Before you reject a proposal from an Insurance agent please ask yourself this few question.
If I am admitted in the hospital due to critical illness , who can give me instantly rm200k?
If serious accident happen to me, who will help and take care of my family, put food on the table, pay the car loan, house loan and my children education ? If I am out of the hospital and I can not continue to work, who can give me rm500k for my family daily expenses until I am fully recovered and able to work?
Of course there are those who is very wealthy, those who are cash rich and have a lot of asset. Before you reject an insurance proposal please ask yourself these questions.
What happens when you fall ill ?
If critical illness happens to you, and you seek the best treatment you can find, do you prefer to take money from your bank, sell of your asset, reduce your net worth or let some one else pay for your medical and recovery bill ? Bill Gates once said “Medical insurance has the best leverage, you pay a small sum of money and get a huge protection instantly”
If accident happen to me and I am not more around, will me wife, my children, my parents and my sibling fight over my asset and end up suing each other in the court ?
When some one propose you an insurance policy you rejected it , but when critical illness and death comes knocking at your door, who can you turn to ? Your spouse ? Your children ?
Once a wealth planner proposed an insurance policy to Dale Carnegie he rejected and say “ the premium is expensive”. Then the wealth planner says” Base on my experience, most of the im people will say the premium is expensive, but I never heard widow’s who lost their husbands complaint the premium is expensive” Dale Carnegie took up the policy once the understand the meaning behind it. He clearly understand that although insurance policies could no change his life, but it can prevent his and his family future from being change due to unforeseen circumstances.
No matter you are rich or poor, what car you drive, which city you stay in, how big is your house,
how many times you exercise a week, accident is prone to happen. It can happen anywhere, anytime. You can not prevent it, but you can greatly reduce the financial damage being done to you and your family .
Everyone needs insurance, for the poor it is life saving, for the middle income group it is proper financial planning , for the rich is the best way to secure your wealth.