Why Dads Are Cool ?

18th June 2017

Dad’s the way to love and roll
Father’s Day – usually the third Sunday of June – is an occasion for celebrating fatherhood and the influence of fathers and father figures on society. For children, it’s time to recall the deep bond they shared with their dads and to thank them for being there and for getting them where they are.

The father is at the root
An Arabic proverb likens the father to the root, without the root, there is no tree.
And a root he most certainly is, not just for the child, but in many ways, for the family as well.
It’s not easy being a father, at least not in these times. Right from the beginning when he is on duty in raising the child, putting food on the table and providing the emotional connect in moments of anxiety. This much was common for fathers across generations.
But the modern-day dad has a little more on his plate as far as responsibilities go and it’s important that children understand this and empathize with their dads in moments of stress.

  • Rising cost of education

Used to be that education was a lot affordable when present-day dads were in college. Also, when possible, many earned along their way to a degree.
Today, just the cost of extra tuitions / tutorial classes for high school and college is probably equal to the advanced education cost of yore.
Once kids sail through expensive coaching, they must deal with even more expensive higher education. Guess who foots the bill? Yes, it’s the dad. And given the stress kids are under in attending college, coaching classes, preparing for exams, there is little or no energy and time to take up a part time job to fund part of the education.

In India, the share of total household expenditure on higher education is 15.3% in rural and 18.4% in urban areas. In south India, the corresponding figures are at astonishing rates of 43% and 38% respectively.

(Source : TOI)

Evidently, it’s all down to the father to provide for the child’s education.
On a positive note, there is help at hand for anxious fathers in the form of child insurance plans.
Child insurance plans are tailor-made to meet the future financial needs of children. You could invest in them to build a corpus for:

  • Child’s Education
  • Child’s Marriage
  • A house that you wish to gift your child, or some other similar goal

Child insurance plans are available in both forms – Unit-Linked Insurance Plans (ULIPs) and Term Insurance Plans – to suit individuals with varying risk profiles.

  • Not there, but still done that

A gnawing worry for fathers is what happens to the children and the spouse when they are no longer available. Who pays the bills, who settles the outstanding loans…what happens to all those dreams that the family had seen together?
Thankfully, dads have a solution in term plans that can achieve all this, in the breadwinner’s absence.

Term life insurance plans are purchased for a specific period of time, for a predefined sum of money, technically referred to as the sum assured. Over the policy tenure, if the policyholder meets with an eventuality, the sum assured is paid out to the beneficiaries. If he survives the tenure, there is no pay out. The beneficiaries can pay off bills and settle liabilities with the term plan proceeds.

  • Emotional connect

A wise father once said, “Your child will keep building castles in the air….you better start buying bricks for that castle today…”An area where modern-day dads contribute or are expected to contribute a little more than their peers of the previous generations, is on the emotional front. With social media being a rage, children are exposed to friends (often faceless) and trends (often dangerous) that can have a toxic effect on their minds and bodies. Without a watchful father to filter these influences, the child’s very development could be at stake.

Father’s Day is a time to ponder over and celebrate everything the family breadwinner and parent has done for the child over the years, often in the face of unsurmountable odds. In fact, this is so overwhelming, that no single day can be expected to capture it all.

As a caring father, you would always want your child to get the very best. To ensure that you fulfil dreams that you may have for your loved ones, financial planning for their secured future is very important. At this moment, you understand that you need to be sensible with your financial planning and cater to your child’s future needs when it comes to accommodation, higher education, college fees, and many more.The untimely death of the father causes severe trauma to a child and can leave his or her future hanging by a thread. Under child plans, Life Insurance companies offers a premium waiver if the parent (i.e., the insured) passes away during the policy term of a child plan. The premium waiver benefit often comes built into child plans.



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