But it’s surprising to know that the cost of protecting your family’s future can be less (₹21 per day) than some of these everyday behaviors. Here’s a look at five common expenses that can cost more than a term plan—making it easy to see how it can be managed to protect the financial well-being of your loved ones.
1. Weekend Food Delivery
Your food delivery costs represent a large portion of discretionary spending that is often overlooked. A typical weekend order, be it dinner or Sunday brunch, can easily be around Rs 500-600 per serving, excluding field charges and surcharges.
An analysis of major food delivery platforms reveals that consumers pay a premium of Rs 46 per meal compared to direct restaurant orders. These incremental costs, which include delivery charges, packaging charges, and platform-specific surcharges, can add up to around Rs 12,000 in additional annual revenue.
To reduce these costs: while the average monthly cost of food delivery ranges from Rs 4,000-Rs 5,000, a full term insurance policy of Rs 1 crore requires an investment of just ₹630 per month. This is exactly how redistributing funds from simple utilities can protect your family’s financial future with more coverage.
2.OTT Subscriptions and Entertainment
Let’s break down your monthly streaming costs into rough estimates: Netflix standard plan at Rs 499, Amazon Prime at Rs 299, and Disney+ Hotstar at Rs 899 per year. That already pushes over Rs 1,000,000 per month for basic streaming services.
In addition, costs add up quickly when you take your family to the movies. A family of four might spend an average of Rs 1,560 per movie outing, including tickets and drinks. Even with a monthly movie outing and your streaming subscription, you’re looking at around Rs 2,500 in entertainment costs.
3. Gadgets
Your smartphone’s upgrade habits reflect key usage patterns. By 2024, the average smartphone purchase in India will cost Rs 21,800 ($263), with premium segment devices reaching over Rs 49,600 ($600)
While you may upgrade your device every two years, this one-time purchase can cover more than three years of a full-time insurance plan of Rs 1 crore.
4. Cosmetics
Yes, your monthly investment in personal care and services probably outweighs the cost of financial security. Basic skin care and grooming for a typical urban professional, including premium products and occasional salon visits, can average Rs 3,000-Rs 4,000 every month—almost five times the cost of a Rs crore full-time insurance plan.
5.Gym membership
Your gym expenses may also cost you more than protecting your family’s future. In big cities, a health commitment with a gym membership usually requires an annual investment of Rs 10,000 – Rs 12,000.
To break this down, he spends around Rs 1,000 to Rs 1,200 every month on weight training facilities. While investing in your physical health is undoubtedly important, it’s important to realize that the same money you spend on just a few months of paid gym membership could fund a year of financial protection for your family with a long-term insurance plan.
When you consider that a Rs 1 crore term deposit costs less than your daily coffee, the choice becomes obvious. Your premiums remain fixed throughout the policy term while providing maximum coverage and tax benefits under Section 80C.
For professionals earning Rs 5-Rs 7 lakh per annum, this small investment secures your family’s future by covering it all. HDFC Life’s Click 2 Protect Super offers this peace of mind for just Rs 21 per day. Take a moment today to prioritize what really matters—your family’s financial security tomorrow.
(This article is part of a sponsored feature by IndiaDotCom Pvt Lt, a paid publishing program. IDPL claims no editorial involvement and assumes no responsibility or liability for any errors or omissions in the content of the article.)
