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The Insurance Cinderella Story…

The Insurance Cinderella Story…

Once upon a time, insurance had a place in her own little corner of the financial services world. Like a neglected step-sister, she was (and still is) ignored by advisers and maybe you too who, above all, focus on mostly one area of wealth management, wealth creation (mostly investing).

Both insurance and investments are important in reaching your financial goals, hence your life goals; insurance protects your finances and investments to build them. Win-win, right?

With all the unpredictability the world has been facing lately, this Cinderella story has insurance as the “princess of the ball”. It is time that insurance and wealth protection emerge from the “dark side” and get its equal billing alongside its “glamorous investment sister”.

It is definitely a fact that no amount of budgeting, saving, investment planning can get you through an insane and unforeseen financial crisis without leaving a dent in your finances.

These may include a stroke, a ruptured intestine, a grisly car crash, a fire at your home or even your area of business, the transition of a loved one or any other catastrophic loss you can think of that has an effect on your pocket. Let your imagination go wild!

Let us not even go far. COVID-19.

The Covid 19 pandemic has been an eye-opener. If there is something Covid has taught us is that nothing is completely assured and life can throw unexpected curveballs. We have seen industries die and new ones emerging, people have had to start from scratch after losing their jobs, others lost loved ones. It truly has been a rollercoaster ride.

Remember it is always important to cover your bases so that no matter what happens, you and your family’s wealth is not wiped away making you start afresh in life.

Le’Risque Africa Agency Limited is a personal risk management and insurance agency. We find joy in educating our clients and helping them deal with the “what ifs” and “what can go wrong” in life. We believe in taking the ‘if’ out of life so that you can live.

We are here to make sure that when things do go wrong, you and/or your family’s wealth is not wiped away making you start from scratch. Check what we can offer you here so we can get you started in your journey of financial peace.

Look at it this way, a small example, but very common:

You save and invest to get rich

You try cut corners to save a few thousands and don’t buy a health cover

Bad luck strikes. You get hospitalised

You sell your assets to pay the bills

All your savings are gone

Your get rich plan is screwed

You start from scratch saving and investing again

This takes you years back.

Time is really money.

To survive this game called life, you should always be prepared. Play both offensive and defensive roles to win the game.

Just so you know, we play defense (us in risk management and insurance). That is like in say football defense prevents the ball from getting into the net, we protect you and your assets against threats.

Offense is for the strikers, the risk-takers, in this case, it is your investment to build wealth, the fun part in finance. For the game to go great, you need both strategies.

You need to remember, no matter how optimistic you are, every day above the ground is a risk and bad things do happen every day (to both good and bad people) no matter how careful they try to be. Not even when you lock yourself in the house. Floods? Heart attack? Burglars? Aliens?… You get the point. Anywhere at any time!

The real risk in my opinion is; not knowing what will happen, when it will happen and to which extent. It is therefore advisable to be prepared at any given moment because some things are beyond your control and nobody is an exception.

Risk management is way better than crisis management, hands down!

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