Insurance. Is it a tool that helps strengthen our finances or just another so-so investment product to purchase?
Many people think of Insurance as a product.
A product that eventually - most probably - one day - they will have to think about.
Just one more product that they will have to Google and look at YouTube videos so they can start to comprehend what this product called Insurance is really all about.
So Insurance, is it a tool or a product???
I find when the topic of Insurance comes up, few people understand its full value.
It's usually not seen as a tool that helps us take control and strengthens our finances. Rather, many times its seen as an inadequate investment product to hedge some of life's challenges.
Through my love of cooking I came up with the following metaphor to more clearly explain how Insurance can be thought of as a tool.