The Money Advantage Podcast

Why You Want Insurance Part 2: It Protects Your Human Life Value


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https://www.youtube.com/watch?v=zMY8I8FxEJ4




Insurance is about more than protecting your stuff. It’s about protecting your human life value.Often, you need insurance ranks pretty close on the motivation list with you need to change the oil in your car.Here’s the filtering mechanism your brain goes through when you hear it:  Not that pressing.  Things are going fine without it.  Why be inconvenienced to handle this non-urgent matter?  Not that relevant.  Out of sight, out of mind.  Dismiss.



Right?



But what if I told you that the reason to change your oil in your car was not about your car at all?  Changing your oil protects you, your peace of mind, and your ability to create value.







Where Insurance Fits into Your Whole Personal Economy



Let’s zoom out for a moment to remember where and why insurance fits into your Cash Flow System.







Your foundation starts with keeping more of the money you make.  Second, you protect what you’ve built.  Finally, you increase your income to create time and money freedom and expand your legacy.



Insurance fits in the protection stage.  With it, your livelihood is no longer at risk, but secure, regardless of the life circumstances you face.



Your protection is like a roof on your financial house.  When the shingles are sufficient and cover the whole house, it keeps storms outside your house, preventing them from getting inside and destroying your belongings.  Similarly, when you have adequate insurance protection, your income and assets you’ve built are safe from financial storms that may occur in your life.



Without changing your oil, you run the risk of thousands of dollars of irreparable damage that can be done when a car runs out of oil.  Your nightmare of needing to replace a car fast is now upon you.  While buying a new car should be fun and exciting, you now have to spend hours searching for the right vehicle just to bring your life back into equilibrium and normalcy.  Basic transportation in your everyday life that was easy before now becomes a complicated algorithm of managing other people’s availabilities to find out how they can help you get from point A to point B.



This seemingly menial task of preventative maintenance is now all-important.  It’s not really about the car, but about protecting your peace of mind, and saving yourself the worry and frustration.



Similarly, insurance is about more than just protecting your stuff.  It’s about protecting you.



An Optimized Personal Economy



Let’s take a moment to zoom out and look at the big picture of your financial life.



In a well-functioning personal economy, you start from a mindset of abundance.



Next, you protect what you earn through insurance and legal planning to solidify the foundation.



Then you optimize your efficiency and minimize the leaks and losses that have money flowing out of your control.



As you increase your
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The Money Advantage PodcastBy Bruce Wehner & Rachel Marshall

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