Turns out waiting until you’re older to get health insurance wasn’t such a good idea after all – the future you wants to have ‘a little chat’ with the present you.
It’s totally understandable why present U isn’t down with insurance – we’ve heard it all before:
- ‘I don’t want to be over-insured’. Which is code for, ‘I’m so stingy it hurts when I pee and I honestly don’t see the need’.
- ‘I rather pull hairs out my nose, ears and armpits, than sit down with an insurance person.’
- ‘I don’t need it because I could always sell my home’.
Here are a few things we think you should know about insurance:
Starting when you’re young is smart. Sure you’re less likely to use it, but you’re less likely to be faced with dreaded exclusions when you’re older. It’s also as cheap as chips as you’re less likely to use it.
- The public health system is dying. NZ spends more than it probably should on health and it’s likely going to change at some stage. Do you really want to outlive the public health system?
- You’re dying. That’s right – every day, you die a little. Gradually. It may start out with a hip replacement but end when the next mole removal isn’t ‘just a precaution’.
- Work health schemes aren’t always the best for you and your family. Who’s an expert in insurance policies – your employer?
- It’s a cost of building wealth. If you have a mortgage, especially on rental properties, getting life insurance is critical to maintain ownership during some pretty tough circumstances.
Here’s what tomorrow’s U would say to you right now:
- ‘I don’t want to be over-insured? There’s no such thing as being ‘over-insured’ so harden up. Nobody who gets cancer then gets a payout ever complains about getting too much! You’ve got the mortgage, the kids, and the income that holds it all together but no insurance?!
- ‘Can’t be bothered dealing with insurance and going through it all?’ Hey, it’s actually not that pleasant dying slowly either.
- ‘I don’t need it because I could always sell my home?’ Really, you’re saving $200pm and instead you’ll pay $30k in real estate commission, sell your main asset, spend the proceeds and move back in with Mum and Dad? Then die? Ouch!
A small decision today around who you insure with, what you insure, and for how much, can make a massive difference in your world later on.
#tomorrowsU needs #presentU to step up and deal with this insurance thing – are you ready?
Ungaro & Co are experts not only in insurance, we’re experts in helping tomorrow’s U – give us a call today, we’re rather friendly, and surprisingly not that boring too!