Protect Your Wealth Now.

In this issue, I am going to talk about insurance and how it contributes to building wealth.

The difference between rich people and poor people is they see things in a different way. The rich sees insurance as an instrument which protects their assets, whereas the poor sees it as a liability which they pay every month with no benefits.

Do you know insurance is the best instrument to pay for your estate duty without touching any of your money?

It is also the best asset you can give yourself when you are sick and disable, but the sad thing is many people buy insurance and they thought they have adequate protection until somethings happen to them and they realise whatever they had was just not enough.

So, how much is enough?

We all meet insurance agents selling us insurance policies after policies after policies. And end of the day, they still say we are not adequately covered. So how much is enough?

Our liability varies as we go through different stages of our life. If you are 20+ just married, you have to take covered yourself just enough to cover home loans, debts as well as your contribution to parents till they fly back to heaven.

Yes, i know its a lot, and this is only if you drop death immediately. What about if you are disable? You would easily need to doubled up your insurance if you do not want to burden your family members.

And remember we have this thing call major illness. This is the number one killer, not because people are unable to survive from it, but because people have no money to survive so they rather die, at least it eases the burden from the family mamber.

So, how much you need depends on individual and nowadays the government has make insurance plan a tailor make plan. Meaning, all plans can be tailor to suit your needs based on what you have. : )

And getting insurance is the number 1 thing you should do before thinking of how to multiple wealth.

Remember we do not want all the assets we have created become the payment for the unexpected circumstances. Its just not worth it!