5 Excuses you tell yourself to avoid getting Insurance

Posted 18 September, 2016 by Surely
in Pitfalls to Avoid


From the good old classic, “the dog ate my homework”.
To the head scratching ones such as “News of the defective trains could have caused undue panic”
People have been employing excuses for centuries.


“I had an allergic reaction.” - Charlie Sheen after wrecking his hotel room

“I had an allergic reaction.” – Charlie Sheen after wrecking his hotel room


All of us are simply giving excuses so as to get away from doing the things we dislike.
Unfortunately, the things we hate doing may just be the thing we need the most.

Eating healthy food.
Buying Insurance.

What are some of these untruths that we have been saying about insurance?
Let’s uncover them.
Hang on tight ‘cuz we are going to give you some uncomfortable truth.


It is bad luck.


Superstition is the first one off the bat.
Being a conservative Asian society, bad luck is everywhere.

Getting hit by a broom.
Walking under hanging undergarments.
Sweeping the floor during CNY.

Deep down inside, we know that these are rather silly.
We even chided our parents when they tried to warn us about it.
It is illogical for a scientific mind like us.
At the same time, we use it as a clutch not to buy insurance.


Brian, the expert in bad luck

Brian, the expert authority in bad luck


In truth, insurance is correlated with bad luck.
Except that, it deals with the consequences.

Fracture your leg when you slip?
It is definitely bad luck but your hospital insurance pays your bills.
Disability insurance will help you to replace your income while recovering.

Do you still think it is bad luck to get insurance?
Your bad luck will get worse if you do not have insurance.


I do not trust the insurance company.


One excuse that my own grandparent used  was that the insurance companies would be cursing you to die when you bought a policy.
He was always ranting about it whenever we talked to him about insurance.

His pet peeve?
Insurance cheats people.
He would like to show us the cases on Wanbao where people did not receive compensation.

Even though I struggled to read the article due to my less than perfect attendances for my Chinese lessons, it was clear that he misread it.
The  protagonist would have done something to breach the policy such as drink-driving for a motor policy or misrepresenting a fact. .

Insurance companies like you to live as long as you can.
In fact, they make a loss if the Insured person passes away shortly after the start of policy.
They prefer that you continue paying your premiums so that they may earn from it.

In addition, they are not able to avoid the policies easily.
It is misunderstood that the insurers do not pay claims.
In fact, they did pay a total of S$5.97 billion to policyholders and beneficiaries in 2015.

How big is the claim department of a typical insurance company?

Limited in size because the claim department is considered as a cost centre.


Don't worry. Some of them may be sleeping.

Don’t worry. Some of them may be sleeping.


Thus, the insurance companies are only going to investigate the dodgy ones.
If you have been exercising honesty in your interaction with the insurance representatives, you are going to be getting your insurance payout.


I am not getting a good rate of return.


People always lament that they do not get a good return from their insurance policies.
It is a mistaken notion that insurance is actually investment.
It is not!

You are not to be blamed for thinking otherwise.
Look at the products that insurance companies and financial advisers are peddling.
Investment-linked and endowment policies are often sold at the expense of Whole Life and Term plans.

You need to wake up to the reality that insurance policies are meant to protect, and not as a tool to grow your money.
This is something a good financial adviser will tell you.
He will offer you better investment products option if you are looking to grow your money.


A good adviser plans for your interest.

A good adviser plans for your interest, not his/her.


Look past the returns and you may realize the truth about insurance.
It is about protecting the people and things that you love and value.


I cannot afford insurance.


One of the most popular excuses.
After paying off the bills, you do not have much left to buy insurance.
Insurance is so costly after all.

Totally debunked and shredded.
If you can afford a caramel latte at Starbucks, you can afford insurance.


I do not know if it is the best deal.


We are a kiasu bunch after all.
The discounted aisle at the supermarket – my personal favourite.
Comex? Let’s go.


No sir, I am not paying for your delivery charges

No sir, I am not paying for your delivery charges


Being a Singaporean means about getting the best deal.
Although prices are good indicators of value, we are looking for the most value with the least money spent.

However you do not know if you are getting that when you are consulting with a financial adviser.
After all, his best deal is not going to be your best deal.
How are you going to find out if he is giving you good value on his recommendation.

Thankfully, that is where we come in.
Come compare the prices.
Go on and protect yourself at a good value.

We believe that that there are a good number of good financial adviser out there that will place your interest above theirs.
If you do not know one, let us know and we shall assist you.


Ending the excuses


No more hiding behind these invalid reasons.
You have to get right things done, regardless of how unpleasant it may be.
It applies to your daily life too.

Next time, you hear one of these from your family and friends, be sure to share this with them.
After all. insurance is simply too important to procrastinate over.

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. usws

    Is not expecting to be able to pay insurance (i.e. because i intend to do something without a stable income or something along those lines) a legit reason?

    1. Clearly

      It could well be the most compelling reason to get insurance. You are already facing so much uncertainty, why place yourself in extra risk?

      Insurance is far cheaper than most of us care to admit (because there goes a wonderful reason not to buy it), and costs less than a cup of coffee a day.

      However, you do not have to justify yourself to us (or to anyone for that matter). What we aim to do is just to highlight the potential consequence of your actions – you have to make the decision to take action (or not)


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