Literally, insurance has a meaning as a guarantee or protection. It is true that insurance cannot stop the risks that may happen to you in the future. However, having an insurance, can help you reduce the impact of losses arising from existing risks.
When should I get insurance? If this question always comes on your mind, then the answer is: it must be as early as possible. Yes, the faster you get insurance, it means that you have anticipated potential losses that may arise from risks that are always lurking.
One of the most vulnerable risks to occur in everyone is health. No matter how strong your commitment is to maintain health, this risk can occur at any time. Even the fittest person could pose the same risk of getting any illnesses.
In addition, there is also the risk of accidents that can lead to disability and death. Accidents can come anytime and anywhere, even if you are only staying at home.
You can anticipate these risks with insurance. As a policyholder, you have the right to make claims for losses caused by the risks when it arises.
Then what happen if you delay getting an insurance? The following are things that might happen:
1. Your financial planning will be filled with uncertainty
Having an insurance will help you keep all financial planning running correctly. When there is a risk, such as an illness or accident that requires hospitalization, the insurance will cover the existing financing by the terms and conditions of the policy.
If you don't have insurance, predictably, you will cover the cost of hospitalization and treatment at the hospital by yourself. In the end, your financial planning becomes messy because there are funds that are used to cover the bills. What's terrible, the savings that you save can run out right away.
2. A delay in getting insurance coverage can lead to a loss in savings
Everyone certainly has dreams, whether it's wanting to own a house, build their own business, vacation abroad, or maybe a household. Of course you need to have funds to help you achieve your dreams.
All the dreams you have can disappear suddenly when a risk occurs. The funds that you should use to make your dreams come true are used to bear the losses caused by the risks that arise.
3. Having no insurance coverage can affect your work
Possible risks can provide surprises that not only mess up your financial planning but also interfere with your focus on work. You will always be haunted by anxiety and worry about the losses from the risks that arise.
With insurance, you can focus on developing yourself in the field that you are currently in. Financial risks from various events can be anticipated with insurance to exert all your energy and thoughts for what you are doing.
4. Having no Insurance coverage can lead to financial debt
You never know how much financial loss will arises from a life risk. Relying on emergency funds to cover these losses can cause financial woes.
What happens if the funds are not enough? This insufficiency can get you closer to debt bondage. It's different if you have insurance because the risk of financial loss has been diverted, so you don't need to go into debt to cover that risk.
5. Your family may end up with your debt burden with no insurance coverage
No one knows your age, but what you have prepared for your family or the next generation can help them stay alive after you die. Especially if you are the breadwinner in the family.
Instead of leaving a legacy, you leave a debt burden and installments on your family. In the end, the family burdens increased after your departure.
So, that's why you shouldn't delay getting insurance because anything can happen, both now and in the future. Life risks are detrimental not only to your finances but also to your family. From now on, don't delay and plan your financial planning right away, you can reach out to our financial advisor here to find out about our insurance products now