Father’s Day - Legacy of protection: Why dads shouldn’t skip term and health insurance

Every June, Father’s Day offers a powerful moment to pause and honor the strength, selflessness, and quiet sacrifices of fathers. While gifts and warm wishes are always appreciated, the truest tribute lies in recognising a father’s deeper role, not just as a provider or protector, but as a forward-thinking planner. Whether you're a new dad, nearing retirement, or somewhere in between, Father’s Day is a timely reminder to reflect on your long-term responsibilities. In a world of growing uncertainty, term and health insurance aren’t just financial tools, they’re essential pillars of protection, stability, and legacy. Here’s why no father should ever overlook them.

Why insurance matters more today than ever

Life is unpredictable. Jobs change, health can fail, and accidents never come with a warning. As the cornerstone of a family, a father’s presence is not just emotional, it's deeply financial. From EMIs and school fees to groceries and medical bills, a father’s income keeps the household running. But what happens if that income stopped? This is where term insurance and health insurance step in. While term insurance ensures your family is financially covered in case of your untimely demise, health insurance protects against mounting medical costs that can erode your savings. Skipping these protections, especially in your prime years, is not just risky; it’s avoidable negligence.

Health Insurance: The Backbone of Everyday Security

While term insurance safeguards your family’s future in your absence, health insurance protects your present, because illness doesn’t wait for retirement. As fathers juggle multiple responsibilities, one health emergency can derail years of careful financial planning.

Benefits of a separate health insurance policy:

·       Independent protection: Your policy travels with you, regardless of employment.

·       Customised coverage: Choose benefits tailored to your family’s needs, including maternity, daycare procedures, or chronic illnesses.

·       Cashless network hospitals: Avoid the stress of arranging funds during emergencies. 

·       Tax benefits: Premiums qualify for deduction under section 80D of the income tax act.

·       In short, health insurance is not just a medical tool, it’s a mental peace plan.

Dads as role models: Financial literacy begins at home

Children don’t just learn from what we tell them; they learn from what we do. Fathers who prioritise financial planning and insurance pass lessons in foresight, responsibility, and discipline.

Think of it this way: When your child sees you plan for uncertainties and protect the family, they inculcate that behavior. What you teach without words is often what lasts the longest.

Myths that hold fathers back

“I’m young and healthy, I don’t need insurance.”

 Youth is a time to lock in low premiums, not a reason to postpone planning. The earlier you start, the more you save.

 “I’ll invest instead of getting insurance.”

 Insurance and investment serve different purposes. One protects; the other grows wealth. Mixing the two leads to inadequate coverage.

 “My employer already gives me health insurance.”

 That coverage usually ends with your job. And it might not cover all dependents or treatments. Personal policies offer greater control and security.

Insurance for every life stage

Each stage brings unique needs, but the underlying goal remains the same: family-first protection.

Tax benefits that make it even smarter

Beyond protection, insurance also supports smart tax planning:

·       Health insurance: Premiums eligible under section 80D (₹25,000–₹1,00,000 depending on age and family size)

Why not secure your loved ones and reduce your tax burden at the same time?

Conclusion

This Father’s Day, instead of yet another wallet or coffee mug, give yourself, and your family, a gift of security. Term and health insurance are not optional luxuries. They are essential safeguards in a world where anything can happen without notice. A father’s legacy isn’t just the memories he leaves or the wisdom he shares, it’s the peace of mind he provides, even in his absence. Whether you’re at the start of your fatherhood journey or deep into it, it’s never too early, or too late, to build that legacy. Take the first step. Review your insurance policy today.