Insurance role

Taken from Straits Times Singapore, 27 Dec 2011.

I have said this before, everyone can benefit from insurance. Does not matter in which income category you are. Insurance can also play a part in everybody financial porfolio.

To me, if you are low to middle income earner, you MUST have insurance! It is a MUST. If you are able to fulfill your basic necessities from your salary and still able to save some money, please use a portion to buy insurance. Why? because it will help you to give financial security to yourself and your loved ones. With such a small premium, you instantly get huge amount of money that will cover you in case somethings happen.

Of course if you are struggling to fulfill your basic necessities such as food, kids school fee, house rent payment, etc. You can forget insurance for the time being, because your immediate needs are much more important. Hey, you got to eat right?

Then if you are in the high income category, you still can enjoy the benefit of insurance. Of course we will protect your money and most of all, its about providing more to yourself and your family. Who does not want to give more to their loved ones?

Have a look at the article above. You will see that this investment chief executive really plan his finances properly. I can safely say that he does not need insurance. He got so much investments, from shares to properties all over the world. He makes a lot of profit from buying and selling properties, and on top of that still having 10 to 20 percent return on his investments every year. Can you imagine how much money he has? I can assure you he can pay his own hospital bills if he sick, he can afford to stop working if he is disabled or critically ill and he still have enough money to take care of his family as well.

So why does he still has insurance? US$2 million to be exact.

It is because we really never ever know exactly our future. Tragedy and unexpected event can happen suddenly. So he wants to make sure that he can provide even more to him self and his family, in case something happens. He love his family. He does not mind spending money for insurance, because he knows. He is investment chief! He know that the premium is nothing compared to the coverage that he got.

If you see a man like that, with that financial background, that you think he does not need insurance. Yet he still have it. What does it say to you?

Simply, you must have it as well.


Cheers! Have a great day.