Insurance – Get Before You Need It

Jon Glougie

October 8, 2019

If you haven’t been thinking about your insurance needs, you’re not alone. Most people don’t think about insurance until they actually need it, but it’s always best to explore your insurance options or apply for your insurance policy(ies) before you need them. If you are young and healthy, you likely won’t need insurance… at that moment. However, this is precisely the moment that you should be getting it. Remember, when you are applying, you are asking the insurance company to look at you and your health before the insurance company agrees to insure you. Once the insurance company has assessed you and your health, they will decide (to approve you or not) based on the likelihood that you will get sick, injured or pass away. This in turn, determines the likelihood of whether or not they will have to pay you or your beneficiary the insurance benefit. If you apply when it is unlikely that you will be using the insurance any time soon, you have a far better chance of being approved. The cost of the insurance will also be much lower in these situations, as the insurance company will not see you as a risk to insure. Think about insurance like credit. If you don’t need it, you can generally have as much as you want/need. When you do need it, you can’t have it any more. So if you haven’t thought about your insurance needs, perhaps now is the best time to do so.