Insurance naturally goes hand in hand with a mortgage – but not every insurance policy makes sense. I’m still fascinated by how easily banks can convince people that they have to get insured for scenarios that don’t even fit their life situation – like insurance against job loss.
Recently, I had a client in the IT field with a stable career who came to me saying he wanted to get insured in case he lost his job. He was worried he wouldn’t be able to pay his mortgage. A logical concern at first glance – but one simple question was enough to break it down:
“Do you seriously think that if you were let go, you wouldn’t find another job in your field within a few weeks? Even if it paid a bit less – would that really ruin you financially?”
He chuckled and admitted he already knew the answer. He just hadn’t asked himself that question. Banks won’t ask you things like that – they’re there to sell products. I’m here to look at the bigger picture.
And that’s the difference. Good financial advice isn’t about how many forms you sign – it’s about an honest conversation. About the courage to ask about even the little things that might seem trivial. Should I get insurance for this or that? Is it unnecessary? Am I overlooking something? Am I overreacting?
You don’t have to wait until there’s a big decision to make. Feel free to reach out even with small doubts or uncertainties. It’s always better to ask and have clarity than to pay for something for years that won’t really help – or worse, to miss something important.
Don’t be afraid to have your advisor 'on speed dial.' That’s what we’re here for – not just when you’re signing papers, but any time you’re wondering “what if…”
