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It is widely believed by many that having life insurance is just another extra expense, which is not necessary at all. Financially educated guys take it as an outstanding idea as they dont wish to leave their families with costs but with some extra financial freedom. Practically speaking, one can analyze the degree of requirement of insurance by giving a serious thought over the following points-:


  • Is my mortgage adequately covered, or my loved ones will be on the streets if something unfortunate happens to me?
  • Are all my debts be it of credit cards, personal loans, car loans, and educational loans all covered?
  • What plan I have in place to have my dependents maintain at least 70% of the present living standard after I am gone?
  • What plan I have to continue my RESP plan for my kids if something unfortunate happens to me?
  • What plan I have if I get diagnosed with a critical illness that results in loss of job?
  • What plan I have in place to offset the effect of inflation on my hard-earned money?
  • What financial liberty I will be leaving to heirs so that they are not left alone facing estate taxes. What plan I have to take care of taxes on capital gains earned during my lifetime?
  • Will I be making my heirs to struggle to take care of probate fees after I am gone?
  • What plan I have to hold more independent, result-oriented, and meaningful life coverage than those offered by group policies?

Better to be more responsible and take the right decision at the earliest and avoid your dependents to be left without skies and with debts over their heads once you are gone



Life Insurance policy review is crucial for well being of the financial plan of an individual. Missing policy review often results in loss of vital time and money. Things which policy review addresses are as follows -:


  1. Takes into consideration changes in financial situation.
  2. It helps to reinforce the policy buying decision if everything stands justified.
  3. Changes in beneficiaries can be incorporated.
  4. Better plans come up with passing years and at a better price.
  5. It helps to provide clarity of policy buying decision.
  6. A policy review can provide better options if it has been rated earlier because of medical issues.

For more details, please visit: www.nothappywithinsurance.com



Doctors often find themselves in need of unfamiliar territory of financial planning after spending over a decade in college, medical school, residency, and even fellowships. They experience severe economic challenges between the end of student life and when they enter the workforce. Student loan is single most crucial debt on them which bothers at the onset.

Any physician should have a critical look at some of the essential factors namely


  • Life insurance: Provides financial protection to near and dear ones. It is also an essential aspect of estate planning.
  • Disability insurance: The value of future earnings is crucial for any physician.
  • Retirement plan in place. Often this aspect gets overlooked by physicians with the belief that I wont be retiring soon.
  • Protection against malpractice lawsuit claims as it may eat away the finances substantially.
  • Risk management: Includes all other insurances which mitigate the risk.
  • It helps in managing and protecting the growth.

It is an old saying that Doctors look rich but feel poor... It makes it more critical that the financial aspect of practice and family gets managed well.