The best investment in the world.

While walking around the Hua Hin area notice the many “Farangs” who are happily married to local Thai girls. Many of them indeed are very proud of their beautiful children and no doubt have great plans for the children's future.
In most cases there is a distinct age difference between husband and wife. Thankfully this does not raise as many eyebrows as it would in the West but the one thing that these husbands may not want to face up to is that they will probably die many years before their wives
When this happens how will it affect the plans for the children's future?
Generally in the west when you approach a married couple about life insurance they mostly answer “O Thanks but we have enough already” I always reply “Enough for what?” “How many widows do you know who thought their husbands had too much life insurance?”
In Thailand many care for their families and make sure they have adequate cover but many more reply "May pen Rai” When I die my wife will return to the village where she came from. Her family will look after her and anyway we are insured locally for B300,000 What a cop out. The one thing that this type of cover will ensure is that your widow and your children will eventually be dependent on someone.
However I do understand the reluctance to insure your life adequately. Before I came into this industry my thoughts were "Why should I insure my life for $1 million and have my widow running around town in a Ferrari". But it was pointed out to me that life assurance is to fulfill my plans and objectives for my widow and my children and that good insurance companies would make an annual payment to help fulfill these objectives. They are well aware that someone not used to large amounts of money could blow it all in a few years if presented with a huge amount.
When I said to them I would rather sell investments than life insurance, the reply was “Investments”? The best investment in the world is the one that pays the most when you need it the most and that is life insurance.”
Imagine this scenario. Father A died last night but luckily for his family he was fully insured. Father B also died last night but unfortunately had little life insurance. Both had 5 year old boys. Move the scene on 20 years. Son A is driving out proudly in his new BMW from his first year job as a junior hospital doctor. He blows the horn at son B who was his school friend. He is sitting on his motor cycle taxi and acknowledges by waving.
Son A is proud of his late father who was thoughtful enough to provide for his education in his absence through life insurance To Son B his father was a ‘Farang” he has no memory of.
All I'm saying here is know the price about doing something and know the price about doing nothing.
Remember that paying the monthly premium isn't the problem. Paying the premium is the answer to the problem.