure financial protection. That’s why it’s so affordable. You’re not buying an investment here; you’re buying peace of mind.
His eyebrows went up. Affordable? How affordable?
I gave him an example. A 35-year-old healthy non-smoker can get a cover of ₹1 crore for less than ₹1,250 a month. That’s less than what you spend on a weekend dinner with your family. For the cost of a pizza, you can secure your family’s entire future.
He chuckled. When you put it like that, it sounds almost too good to be true.
But that’s the beauty of it. Simple, powerful, effective.
The Emotional Side No One Talks About
Most financial advisors focus on numbers cover amount, premiums, tax benefits. But here’s what I’ve learned after advising hundreds of families: term insurance isn’t just about money. It’s about emotions.
I shared this with Praveen. Imagine your kids growing up without you. Painful thought, right? Now, imagine your absence is not only emotional but also financial. Imagine your wife struggling to pay school fees, maybe even selling the house to manage expenses. That pain doubles. But if you had term insurance, your family could grieve without the added burden of financial struggle. They could continue life with dignity, without feeling lost.
I could see his eyes soften. For the first time, he wasn’t thinking of premiums or policies. He was thinking of his wife and kids. And that’s when the real value of term insurance hits people it’s not paperwork. It’s love turned into action.
Common Myths That Stop People
Praveen then asked, But Arif bhai, some of my friends say it’s a waste because you don’t get anything back if you survive the policy term. Isn’t that true?
I laughed. Yes, and that’s the most common myth. Let me ask you this do you complain about not claiming your car insurance? Do you feel cheated when your health insurance isn’t used? Of course not. You feel happy and relieved. Because these insurances are not meant to give you money back they’re meant to protect you from risk. Term insurance is the same. You should actually celebrate if you never need to use it. It means you lived a long, healthy life. Meanwhile, your family had a safety net throughout.
He nodded slowly. I never thought of it that way.
A Real-Life Story
I told him about a client of mine, Rajesh, who passed away in his early 40s due to a sudden heart attack. He had a wife and two teenage children. But here’s the difference he had taken term insurance just five years earlier. The day his wife received the claim amount, she told me, with tears in her eyes, “This money will never replace him. But because of his decision, I don’t have to worry about selling the house or stopping my children’s education. He took care of us even when he is not here.”
That’s the kind of legacy term insurance creates. It’s not about dying rich. It’s about living responsibly.
Making It Personal
By now, Praveen looked convinced but still hesitant. So, how much cover do I need? What if I choose too little or too much?
I explained, The thumb rule is 10–15 times your annual income. If you earn ₹10 lakhs per year, aim for ₹1 to ₹1.5 crores cover. This ensures your family can replace your income for years, pay off liabilities, and maintain their lifestyle. Of course, it varies from person to person, and that’s why I’m here to help you calculate the right amount.
He smiled, finally at ease. I guess it’s time I stopped overthinking and just did it.
Why I Believe in This
Over the years, I’ve seen too many families crumble financially after losing their breadwinner, simply because they never thought insurance was important. And I’ve also seen families stand tall, continue their children’s education, pay off loans, and live with dignity because one person decided to get term insurance.
As a financial consultant, I can confidently say: if you have dependents, this is the single most important step in financial planning. It’s not flashy. It won’t give you stories of high returns. But it will give your loved ones the security of knowing they’ll be okay, no matter what.
Praveen’s Realization
A week later, Praveen came back. He had thought deeply, discussed with his wife, and decided to go ahead. When the policy was issued, he said something that stayed with me:
I used to think insurance was a burden. Now, I see it as the greatest gift I can give my family. Even if I’m not here tomorrow, I’ll still be taking care of them.
And that, my friends, is why I always say: term insurance isn’t about you. It’s about the people you love.
The Final Word
So here’s what this really means: if you’re the earning member of your family, term insurance is non-negotiable. It’s not about whether you’ll live long or not. It’s about whether your family will live secure, with dignity and stability, even if life takes an unexpected turn.
Don’t overcomplicate it. Don’t delay it. The earlier you buy, the cheaper it is. Start today, because your family’s tomorrow depends on it.
If this story made you think about your own financial protection, leave a comment below. You can also connect with me directly on WhatsApp or book a free appointment by clicking on the link. No sales, no pressure, just pure advice.
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