5 everyday buys that cost more than a term plan
When we think about expenses, we often overlook just how affordable some long-term essentials, like a term insurance plan, can be. We tend to prioritise the things that enrich our daily lives, whether that’s a morning coffee, a gym membership, or a favourite streaming service.
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But it’s surprising to realise that the cost of protecting your family’s future might actually be less (₹21 per day) than some of these everyday indulgences. Here’s a look at five common expenses that can cost more than a term plan—making it easier to see just how manageable securing your loved ones’ financial well-being can be.
1.Weekend Food Deliveries
Your food delivery expenses represent a major portion of discretionary spending that often goes unnoticed. A typical weekend order, whether it's dinner or Sunday brunch, may easily amount to Rs 500-600 per transaction, excluding additional platform charges and fees.
An analysis of major food delivery platforms reveals that consumers pay a premium of Rs 46 per dish compared to direct restaurant orders. These incremental costs, including delivery fees, packaging charges, and platform-specific surcharges, may accumulate to approximately Rs 12,000 in additional annual expenditure.
To contextualise this expenditure: while the average monthly food delivery spending ranges from Rs 4,000-Rs 5,000, a comprehensive Rs 1 crore term insurance policy requires an investment of merely ₹630 per month. This is exactly how reallocating funds from convenience services could secure your family's financial future with substantial coverage.
2.OTT Subscriptions & Entertainment
Let's break down your monthly streaming expenses with rough estimates: Netflix's standard plan at Rs 499, Amazon Prime at Rs 299, and Disney+ Hotstar at Rs 899 annually. That's already pushing more than Rs 1,000 per month just for basic streaming services.
Moreover, the expenses add up quickly when you take your family to the movies. A family of four may spend an average of Rs 1,560 per movie outing, including tickets and refreshments. Even with just one monthly movie outing and your streaming subscriptions, you are looking at approximately Rs 2,500 in entertainment expenses.
3.Gadgets
Your smartphone upgrade habits reflect significant spending patterns. In 2024, the average smartphone purchase in India costs Rs 21,800 ($263), with premium segment devices reaching well above Rs 49,600 ($600)
While you might upgrade your device every two years, this single purchase could fund over three years of a Rs 1 crore term insurance plan.
4.Cosmetics
Yes, your monthly investment in personal care and cosmetics likely surpasses the cost of financial security. A typical urban professional's basic skincare and grooming routine, including premium products and occasional salon visits, can average Rs 3,000-Rs 4,000 monthly—nearly five times the cost of a Rs 1 crore term insurance plan.
5.Gym memberships
Your gym expenses might also be costing you more than securing your family's future. In metropolitan cities, a commitment to health through a gym membership typically requires an annual investment of Rs 10,000 - Rs 12,000.
Breaking this down, you are spending approximately Rs 1,000 to Rs 1,200 monthly for basic weight training facilities. While investing in your physical health is undoubtedly important, it's worth noting that the same amount you spend on just a few months of premium gym membership could fund an entire year of financial protection for your family through a term insurance plan.
When you consider that a Rs 1 crore term coverage costs less than your daily coffee, the choice becomes clear. Your premiums stay fixed throughout the policy term while providing substantial protection and tax benefits under Section 80C.
For professionals earning Rs 5-Rs 7 lakh annually, this minimal investment safeguards your family's future with comprehensive coverage. HDFC Life's Click 2 Protect Super offers this peace of mind at just Rs 21 per day. Take a moment today to prioritise what truly matters—your family's financial security tomorrow.
(This article is part of IndiaDotCom Pvt Lt’s sponsored feature, a paid publication programme. IDPL claims no editorial involvement and assumes no responsibility or liability for any errors or omissions in the content of the article.)
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