Finance | Insurance

October 2022 Insurance Advisory: It's Financial Protection Not Financial Freedom

Oct 06, 2022   •   by   •   Source: Ekerete Ola Gam-Ikon   •   eye-icon 179 views

So, think about it! Many decades have gone by since the introduction of the subject - Financial Freedom, and several financial gurus and coaches have expressed diverse steps to achieve it, without the mention of INSURANCE! Why?


It's either they don't see the connection between Financial Freedom and Insurance or Insurance is the best kept secret of Financial Freedom.


What do you do when you first get, acquire or 'steal' something? PROTECT IT! This is what I know and it's true with most people. 


Gurus and Coaches of Financial Freedom have kept us busier trying to do the unnatural. Rather than PROTECT what we hear are assignments including savings; we're encouraged, instructed or advised to do more, like budgeting, investing, borrowing and acquiring up to the level when we'll be enjoying while our passive income provides our Financial Freedom. 


ADVICE 1: Whatever you decide to do with your money/earnings, ensure there's protection of insurance type. Your lifestyle, travels, health, properties and relationships can all be insured (protected) against future misfortunes.


ADVICE 2: No matter what stage of life you are right now, you can start that discussion about the protection of your assets with a responsible Insurance Advisor or Broker. Undertake due diligence if necessary. 


ADVICE 3: You're financially free when your financial burdens are taken away or you feel protected such that when something happens, you don't panic but look forward to adequate compensation, from your Insurers.


TAKE NOTE that only few insurers understand this and the effort to get more into the Insurtech space continues relentlessly. 


About The Author 

Ekerete Olawoye Gam-Ikon, MNIM, CPP, is a management consultant with a specialization in Strategy and Insurance. You can contact him via e:mail [email protected] and mobile +234-806-648-1111 

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