‘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?
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…?
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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