‘Subra we need to buy life insurance..I am willing to pay Rs. 30, 000 per month and so can my wife. How much life insurance can we get?’ ..asked my friend SS.

He speaks at a speed that it is difficult to understand what he says…by the time he ended saying this, I was breathless.

I started by asking

Me: Is any body dependent on you?

SS: No.

Me: Your parents..by any chance?

SS: Ocassionally I dip into his account, but no, both parents are financially well provided and pensioned well.

Me: Any kids, home loan, car loan…?

SS: No.

Me: Are u both capable of earning even if the other person is not around?
SS and wife: Yes.

Me: Why do u need life insurance?

SS: You tell me.

Me: Just chill do a SIP of 30k each…and treat it like a savings bank account after 4-5 years. When you have money keep doing the SIP, when you need the money, withdraw that is all.

Intellectual satisfaction, financial loss – nice round sum – think of 2004!

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  1. “Intellectual satisfaction, financial loss”
    🙂 well, your priorities are correct. I wish all financial advisers had similar priorities.

    Always enjoy your posts – informative and laced with humor.

  2. This is all the more reason why Insurance should be a consulting service (like lawyer/doctor – good ones) that is charged on hourly or project basis and commissions should be eliminated. Based on the advice received, person should be able to buy the relevant product from the insurance company directly without incurring commissions.

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