Now, my work involves in seeing a lot of people, to advise them so that they are in a better place financially. But every now and then, I get to see people who cannot see or cannot accept that insurance planning is one of the most important tool in financial planning.
Risk management to me is the most fundamental in everyone's planning. But sadly, not many people can see that.
Everyone actually knows how important insurance is, but because they think all the unfortunate events will not happen to them, they put insurance as the least importance in their priorities.
Funny thing is if I give them this question, everyone's answer is the same.
"If you have a money making machine at home that will give you money everyday and will keep increasing in value year after year and give you and your family more money, will you insure/protect it as best as you can?"
EVERYBODY answer YES! It's because they want to make sure that the machine can keep working and give them money everyday. They do not want the machine to stop working and if it brake downs, they want to make sure that the insurance will continue give them money while the machine is being fixed.
Now many of these people forget that the machine is actually themselves. They are the one that make money everyday and keep increasing in value everyday. But the difference is, they forget or they do not want to insure themselves because they think nothing bad can happen to them. Sorry to say, the facts are different than what you think.
It does not matter what you think, bad things happen everyday. Just open the news and you can see it.
So be true to yourselves. You know that many of you need it. When I ask you if you want to insure the machine, you said yes. Then why don't you insure yourselves? I think you are worth far more than that machine.
Cheers! Have a great day.
