Most people tend to avoid the insurance conversation if they can. In fact, a substantial percentage of insurance policies are bought either due to a state law requiring it, or a bank asking for it.
Only a few are able to consider the value insurance can add to a person’s financial wellbeing.
Let us take a moment and shift our mindset. Imagine an insurance policy as a safety net lying underneath us, now think, what would happen if you lived without your safety net, are you ready for a hard fall? What is your plan? Do you even have one?
An insurance policy is a transaction you enter into to alleviate the hard fall of carrying your own financial risk, or being your own insurance company, by transferring such risk to an entity that can reimburse you in the case of a financial loss.
Insuring a half a million-dollar property with a 200 dollars a month premium is the best investment you will ever make, bar none. If a loss occurs, no other investment will ever give such a rate of return on your premium, and if a loss does not occur, well, it’s called Peace of Mind, and its priceless.
So the next time you are considering buying a policy on yourself, or an asset you own, shift your mindset from being hung on the premium you are so worried you will have to pay, and think of the Peace of Mind you will have knowing that what matters most to you and your loved ones, is now protected.