Be Prepared

Got a call today, one of my clients buzzed me to tell me that his young son had an accident, and required multiple stitches.

"Can I claim from my insurance or not har?", he asked.

I replied, "I remembered that you did not want to get your children's accident policies from me, which I had proposed the last time I met you, saying that it's not really a necessity right now.

Have you or your wife bought accident plans?"

"Oh... No... ", came a sheepish, disappointed answer.

"My friend, you do need to consider it, especially if you have young children, and they are very active.", I consoled.

This is a common call for me, being in my line of work. There are people who do not see the importance of an insurance, especially a simple, low-cost accident plan, and they put of getting it as they see this as an additional cost, saying "oh I will be careful, this will not happen to me" and regret it later.

People buy umbrellas, and carry them around in case of rainy days (like our current freaky weather). But unfortunately, people do not manage risks, rather, they choose what I would call a "self-assurance", where one feels that they have enough to pay for what ever medical bills they will have, IF it anything happen to them.

I'm not selling online, or exaggerating the importance, but since I've started studying for the insurance exams last year before I can get my license, and it has opened my eyes to a lot of things. I started to be more aware and careful with my finances, in case anything DO happen to me. I always tell people that I'm worth more dead than alive!

Yes, the mortgage insurance will cover my matrimonial home. How about my final expenses? Final expenses means the funeral expenses, etc. I want to be cremated, and have my ashes thrown into the sea. Maybe let me disperse with the winds in Santorini, Greece. Having a "slot" just to place an urn is cost. Having a simple funeral is cost too. Sigh. Although my parents do not need my money, but I do believe in filial piety, and want to repay my parents for all the years of upbringing (expensive upbringing, in fact).

Insurance is something which one should get when they don't need it, as when they do need it, they are not able to get.

My advice to all, be prepared. Manage your physical and financial risks, or get someone to do it for you. Do a financial review at least once a year, review your policies, and make a will.

Be prepared.