What parts of this ship are actually worth insuring?
...from what I've many times seen, people tend to not insure for all the catastrophes that they should. They may insure their iPhone, but not their lives, for example. (05:29)
Disability insurance on the other hand, because you are actually much more likely to be disabled than you are to die as a young person, it can be a little bit more [expensive]. But again, you can kind of tailor it any way you want. (06:38)
And the line that I always share with young people is, and this is the one that motivated me, if I was to die today, is the relative that would be the loudest and the most convincing in a courtroom, would that be the person I would actually want to raise my child? (07:55)
Quote for the episode: "Understand that there is insurance for almost anything, but this general concept of catastrophe versus inconvenience, can help you know what is worth insuring what you have absolutely have to insure like your life, or your income potential." (08:40)
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Waiting for the perfect scenario can get in the way of making any progress at all!
Now, right now, today is almost always better than perfect. (02:08)
So get out there, get the insurance policy now and then when you get in better health, go get a new one to replace it. (03:14)
Accidents will happen in life so captain your ship or at least hire one!
"Yes", he replied, "the boat went past me first on its way towards you." "You were lucky it missed you. I wasn't so lucky." "Well," said the newcomer, "I saw that it might hit me so I moved out of the way." (01:51)