HOW DO WE WANT OUR LOVED ONES TO REMEMBER US AFTER WE ARE GONE?

HOW DO WE WANT OUR LOVED ONES TO REMEMBER US AFTER WE ARE GONE?

An interim report of the 'Million deaths study', the largest-ever study of premature deaths in the world, has provided some interesting insights on the causes and patterns of deaths in India. 'Million deaths study' is undertaken in collaboration with the Registrar General of India and monitors 1.4 crore people in the country (Up to 2014). According to the report, heart disease is biggest killer of people in the age group 25 to 69 (the most productive, age of an individual). About 25 per cent of total deaths occur because of heart ailments while 20 per cent of deaths are due to respiratory disorders and tuberculosis, 9 per cent due to malignant and other tumors, 5 per cent due to accidents and other deaths are a result of digestive, diarrheal and ill-defined diseases and fevers.

What is more noteworthy is that 61 per cent of deaths in this age group (25 to 69 years) occurred after receiving medical attention at some stage before death, irrespective of the cause of death.

Another major study (Mortality statistics in India) conducted by the Central Bureau of Health Intelligence, Government of India, indicates that there are 5 deaths in a year for every 1000 individuals in this age group.

When we look at the above two studies in conjunction, we understand that 5 amongst every 1000 individuals between the ages 25 and 69 are likely to die per year and 3 of them die while medical care is administered.

In the past, when access to medical care was limited, the death of an earning individual created a loss only on account of future earnings. With the access and advancement of medical facilities increasing and social esteem becoming more and more significant, every death is creating a three-fold loss to the dependents.

Medical expenses before death

While people get heartbroken because of the death of the person, they get broke due to the cost incurred on medical treatment. Death may not be sudden and 3 in every 5 individuals die leaving the family with medical bills. The yearning to make a person survive coupled with the fear of social shame compels the family to spend beyond their means on treatment which ultimately impoverishes them to the extent of this spending. As it takes time to break deposits or mortgage idle assets like land, these huge expenses are usually met through quick hand-loans or pledging gold ornaments.

Funeral expenses on death

Dying is not inexpensive anymore. In fact, death has assumed the power of pulling families into sudden poverty. Even the poorest of the poor don't abandon the dead fearing social disgrace. The cheapest ceremony costs a lakhs of rupees today. It starts with the freezer box and ends with the feast to people who come to offer
condolences. At every stage of the funeral, their social standing should get reflected and any compromise is
deemed to be un-respectful to the dead person.

Loss of all future earnings

The future of the family could be at risk if the earning person passes away. When a person dies at the age of 40, it means the earning engine stops functioning there. The wife and the children of the individual will be
deprived of his earning and contribution at least for the next 20 years. Probably with the wife never working
before, the family has to strap themselves down, cut down on their livelihood expenses and condense their previous lifestyle. If the family can't afford to pay for the mortgages, they might as well lose the assets that the person tried to create for them.

Most people who understand that tragedy can strike anytime also sometimes feel confident that they have a reasonable financial backing to take care of these things on death. The general impression is that their deposits, bank balances, movable and immovable assets will come handy to their family. But the question is whether they are building these assets for the future of their family or to vaporize them on their death leaving their loved ones financially destitute!

With adequate insurance, people can protect their families from financial distress; it can resurrect the earning component of the person, it can give a decent cremation without putting undue pressure on the family and can also get mortgages and medical bills written-off. Let's be insured and make our loved ones remember us forever with love.