Rather than a question, there is something which i want to do ? but confused how to go ahead with it so need some advise or guidance…
These days I’m seeing the impact of not buying term insurance or not having adequate term insurance in my relatives or friends families. Some cases are
1. One of my close relative died and later, I got to know that he had endowment policies and if I summed up the the insurance cover of all policies it is less then 12 lakhs. His non working wife and 2 teenage daughters was his dependents and he don’t have much assets.
2. Another friend(age 32 years) died. while talking with his wife realized that he was under-insured. My firend wife also have 3 year old child to take care off.
So two days back, I was talking to one of my friend who is also a jago investor reader that we should do something in this area , atleast make sure that all are relatives and friends have term insurance (not getting involved in selling part, people are free to choose from where they buy insurance) but letting them know the importance and impact of not buying adequate term insurance and requesting them to buy and checking if they have term insurance.
We discussed some road blocks too of enrolling people like people might say :-
1. I believe in creating assets. I will prefer putting money in business , buy gold, RD, endowment plans, equity might give us returns . term insurance does not guaranty me any returns.
2. If I don’t die during term of insurance i wont get money then why should i buy term insurance
or some other road blocks.
So need some guidance ,suggestions how to take this thing forward. If anyone would be interested to be part of it.
Admin of Jagoinvestor and other guests- I’m not a insurance agent and have no interest of selling insurance to make money. My idea of writing this post is to know how things can be taken forward . I believe there are around 3K forum users on jago investor and if everyone takes responsibility of enrolling 2 people in their relatives,friends then this idea could be success.
Need some people who can be part and take things forward
Manish