says that when we are young we accumulate responsibility much faster than we do assets. It becomes necessary to put certain financial services products in the place of cash. We have a mortgage because we cannot pay cash for a house. Loans are often needed for vehicle as well. We have Health Insurance to protect our resources from accidents and illness. We have Life Insurance to protect our family from a loss of our income, in the event of our death. We Invest for the future, for college funds and retirement and can even make arrangement for our Long Term Care.

Insurance has been a part of our lives since ancient Phoenician times. It really began flourished in the 13th century when merchant ship owners recognized the need to protect their ships and cargo from storms and pirates and just plain getting lost at sea.

Have you ever heard of Lloyd’s of London? In the 1600’s, Lloyd’s was a major coffee house in London on the docks. The Starbuck’s of days gone by. Wealthy people hung out there drinking tea and coffee talking about events of the day and bragging about their fortunes. At Lloyd’s information about ships, their movements and their cargo was posted on the wall. Patrons who were willing to accept some or all of the risk for a particular ship would write their name and the amount they were willing to put up, under the name of the ship, and the term underwriter was born. They did this in exchange for a premium of the trader’s expected profit.

Simply put, insurance is a way to shift the taking of risk from you to others. The question that must be answered is how much risk should be shifted to others to protect your assets and your financial future. Perhaps consultation with one of our representative can help you design a protection plan that is right for your family or business.

Member