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Like most things today, insurance has evolved to deal with the new realities of modern life. In its infancy, insurance was merely used to protect cargo and property, then it was extended to people's lives. Now, it is a tool to aid in the financial planning of sound minded individuals.
Financial planning is not an instantaneous process. It takes time, effort, and a thorough consideration of your present needs and future goals. In an unstable economy such as Jamaica's, it is even more important for one to make such considerations early in one's professional life. As such, financial success hinges on the creation of a personal balanced financial plan.
According to one noted economist, a balanced financial plan will include four key components:
- Protection dollar
- Guaranteed dollar
- Cash dollar
- Equity
What does this mean for the ordinary person? It means insuring one's life, buying into fixed return instuments, the acqusition of liquid assets and investing in options with flexible return.
In Jamaica today, there are two major companies that offer insurance, Guardian Life and Life of Jamaica. They both have formulated new insurance and investment policies geared towards satisfying the requirements of a balanced financial plan. From the civil servant with a wage freeze to the self employed battling an unfriendly economic climate, insurance policies are there to suit your specific needs, including car acquisition, home purchase, funding your children's education, retirement and final expenses.
As a broker with Solid Life and General Insurance Brokers, I believe that my insight into both companies allows me a unique vantage point in assisting you with finding a policy to fulfill your financial goals.
Let's talk.
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