Insurance
Before you BUY your first/next insurance policy…
By Patrick See  •  May 16, 2011
There’s a saying in the medical profession –
Prescription before diagnosis is Professional Malpractice
Does anyone go around buying prescriptions (or stalking up prescription) like Metformin, Lovastatin, Paracetomal?. I hope you DON’T. The obvious answer is NO!. IF you are NOT diagnosed of Diabetes, High Cholesterol or Headache. The proper procedure is to seek consultation from a qualified and licensed medical practitioner.
Similarly, does anyone go around buying Insurance policies (whole life, term or endowment). Again, I hope you DON’T. The obvious answer is NO. The proper procedure is to engage a financial planner who will assist you with a proper financial 'health' screening to identify your financial health. This is called Fact finding. After the fact find, he would compile and analyze the data before generating a (financial) health screening report.
The BASIC foundation of Financial Planning is (NOT Insurance but rather) Budgeting, Cash Flow Analysis and Balance ...
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By Patrick See
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