I am a family man with a wife and two kids.
But now that we have moved in, all that effort seems well worth it. Even our parents loved the house. And the kids can’t control their happiness now that they have their own room in a home that is close to their school.
Last Sunday I had just finished playing with my kids and was sitting waiting for my wife to come back from the cinema hall. I had just started thinking about getting my daughter married when all of a sudden, a loud bang followed by a thunderous crash caught my attention. The commotion had come from outside the house and I followed the noise to the balcony and looked outside. What I saw left me stunned and frozen. On the road outside the house, an overturned bike was lying on the road. The rider of the bike was badly injured and was sitting on the ground away from the bike, alive but in a disoriented daze.
I rushed out to help the person with some water. As I called an ambulance and made sure he was taken away safely, I couldn’t help but think the same thing over and over again, "What if that was me?"
I started to think of the unpredictability of life. This is a troubling reality in a country such as India, where 16 deaths due to . I wondered what would happen to my family- how would they go on without me?
And suddenly I realised that if something were to happen to me- this house, rather than being the great asset that it is right now, would become a huge liability. How would my wife repay the home loan all by herself on a single person’s salary?
The future suddenly looked quite bleak.
I was determined to correct this situation right then and there and empower my family to be able to repay the interest as well as the principal amount in case required.
That’s when I researched online and came to the solution.
In case anything happened to me, a they would need to live the life they wanted. With a small premium, I could equivalent to my home loan and some more to take care of their everyday and future expenses.
Life is unpredictable and it's important to think of every potential outcome when taking out a loan, especially the unpleasant ones.
I love my family and this is why I made sure that even if I am not around someday, they always have a wonderful life in this beautiful home.