Gift your Valentine financial security this Valentine’s Day

Valentine financial security

Valentine’s Day is just around the corner and most of you are busy thinking of gifting ideas for your loved ones. Flowers, chocolates, cards and gift hampers are very much in demand. What about you? What are you planning to gift your Valentine? How about financial security?

Everyone resorts to flowers and chocolates as the perfect gifts for their loved ones. You, on the other hand, can go one step forward and do something different by gifting financial security. Financial security lets your loved one enjoy life without worrying about money matters. It gives financial independence and proves to be the best gift. Do you know how you can gift financial security?

It’s quite simple actually. Financial security can be ensured through life and health insurance plans. Both these plans take care of the financial loss suffered in an unexpected contingency and provide financial assistance. Let’s understand how –


Life insurance and financial security

When it comes to life insurance, a term life insurance plan comes to the forefront. The plan insures against the risk of premature death. The premiums are low and you can opt for a considerable amount of sum assured to take care of your loved one’s financial needs in your absence. When you buy a term insurance plan with an optimal coverage level, your spouse is secured in the knowledge that if something untowardly were to happen to you, a lump sum financial corpus would be paid under the plan. Your spouse can then utilise the benefit received to take care of his/her financial needs and also plan for your family’s financial goals. So, through a term insurance plan on your own life, you can gift your spouse the promise of a financial safety net which would help save your spouse and your family from a financial dilemma if you, the breadwinner of the family, face an untimely death.


Health insurance and financial security

Health insurance plans pay for the medical expenses which are incurred in case of a medical emergency. Medical costs have become unaffordable and a medical contingency threatens to push you in a financial crisis. However, when you have a health insurance plan, you have a financial net to catch you when you fall. The plan takes care of your medical costs and proves to be a financial blessing. When you have health insurance even your loved ones know that medical contingencies would not land your family in trouble and they can have financial security. Moreover, when you invest in a family floater plan for your family, each family member is secured in the knowledge that they can receive the best treatments without worrying about affording the costs. So, a health insurance plan is also a very good gift for your loved ones.


Buying financial security through life and health insurance plans

Given the benefits of term life insurance and health insurance plans, here’s how you can buy financial security for your Valentine this Valentine’s Day –

  • Invest in a term insurance plan for yourself and make your Valentine the nominee. This way, you can ensure that the plan’s benefits go to your loved one in case of your premature death
  • If you already have a term plan, check whether the sum assured is sufficient. Having sufficient coverage is essential in today’s age when inflation is increasing the prices of goods and services. If the sum assured is not optimal, buy another plan to enhance the coverage
  • Buy a family floater health insurance plan to cover yourself, your spouse and dependent children.
  • The sum insured of the health insurance plan should also be sufficient to cover expected medical costs. If affordability is the issue, buy top-up or super top-up health plans to enhance the coverage level at minimal premiums.
  • Even if you have group health cover provided by your employer, invest in an independent health plan for better coverage features and an additional sum insured level
  • Also, invest in a critical illness policy which covers against major illnesses and pays a lump sum benefit on diagnosis of any one illness. This benefit would help you meet your financial obligations when a critical illness renders you unfit to work.


So, make this Valentines a memorable one. Gift your Valentine the perfect gift of financial security. It would be a gift which lasts not only for a day or a week but for their entire lifetime.


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