WHY INSURANCE IS THE FOUNDATION OF A SOLID FINANCIAL PLAN

Building a Strong Financial Future: How Insurance Protects Your Hard-Earned Money

A recent World Bank dataset shows that out-of-pocket health expenditure in Kenya is about 24.6% of total health spending (2020). This means many families risk depleting their savings or going into debt when medical emergencies strike. Insurance can shield you from these unexpected financial shocks.


Here's how:

1. Risk Management - Insurance transfers the financial risk of unforeseen events like hospitalization, accidents, or loss of income to the insurer.

Why It Matters: Without insurance, one major event (e.g., a hospital stay) can wipe out years of savings or force you to borrow at high interest.

2. Protection of Assets - If you own a business or valuable property, insurance ensures you don’t have to dip into personal funds to cover losses or damages.

Why It Matters: Corporate professionals and entrepreneurs alike can protect equipment, inventory, or even personal property from unforeseen calamities (fire, theft, etc.).

3. Long-Term Savings & Wealth Accumulation - Certain plans (like endowment or unit-linked policies) offer a savings component, growing your funds while also providing coverage.

Why It Matters: This dual benefit helps you build wealth over time and safeguards your loved ones if something happens to you.

4. Peace of Mind - Knowing you have a safety net allows you to invest or expand your business with more confidence.

Why It Matters: Stress-free decision-making often leads to better career or business outcomes.

5. High out-of-pocket costs can lead to catastrophic spending for families without health insurance.


Corporate Employees: Complement your employer’s coverage with personal policies to fill gaps (e.g., life or disability).

Self-Employed & Business Owners: Shield both your personal finances and business assets from unpredictable setbacks.


Book a free 15-minute consultation to see if you’re fully protected or if there are gaps you need to fill


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