Insurance is Worthless… Until You Need It!

I don’t know about you, but when I see how much I spend on insurance every month, it drives me crazy.

In general, insurance has been a bottomless money pit for over 40 years for me.

As the great philosophers out of Boston say, “All I want is to have my peace of mind.”

Had I known I would still be alive today; I wouldn’t have paid for life insurance all those years.

But you never know, right?

I had a family to think about. Had I died, our dreams for our family would have gone out the window.

Let me tell you a story about my wife’s brother, Bernie. He was one of the healthiest people I’ve ever known.

As a young man, with a young family of his own, he contracted a virus…

He fought it for a couple of weeks, but before anyone was ready, Bernie lost the battle and passed away.

I’m sure he also felt it was worthless, but Bernie loved his family. So, he paid those life insurance premiums every month, so…

Bernie’s wife received a check for $1 million from the Insurance Company.

That’s when she cried. She finally let out the overwhelming tears she was forcing herself to hide from her daughter.

She realized how much Bernie loved her and their daughter.

I’ve heard it said that life insurance is LOVE INSURANCE.

Let me tell you another story…

I have three grown children.

As teenagers, they not only wrecked cars… but all three of them TOTALED at least one car.

When my oldest turned 16, I bought her a year-old, candy-apple red Chevy Camaro. (I know… that was my first mistake 😉

That same year, a friend told me he was buying an Allstate franchise and asked me to change my policy to his agency. He said it was going to take a couple of weeks to complete the deal.

Instead of waiting, I canceled my existing policy to save that month’s premium. (This is the stupid mistake that causes the moral of this story.)

I had had that policy for many years without filing even one claim. I figured I could take the chance for two weeks, right?

Wrong!

It was only canceled for 10 days when my 16-year-old daughter got into a wreck in her candy-apple red Camaro.

Here’s the moral of the story…

That one stupid decision to go without insurance…

For 10 days…

Cost me tens of thousands of dollars…

For the other guy’s truck and the brick wall that she careened into…

Not to mention, her candy-apple red Camaro.

I had to learn this lesson the hard way.

And I have had tons of friends and clients who had to learn it that way, as well.

Here’s Tony’s Tip for Today…

“Hope for the best but prepare for the worst!”

Worry, stress, fear, and anxiety cause most of our health problems today.

Make sure your plans include contingency plans for the bad things that might happen. We should believe that our plans will succeed…

But imagine the worst-case scenario. Could you live with that?

If not, that’s what insurance is for. It’s called leverage.

Transfer that risk to an insurance company! Pay pennies on the dollar in case of the worst scenario…

So that you and your family abolish stress and worry and enjoy peace of mind.

You don’t want to be without insurance when the worst happens.

In my 36 years in this business, I can tell you story after story of people who did not consider the consequences…

Or they decided to risk the worst-case scenarios and hope the worst won’t happen…

Or they start well, but cancel their policy to save money…

Only to need it shortly thereafter.

Remember…

Insurance is worthless until you need it. But when you need it, it is priceless!