Make Your Mother’s Health And Financial Well-Being Your Priority

By Rikhil K Shah Chief Financial Officer (CFO), SBI General Insurance

Someone once said, “Life doesn’t come with a manual, it comes with a mother”. Such is the impact mothers have on their children and family. Mother’s Day is celebrated to recognize and thank all the mothers for their accomplishments, contributions, sacrifices, and love.  And each year on this day many of us try to make our mothers feel a little special by gifting them something. With Mother’s Day just around the corner, the hunt for the best gift must have begun for many. And it is now that we must consider the importance of health and financial well-being, especially for your mother, who may not prioritize herself.

Most of our mothers have overseen household finances and budgets for many years and are adept at running a tight ship when it comes to managing monthly budgets. However, many are overwhelmed when it comes to banking, finance, and insurance. They may find the subject complicated and rely on their sons, husbands, or fathers to manage their funds. It is important to empower them to understand financial planning and make their own money-related decisions.

Though unconventional, gifting your mother financial education is extremely thoughtful and a must-do to ensure their well-being. It is important for mothers to understand how to manage finances efficiently and invest in the right instruments to manage and grow their money, thereby having an adequate financial backup in case of any unforeseen events.

Begin by carving a financial plan that will help them prioritize and align to their objectives and life goals. It is prudent to make her aware of various aspects of financial planning including the significance of health insurance.

The most important aspect is to secure your mother’s health during unforeseen emergencies. Sometimes such adversities are unavoidable and to be able to provide your mother with the best healthcare facilities, without any financial stress, health insurance is essential. Health insurance also covers the cost of treating certain illnesses that women are more prone to, such as breast cancer, cancer of the reproductive system, etc., and is, therefore, critical and interlinked to their financial independence and well-being. It will also allow your mother to claim tax benefits on the premiums paid under section 80D of the Income Tax Act. Hence, the best gift this mother’s day would be to get her the right health insurance policy.

When choosing a health insurance policy for your mother, it is important to understand the type of plan to opt for and any pre-existing covers. Ensure that the plan selected for your mother is a well-suited policy for women and includes all benefits required at different stages of their life.

This Mother’s Day, move over the conventional gifts and gift her a financially secure future! Empower your own superhero by bringing her a step closer to realising her dreams and ensuring her health and financial well-being are done.

Also Read: Story Of A Super Mother’s Determination From Urban Company