top of page

By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Everything About Term Life Insurance

“Jo bachchon se kare pyaar, woh term insurance ko kaise kare inkaar!” If you love your family, term life insurance is indispensable. Financially securing your loved ones in the event of an untimely death is crucial, and term insurance offers this protection at an affordable cost. Protection, Not Investment Term insurance is the simplest form of life insurance. You pay a relatively small premium and receive a large life cover for a fixed period. Unlike endowment plans or unit-linked insurance...

Everything About Term Life Insurance

“Jo bachchon se kare pyaar, woh term insurance ko kaise kare inkaar!” If you love your family, term life insurance is indispensable. Financially securing your loved ones in the event of an untimely death is crucial, and term insurance offers this protection at an affordable cost. Protection, Not Investment Term insurance is the simplest form of life insurance. You pay a relatively small premium and receive a large life cover for a fixed period. Unlike endowment plans or unit-linked insurance plans, it does not combine insurance with investment. This separation is important. Insurance should protect your family, while investments should help you create wealth. Traditional insurance-cum-investment plans often provide modest returns that may struggle to beat inflation over long periods. For many people, buying adequate term insurance and investing separately through suitable mutual funds or other investments can be a more efficient approach. For instance, a healthy person in their thirties may be able to purchase a term cover of Rs 1 crore for approximately Rs 15,000 to Rs 20,000 annually, depending on age, health, policy tenure and other factors. Insurance Needed You should strongly consider term insurance if your spouse, children or parents are financially dependent on you. It is also essential if you have liabilities such as a home loan, car loan or personal loan. Even a non-working spouse may require life insurance because replacing the economic value of household responsibilities, childcare and family management can be expensive. To summarise, if you have loans or plan to take loans, have children or plan to have children, or have a financially dependent spouse or parents, term life insurance is an absolute must. Enough Cover A figure such as Rs 1 crore may sound large, but it may not necessarily be sufficient. The right amount should be calculated based on your family’s actual financial needs. First, estimate household expenses. If your family spends Rs 10 lakh annually and you want to provide for the next 15 years, you may require at least Rs 1.5 crore for basic living expenses. Second, add all outstanding loans. A home loan of Rs 35 lakh and a personal loan of Rs 5 lakh would increase the total requirement to Rs 1.9 crore. Third, include future financial goals. If your children’s higher education is expected to cost Rs 50 lakh, the required cover rises to Rs 2.4 crore. Fourth, provide an additional amount for your dependent parents or spouse. Adding Rs 20 lakh would take the total requirement to approximately Rs 2.6 crore. Finally, adjust the calculation for inflation. Inflation gradually erodes the value of money. To ensure that your family has enough to meet rising expenses, it is wise to add an appropriate inflation adjustment to each of the above steps, as necessary. Do Not Delay Term insurance is generally cheaper when purchased at a younger age and while you are in good health. Disclose all medical conditions, lifestyle habits and existing policies honestly, as incorrect or incomplete information can create difficulties during claim settlement. Life is uncertain, but your family’s financial security need not be. The purpose of term insurance is simple: even in your absence, your responsibilities should continue to be fulfilled. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Maldives – Where the Ocean Teaches the Heart to Breathe

The ocean gives peace… if the heart is calm.

There are places we visit for sightseeing, and then there are places that quietly transform us from within. The Maldives is one such destination—a paradise where turquoise waters meet endless skies, where the rhythm of waves replaces the noise of busy life, and where every sunset reminds us to slow down and simply live. From the moment you arrive, the air feels lighter, the ocean calmer, and the heart begins to breathe in a rhythm it had long forgotten.


Located in the vast Indian Ocean, southwest of India and Sri Lanka, the Maldives is made up of nearly 1,200 coral islands spread across 26 natural atolls. From above, these islands look like scattered pearls on a blue canvas, surrounded by lagoons shimmering in the sunlight. One of the world’s lowest-lying countries, built almost entirely on coral reefs and sandbanks, the Maldives holds global significance in conversations on climate change and rising sea levels.


Historically, the Maldives has long been connected to the world through trade and culture. Ancient traders from Arabia, South Asia, and Africa passed through these islands, bringing traditions, languages, and beliefs that gradually blended into Maldivian life. Islam became the official religion in the 12th century and continues to shape the lifestyle, architecture, festivals, and daily practices of the people. Today, the Maldives is a peaceful, tourism-driven nation that balances tradition with modern hospitality.


Nature is the true soul of the Maldives. Clear lagoons, vibrant coral reefs, and rich marine life form the backbone of its natural wealth and economy. Fishing and tourism remain the nation’s two main pillars, while protected marine ecosystems add to its beauty and sustainability. Beneath the ocean lies a magical world of manta rays, sea turtles, reef sharks, colourful corals, and playful dolphins. Snorkelling or diving here feels like entering another universe, where nature becomes the greatest artist.


Travelling to the Maldives is convenient, with many international airlines offering direct connections to Velana International Airport in Malé. The best time to visit is between November and April, when the weather is sunny, dry, and ideal for island hopping, snorkelling, and beach relaxation. Even during the monsoon season from May to October, the Maldives remains beautiful, offering fewer crowds and attractive travel deals.


The Maldives offers a perfect blend of cultural charm and scenic beauty across its islands. The capital, Malé, reveals local markets, mosques, and traditional island life. Maafushi is popular for budget-friendly stays and local experiences, while Baa Atoll is known for marine biodiversity and crystal-clear waters. Vaadhoo Island enchants visitors with its glowing bioluminescent beaches that sparkle like stars at night.


Food in the Maldives is simple, fresh, and deeply connected to the sea and tropical landscape. Traditional dishes like mas huni, tuna curry, garudhiya, and coconut-based meals reflect the island lifestyle and cultural influences. Local markets also offer handicrafts, wooden carvings, shell jewellery, and handmade artefacts that reflect Maldivian traditions and craftsmanship.


One of the most touching memories of my Maldives journey came during a quiet evening by the beach. An elderly fisherman, sitting beside his small wooden boat, offered me a fresh coconut and softly said, “Ocean gives peace… if the heart is calm.” That simple moment touched me deeply. It was not just about the sea but about human connection, humility, and gratitude. In that quiet exchange, I understood that the Maldives is not only a destination but also a lesson in simplicity and peace.


Travelling to the Maldives with a group made the experience even more meaningful for me. Managing group travel in such a serene and welcoming country allowed me to use my skills in handling people, coordinating activities, and ensuring everyone felt comfortable throughout the journey. From organising island visits and water sports to managing schedules and hotel check-ins, I experienced the true joy of leadership and teamwork. The peaceful environment and the warmth of its people made group coordination smooth and enjoyable.


This journey taught me that travel is not only about visiting beautiful places but also about understanding people, building trust, and creating shared memories. Watching my group laugh together, enjoy the calm beaches, and experience the beauty of the ocean filled me with deep satisfaction.


For me, the Maldives is more than a destination—it is an emotion that stays quietly in the heart. It is the gentle sound of waves at night, the warmth of strangers’ smiles, the silence of golden sunsets, and the joy of shared travel moments. Even after leaving, a part of my heart remains there—somewhere between the quiet lagoons, glowing sunsets, and endless blue ocean—reminding me that true peace is often found in the simplest of places.


(The writer is a tourism professional and runs a company, Global Voyages. She could be contacted at goglobalvoyages@gmail.com. Views personal.)


Comments

bottom of page