Assurance or Insurance – A Forgotten Friend

Many of the conversations in my working day include posing questions and presenting situations to deliberately challenge and reposition peoples thoughts. A client who has recently made a claim for payment for cover afforded to him by his insurance policy, was definitely happy I had done so in one of our earlier reviews …

The review was a result of him receiving his annual policy statement. The client was just seeking some reassurance that he understood the policy statement and the implications of the “Good News” booklet he had received with it from the product provider. He was a bit concerned about the purpose of the policy. To help with discussing his concern, I provided him a letter which caused him to raise an eyebrow and then share a laugh. (Download – the ”Letter from a Forgotten Friend” by clicking on the link).

Not even 6 months later while we were processing the paperwork to lodge his insurance claim, he told me of a lovely quote he’d once read … it was along the lines of “I don’t take out insurance because the insurance is worth it, I take out insurance because I’m worth it”.

I think thats a pretty good attitude to have. What do you think?

Where to from here?

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Disclosure / Disclaimer: Dan Smith and Plan 2 Prosper are authorised representatives of GWM Adviser Services Ltd ABN 96 002 071 749 trading as MLC financial Planning, Australian Financial Services Licensee (AFSL:230692). The articles being accessed may contain general information and general securities advice. Before making any investment decision on the basis of the articles, you should consider, with or without advice, the contents of the articles in light of your particular investment needs, objectives and financial circumstances.
This entry was posted on Friday, February 6th, 2009 at 4:47 pm and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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