Thanks for visiting Capital Advisor. I frequently update this blog to cover various topics on personal finance such as investment strategies, financial products that you should buy and ones that you really should stay away from, financial calculators, emerging themes such as early retirement and financial independence, 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.
I simply love coffee. You can hook me up permanently to a Coffee-IV and that would be a debt which I can never hope to repay.
Jokes apart, there’s this coffee bean grinding place near D’s place that dishes out some exceptionally aromatic coffee powder. I’m hooked to that coffee powder but unfortunately the owner of that place also happens to sell LIC policies on the side. You can almost predict what would happen in such a volatile situation!
After a few visits and chit-chat that confirmed my status as a “prospect”, I was pitched a “Jeevan Anand” life insurance policy — the once-in-your-lifetime saving-plus-investment-plus-insurance opportunity.
I’m beginning to think that “Jeevan Anand” is almost as good as God (not Gold). It’s invisible, omnipresent, and will have you begging for mercy each morning.
What do you think?
I’ll tell you another day about this email I just received where both the husband and wife have individual Jeevan Anand policies (for a total annual premium of about Rs 1.35 lacs) and they don’t know why they took the policies (“the agent sold it to us” is what I read).
So, coming back to my story, here’s how I escaped with just my coffee powder –
“I already have a Jeevan Anand policy for Rs 5 lacs for which I am paying a premium of Rs 25,000-odd each year. I’m already finding it difficult to pay that annual premium given all of my other EMIs (car loan, personal loan, etc.).
So, unfortunately, I will not be able to buy another policy at this time even though I know that my insurance cover is abysmally low. But once my EMIs are over in a few years’ time, I will definitely buy another Jeevan Anand policy from you.”
That did the trick.
And since I’m in a jokey-mood, here’s another one.
A business model for Starbucks in India — A Jeevan Anand “To-Go” with Your Espresso.
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.