Term insurance project – Want to educate more people on Impact of being Under Insured !

POSTED BY Manish awasthi ON September 20, 2013 12:50 pm COMMENTS (3)

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



3 replies on this article “Term insurance project – Want to educate more people on Impact of being Under Insured !”

  1. ashalanshu says:

    Dear Manish, I’m already part of this Idea. 🙂

    Talking and more talking (discussing) only can remove this raodblock.



  2. Manish awasthi says:

    thanks dear Ashal..

    first thing a great news-I’m one wicket down or will say 1 wicket up. from last 2-3 months i was after my friends life to buy a insurance cover as he has home loan , non working wife and 6 year old as daughter as dependent and yesterday and Though he is earning fabulous salary but i had literally given up on him he always use to say will see but never took any action.One of his relative died ( age 41 years ) after that he spoke to me i believe i should buy some insurance cover as life is unpredictable. I’m happy atlaest he agreed that he needs a insurance cover.

    Ur idea of asking about Vehicle insurance is gud… Do you see any other roadblocks? as you have already have experience in educating people..

    Will u like to be part of this idea ?

  3. ashalanshu says:

    Dear Manish, first of all please accept my congratulations for this good idea. Regarding the basic mind set of people “RETURN KITNA MILEGA?”, we need to discuss the positives of term plans and the real need of insurance (not only term plans but health, accident, general….).

    My normal punch lines to start the discussion is –

    Do you have a vehicle? Do you have insurance of the same? How much money back or return you are getting from your vehicle policy. Most of the time, the idea clicks with the person sitting omn the other side of the table. 🙂



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