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Life Happens

Insurance - relatively unimportant?

The belief that insurance is relatively unimportant is easy to catch on to. Life is safer - a lot safer - than it used to be. In a world filled with big ugly crises to worry about (North Korea, climate change, you name it), it is easy to ignore it. Our recent elections, too, have kept the focus on bigger issues, it seems, than insurance. Whether the issues are the health service, the economy, or immigration, there is always something bigger, more important, than insurance to think about. Insurance gets ignored, after all, it is part of the promise: peace of mind is another way of saying forgettable. 

But insurance shouldn't be forgotten, of course. That's because the level of safety net is basic. I don't care who you voted for, if your household income is at the median or above you will find the state safety net to be set uncomfortably low, with a fair few holes in it. The role of a good financial adviser is to get you saving, investing, and insuring. Each of those strategies creates an additional line of defence for when things get tough. They might be unimportant to voters as a whole, but to each of us, they should be something we check annually - like the civil defence kit, or the smoke detector batteries.

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