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May 05, 2017

Which Insurance Policies Should You Buy?

Insurance - How much to buy

Quite often, we hear about the inadequacy along with the topic of ' insurance'. Let me introduce a story to understand this easily which caught my attention recently.

Quite often, we hear about the inadequacy along with the topic of ' insurance'. Let me introduce a story to understand this easily which caught my attention recently.

There were 2 travellers who were about to cross a desert. The journey was arduous, long and dangerous. They had equipped themselves sufficiently with good water, first aid and also guns to fight the dangerous animals in the desert.

They had quite a load to carry through this journey. As they were about to start they heard a voice from heaven “Son, carry sand in your pocket… and you will be very happy and very sad when you reach your destination. The 2 travellers were bewildered with this strange message, also they were carrying a lot of stuff and did not want to carry sand. However, since it was a voice from heaven they put some sand in their pockets.

After many days they finally reached the end of the desert and the sand turned into gold. They were surprised.

Like the voice said they were very happy that the sand turned into gold but sad they had not carried more sand !!!

This is exactly how Insurance works…it is like sand when you buy it with no apparent immediate value but like Gold when it impacts you…... you wish you had more.

It is a reality that there is a narrow line between the interest of brokers in selling more insurance policies and real need of customers to buy more insurances. Unfortunately, due to this thin line customers often perceive the suggestions of brokers as 'over selling' but in the event of a loss every customer will have something to learn from the above story by not taking decisions with endless procrastinating.

As a conclusion, I would like to re-iterate that a professional insurance broker is the 'right choice' for customers to review the risks associated to their life and business, take right decisions by buying adequate quantity of insurances and at the right time .

The priority of a customer centric broker is not 'over selling' insurance but convincing customers on the advantage of buying sufficient insurance over the risk of adverse financial impact on the life or business.

Let every insurance policy become 'gold' for our customers !!

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