You might lose it all.
Recently, I met Freddy Sim who kindly set aside time to chat with me about the benefits his profession offers others, his company & personal philosophy of success.
A personal advisor & asset to many Singaporean government officials and regular folk alike, Freddy emphasised the importance of wealth protection in the form of insurance by sharing a personal situation:
His mom had a bad fall which left her in a vegetative state. Hospitals care for such patients for only a limited period, so he has to transfer her to a nursing home - which costs $3000/month.
His mother did not buy insurance, and she was past the acceptable age bracket (when insurers will offer coverage for) when Freddy could begin purchasing plans for her. He mused:
"$3000 a month - can I afford it? Let's say yes. $360,000 a year... yes. $360,000 a year for 10 years?"
If you could pay a small price to handover possibly huge liabilities to someone else, would you?
Recently, I met Freddy Sim who kindly set aside time to chat with me about the benefits his profession offers others, his company & personal philosophy of success.
A personal advisor & asset to many Singaporean government officials and regular folk alike, Freddy emphasised the importance of wealth protection in the form of insurance by sharing a personal situation:
His mom had a bad fall which left her in a vegetative state. Hospitals care for such patients for only a limited period, so he has to transfer her to a nursing home - which costs $3000/month.
His mother did not buy insurance, and she was past the acceptable age bracket (when insurers will offer coverage for) when Freddy could begin purchasing plans for her. He mused:
"$3000 a month - can I afford it? Let's say yes. $360,000 a year... yes. $360,000 a year for 10 years?"
If you could pay a small price to handover possibly huge liabilities to someone else, would you?
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