Studying for my insurance license has made me realize how much I really didn’t know about company benefits, life and disability insurance, all the way to critical illness and long term disability. Like most, I thought I knew what I was covered for; however, there are so many limitations that you have to familiarize yourself with as to not be surprised when the time comes for you or a loved one to make a claim. The more people I speak with the more I realize they have no clue either. Because this hits home for me, as my mother fell ill with cancer and then finding out that she didn’t have any disability or critical illness coverage, but I’ll share that with you in later posts. My ultimate goal and where I am most in my element, moving forward, is not to be that ‘greasy insurance ‘sales’ person’ but to really educate people while coaching them on how to protect their family, loved ones and estate. LIFE HAPPENS! We do not have crystal balls.
Learning more about this industry and sharing it with my network has presented real life stories of tragedies and noble planning. The ones that said they didn’t need it, or said that it wouldn’t happen to them are the ones that would have benefited from insurance the absolute most and of course they look back and hind sight is always 20/20. Although most may see this as another item stretching an already tight budget (and if your budget is already this tight then insurance is a must if you have nothing else to fall on), life insurance isn’t about the need for it NOW, it is about planning for unforeseen events and not leaving your family devastated as well as in debt. Let’s face it, partner or no partner, children or no children, coverage is needed for your estate and immediate family. When you leave, someone has to take over for your material life and it would be a shame to leave that with a family member or partner who may not be able to and then putting them in a financial crisis.
Life and disability insurance is a safety net, a financial safety net. If you don’t think you need it I bet you can look back at a time where a family member, a friend or an acquaintance all of a sudden passed away or had a quick turn in their health leaving them or their partner stranded for income. I remember a friend of a friend who had a heart attack at 37; she was a yoga instructor, a vegetarian, didn’t drink, never smoked. Another example, my friend’s father who was in better shape than the rest of his pot belly, beer drinking friends, and he had a double heart bypass surgery at the early age of 62. Remember the 30 year old who was rollerblading and fell, hit his head on the cement and died even with the protection of a helmet. One of my friend’s mothers suddenly died in her sleep. Remember that even if you are covered at work you are not really ever fully covered. And once you leave, get fired or laid off, your benefits do not follow you and if you wait until you think you need it your premiums will be much higher as you get older.
Thank you so much for taking time to read this very important entry as I embark on a new journey, yet with the same passion for helping others. As it would be my great pleasure and honor, I hope that one day you will allow me to sit down with you and your family to go over your current policy to ensure that you are making educated and sound decisions on the protection of your future and loved ones. Many blessings! @RinaChong