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Casting your safety net in life

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Casting your safety net in life
February 19, 2025

Table of Content

 

The investment risk of ULIP is borne by the policyholder.

Trapeze artists always ensure that they are cared for while performing an act. This safety is in the form of a net, which is generally close to the floor. The purpose is simple. If anyone falls, the net should be able to catch them. 

Every stage of life demands a different kind of safety net. Some are emotional, some are physical, and some are financial.

For instance, a child trusts their parents to catch them if they stumble. A student depends on their teachers for guidance. A working professional counts on their salary to cover expenses. But what happens when the unexpected strikes? A sudden illness, an accident, or worse—a life cut short. Who holds the safety net then?

This is where financial security steps in.

Health is unpredictable, a safety net is not

An visit to a hospital is not something one expects. And a diagnosis of a critical illness can certainly derail your life plans. Everyone is well aware that medical costs in India have soared. There are reports that have stated that medical costs may surge by 13.2% in 2025+. 

On average, an ICU admittance in a private hospital would cost between Rs 15000 to Rs 30000/-*

Will your liquid savings be enough to help you overcome the illness, financially? In many scenarios, it may not be. This is when a safety net in the form of a critical illness rider* and your term insurance can protect you.  

A critical illness rider on your term plan ensures you get a lump sum payout immediately after you are diagnosed with a major disease. This money helps cover medical bills, loss of income, and other expenses while you focus on recovery.

It’s not just about treatment costs. It’s about not draining your savings, about ensuring your family doesn’t struggle while you fight to get better.

The safety net that stays

No one likes to think about the worst-case scenarios. However, it can happen to anyone. Who would hold a family together if the sole breadwinner is no longer there?  Gripping with loss isn’t easy. And while you are dealing with grief, you do not need to think about your immediate financial goals. 

Your safety net, a term insurance plan, will take care of you. The payouts received from the term plan ensures that the family receives a lump sum amount that would helpthem continue their lives without financial strain. Rent or home loan EMIs are still paid. School fees don’t stop. Daily expenses don’t become a worry.

A term insurance plan can be an ultimate safety net for your family. It ensures they are financially protected, no matter what.

Life goals deserve a safety net too

Are safety nets only for people? Think of it this way. You always have more than one person or confidant who will always have your back, no matter what? But what about life goals? Your life goals also need to be protected from the unknown. What kind of safety net can you cast here?

That’s where a ULIP steps in. It offers life cover while helping your wealth grow over time. It’s like having a parachute while climbing a mountain. At first, it might seem unnecessary—you are focused on reaching the peak, step by step. But seasoned climbers know that preparation is key. They carry ropes, harnesses, and backup gear—not because they expect to fall, but because they know that if something goes wrong, they have a way to protect themselves.

A ULIP works the same way. For instance, your income would be used to meet existing and future goals. But what would you do once you retire? ULIPs can be the safety net that you need for your retirement. But how? The money you invest in ULIP can help create wealth and provide a sustainable income during those retired years. This income can be received monthly, or you may also have a choice of quarterly or yearly payments. 

Your protection isn’t compromised and with the income the market-linked investments generate, you can live as per your terms.

Plan safety nets before you need them

No rule states that you need only one safety net in your life. The wider the net, the better the protection. The right safety nets will give you peace of mind. It will let you live freely, knowing that you and your loved ones won’t be left vulnerable even if life takes an unexpected turn. However, the idea is to start casting early. 

Trapeze artists know they need to be careful with every act they do. One slip, and the act is disrupted. However, they know that even if they slip, there is a net to catch them.  Choose investments you know you will need to fulfil the important milestones at the right time. One slip in life does not mean the act has to end. It would mean that you and your family will always have financial backing,regardless of circumstances.

Source

+ https://medicalbuyer.co.in/medical-costs-in-india-likely-to-surge-by-13-2-in-2025/

*https://www.hdfcergo.com/blogs/health-insurance/icu-charges-in-india

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ARN: ED/01/25/20846

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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*For all details on Riders, kindly refer to the Rider Brochures available on our website

Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year. 

Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.

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