Discover Discuss Compare Blog About Us

My love for Insurance

Posted 31 July, 2016 by Surely
in Opinion

 

Insurance.
Do you love or dislike it?

Chances are that most of you will express the latter.
Come on, don’t be shy.
Even my buddy Clearly has stated his hatred for insurance.

Not for me.
I love insurance.
And it is love at first sight.

 

Not like the first time I met my wife. Don't tell her about it !

Not like the first time I met my wife. Don’t tell her about it !

 

The Beginning

 

I did not seek employment immediately after graduation.
There were more pertinent things than a job.
It was the World Cup season.

 

Watching my hero play is another love.

You can work daily but World Cup comes only once every 4 years.

 

A friend of mine asked me to accompany him to a Management Trainee at an insurance company.
Since it does not interfere with my soccer-watching schedule, I agreed.
That first date with the insurance firm went well.
I got my maiden job.

Over the next few months, I learned a lot about both life and general insurance.
While my fellow batch-mates complained about the boredom of the topics, I secretly enjoyed the classes.
I was fascinated by the whole financial assurance concept.

That was more than10 years ago.
And I am still loving it !

 

A promise to do good

 

When one think of the word ‘contract’, the images that immediately pop up in your mind are probably unsavory.
Two greasy old businessmen trying to get the best terms for themselves?

 

Insurance is not an empty promise. SDIC made sure of that.

Insurance is not an empty promise. SDIC made sure of that.

 

When you pay your premium and sign the insurance contract, the insurance company promises to compensate you or your beneficiary when an agreed event occurs.
The event may be death, critical illness, disability, etc.

It gives you the assurance that the recipient gets all your intended love.
Insurance provides financial support when you are no longer available for your loved ones.
It promises to pay for your medical bills so that you can have a second lease of life.

Insurance will always help you and at no time, destroy you.
To me, it is pure goodness.
It is impossible for me to dislike that.

 

Affordable protection for your family

 

My parents do not have an easy time bringing me up.
We may not exactly poor but definitely less than average.
Thus, I just want to make sure that my parents are provided for if I am not around.

A fresh graduate cannot save enough quickly during the early stages of his career to ensure that.
I was fortunate enough to find myself in this line as I quickly found the solution.
A cheap term insurance assuaged my worries tremendously.

Without insurance, it is not possible to provide this protection to my parents.
You may think it is ridiculous for a 20+ year old to fuss over his mortality.
It is statistically improbable.

Low crime does not mean no crime.
When the improbable unfortunate event does occur, I do not want my aged parents to collect cardboards for either livelihood or exercise.

 

Forget California Fitness. Get your workout anywhere with cardboards.

Forget California Fitness. Get your workout anywhere with cardboards.

 

A half-a-million term insurance for 23-year-old costs only $512.
If you save $1000 monthly, it will take you 42 years to have $500,000.

That is the power of insurance.
It gives you the ability to make the unaffordable affordable.

 

All round defense of insurance

 

Besides the usual life insurance, general insurance can also be part of your defense forces against the evil forces of nature.

Fire and home insurance protect your house.
Vehicle policies compensate for your car repairs when you are involved in an accident.
Even if you have to go abroad for work or leisure, you can have a peace of mind with a simple purchase of a travel insurance.

 

Protecting what you really love.

Protecting what you really love.

 

Basically, insurance is a risk transfer tool.
Instead of shouldering all these financial risks, you may lessen your burden with insurance.
For a risk-averse person like me, it is a perfect tool to deal with life’s worst disasters.

 

Future planning made possible.

 

Do you save money for your future goals?
If you do, you got to protect your savings.

You may want to save for your dream wedding.
Or a home of your own.

Buying car?
Even robbing a bank nowadays does not give you enough for COE.
You have to set aside enough to make your future ambitions possible.

 

Dude, not cool. Not enough to even buy a piece of paper.

Dude, not cool. Not enough to even buy a piece of paper.

 

Along the way, you may find yourself in situations that will drain away your savings.
Sickness, accidents, damaged property may cause you to expend a large percentage of your hard-earned money.

Thankfully, for some of the life’s undesirable events, you can buy insurance for it.
Having sufficient coverage will allow you to plan for your future with more confidence, knowing that you can weather through life’s toughest situations.

 

Epilogue

 

Like any relationship, the love is tested by the daily grind.
Sometimes it is disappointing to discover that policies were being mis-sold.
Hearing about the losses are just heart-breaking.

You do not just give up on your love just because things get a little tough.
Take the good with the bad.
It is meaningful work after all.

 

Underwriting love every single day.

Underwriting love every single day.

 

It is a cliché to say this but insurance does empower us to help others.
Assisting them to fix up their home is great.
Lending a helping hand to continue their way of lives is wonderful.

At the end of the day, I am glad that I chose insurance and never left.
Are you feeling the same about your work?
Share it with us too!

www.ClearlySurely.com aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.

  1. STE

    Yah ,, insurance is like secret kongfu master recipe …know it , master it and get benefit from it,,, don’t understand it ,, will be fool by others, used by others to over paid for it !,,,,so make sure we understand it and not to underestimate it,,

    1. Surely

      Actually insurance is both complex and simple.

      Complex enough to require some time to understand.

      Yet not so difficult if you sit down and read. Especially for an educated nation like SG.

  2. Pingback: Not your usual tale of being mis-sold - Singapore's Life Insurance Blog: Expert and Unbiased Views

Leave a Reply