Parents Day
All parents and children wish you a happy Parents Day. Parents continue to look out for their children even when they are adults who are working and supporting themselves. Parents constantly give their children gifts, attention, and everything else they feel qualified to give.
On Parents Day, we celebrate the parents who have generously given everything they have to their kids and who will do so forever.
All of you, grown children (who are now independent because of your parents’ tremendous labor, prayers, and blessings), may take this opportunity to give your parents a present that will support them in their later years. Here are some gift suggestions for your parents that you, as working children, can be sure they will treasure forever.
Happy Parents Day
As children get older, their needs for retirement income will increase. Therefore, if you have parents who are employed, you can provide them guaranteed income insurance policies, in which you put down a premium over 5–7 years and the parents receive payments till the end of their lives. In addition to being tax-free, the interest rate will be higher than what banks are currently offering on fixed deposits. If you’re looking for a guaranteed income that will be available every year, this is one of your options.
As children get older, their needs for retirement income will increase. Therefore, if you have parents who are employed, you can provide them guaranteed income insurance policies, in which you put down a premium over 5–7 years and the parents receive payments till the end of their lives. In addition to being tax-free, the interest rate will be higher than what banks are currently offering on fixed deposits. If you’re looking for a guaranteed income that will be available every year, this is one of your options.
There is an advantageous relationship between parents and kids! As the kids become older, it shows up as role reversal. Parents who provided for their children’s needs are now being financially, emotionally, and physically cared for by their offspring. Particularly in India, where children are still seen as an investment for their parents’ retirement, working children are typically a source of support for their parents. Why then not purchase term insurance? If the parents are named as candidates for the life insurance policy, they will have enough money to maintain themselves.
Healthcare costs have skyrocketed. During the epidemic, a lack of medical supplies had an impact on numerous people. Early health insurance enrollment for parents is only logical to ensure the parents have sufficient coverage. A person is more likely to require and make use of health insurance as they age. Therefore, it is essential to get health insurance as soon as possible since after the parents get very old or have a lot of complications, it would be challenging to get an acceptable insurance coverage and a low price.
As children, one might wish to celebrate their parent’s milestone anniversaries, such as their 60th, 50th, or 80th, or even take them on a trip around the world or an all-India pilgrimage. In particular, when done with extended family and friends, these activities can get expensive if done on a large scale. When you are young, you can put money down in ULIPs or other high-returning savings products to cover these certainties in life. Therefore, it’s a good idea to start making these purchases early so that their special day can be remembered in style. Their beaming smiles will be kept as a happy memory.
Let’s make a promise to provide for our parents financially on this Parents Day. Let’s make plans and take action right away to make sure they enjoy their golden years.
I hope you enjoy the day with your parents and receive their blessings!
I’d like to wish everyone a happy Happy Parents Day!