Hands up who's got life insurance? Two of my students were in shock because I told them that I didn't have a life insurance policy. They seemed very concerned and asked why I haven't taken a policy out for my own life. My answer: because I'm optimistic! Somehow, they didn't seem to buy that answer. But it's true.
I asked my next student if she had life insurance and she said of course! Hong Kong people all take out life insurance policies. And I'm not talking about 50-60 year olds. My students are young and able-bodied workers who will live for another 40-60 years. It makes me wonder why? Is life really so bad here that makes people want to go out to ensure that their beneficiaries will be looked after once they've kicked the bucket.
When I think about the stuff that I've done, bungee jumping, white water rafting, jet boating, boarding a light aircraft in the middle of the Peruvian jungle to name a few, a reasonable person might expect that I should insure my life. Sure, I've bought travel insurance but I don't think I would have been covered for those activities that I have just listed, although, I have always fantasised about a plane hijack and how exciting that would be while at the same time I could reap the benefits of something like US$10,000/day.
I was also thinking about the recent murder-suicide of a mother who tied her two children up and threw them out of the building from their 24th floor apartment and then later jumped to her own death in Hong Kong. I'm sure she didn't have a life insurance policy or even if she did I don't think you can claim if you commit suicide. So does that mean for a person not to hold a life insurance policy you either have to be really optimistic or really really deranged?
I have also thought about how my beneficiaries would spend the money, which could be considered as a windfall - lose a sister/daughter gain about HK$150,000 each if I was to divide my life's worth amongst my family members. It's really not a lot of money. I wonder how much it costs to be cremated in Hong Kong? Anyway, just to make my students happy I told them I would look into the life insurance situation.... maybe when I turn 40.
1 comment:
im no expert on insurance, however nowadays life insurance comes with riders. thinking you will die straightaway and your beneficiaries will receive payout from your life insurance policy is an optimistic thinking. but what if you don't die and end up lying immobilised somewhere for a long time? that's why insurance comes in handy to protect yourself and your family members.
having said so much, i don't have any insurance policy too! mua ha ha ha...except medical insurance, in case i end up in the hospital.
Post a Comment