Hey guys! Bryan here.
Auto insurance…. Health insurance….. Life insurance….
Is insurance important?
I was browsing on social media a few days ago, and I saw a post about someone feeling really terrible because a loved one passed away . Apparently, that person was also the family’s breadwinner. And for some reason, the breadwinner didn’t have any life insurance policy.
The Merriam Webster dictionary defines “insurance” as “A means of guaranteeing protection or safety”.
Sadly, most people don’t take enough steps to protect themselves.
Not because they don’t want to (after all, who wouldn’t want to be protected, right? ) ; but more because they don’t know HOW or WHY insurance is important…
Think about it:
Why do people who buy cars, buy insurance for it?
Or when you get that brand-spanking-new iPhone or Note 8 that you’ve been saving up for, for the past several months; you immediately buy a nice, fashionable case to go with it; together with a sturdy sheet of tempered glass for the screen, right?
We want to protect the things that matter to us, that’s why.
If we spend top dollar on protection for things we acquire; it just makes sense to provide the same level of coverage to the most important asset we have—Our own self.
That’s where health, life and disability insurances come in handy.
Listen: I am not saying that you purchase all three of them; after all, if you could afford all three, you might very well have enough funds to cover for your loved ones’ needs if something would happen to you. I’m just saying.
For most of us who need a job to earn a living and support a family, at least have Life Insurance coverage.
You see, insurance is something we purchase to shield us—and our family; to a certain extent—against the inevitable (accidents, death), in the event that it happens at the most inconvenient time.
This is especially true for the vast majority of us who work our nine-to-fives to put food on the table and save some cash for the future of our children and for our retirement.
I can only imagine how that family feels knowing that the person they depended on to fend for them has passed away, leaving them with nothing to get through their daily expenses or tuition, to name a few.
Funny thing about insurance is that you never know when you’ll be needing it; hence, it would be wise to get one as part of our personal financial plan as early as financially possible.
Yes, getting it is quite costly and will take a substantial bite from one’s budget; but there is a decent amount of options that an average working individual can consider.
In the Philippines; for less than you would spend for a cup of black coffee at Starbucks every day; you can be covered by life insurance that’s bundled with an investment fund for greater returns…
I should know…because I have one myself.
Just shop around, do some research. A good number of reputable companies are out there that offer good coverage.
Don’t be afraid to talk to a financial adviser (that’s what insurance brokers are called these days ).
I am not in the insurance business; thus, speaking to a professional is really important.
Only then can you find out which type of coverage suits your lifestyle and budget best.
So, until such time that you can put a case on yourself like that of our cellphones, and cover ourselves with tempered glass; getting a policy is a must.
The cost of not having it outweighs the cost you pay for it.
Let me know what you think. I value your thoughts and feedback.
Also, if you have any questions, feel free to send me an email or post it on the comments below.
To my readers in the Philippines; should you be unsure about whom to talk to about insurance policies; send me an email and I will endorse you to someone I know and trust.