Monday, February 16, 2009

Is your life insurance adequate?

Few days ago I handed a critical sickness claim cheque to Ong, who was recently diagnosed with liver cancer. Ong is a food stall owner whom I have known for many years. He is a typical Chinese man who doesn't believe in life insurance. Four years ago I forced him to effect a medical life cover with a minimum cost. He was boastful to claim he didn't need insurance but I knew he was stingy with the premium. When I handed this small payment claim to him, he looked at my face and said..."The cheque is too little to pay my medical expenses. I should have listen to you Robert".

Through my many years of experience, the one who did not buy life insurance would suffer more financially when he was dead or severely sick. Those who effected their insurances reluctantly with a minimum cover might also face the same fate like the above. Not those who believe in life insurance because they planned their protection accordingly. The funny thing is...I have not encountered a sizable death or sickness claim but rather were those who bought the smaller plans. My logic is, those who believe in life insurance tend to be strong minded, positive and always have the piece of mind with them. They are the one who seldom take risks and are responsible people in nature. They live a more healthier and stress free life. However those who are stingy, calculative and sceptical, are more weak minded, negative and irresponsible in character. In the long run, they live a less healthier life when their mind is not peaceful.

Life insurance offers protection and creates a sense of pride and security. "Buy it when you don't need it because when you need it, you cannot buy".

1 comment:

Anonymous said...

It is always advisable to buy a life insurance as at times in life it is not possible to stay away from the losses. Insurance plays a significant role in sharing the risks of people in an reasonable form. It helps the people to speedily recover from damages and losses.