Where do you stand in a world of DRS and Brain Fade?
Did you ever have a Brain Fade moment?
The cricketing community, at least the Indian one, is abuzz with DRS and Brain Fade post the second test match against Australia. For the traditional cricket fan used to good old bowling and batting discussions, these are offbeat concepts. But they are important nonetheless, and not just from the cricketing point of view.
First let’s understand what DRS is all about…
The DRS factor
The Umpire Decision Review System (UDRS) or DRS for short, has been a part of mainstream cricket for some time now. The Indian cricket team were late adopters of the system due to misgivings about the technology, but have now put their weight behind it.
To review or not to review that is the question
In the second test of the ongoing India-Australia series, Steve Smith, the Aussie captain was adjudged leg before and could not decide whether or not to opt for DRS (a team is allowed limited reviews).
In his ‘to review or not to review’ moment, Steve Smith was advised by Peter Handscomb – the non-striker – to refer to the dressing room for a signal. This is a strict no-no and against the rules of DRS. The review decision must be taken in the middle without any external help, be they your own team members from the dressing room.
Steve Smith, in his own words, was done in by a ‘brain fade’
What’s a brain fade?
A brain fade is just another bad day in the office, at least that’s what it amounted to for Steve Smith. It’s a moment of weakness, a lapse of memory, an error of judgment, anything you want to call it, that makes you look really bad or unprofessional at the end.
There is a DRS and Brain Fade in our lives…
It’s not just the cricket field that is a witness to all this – we see this in our lives every day.
Your company could be pursuing DRS or “Decision to Review Staffing”.
Like it or not, you could be among the unfortunate members of the team who is let go.
Like the cricket DRS you do not have the lifeline of external help either because others are in the same boat as you or you are just too embarrassed or even proud to ask for help in such a situation.
In critical moments like these; be it a financial setback or a medical condition, you often find yourself in a lonely place as you try to dig your way out.
Or consider a professional like a lawyer or an accountant or a surgeon who in a brain fade moment commits an unforgivable error. An error that costs him his job or reputation as it nearly did for Steve Smith.
How do you prepare for moments like these or the #IfsOfLife as we call them?
How do you prepare for these setbacks in your financial life?
The answer lies in better preparation
DRS and brain fades are not a lost cause. There are certain enduring ways to circumvent problems of this nature:
- Build an emergency fund
It’s a good idea to build an emergency fund of liquid investments to meet unexpected financial emergencies. The emergency fund provides for financial or health disasters or job loss or any event that takes a heavy toll on the individual’s finances. It is recommended to keep at least 6 to 9 months of living expenses in the emergency fund, although a larger fund secures the individual’s finances that much better.
- Take life insurance
One effective way to confront financial challenges, devastating medical conditions or the #IfsOfLife in general, is by taking life insurance.
We recommend term insurance plans, particularly Online Term Plans.
With Online Term Plans, individuals can opt for a large cover at relatively low premiums. The insurance cover is more affordable and the family is better placed to counter financial uncertainties.
Prefer Online Term Plans that offer riders. Insurance riders are an add-on to the online base term insurance plan, a supplementary cover that is triggered under certain conditions. The rider benefit is in addition to the life insurance cover on the primary life insurance policy. Riders serve to enhance the overall life cover under specific eventualities.
While buying term insurance look for riders that provide additional cover on:
While anyone can suffer from a DRS or brain fade moment, it’s certainly not a down and out moment, nor should it be one. With better financial and insurance planning you can come back hard and fast at the many #IfsOfLife.
Bajaj Allianz Life eTouch Online Term Insurance Plan, is a regular premium payment, pure term and health cover plan. The plan provides life cover combined with benefit on accidental death, Accidental Total Permanent Disability & Critical Illness and benefit of Waiver of Premium, depending on the variant opted by you.
Bajaj Allianz Life Insurance Company has one of the best claim settlement ratios of 98.1%* & is one of the most preferred brands to invest in for a JiyoBefikar future.
* On the basis of no. of intimated cases. Claim settlement ratio for FY 15-16.
#Note: All above figures are as on 31 March 2016