World Health Day – Is Depression taking a toll on your health and wealth?

7th April 2017

April 7th is World Health Day, a global health awareness day observed under the auspices of the World Health Organization (WHO). This day has a lot of importance for all things related to health – body, mind, soul and yes, even your finances.

WHO has designated #Depression as this year’s theme for #WorldHealthDay.

WHO’s estimates reveal that over 300 million people are suffering from depression globally, an 18% jump between 2005 and 2015. Depression is a leading cause of ill health and disability worldwide. In extreme cases, it leads to suicide, which has been one of the rising incidences in the country. Main reason why depression isn’t talked about as much as other illnesses, is due to the stigma linked to the disease and poor support from the social circle. This prevents patients from seeking help, which further aggravates their sufferings.

Depression-like symptoms in your finances

Chateshwar, a 35-year old private sector professional, is good at his work. He has two daughters and his wife is a homemaker. What keeps Chateshwar up at night and stressed at work is the thought of providing for his family over the long-term, especially when he is no longer around. Among other must-do’s, Chateshwar aims at achieving the following for his family:

  1. Providing best-in-class education for both his daughters – one aims to become a lawyer, while the other dreams of becoming a heart surgeon
  2. Marriages of both daughters
  3. Covering the outstanding EMIs (equated monthly instalments) on the home loan that he recently took
  4. Providing for family’s financial security in his absence

As is evident, there is a lot on Chateshwar’s plate. But stressing over it and showing depression-like symptoms at work is hardly the answer. Fortunately for Chateshwar, his financial planner Lokesh has some fitting solutions for him.

Finances: Let’s talk

Lokesh, a competent and experienced financial planner and insurance agent, recommends some basic steps to help Chateshwar overcome his worries.

  1. Chateshwar should opt for a term plan on priority, preferably an online term plan, for the convenience and affordability. He should go for a life insurance cover that provides for:- The outstanding home loan EMIs
    – The monthly household expenses
    – Other liabilities / loans
  2. He should buy a savings and investment plan – like an endowment life insurance plan to plan for children’s education and marriage.
  3. Alternatively, if Chateshwar is open to taking risks for higher returns, he can set aside some money in a Unit-Linked Insurance Plan (ULIP).

Discipline over depression

If Chateshwar adheres to the financial plan drawn up by his financial planner and sets aside money religiously in the term plan and endowment plan and/or ULIP, there is every reason to believe that he will achieve his long-term financial goals.

Discipline can trump depression and anxiety any time.

Clearly, a lot of problems at first glance seem out of control making us agonize over them ceaselessly. However, some level-headed planning and a heart to heart discussion with professionals and close ones, can help mitigate these problems and permeate a sense of calm and tranquility at home and work.


References in the article to occasions / events are only for representation purposes and we are not responsible for any misrepresentation/misuse of the same. Opinions in the article are made without mala fide intention.



A new Financial Year, a renewed focus on financial planning.

Naam Kamana! PV Sindhu, Poorna style
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