Two personal anecdotes on the importance of insurance

Everyone knows insurance offers peace of mind against the unexpected, but what does that really mean?

I recently discussed this with Carolyn Wright on RTHK, sharing two personal experiences that highlight the real benefits of having the right coverage.

Earlier this month, while my family was in Japan, Typhoon Wipha hit, leaving us stranded in Tokyo instead of on our flight home. Thankfully, our travel insurance covered our hotel and rebooked flights, turning a stressful situation into an extra night of adventure in the city. That’s the peace of mind we talk about!

Just this week, I woke up with a frozen shoulder. Thanks to my health insurance, I was able to see a specialist immediately and get the care I needed without waiting for public healthcare. Yes, private insurance can be pricey, but there are tax benefits available if your employer's coverage falls short. Again, peace of mind.

It might seem counterintuitive, but investing in insurance is a smart way to protect your wealth. What good is wealth if it can vanish due to a medical emergency? That’s why I advocate for comprehensive coverage as part of a solid financial plan.

I also shared key types of insurance with Carolyn, discussing health, life, travel, and critical illness cover. You can catch the full conversation in the recording below.

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