The consequences

Hi everyone, it's been about 2 weeks from my last post. I have been busy. But I'm happy that I managed to help more people do their insurance planning and they are now in a better financial situation and most importantly, they have peace of mind.

I felt very grateful that I met people who really do love and care for their families. Not like some people who just talk but never plan. These people that I met, they DO IT, they PLAN, they don't just talk. They show their love to their families through action.

In life, things can happen unexpectedly. A lot of things is out of your control. An illness can strike anyone, whether you are healthy or not, young or old. An accident as well, it can strike anyone. If you don't believe me, just open the newspaper. Everyday I guarantee you will see news that you won't expect. For example, people walking on the pedestrian got hit by a car that is out of control, passenger in a taxi on the way to her home suddenly got hit by a Ferrari and died, a man died during soccer match, a young male athlete died after a marathon and so on and on and on.

That is why, never take your life for granted. By the grace of God, you are still here now in this world, alive.

My motto in life is "Always dream, expect and strive for the best BUT always prepare for the worst."

I can tell you that if people never prepare for the worst, the world is doomed.
Examples:
- People said they will never get sick. So we don't need to build hospital and train people to be a doctor. Can you imagine if suddenly you got sick or got accident and there is no hospital or doctor to help you?
- People said their home is safe, there is no robber or murderer. So we don't need police station and policemen. Can you imagine if suddenly you encounter a threat and no policeman to help you?
- People said there will be no fire striking homes or factories. So we don't need fire station and firemen. Can you imagine if your house suddenly got fire and there is no firemen to help you?

To me, people who don't prepare for the worst are just plain foolish and being ignorant.

It is the same for insurance, it's a tool to transfer your risks and prepare for the worst (especially for people who are low to middle income earners).

Can you imagine if you get sick and have no health insurance?
-You may be postponing going to the doctor.
-You may delay the treatment because you don't have enough money.
-Statistics have shown that people with no health insurance will die younger, simply because they cannot afford the treatment that they should get.
-Of course you may sell the house, sell the car, borrow from people, etc to raise money for treatment.
-Then you will become bankrupt.

Can you imagine what happen to your family if you are the breadwinner of the family and you passed away early and you have no life insurance?
-Your spouse will have to find work.
-Continue to pay all the existing debt (such as the house loan, car loan, etc).
-Your kids may have to be taken care by someone else, maybe the grandparents.
-Your spouse will lose the quality time with the kids.
-If your parents are also dependent on you, that means your spouse also have to keep providing for your parents.

Can you imagine if suddenly you cannot work due to disability or illness and you have no disability income insurance?
-You will lose your income.
-Your expenses will go up because you are disabled and you need a care taker to help you get around the house.
-Your spouse will have to find work.
-Your kids will need to be taken care of by the maids maybe.

Just imagine it. Feel it. What will your family think about you if you as the head of the family never plan? You will leave them with a lot of debts, hardships and financial troubles because you are suddenly not around to provide for them.


Be the person that you should be, a responsible person who truly care for your families. I know most of you have some sort of insurance, but come on, a $100k or $200k life insurance policy is not enough. You think that amount of money enough to provide for your family, enough to pay all the existing debt, enough to send your 2 kids to good universities, etc?

You should know that an average person who earn let say just $3500 a month will accumulate at least $3 million by the time he is age 65. That is your real worth! Your financial worth is not $100k or $200k, it's that $3 million! So plan properly!

I tend to ask my client, which one is easier, to pay a premium of let say $2,000 to get a $3 million life insurance or to find $3 million when something unexpected happen to you? To me, it's definitely easier to pay $2,000 now rather than finding $3 million when I or my family need it. What about you? Which one is easier for you at this time? 

Many times you will think paying $2,000 is hard, am I right? But if you think that is hard, try imagine how can you get $3 million when you really need it. I can guarantee you that it's damn sure harder than paying $2,000.


Cheers! Have a great day.