Do something special for your kids along with buying Insurance – Check out How ?

POSTED BY Nandish Desai ON June 11, 2015 COMMENTS (33)

A lot of you on Jagoinvestor must have bought term plan or other insurance plans, so that in your absence your dependents do not face any kind of financial crunch. It is good to buy life cover, but may be buying life cover is just half job done.

From last few days, I have been carrying a few thoughts in my mind which today, I would like to share with all of you. Whenever I look at the face of my little one, I feel I should do something special for him along with buying life cover for securing his future.

Going beyond life insurance

If something happens to me, my son will get enough financial support from the insurance money, but I will lose out on the opportunity to share my wisdom (my life learning’s) with him. There are a few things, which I would like my son to learn or know from me and my life experiences.

I feel that Life insurance policy is very strong support a parent can give their kids, but it lacks emotions, feelings and love in it. To add my feelings and emotions in it – I have started capturing a few of my experiences in a short journal which I call “Notes from Daddy”.

This little journal, once it gets complete will be kept next to original insurance policy document.

3 things which I captured in my “Notes from Daddy” Journal

1. List of Books that had deep impact on my life

Since my college days, I have been a voracious reader and there have been many life changing books that had deep impact on my life and it has major contribution on my overall learning and development process. I would like to share my reading list with my son when he grows up.

Now, it is possible that he may or may not choose to read books from my reading list but at least I would like to share or communicate my reading experiences and my book list with him. I have started building my reading list which I would like to share with my son. My “Notes from Daddy” journal has a section called “Hidden Treasure- Personal Reading list”.

2. List of Movies that inspired me

There have been many movies and short documentaries which changed my complete outlook towards life. I am sure you also must have encountered and seen such inspiring movies. I have a section called “Movies that will move YOU in my “Notes from daddy” journal. If you want you can also make list of inspiring movies which you want your son or daughter to watch in their growing years.

3. Teachers who changed my WORLD

It is said that – “when the student is ready, teacher appears”.

I have been fortunate to have right mentors and teachers at different junctions of my life. I am sure my son and your kids will also have many teachers in their life. Sharing from my life my teachers taught me some very important distinctions of life which helped me to look at the world with new pair of eyes.

I am sure you also must have had some “wow learning moments” while you were with your teacher.  Why not capture them at one place so that it gets communicated to your next generation in your absence.

Some final words

Our body is a place to observe the world from, it is a physical representation of you, be clear that your body is not you. Life is beautiful and at the same time highly unpredictable and uncertain. Having life cover is important but I feel it is still half job done. In my absence, I would not just like to pass on insurance amount to my son, I would also like to pass on my wisdom and selective life experiences to him as well.

If you already have life cover and would like to create your little “experience journal” you can start working on it. If you do not have adequate life cover leave your details here and we will guide with the buying process. In the comments section do share some more ideas that you can implement to do something special for kids along with buying insurance.

Lastly, we are all set to announce about our next workshop which will be held in Bangalore. It will be conducted in the month of July and the registrations will open soon.

This article is written by Nandish Desai

33 replies on this article “Do something special for your kids along with buying Insurance – Check out How ?”

  1. Mohammed says:

    Hi Manish,
    I agree with your views expressed in this article. I can truly relate my thinking with your views. This is exactly, what I have been thinking for the last few months. I started reading lots of books on financial planning, entrepreneurship, stock markets, and some other books. I can feel the immense contribution of these books on my life, and wanted my child to go through these sources of information. Thanks for the article, as it inspired me to do something more than just a mere TERM PLAN.
    By the way, it would be really helpful, if you can share your “Hidden Treasure- Personal Reading list”, with all of us.
    Look forward to learn from many such articles in future.

    1. Hi Mohammed

      Thanks for your sharing your valuable comment on this topic. Please keep sharing your views in future also


  2. Anuj says:

    A must read for all parents , great article. We need to plan for child’s education, marriage and other unforeseen events. Hence investment in insurance is a good option for long term needs. I am a Tata AIA Life policy holder and quite happy with their services. My advisor informed me about a new policy that they have launched, Tata AIA Life Insurance Fortune Guarantee. It offers Guaranteed Maturity Benefit that varies from 138% to 159% of Total Premiums Paid and Tax benefits u/s 80C & 10(10D) of the Income-Tax Act, 1961.

    1. Thanks for your comment Anuj

  3. Milind says:

    Hi Nandish and Manish,

    Absolutely gem of an advice. Great work as always, I affirm that you guys have started a revolution!

    – Milind Joglekar

    1. Glad to know that Milind ..

  4. MEERA says:

    Dear Nandish,

    Thanks for the post.
    It was a very touching post, quite a surprise to read it on a financial guidance portal like yours.
    I completely agree with you in passing our inner hidden treasure to the kids. In fact we can start watching some of those movies with them as they are growing up, we can share little funny and stories out of our experiences with our teachers, our mistakes, our fears, and other experiences. . It is indeed as important to leave our values, and learning with them as our money.
    Speaking about finance, I often wonder when we take these llife insurance policies, we ensure that they recieve a good amount of money in case of a misfortune and parent passing away. But what will the child do with that, even a mother/guardian needs to be prepared/educated in that direction. we must have a will, and make sure that it is clear and communicated that in case of a mishappening who shall be the guardian/recipient of the money. How shall that money serve for a secure future, that is one more important aspect that we must dwell upon.

    best wishes and regards

    1. Glad to know that MEERA ..

  5. Sharanya says:

    I like how you are not just concerned about money but have beyond and shared that with us 🙂 Thanks

    I am 24 working, unmarried. Is it too early to be taking a life cover

    1. If you are having anyone financially dependent on you, then you can go for it !

  6. KeyurPujara says:

    Nandish, Very fresh thoughts and really liked it. Also Shantanu makes a great point on offering enough time and friendship.

    Besides finance, wisdom/intellect, time one very important thing we can build for them is social network. A trusted network of friends, relatives, well-wishers etc helps in emotional growth of child. It also acts as safety net in time of crises. And continue to help in one’s presence, or one’s temporary or permanent absence.

    regards, Keyur

  7. David says:

    Great idea but 1 thing lacks in the daddy book is the real experience for the son/daughter. i too created this kind of journal but that didn’t serve the full purpose. suppose the dad passes away too soon,when the kid is very young or the dad lives to a ripe old age.from what ever i read the real learning for the kids starts fro the age10-19. this time we need to input/share lot of info by creating interest rather than by imposing things. Since my kid is only 2 years i started sharing whatever i know with my wife and write it suppose i pass away too soon,my wife can take it from there. if i am lucky to life long i need to give my kid good experience in father treated me like a kid till i was 22 and didnt share anything regarding business or anything.that was bad from kids point of want to be adults and want to have experience.studied most of big shots biographies and they have started their venture from a small age.this subject needs lot of thought on how to pass what u know especially your mistakes.

    1. Thanks for your comment David

    2. NeerajJain says:

      Our Bollywood also teaches a lot many things. KuchKuchHotaHai was such movie. Recalling it will know how we can write letters which would be presented to kid every year on his birthday. That was just awesome, since then i have started creating such letters. Its like passing on important things when it is most important.
      This could be practised even if you are alive.

      Neeraj Jain

      1. Thanks for your comment NeerajJain

  8. Suresh says:

    Good idea. I have a 16 yr old daughter & a 13 yr old son. From my exp, generally kids get influenced by so many factors & external stimuli. And ones life lessons may not sufficient to get ahead in future. So my emphasis has been to make them smart, tough, humble & independent. A really tall order but I guess Iam at about 70% mark, in my own assessment.

    1. Thanks for your comment Suresh

  9. Harshad says:

    A million dollar advice absolutely free and this is going to be most valuable gift to our child.

    Thnx for such a wonderful advice

    1. Thanks for your comment Harshad

  10. kshitiz says:


    I agree with Santanu, this is the most precious investment of a father that he can give to his kids.
    The Experience of his life which will enlighten his children in his absence. Really good thing to do.

    Thanks for sharing.

    1. Thanks for your comment kshitiz

  11. Gajanan says:

    Such a nice article. Reasoned yet emotionally appealing.

    1. Thanks for your comment Gajanan

  12. Manish says:

    How about you share your list online with all the kids… Let all who seek able to find it. Share your life wisdom with your kids as they grow. Let them gain so much from you, that it itself becomes the policy! I doubt money secures someone’s future beyond a certain point. Thanks for sharing such a great thought 🙂

    1. Thats a brilliant thought 🙂

  13. rajanikant says:

    My comment is more relevant for parents with grown up kids.
    They are no longer responsive to vocal advices,they are responsive to parents’ behaviour,as observed by them.
    So parents MUST develop good habits in field of personal finance & follow them religiously, that is the only way out.

    1. Very good point ! ..

  14. Ganesh says:

    Great article.

    As the old saying goes “give him fish , he will eat for one day , but “teach him how to fish it will give fish for his entire life.”

    This is something which every parent should try giving their children. Stop giving them instructions and move towards the path of nourishment and self sustainable.

    I also do this to my Daughter sometime and I felt that we should move away from instruction base to innovation base.


    1. Thanks for your comment Ganesh

  15. RAJESH says:

    If my kid gets what I got, then they will be what I am. Though I am proud of myself , is it not essential that we make them better than us?. Article is really good in terms of how to make them what we are. Next challenge will be how to make them the best!!. Thanks for your thoughts felt nice.

    1. Thanks for your comment RAJESH

  16. Santanu says:

    Hi Nandish,

    Thanks for sharing such an emotional aspect linked article after a long time.

    I think as a parent everyone is damn sure that, they are doing more than 100% for their kids. But only few parents actually realize or analyse whether they are really doing something which will help their kid in future.

    As you have mentioned about the financial aspect of this topic, I would like to share the other side as well. In which every parent should connect with their kids from very early days to understand their need, aspirations and expectation from the society as well as the parents.

    Many people think that, just by investing or saving crores of money they are securing their kids’ future. But what if the kid doesn’t want to pursue a typical career, his/her parent is aspiring?

    I think the most special gift one parent can give to their kid is by offering enough time and friendship. This will help them to understand the gap between 2 generations, help them to mature early which is a must, and off-course the value of money & investment.

    Keep up the good work. 🙂

    1. THanks for sharing your view Shantanu !

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