What’s Your Fallback?

by Vinaya HS on September 15, 2010

in Finance

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At work, our Director of Product Management was presenting when he mentioned the term “fallback” in context of our products. That term struck a deep note because your success in your personal finances depends to a large extent on the fallback mechanisms that you have in place.

I can immediately think of these fallback mechanisms:

  • Emergency Funds
  • Health Insurance
  • Life Insurance
  • Support from Friends and Family

Can you add to this list?




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 3 comments… read them below or add one }

Vinay September 15, 2010 at 12:16 AM

Job backups :)

Vinaya H S September 15, 2010 at 5:42 AM

Job backups! I like that term. :-)

Also, would long-term disability insurance be a good add to this list? This far, I’ve seen only one such insurance policy on offer in India: Tata AIG’s Secured Future Plan. I’ve unsuccessfully tried to get more information on this policy from Tata AIG. Nobody there even wants to acknowledge its existence.

Ravin September 20, 2010 at 5:51 PM

Skill development/enhancement

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