Saturday, August 02, 2008

What Is Risk Management ?

...And Why Do I Need It?

If you are like most successful people, you want money while
you plan for all the things that you want for you and your
family, and the money that you need to have because you want
your family to live life to the fullest.

If you really stopped to think about it,
you would want your family to live the good life -- even
if you were to be suddenly removed from the picture.

Wouldn't you!

Jokingly, you might say,
"Nuh...who cares, if I'm gone?"

But this is no joking matter. This is a very serious matter.
As you think about it you'll recognise it is so.

Now you might know people, friends who are in good jobs and highly respected positions. And some of them will tell you that you don't need life
and disability insurance. And since they are pretty well
off, you might even be inclined to think that they 'know
whereof they speak'.

The sad situation is this:

The vast majority of the population and certainly most
of the people with whom we associate, are really quite ignorant
of the facts about personal insurance. Most are either badly
misinformed, or plain uninformed.

In reality the person who, upon having advised a friend
or family member this way, and has, upon the friend's
death or disability,ponied up some cash to pay for the things
which that family needed to live, is so rare, as to be mythical!

Indeed. How many have you met till now?

Quite simply -

There is no way to replace your income
and create a certain and instant estate
other than through insurance

And yet every day, people unthinkingly take on a risk that a trained assessor
might turn down. They do it when they don't ge the cover they need,
and essentially,they commit to SELF INSURE.
If someone else isn't covering you
, then automatically, you are! So if that is the choice you want to make, then you need a strategy to cover that exposure.

Statistics range, but suggest that 90% of people have
either no insurance, or are dangerously underinsured.

In fact few people have enough money to pay for more
than their funeral and perhaps a year's living expenses
for the surviving family to support itself.

How long could you last without income now?

Good risk management, using the appropriate levels and
types of insurance is the only way to ensure that your
goals are automatically reached by your
family - no matter what.

In Designing your family's plan for a great life, it
needs to be backed with a guarantee to ensure the ability of
the plan to be attained, will happen...
No Matter What

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