Of late, I’ve been thinking quite a bit on what I’d do if the following scenario were to happen. Suppose your ability to earn a regular income is hampered because you suffer a disability due to whatever reason (say due to an accident). How would you plan ahead and financially mitigate for this scenario? Remember, […]
We generally purchase life insurance as a means for protecting our dependents from economic hardship. While most non-term life insurance policies such as endowment policies, whole-life policies, and such payout without much hassle, the same isn’t true of term life insurance policies — especially the ones issued by private insurers. How would you plan ahead […]
Suppose you issue a check. You later discover that there isn’t sufficient balance in your account to honor the check but the check has already come up for presentation. How would you plan ahead to mitigate this scenario? The only option that I can think of is to avail an “overdraft” facility on your account. […]
When I first asked “What’s Your Fallback?”, it was meant to be a one-off topic. But the more I think about this question, the more questions it leads to about one’s personal finances: How would you deal with the financial setbacks that happen in your day to day life? A case in point: Health Insurance […]
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: […]