Expect the Unexpected in Life: An Insurance Blog

Hey everyone! I'm going to switch gears on ya from managing your money to protecting your family and your income with insurance. The common misconception about insurance is that insurance companies will try to screw you while taking your money and laughing all the way to the bank. This isn't the case, it really is about giving you the opportunity to plan for anything unexpected that could happen in your life.

What does it mean too expect the unexpected anyway? Well there are already things you do on a day to day basis where you know to expect the unexpected.

Defensive driving - you took driver training to reduce your insurance premiums on your car. The reason they can reduce the cost of your premium is you enhanved your ability to expect that something unexpected can happen to you on the road. You have better tools to deal with uncertainty and the lack of control you have over other peoples driving. You are expecting the unexpected.

Sports - you have safety equipment like a helmet, mouthguard, pads etc. These all ensure that if something were to happen to you that you didn't expect, it minimizes your risk to injury. By wearing protective equipment you are expecting that the unexpected could happen to you.

Sun block - its your insurance against skin cancer isn't it? You wear it so you don't get a burn too, but the main reason is fear of cancer. You are expecting that it really could happen to you, so why not prevent it from happening?

So why when it comes to death or disability to people fail to expect them to happen? It's a well known fact that 100% of people die and 1 in 3 will also suffer from a disability of longer than 3 months.

Does your family or partner depend on your income? If you suddenly die what would they do? Your debt doesn't magically disappear. They have to deal with it. On top of that they'd have a significant drop in the amount of income available to live on. Is that how you'd like to leave the people you love most in the world. For their sake you have to expect the.expected.

Now what about you? Do you depend on your income? I do! It's unfortunate to say but most things in life cost money. If you got in a car accident and were stuck in a hospital bed for 3 to 6 months would you really want to have to worry about how the bills are going to get paid? If you expect that the unexpected can happen to you and it does then you'll be very grateful that you planned ahead.

What happens if nothing happens to you, well even better! You get to live life with no regrets and you get the satisfaction of knowing that the money you've paid for insurance went to someone who was less fortunate than you!

Insurance really isn't bad or evil and in my mind is completely necessary when planning your finances.

Thanks again for reading guys!

Mike