Save sufficient for your old age

I had retired from Indian Air Force as a Honourary Flight Lieutenant in April 2016 having served for 39 years as an air warrior. During the period of 39 years, from May 1977 to Mar 2016, I never thought to have any saving for my old age. I kept on fulfilling the requirement of my parents, uncle, brothers and other family members who were always looking up for my help. I was not only eager but always felt proud to help them in the way they desire. I had enough talent and capability to acquare specified education to upgrade my career. However due to my love and affection to my family members, I decided to uplift the family status first and then take care of myself.

Fortunately, I was successful in my endevour and provided all required amenities and comfort to my parents and brothers. I Built new houses at my native village as per my parents desire. I was able to open motor parts shops for my both brothers at Danapur Market (Bihar) and settled them with their own business. The family came up to a respectable standard where every person has got a job and earning for himself. My parents and brothers were all happy and I bacame a favourite person in the family. It felt proud as it was my duty as an elder son of my parents.

I was an early married person and have two sons and a daughter.. My wife is a very good house manager. Children were labourious and very well at studies. They completed their schooling through Kendriya Vidyalays all over India, wherever I was posted in the Indian Air Force. Luckily I got my transfer in Bangalore in Jun 1995 and my children studied at kendriya Vidyalaya, DRDO complex at Bangalore. My both sons completed their 12th from Kendriya Vidyalaya DRDO Bangalore. In August 2000 I was posted to Air Force Station Suratgarh in Rajasthan but my both sons completed their BCA and BE from Bangalore. They also got their job appointments in Bangalore in 2004. My younger son is still serving in Bangalore as software Engineer. My Elder son shifted to New Delhi when I got my transfer at Air Headquarter (Vayu Bhawan). My daughter completed her B.Tech (Computer Science) from Mathura (UP). Now she is taying in Bangalore with her husband. My children are well educated and they are have a lot of love and affection for us. We are fortunete as our younger son and daughter are ready to provide every possible things whatsoever we desire. We feel proud staying with them for our small period of vacasion in Bangalore.

However, I decided to stay in my home state after my retirement from Indian Air Force. Hence I had purchased two plots near Gola Road in the year 2003 with my own earning and saving. I got the registry of the lands on my name because I was to build the house by taking Loan from Indian Air Force. I built up a double story house at 1.5 Katha plot from Jun 2011 to Jun 2013 with the help of House building loan from Air Force Group Insurance Society, my saving through provident funds and amount earned during my United Nation Peace keeping Mission to Congo (Africa). I called my elder son from Delhi in Jun 2013 to stay in the house with his family because I was still serving in the Indian Air Force. My both brothers, whom I settled with Motor parts business at Danapur market were staying in the rented house at different places. We all three brothers got divided in Sep 1998. After demice of our father in March 2001, we all brothers were totally seperate and were meeting our own family commitments through self earnings. The land at Gola Road Danapur (Patna) was purchased in Jun 2003 and December 2003.

My both brothers had cunning eyes on my house and self acquired property at Danapur. They requested me to allow them to stay in the flats on first floor of the house which was built for rent purpose. Having seen their pitiable and misery conditions in the small rented quarters, I also thought to keep my brothers together instead of giving the flats on rent to others. My wife and elder son resisted about keeping my brothers in the house. However my brothers shifted in the house in July 2013 with my consent. I believe It was the biggest mistake of my life.

After a year, they started troubling my son in my absense. Slowly they started asking for their share in the house. However till I was in the Indian Air Force they did not come up openly for asking a share in the house. When I retired from the Indian Air Force in Apr 2016, they came up openly asking me a share in the house, my accant land at Danapur and even they asked for their share from my pension. I was shocked on their behaviour. My all faith and believe in the human behaviour was stunned. I never thought that my own brothers for whom I did every possible thing willingly from their childhood to self employment with Motor parts business by taking loan from Indian Air Force and sell of my wife’s jwellery. They did not provide me any financial help during my children marriage, purhchase of plots at Danapur and building of house. Since the land is registered on my name they provocate to have their share in my self acquired property. How pitty I should feel about this act which occurred with me after my retirement. It is realy a matter of shame for the society where an elder brother is being coxed and penalised for his simple honesty.

Now after two years of my retirement I am feeling pitty on myself of not having any saving for myself. My provident funds were utilised during construction of the house. My pensionary benefits like gaduity and commutation were utilised for payment of outstanding loans which I took for opening Motor parts business for my brothers, construction of house at native village and construction of my own house at Gola Road Danapur. Now I do not have any saving in terms of cash for my future requirement. However I am getting my monthly pension which is sufficient for me and my wife for routine requirement. In case I did not have this monthly pension, I was to be dependant on my sons or daughter for every personal needs. If childrens are not supportive then life will be miserable in the old age. We all must try to avoid this siuation.

It is unfortunate to say that ones savior to own brothers goes invein when you are not in a position to bestow your earning to them. I have bitter experience with regards to this matter. Instead of providing me a little well manner and confortable environment for my peaceful retirement life my own brothers have dragged me to Civil court Danapur (Patna) for their share in my self acquired property. Hence I pledge and urgue to every person on this earth to have sufficient saving for yourself to avoid sorrows and misery at old age.

Why to have a Life Insurance?

While serving in the Indian Air Force for 39 years, I never realized to have a life insurance policy for myself or my family members. I was getting my salary every month on time and almost all the basic requirement of my family was met with the petty amount I used to get and send home through Indian Post. During intial times of the Indian Air Force Service, there were a lot of responsibilities on a small boy of 18 years because I had to look after the expenditure of my parents and my uncle, who was a tuberculosis patient, surviving on regular medicines. My younger brothers were studying in primary school at my native village and their schooling expenditure was too borne by me. A lower middle class family of six members was totally dependant on a young air warrior who was the sole cash earning person in the family. I was feeling great to serve my family members and could provide all possible assistance to them. Then I was a cheerful person having all around satisfaction.

I had retired from Indian Air Force in Apr 2016 with a lot of applause and laurrel, having Presidential awards of Honourary Commission of Flight Lieutenant Rank. In the very next month I went to attend a marriage of my cousin sister’s daughter. my neice by relation in my native village area (Distt- Rohtas). There I met a widow whom I knew from my childhood. She recognized me and called me by my name. Unfortunately I could not recognize her till she revealed her identity. She commented adversely that I have become a big person so I could not recognise her. However it was not the actual reason. She had become very weak and sick having lost all the charms of her face. I had seen her when she was about 18 years old. She was almost ten years younger to me but in the personal appearance she was looking much elder to me. I suddenly questioned, what happened?. She started crying and narrated story of her husband’s death in train accident.

After conclusion of marriage functions I went to her village where I used to go a number of times from my childhood. She was having two young children (a son and a daughter) of about 12 and 15 years. There was no source of income except a small landed property which her inlaws gave her as her share. A small old ancestral kacha khaprail house of one room and a kitchen which were in the very bad condition, surely they were going to collaps in next rainy season. I asked her how can I help you? She cried and told me Bhaiya he (her husband) had taken an Insurance policy of Two Lakhs, just two years ago before his death. She gave me the bond paper. I was not having any idea what to do with the bond paper. I took it to my home at Gola Road, Danapur (Patna). Next day I went to LIC Office at Exhibition Road, Patna. At the enquiry counter I came to know that two yearly premiums of Rs. 6,250/- has been paid. If nominee of the policy wish to claim the Insurance as death claim it will be “an early claim” and some of the specific documents like death certificate, reason for death, affidavit, claim form with signature of two witnesses etc will be required. I decided myself to complete all these required formalities and help the poor lady.

Next day I went back to Sasaram by Intercity train and then to the ladies village with all the required forms. I filled up all the forms taking verbal information, voter ID and Adhar Card. Next day I went to LIC branch Sasaram with a local LIC agent and submitted the claim. I had a discussion with LIC branch manager of Sasaram and he assured me to provide all possible help within the existing regulations. He also asued me that since death claim has been submitted late (after two years of death), it will take some time in payment. I took mobile number of the branch manager to have regular feed back for early processing of that death claim. I came back to my home and waited for 15 days. Thereafter I called LIC branch manager at Sasaram and he informed me that the Claim has been sent by post to LIC Patna- 2 branch for approval. Nextday I went to LIC Patna- 2 brach for enquiry. There I was informed that “an early death laim” has been submmited after two years so it has become timebarred. Hence it will require approval of higher LIC officials. I then asked what to do now. A LIC staff suggested me to meet Zonal Manager, if you want settlement of the claim at the earliest. I did that and LIC higher officials were kind anough to consider the claim. After verification and carrying out an independant survey of the death case, the claim was approved within three months. The brieved lady (nominee of the insurer) got a cheque of Rs. 4,07,850 (Rupees four Lakhs eight hundred fifty) from LIC of India on 28 Jul 2016 as an ac cidental death cover. However the amount was not sufficient to meet her all requirement but with the amount she was able to built two small Rooms, a kitchen and boundary wall for the house. She purchased a sewing machine for her professional work for which she was trained. She also got admission of her children in a primary school. Now she is living happily at her home with her children. LIC of India and me got a lot of blessing from the lady.

LIC of India could not make her rich but provided her a better life above poverty level. It stopped her to remain poor. Her children got admitted to better school and she had her own house for life time. On payment of Rs. 6,250/- by her husband in two instalments, LIC of india paid her Rs. 4,07,850/-. How Great? I salute LIC of India.