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Beyond Banking

This Insurance Awareness Day, Bust Myths Like A Pro

Insurance Awareness Day

The word ‘protection’ can have many interpretations. Most commonly, it is associated with caring for your family. But how can you ensure your family is protected from mishap, disease, or threat at all times? If by mischance you cannot be around to look after your family, a life insurance plan can take care of things for you. Unfortunate events cannot be avoided altogether, but knowing your family is secure through a life insurance plan can bring peace of mind.

Is it necessary to dedicate a whole day to insurance?

Insurance Awareness Day, observed on June 28, is dedicated solely to convey the important message of protection, security, and assurance during uncertain times – all under the umbrella of insurance.

Lack of insurance awareness has proved to be one of the biggest obstacles in its spread across the country. Ask around and you will get responses that are either vague or completely misinformed.

The very concept of insurance seems flawed to many, and it is believed that life can go on as it is. However, contrary to popular belief, we do in fact need a dedicated day to serve as a big reminder. So, let’s bust some prevailing myths as we understand this important day better.

  • Young people do not require life insurance: Many people think this to be true, but it is not. Even young people aren’t immune to the curveballs that life can throw at them. Uncertainties can occur at any time, which is why young people are encouraged to invest in life insurance. Incidentally, the earlier you sign up, the lower the premium cost will be.
  • Insurance is only for the rich: How many of us are guilty of assuming that life insurance is meant only for the extremely wealthy? This is far from true. Anyone can avail of a reasonably priced insurance policy. Even if you start with a lower sum assured, you can build your way up via extra cover and add-ons.
  • The process is very tedious: The internet is your best friend. You have the option of comparing all the various insurers online and choosing a plan that works best for you. From there on, a few simple steps and instructions will secure your future – and that of your loved ones.

Thus, choosing a comprehensive term insurance plan goes a long way in ensuring financial protection for your family. IDFC FIRST Bank brings you some of the best term insurance plans from three leading life insurance companies in the industry – ICICI Prudential, HDFC Life, and Bajaj Allianz.

IDFC FIRST Bank is here to put YOU FIRST

Our customers are our top priority. Since they come FIRST, we go the extra mile in explaining our salient features to make sure they feel confident of their decision. Here are the main plus points:

  • Cost-effectiveness
  • Long-term protection
  • Convenient payment options
  • Additional riders
  • Tax benefits

When you care for your loved ones, you don’t wait till the last moment. Your future is their future, so make sure it is secured. IDFC FIRST Bank ensures that all your needs are met, and that your loved ones are cared for even in your absence. So what are you waiting for?



The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.