What’s Your Fallback?

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?

3 thoughts on “What’s Your Fallback?

  1. 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.

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