MAM
The ad trinity attends Goafest 2016
MUMBAI: A couple of a months ago, ad guru Prasoon Joshi pleasantly surprised the advertising fraternity by announcing McCann Worldgroup India’s presence at the 11th edition of Goafest, after three consecutive years of no show from the agency at the Creative Abbys. The agency sent symbolic token entries to honour the festival in all the categories and their delegates participated and attended the fest in large numbers.
Naturally anticipation was high to see if the other heavy metals in the industry like Ogilvy and Mather, Lowe Lintas and Leo Burnett, who had long refrained from attending the Creative Abbys, would also follow suit and rejoin the biggest celebration of Indian advertising under Ad club president Raj Nayak’s leadership.
Though the other two agencies didn’t participate at the Creative Abbys this year either, Goafest 2016 lived up to the anticipation to a certain extent as the top honchos of Ogilvy and Mather and Lowe Lintas graced the conference individually.
The second day of Goafest 2016 leadership summit saw an auditorium full of creatives and media honchos at the edge of their seats listening to Mullen Lowe Lintas chairman R Balki having a tete a tete with film maker Karan Johar on the stage.
When the curious audience couldn’t help but ask him — “What will it take to get Lowe Lintas back to Goafest? — Balki’s quick response was “Better ask Arun Iyer this question” before he gave a knowing smile.
“It’s not about returning to Goafest. Just like Karan is happy just making Hindi cinema, as an advertising agency, we are happy making campaigns that touch people. We are currently positioned in a way that we can say we are not ‘judged’ to be creative. I don’t think we will be back only because it works for us. We are positioned in a way that we can call ourselves good without recognition, we are doing good work given the credentials that come from clients. So when something like this is handed to us by default, it will be foolish to sort of give it away.”
It didn’t stop at that. The trinity was finally complete later that day when the advertising fraternity came together to felicitate O&M India creative director and executive chairman Piyush Pandey on receiving the Padma Shri award.
“We haven’t changed our stand. But, this invitation that has been extended to me pertains to my felicitation by the organisers for getting the Padma Shri this year. I have accepted it and feel honoured to be part of an industry show such as Goafest,” Pandey informed when asked about his presence at Goafest 2016.
The industry witnessed something similar when Prasoon Joshi was felicitated last year at the Goafest 2015. Given the indications, the industry is hopeful that the next edition of the advertising festival will see a full participation from all the industry heavy weights.
If you are actively investing to grow your money month after month, you already understand the value of planning ahead. SIPs, long-term portfolios, retirement planning and goal-based investing all point to one thing. You are building a future with intent.
What often gets missed in this process is one foundational question. How well is the income that funds all these plans protected?
Term life insurance fits naturally into this stage of financial planning. It does not compete with investments. It supports them by protecting the income that makes long-term growth possible.
Why Income Protection Is a Core Part of Financial Planning
Every financial plan begins with income. Before money is invested or saved, it is earned.
Over time, this income is allocated across multiple needs:
● monthly household expenses
● EMIs and long-term loans
● savings and emergency funds
● investments aimed at future goals
As responsibilities increase, financial planning becomes layered. Each layer assumes income continuity. Term life insurance exists to ensure that this structure does not become fragile due to overdependence on a single income source.
It adds stability to plans already in motion rather than introducing a new objective.
What does term life insurance do?
Term life insurance provides a fixed payout to your nominee if you pass away during the policy term. The purpose of this payout is practical and clearly defined.
It is intended to:
● replace lost income for a defined period
● help manage outstanding liabilities
● support ongoing household and goal-based expenses
There is no investment or savings component. This keeps the product focused and cost-efficient, allowing individuals to opt for meaningful coverage without diverting funds meant for growth-oriented investments.
Why Term Life Insurance Complements Investing?
Investments and insurance play different roles in a financial plan.
Investments are designed to:
● grow wealth over time
● compound with consistency
● be adjusted as goals and risk appetite change
Term life insurance is designed to:
● provide financial continuity
● protect existing plans from disruption
● remain stable once put in place
Keeping these roles separate improves clarity. Investments are allowed to perform without being forced to double up as protection, while insurance quietly supports the overall structure.
Who Should Consider Term Life Insurance?
Term life insurance becomes relevant when financial planning extends beyond individual needs. This typically includes:
a) Working professionals
When income supports shared expenses or long-term plans, protection becomes essential.
b) Individuals with long-term liabilities
Home loans, education loans and other EMIs often extend over decades. Term insurance ensures these obligations remain manageable.
c) Parents planning future milestones
Education, healthcare and lifestyle goals require continuity over many years.
d) Early planners with rising incomes
Starting earlier allows coverage to align smoothly with career progression and evolving responsibilities.
How Much Coverage Should Be Considered?
Coverage should be guided by financial reality rather than affordability alone.
A well-rounded evaluation typically considers:
● number of years income needs to be replaced
● existing and future liabilities
● long-term goals already planned
● inflation and rising living costs
Many insurance companies offer options starting from 50 lakhs, 1 crore term insurance and higher. It allows individuals to choose coverage based on their income, liabilities and future plans.
How Term Life Insurance Fits Into a Long-Term Plan
Once set up, term life insurance does not demand frequent attention.
It does not require active monitoring, market tracking or performance reviews. Its role is structural rather than dynamic.
By ensuring financial continuity, it allows families to:
● stay aligned with long-term plans
● avoid rushed financial decisions
● focus on execution rather than damage control
When aligned correctly, term insurance strengthens the foundation on which investments, savings and retirement plans are built.
Choose the Right Insurance Partner
Once the need, coverage amount and role of term life insurance are clear, the final and most important step is choosing the right partner.
This decision should be based on:
● clarity and transparency in policy terms
● a strong claim settlement track record
● consistency in servicing and communication
● the ability to support long-term financial planning rather than just selling a product
Term life insurance is a long-term commitment. The partner you choose today will be the one your family relies on years down the line.
When protection is aligned with purpose and backed by a dependable insurer, term life insurance becomes a quiet but powerful part of a well-built financial plan.
