If there's one thing that's often misunderstood by many people, it's insurance!"Don't Let me Be Misunderstood" was a song written for, and originally performed by jazz singer Nina Simone, though most old school music listeners will likely remember it as the huge rock blues hit performed by The Animals in 1965. "But I'm just a soul who's intentions are good, oh lord, please don't let me be misunderstood."
Why the song reference, you may ask? Because, if there's one thing that's often misunderstood in my life these days, it's the industry in which I now work.... insurance.
First of all, people seem to view insurance as some sort of an investment rather than as a protective activity. That is one of the biggest and most basic misunderstandings and, as a result, if they haven’t collected on their policy people are upset because they feel that it wasn't a "good deal".
Really, what they should consider is that the best return on an insurance policy is no return at all. No return means no loss, no claim, and no related dangers or hassles associated with the things that may have caused their losses and subsequent claims. The intention is good in that insurance is there for you if there is an accident or incident, but really, the best thing for you is to not have either.
|photo courtesy of Chuck Kirman/ The Star|