Even I mention “insurance” a lot. It’s partly bad habit and partly because common vernacular and understanding demands it. It’s what folks expect.
But insurance is just a product, a financial tool to accomplish something more important. Nobody’s in the market for an insurance policy. But they are in the market for financial resiliency. The ability to weather a sudden and impactful storm of serious consequence, whether because of a fire, or a serious injury, or being sued for something you did (or didn’t do), or having some part of your financial life stolen from you, is what every family wants. It’s what they’re shopping for when they buy insurance.
I think consumers would be better served if we stopped talking about insurance, took the labels off, and started talking about building a strategy to improve financial resiliency.
One thought on “Don’t talk about insurance, but let’s chat about financial resilience”
[…] Yesterday an industry friend and I were talking about improving the manner in which we talk about what we do for a living. We figure if we can better describe the role insurance plays in good financial planning, consumers might take it more seriously and they’ll be able to ignore the irresponsibility of so many messages our industry sends out to people. I’ve talked about this before in an earlier post. […]
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