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  • Writer's pictureV Govindas

Rebuilding Lives: A Testament of Strength in a Death Claim Settlement

This was one of my experiences with the settlement of a client's death claim. This serves as an illustration of the need for appropriate insurance.


The couple, Mr. X and Mrs. Y, had two daughters. Mrs. Y worked for a government organisation in the telecom industry, while Mr. X was a shift supervisor for a private company. She connected me to Mr. Y through her coworker, who also happens to be the wife of my client.


One day Mrs. Y asked me to visit her home to discuss and finalise her husband's life insurance policy. I went to their home and we reviewed all the details before suggesting the appropriate amount of insurance. Mr. X felt confident choosing the Recommended Sum of Insurance for his own insurance.


Mrs. Y, however, was incredibly haughty and remarked that you only cover half of it because I have promised Mr. Govindas that you would purchase an insurance policy for that amount. Mr. X stated during the conversation that we are comfortable taking out insurance under Mr. Govindas' advice, thus we will do it. Mrs. Y didn't agree, though, and only insured half of the required coverage.


The policy was functioning well. Over ten years had passed since the policy was implemented. One day, sad news broke that Mr. X had tragically died while crossing a pedestrian crossing with the right traffic signal. Mrs. Y didn't let me know.


Her sister called me 20 days after the tragic death of Mr. X and told me what had happened. She also said that she was embarrassed to speak to you because she was so condescending the day she bought insurance. Then, after persuading her that what has happened must be accepted and we must move on, I confirmed the appointment and met them at their home to finish the necessary procedures for the death claim.


She was saying that she utilised her entire income to pay for all of her obligations and EMIs. and He used his money to take care of their regular household expenses, the children's education, etc. His income is no longer being received, and her salary is being committed. Please picture the scenario.


I was able to settle their death claim in just 4 working days. There were no NEFT transactions at the time, therefore I carried their claim cheque to their home. She sobbed uncontrollably and apologised once more for her arrogance when purchasing the policy, saying that this is the first money she is receiving in his name. She also said that I would be in a better financial position right now if I had taken your advice into account.


By God's grace, she took out insurance to protect her children from the unfortunate, and today all are comfortable. The purpose of telling this anecdote is to illustrate how, though we don't yet know when or how, life insurance will be helpful.


So, have a discussion, consider the recommendations, and put them into action as soon as you can.


Be Safe and Insured.

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