Another tragedy, another reminder

It is a sad weekend and again we are saddened by the news that our long time good friend, Jenny (a pathologist), passed away after 4 years of fighting with cancer. We went to attend her funeral yesterday to pay our final respect to her. This reminds me again how important to be prepared in case such a tragedy  hits us. A well structured life insurance is definitely an important one as part of our protection that I think everyone should seriously consider. Unfortunately its importance is often showing up when a tragedy attacks but it is often too late if nothing was done in advance. In the past 20 years, I personally have witnessed 5 deaths involving someone I knew well: 3 college classmates (including one died of heart attack when in 30s) and 2 good friends, all with premature deaths. I talked about one, Lao Pan, just half a year ago (you can see here) and now Jenny. Too sad as none of them had got good life insurance set up that could have helped them a lot during the last part of their life and their loved ones after their death. Well, I don't want to sound like I'm an agent aiming to sell you life insurance. No, I'm not but I just sincerely think how important it is and wish all my friends can be protected appropriately when they need it. This is especially true when a good well structured life insurance can also become part of wealth building strategy that can greatly support your retirement life even no tragedy ever hits, a one stone for two birds strategy!


Just a few quick words about the timing for a life insurance as it happened that I got this question from a few friends lately. They are questioning if it is too late to consider a life insurance when they are already at 50s. My simple answer is absolutely not. Of course if you are only thinking about a term life, then it is way too late at 50s. But for the Whole Life I'm interested in, age is not a direct factor to determine your premium rate as far as I know. It is the health status that plays a critical role. I know friends at 50s or even 60s getting preferred rate (the best rating) but at 40s getting not so good rating due to poor health. So it is not too late at all at 50s or 60s to consider it. As long as your health status is relatively good, this special WL strategy can be a great wealth building strategy that can grow your wealth in high yields guaranteed, tax-free, legally protected and can be used for long term care or life threatening diseases and of course can be passed onto the loved ones after life. To me, it is just like a high yielding saving account with all the above benefits built in. It can really bring us a great deal of peace of mind during our life with all kinds of unexpected risks that may hit us without prior warning. Each tragedy I witnessed has just increased my belief in this, hence this blog to share my thoughts!