“Anyone who doesn’t believe in life insurance deserves to die at least once without it.” – Unknown

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Have you heard of this term,“Optimism Bias”?

It simply means don’t be too optimistic with your life! And this article calls out to those who do not believe in owning any insurance, or alternative source of income!


On Friday 13th 2012, I was involved in an accident along with my driver and two other passengers. It was a domino effect wherein we were the last car to hit the fourth. The front was badly damaged and yet, we were safe! Perhaps I was uninjured, my family had no discussion regarding any accident and emergency (A&E) insurance plans upon informing.


Who knew that in January this 2015 I’d suffer from a left toe laceration? Witnesses and friends essentially advised me to dial for an ambulance immediately. Paramedics arrived and assessed my wound as serious! The A&E department, consultation, treatment plus medication cost me up to $110.75!


Thankfully, I practiced what I preach regarding my article on emergency fund. It took months to heal, but aesthetically, it still doesn’t look as good as before!  I now consider a follow-up consultation with my personal dermatologist, which will set me back by $200!


Since then, my father informed me that he got me ‘personal accident insurance’. I was surprised because I could have been covered for my laceration! If only my father got it immediately after the car accident in 2012! Additionally, peers told me that their parents do not believe in it. They exclaimed that it was silly of me to be ‘wishing’ upon such accidents again. After this experience, I took a crisis stress management module to learn about the statistics of A&E cases, and be prepared during emergencies.


Do you know that automobile accident rates are sky-high and increasing annually?


On March’s Friday 13th, before the clock struck midnight, I witnessed a man who was hit by a taxi. Although completely shaken, my friend told me to dial for the ambulance while he checked his breathing. He emphasized that I should not look. Yet, I deliberately watched the paramedics carry him into the ambulance. His limbs were greatly out of shape! Ouch!


I decided to Whatsapp all my loved ones to rethink their insurance plans!




My own and family’s optimism bias, after the 2012’s car accident had led me to spend hundreds on recovery. I’m not a financial consultant. However these incidents convinced me that I must insure myself.
I may just be one person who had been through two accidents, but it is enough to show you that anything can happen to you within a short time span!




Jade Lee is the Chief Editor of Giants Learning Technologies. Her life purpose is to help; thus committing to youths like herself through articles regarding early financial planning. Jade graduated from Ngee Ann Polytechnic where she attained a Diploma with Merit in Early Childhood Education, having dedicated three years in understanding preschool children. Under a scholarship, she reads Bachelor of Arts in Psychology from Nanyang Technological University. Jade is also a commercial model and engages in Hip-Hop dance. Find out more about her insights via jade@theageofgiants.net



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