I have been bursting crackers now for a few decades and obviously have some ‘cracker’ wounds, but nothing serious. About 3 years back my daughter’s teacher told her “when you go to burst crackers you should carry a bucket of water…just in case…” So in the first year my daughter carried water on the first day of cracker bursting. Luckily we did not use the water…just poured it in the plants. On the second day my daughter asked me..”yesterday nothing happened, should I carry it today?”. I did not answer. She herself said “Yesterday it did not happen …but today it might happen….” so we carried water for all the four days. Far far away in Bangalore my brother in law’s daughter got hurt during diwali…her palms got stuck to a bursting cracker…and she went all the way to the 9th floor till she accessed water. My daughter quickly said “If she had carried…”. I explained that risk cover has to be taken before the transaction starts, it cannot be done AFTER the incident – then the premium is equal to the loss! Now my daughter carries a bucket…as a habit. This year one girl who put her foot on a piece of a cracker used the water…Ok the story is over. The learnings? You need term insurance if you have any dependants – in the office or in the house. Office policies are called Employer-Employee and Keyman Insurance. Do not stop paying premium because you did not die last year. That is being absolutely stupid. The pail of water was not meant to be used every day that you carried it. In fact my daughter did not use it even once. My niece needed it and did not have it. You cannot reach a parachute AFTER the engine trouble starts. You take it when the journey starts. Do not be foolish.