Risk is generally defined as an injury to which you are more or less likely to be exposed; a danger. Protecting our clients from the effects of such a probability is part of a good practice in risk management. In terms of investments, for example, strategies are recommended to mitigate risks related to financial markets.
Our clients’ most important asset remains their health without which they can not work, get rich or simply enjoy the wealth they have accumulated; even at the risk of encroaching on them. Yet, too few of them are offered a protection plan vis-à-vis the risk of financial loss due to illness or injury.
Disability insurance, critical illness insurance and long term care insurance are very effective prevention tools. They allow the transfer of the risk of financial loss of the insured to the insurer in exchange for a premium. Of course, it is up to the client to decide whether the cost / benefit ratio is worth it.
We insure our material goods (car, house, boat ...) but what about our physical and mental ability to make a living. Shouldn’t this protection be at the top of our priorities!
Health insurance prepares you for unfortunate circumstances in life, allowing you to focus on what is most important to you and taking the worry out of your financial future. Be sure to include a review of living benefits when you review other types of insurance.
Looking for more information? Contact us for a copy of our education article: Insuring What Matters Most.