Insurance solutions to financial services

I've worked with many different clients, assisting many persons with individual health and life coverages. Once in a while I meet up with individuals who don't have life insurance and don't plan on getting any. The excuses some give are, "I don't have life insurance because I can't afford it" or "I should've gotten it when I was younger, now its to expensive".. Sadly, I've even heard.. "My kids can figure out what to do with me when I'm gone". 😳

I attempt to encourage persons with this mindset to change their minds. Because, something is better than nothing. Where is your love one going to get money to cover the financial expenses after losing you?

I have even heard individuals say I will start saving my money, then I won't have a premium. Yep! Because you still won't have life insurance, which is a lump sum of cash to help cover a loss. While establishing a savings account may be good for your financial future. The savings account can fall short of covering a loss if death happens sooner rather than later.

How is Insurance part of the solution to a persons financial well-being and not the problem? By definition insurance services are available for protection against a loss... According to investopedia, insurance is another important subsector of the financial services industry. Insurance services are available for protection against death or injury (e.g. life insurance, disability income insurance, health insurance) against property loss or damage (e.g. homeowners insurance, car insurance) or against liability or lawsuit.

What are financial services? By definition, Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, accounting companies, consumer finance companies, stock brokerages, investment funds, individual manager, government-sponsored enterprises and insurance companies.

So, in general companies that offer financial services and products that help individuals grow their money and solutions to keep it longer. A good financial plan will include insurance to cover against a loss.