Why We Invested in Toffee Insurance

By Nilesh Agarwal

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I made my first financial decision at age 12. I bought a small recurring deposit from a commercial bank using my pocket money. The product seemed very simple and intuitive: I had to pay a fixed amount each month and at the end of the installments, I would get a higher amount than the total I contributed, because my money had earned interest. As a kid, the concept of savings was easy enough to grasp and, more importantly, it meant increasing my spending power the following year.

While savings were easily understood, insurance was more complicated. Throughout my younger years, I made rookie mistakes: I bought insurance for investment and tax savings and was pushed to get insurance products I did not need by agents, family friends, or bank managers — which left such a bad taste in my mouth that I went through a long phase of wanting nothing to do with insurance. It was only after three professional degrees in financial services and many years of experience that I bought my first true risk mitigation product, an online life insurance, when I was well past the age of thirty. …


Nilesh Agarwal

Co-Founder at येLo driving Financial Health of the Next Half Billion

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