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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.)

Indecision Kills Personal Branding

Updated: Jan 20, 2025

Indecision Kills

In a world that celebrates clarity and confidence, hesitancy is a silent yet powerful force that can diminish your personal brand. When people dwell in the realms of “I’m not sure” or “maybe,” they unknowingly project uncertainty and unreliability—traits that can undermine the foundation of a strong personal brand. Your ability to make decisions and stand firm on them is not just a reflection of your leadership but also a testament to your personal brand’s strength.


Every interaction we have leaves an impression. Be it a professional email, a networking event, or a casual conversation, these moments contribute to how others perceive us. When you continuously oscillate between indecision and vague responses, it sends a message that you lack confidence or direction. In business, where trust and reliability are paramount, this can become a significant roadblock.


Imagine a scenario where a client approaches two service providers with the same inquiry. The first one confidently outlines a plan, clearly stating the next steps, while the second hesitates, replying with, “I’m not sure; let me think about it.” Even if both have the same expertise, the client is more likely to gravitate toward the first provider. Confidence fosters trust, and trust is the bedrock of all successful relationships—professional or personal.


Indecision can often stem from the fear of making mistakes or being judged. While this is natural, it’s important to remember that perfection is an illusion. The act of making a decision, even if it turns out to be less than ideal, demonstrates courage, responsibility, and accountability. These are the traits that elevate a personal brand, distinguishing you in a crowded and competitive world.


Being decisive doesn’t mean being impulsive or reckless. It means gathering information, weighing options, and then committing to a choice with confidence. In personal branding, this is particularly crucial because every decision you make—how you respond to challenges, present yourself, or communicate with others—forms part of the narrative others associate with you.


Hesitation and indecision don’t only affect how others perceive you; they also impact how you view yourself. Constantly second-guessing yourself leads to self-doubt, which becomes a self-fulfilling prophecy. The more uncertain you are, the more others will mirror that uncertainty, creating a cycle that can be hard to break.


One way to counter this is by setting clear priorities and aligning your decisions with them. For instance, if your personal brand is centred around being a thought leader in your industry, your choices should reflect expertise and foresight. Even in moments of ambiguity, acknowledging the uncertainty while showing a proactive approach—such as saying, “I’ll find out and get back to you”—conveys both honesty and determination.


During my recent trip to Australia, I was reminded of how decisiveness shapes impressions. Whether interacting with global clients or navigating unfamiliar professional terrains, I realized that certainty in communication was key to building trust and rapport. This was particularly evident when representing my personal brand on international platforms. A clear, confident tone opened doors and strengthened relationships that would have otherwise remained distant.


The next time you find yourself leaning on phrases like “I’m not sure” or “maybe,” pause and ask yourself: Is this hesitation necessary? Sometimes, it’s about silencing the inner critic and choosing to act decisively. Even if the outcome isn’t perfect, the act of making a choice positions you as someone who is reliable, proactive, and worth trusting.


Your personal brand isn’t defined by the absence of mistakes but by how you handle them and move forward. Decisiveness isn’t just about making choices—it’s about owning them. And in a world that often feels uncertain, those who lead with clarity and conviction stand out.


Make your decisions a reflection of your confidence, and watch as your personal brand strengthens, opening doors you never imagined.

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(The author is a personal branding expert. She has clients from 14+countries. Views personal.)

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