I don’t believe in buying Life Insurance. So what are my options?

Posted 3 June, 2019 by Clearly
in Just for Fun, Pitfalls to Avoid

Some people just don’t believe in Life Insurance. It’s incredulous to us, but there is a sizable population of them out there.

The notion of people not believing in proper financial risk management seems pretty far fetched in this day and age where the literacy rate is 97%, until we are reminded that there are people who believe in the flat earth theory and that the moon landings were a hoax.

Maybe some people just believe in doing things that hard way.


The best poster boy we know that embodies doing things the HARDEST way possible

Regardless, being the nice folk that we are, let us examine what options exist for people that stubbornly refuse to purchase life insurance. In descending order of seriousness, here are the options available:

1. Self Insure


Insurance 101: Insurance is the pooling of risk, such that when disaster strikes a small subset of the population, they receive financial compensation for the disaster. Everyone pays a small amount to participate in that pool.

For a person who refuses to enter that pool (buy insurance), he or she can simply self insure. Meaning set aside a sum of money at regular intervals of time (say monthly), until something happens (say cancer). Then its time to break the piggy bank and use the savings for treatment.

Here’s a worked example on how this is executed.

John hates all agents with a vengeance and decides to self insure for cancer. He sets aside $400 dollars a month to use for medical fees if he gets bad news from an oncologist.

To achieve a payout sum of $400,000, he needs to save for 1000 months (83 years) and ensure he does not contract cancer during that period.


This concludes month 16! How many more months to go?

The alternative is of course just to purchase cancer insurance, which works out to around $600 a year, depending on which insurer provides the quote. But hey, let’s just do things the hard way!

What else is possible?


2. Risk it


If setting aside a sum of money that needs to be locked up for eternity does not appeal to you, then the next most viable alternative is just to YOLO it. And since there are two ways of interpreting YOLO, we mean the more irresponsible way (You only live once, so heck it!)

In stark contrast, the responsible interpretation of YOLO is: You only live one, so better do it right! We don’t refer to this interpretation here.

Our same protagonist John can also just throw caution to the wind and live his life as if nothing unexpected would ever happen to him.


After all, life is all about sunshine, bubbles and flowers. At least on insta anyway

Except that cancer is already the leading cause of death in Singapore, contributing to 29.7% of deaths in 2015. (Source here)

How’s Russian Roulette with one bullet in a 3 chamber pistol sound?

Which brings us to our last option.

3. Hope and Pray


This is self-explanatory. While John is praying for the avoidance of cancer, he should also pray for the avoidance of:

– 35 other critical illnesses
– Workplace mishaps resulting in loss of income
– Premature death that might send his family into financial hardship
– Losing his luggage on that trip to Taiwan

The key is to adopt a good prayer position. Pay extra attention to the eyes, they need to be cast skywards

Easy peasy, really. Just secure the services of a sympathetic deity of choice.

Which ones of these options resonate with you?
Let us know in the comments below!

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.

For people that cannot recognize satire if it bit them on the leg, this article has been one of satire. (Duh.) If you haven’t done so already, get yourself properly covered by speaking with a trusted financial advisor. If you don’t know any, we can help hook you up with some of the great ones we know.

    1. Clearly *

      Thanks for pointing that out, Kenny!

      We threw in a deliberately simple error to check who amongst our readers are paying attention.

      You sir, are the winner 🙂

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