Every Indian family loves the gifting season! Yes, it’s that time of the year when preparations are in full swing across Indian households as the year is heading towards more joyous festivities. Inevitably, gifting is the buzzword of the season, especially for families that love to get together and celebrate. Here, we list the top 7 invaluable gifts that offer financial security to your family members and loved ones!
Different types of insurance solutions can play a pivotal role in safeguarding your expensive valuables and important assets from unforeseen events that may disrupt your festivities or result in unexpected financial losses.
Remember, there is a perfect insurance gift for every aspiration in your life - so here we have tried to bring to life the dynamics in every family and then match it to the invaluable gifts you can consider for your loved ones!
Health Insurance
Remember, Amitabh Bachchan in ‘Piku’ and how his obsession with constipation leads to embarrassing conversations at the dinner table! In every family, there is at least one person who loves to articulate their health concerns in great detail to others. And there’s always another family member who is fitness-conscious and convinces others to follow a healthy lifestyle such as drinking green tea, eating natural food, avoiding processed food and so on. The biggest wealth, as the wise ones say, is good health! Gifting loved ones with a financial safety net that safeguards their health over a long period is a smart gift that is as precious as good health. More importantly, it safeguards your family from rising medical expenses and anxiety related to unexpected events.
Wedding Insurance
Indian families love the wedding season! Remember, the popular matchmaking show on Netflix, where Indian couples strive to seal their matrimonial alliance based on their expectations? Be it Bollywood films or jewellery ads, the ‘big fat Indian wedding’ is hugely popular and highly glamorised, which means more expenses than a family would plan for. In October 2022, a report in TOI mentioned that the Indian matrimony industry has been pegged at around Rs.3.75 lakh crore, which means that for an Indian household, it is a lifetime of savings that goes into creating such lavish wedding experiences. For the same reason, wedding insurance is essential as it covers unexpected developments such as postponing a wedding or cancelling it.
Home Insurance
A sparkling home is a sign of a disciplined and aesthetic lifestyle. A home is the most precious and expensive asset to safeguard from damage that can arise due to any unexpected natural calamities such as floods and cyclones, or even unforeseen situations such as burglary etc. A thoughtful gift to a loved family member is to take a basic or package policy that covers loss from natural disasters, burglary, housebreaking, breakdown of electrical equipment that can risk causing a fire, etc. For instance, this is a good time to consider firecracker liability insurance as it protects businesses and individuals against unexpected accidents injuries or damage caused to property due to firecrackers. This becomes more relevant in the case of those who are living in apartments and independent homes where celebrations are vibrant.
Notably, as home insurance is quite affordable, more awareness of its benefits is required. Interestingly, many real estate builders are also leveraging the benefits of going ‘green’ in their upcoming projects, which paves the way for consumers to increasingly opt for green insurance.
Travel Insurance
Nothing brings family members together the way travel does! From planning to preparing and finally travelling together, there are always last-minute things that tend to take us by surprise such as a flight cancellation. When travelling with close friends or family members, delays can have a ripple effect on the entire experience, which is why gifting travel insurance matters. While booking tickets online, you always have the option to select embedded insurance for your loved ones.
Jewellery Insurance
A report in Outlook Money highlights that India is the world’s second-largest gold jewellery consumer, with China taking the no 1 position. Interestingly, bridal jewellery dominates India’s gold market and is pegged at around 50-55 per cent of the domestic market share. Given the cultural importance of gold jewellery in Indian households, jewellery insurance would be a valuable and thoughtful gift for family members and one's closest friends. This is also relevant for couples who are in the process of finalising their marriage plans.
Pet Insurance
In every home where there is a much-loved pet, as precious as a family member. Safeguarding and protecting a pet is a critical component of the family’s well-being as well. In the season of gifting, pet insurance is a perfect example of how to love and care for the whole family’s happiness with a one-of-its-kind insurance policy. Taking care of your pet without any worries about unexpected and expensive medical bills is a gift that works well for the whole family. For those who have close family members or best friends with pets, this is a truly thoughtful gift to ‘wow’ and pamper them with.
Device Protection & Coverage
From grandparents to parents, children and even grandchildren, everyone has a mobile phone they are glued to. Take a look all around you. There will be children as young as five years old with fancy smartphones they play games with. A downside to this is that devices are more at risk and prone to damage due to the way they are used nowadays. Protection from theft, accidental damage, high repair costs and loss of phone is important. Therefore, consider gifting yourself and your loved ones with good gadget insurance that will provide adequate coverage and protection throughout.
Gifting is Joyous; Insurance is Precious
Gifts don’t have to be conventional or seasonal, they can be an expression of your thoughtfulness and care for your loved ones. There is little we can do in the case of an emergency. This season of gifting propels us to do our bit for social good and the family’s long-term well-being. Of course, every home has its gifting patterns and that brings families together in simple ways.
One of the most lasting ways to demonstrate love is to offer financial security to loved ones and what could possibly be more trustworthy than insurance at every touchpoint of life’s roller coaster ride? Wait! Your life gets easier with seamless, contextual and personalised solutions.
The joy of gifting is special and this type of ‘insurance’ gift offers financial stability.
Most importantly, while gifting brings joy, insurance is an invincible safety net and there’s nothing as fulfilling as the feeling you get from helping, giving and serving others. You can find out more about what Zopper is all about by exploring the ‘About Us’ page.
