There was this master shipbuilder, who was given the opportunity of a lifetime. He was chosen by a wealthy merchant from amongst hundreds to be in charge of building a ship. This ship was to sail across the Pacific Ocean. Immediately he set off to make plans, sourcing for materials, engaging draftsmen, naval architects, builders and so on. After some time, the ship was completed and it was time to test her sea-worthiness. The wealthy merchant came on-board to inspect the ship he had commissioned. As he walked around he noticed that there were small boats fixed to the sides of the ships. Curious, he asked the master shipbuilder why they were there.
Wealthy Merchant: “Why are small boats attached to the sides of my ship?”
Master Shipbuilder: “In case a serious storm wrecks the ship, the small boats will allow the people to escape to safety”
Wealthy Merchant: “And why isn’t my ship designed to withstand storms??”
Master Shipbuilder: “Oh! It certainly is designed to withstand all kinds of storms. Still, your life is so important that we have to provide an escape plan just in case a storm does wreck the ship.”
Upon hearing that his life was treated with utmost importance, the wealthy merchant was satisfied. The ship eventually sailed the Pacific Ocean countless times, and the small boats were never used. Still, they were never removed.
We are all master builders of our own lives. There is a certain quality that we seek to have, and we work hard to achieve it. As our lives are very important, life insurance is like a form of small boat to allow us to escape the storms that life throws at us. Still, we definitely hope that we never have use for it.
The moral of this story is to share that life insurance by itself is valuable. It might not be very interesting, but it is important to learn about. Fortunately or unfortunately, Singaporeans only have access to life insurance through representatives. Do not let the fading stigma associated with representatives deter you from learning more about insurance.
Opinions by Enoch 