Gujarat’s senior citizens, whose children have flown the coop to different corners of the globe, no longer have to look to Mumbai or Delhi for a place in retirement homes or sharing a room in an Old Age home.
This west coast state of India is seeing many townships and residential colonies meant exclusively for senior citizens come up, allowing them to relocate and spend the sunset of their lives, without the bother of having to pay electricity bills, cook a meal, or searching for prompt medical care.
The first residential township meant exclusively for parents of non-resident Gujaratis (NRGs) is set to come up on an 18-acre campus at Khandhali on the Anand-Borsad highway. Similar apartments and colonies are also being planned in Vadodara, Bardoli and Valsad.
Neejanand, a township planned for Anand city has on offer luxurious independent unit accommodation for 100-couples. Currently, under construction, the township will be commissioned by December 2007, and will have an in-house medical centre, a temple, amphi-theatre, swimming pool, gym and host of other recreational facilities for entertaining seniors and helping them pass their time.
Bookings will be offered to pairings and couples, such as, husband-wife, two brothers, sisters or even friends. Interestingly, this township is being built not by any builder, but a retired bio-sciences professor Dr. Jyotindra Patel, who was inspired by the needs of the parents of a number of NRGs in USA, UK.
“Friends living in the US and UK, including those in India who have their children settled abroad, said there is a need for a place that promised senior citizens a dignified life and hassle-free community living," says Patel.
An increasing number of senior citizens with children abroad are moving into old age homes, amidst medical and security concerns. No doubt, townships of this kind are a welcome boon, a much-needed antidotal solution to aged parents left struggling on their own.
Already, in Vadodara, NGO United Way of Baroda is scouting for land to set up an exclusive senior citizens residential colony. “We conducted a survey that revealed a need for a residential colony that will offer hassle-free living for the aged," says Bindu Nair of UWB. Again, a self-sustaining unit, it will come complete with a temple and a hospital.
Sources among builders in Surat say a residential colony catering to the aged parents of NRGs, with an on-call ambulance is being planned for Bardoli, as well. In Valsad, yet another residential scheme is being planned on National Highway No. 8 that will also boast of a video-conferencing facility, enabling parents to speak to children settled abroad.
A pity, the search for better living standards has led to a breakdown in the fabric of Indian families. Luxuriating in the newfound material wealth of Western countries, selfish children discard aged parents, the same parents who sacrificed their todays’ for their children’s’ tomorrows. Stranded, left to fend for themselves by these self-same children, who could not have attained their present status without parental sacrifices, they are abandoned in the sunset years of their lives, least expecting to have to battle the harsh, lonely, worldwide struggle of the aged, on their own!
Insurance service provider companies always strive to find out new ways to settle down financial worries of people. In order to facilitate seniors a less burdensome old age, these insurance companies are offering variety of life settlement policies with great financial freedom. These policies have become very popular among seniors, who believe in planning every step to make the entire walk pleasant. They are moving towards life insurance service providers to meet their old age financial requirements. As a result of the earnest efforts of insurance service providers, seniors have managed to get an excellent opportunity to double their insurance benefits with bonded life settlement. This policy provides them a great way to fulfill their old-age financial requirements. It is a transferable policy and anytime the policy holder can sell it to someone who is interested in buying the existing policy.
Bonded life settlement policy allows a policy holder to re-examine every aspect of policy so that he may easily make a decision whether the policy is affordable or not. In any case, if the policy holder finds premium amount very expensive then anytime he can sell the policy to interested party. Bonded life settlement is advantageous for both parties as it provides them an excellent source of easy income. This entire process of ownership transfer goes on under supervision of insurance company. Hence, if you are bothered about authenticity and true cost evaluation then throw your worries aside because you will get true value of your policy. Moreover, you can also sell only a considerable portion of your policy so that you may keep a source of income for your financial emergency too.
The money that a bonded life settlement policyholder gets through sale of his or her policy can be used for any purpose, as there is no restriction regarding usage of insurance money. For you the process of selling a boded life insurance policy will be very simple as insurance company will be responsible to arrange every required term. The concerned insurance company fully supports the entire process and monitors every transaction till accomplishment of deal. By the time an investor becomes the owner of the policy, amount of interest on existing policy will be paid to the investor as he or she will be the latest owner of the policy. Moreover, the investor will be liable to pay remaining premiums after transfer of ownership.
As it is an official process, some terms and conditions are also incorporated with it, such as for selling a portion of policy, the expected life of the policy holder should be 36 month. It enables the policy holder to sell a considerable portion only and helps him or her in getting maximum value of the policy. Bonded life settlement is a smarter and instant way to arrange money to fulfill instant financial requirements. It has come as a rational source of money to all those seniors who believe in long-term financial planning to secure every aspect of life. Seniors, who are worried about settlement of their post retirement financial requirements, can get a sturdy source of income with bonded life settlement policy.
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