Enhancing your Life Cover for higher returns.

Okay, welcome to our next episode on your personal Um, my personal finance space. I mean when I say my personal finance space, I'm talking to you. It's your personal finance space so every time you're looking out on your uh on your youtube You're looking for my personal finance space and your executive financial advisor here. I would like to ask you today to proceed to the Chamber to break down those concepts in the financial industry those The concept of the financial services those concepts that have given you headache those concepts that You want to understand those issues that have led you to take a back seat and you don't take Action on the things that you should have taken action on okay so we have um The last episode we stopped uh when we were looking at the what's the different insurance The different things you can do, uh, the different things you can achieve. I'm going to go through the life insurance covers and if we can quickly recap with it was education retirement If you want to buy land if you want to buy a car if you want to get married if you want to If you want to move if you want to do your PhD those so What kind of life insurance coverage do you get when you take out a policy? You can collect money and then you do what get a lump sum and go and execute the things that I want to continue you see when I am I'm an insurance a Financial advisor and out of my experience when I'm out there in the field I keep interfacing But how can I get from a life insurance coverage and then some people will say Those insurance covers they have no interest they don't give you good return the question is Did you understand the life insurance coverage that you took out because as it is these coverages are What do I mean by enhanced they are done they are packaged in such a way that when You do this you achieve more or you achieve less for example if they come and tell you That the minimum premium is 100 000 and you say even when you can even when you can pay for Example 1 million shillings and you say oh they pay 100,000 as a minimum let me pay 100,000 Just know you'll get your money with the right interest but it won't be as good as Someone who paid 1 million so if you're there and you know I'm able to pay 200 to pay 250 to pay This much money the more money you put in the better you earn that is the principle of money The more you put in the better you earn then the other way is when you have a long-term plan I've also come to learn that people when we teach you out there and someone says which what Is the shortest plan that you have five years give me that one of five years yet your children You're probably young or whatever you want to do to get good returns you can only go long term Every time you think about financial instruments investing in financial markets investing in money Money money market look at the long term but then when you have um when you have a lot of money You have accumulated a basket which is good then you go for these uh these instruments that can allow you to put in quite a bit of good money and have a good return and that one comes over time So how do you enhance your insurance coverage to help you earn more one is by paying good premium If you are able and good premium by any insurance coverage is anything above 250 another way is by I'm not going to sign up for anything 10 years and above and then another way when you go to the the insurance The first is that we have a very large number of different structures that we can pay for. Monthly you can pay quarterly you can pay by yearly you can pay annually so whatever you decide It also helps you to enhance your coverage so today I want us to appreciate the life insurance cover that you can actually use it to benefit yourself to benefit your loved ones you can use I have a number of clients that I have and for them what they have I decided to do someone for example puts says I have my 500 000 that I want to put in insurance In fact, every month and I have my three children for example you will look at your Three kids uh look at the time they have to go to university then break this money down accordingly So you find that you will have a policy of 10 years 5 years 15 years Or 12 years depending on the ages of your children so this money will come back and start maturing The policy you signed and it was 5 years will come out first then the one you signed The next 10 years will come out remember it has already moved five years so and then another Maybe in 15 years or 12 years will also come out next you see how you are becoming rich You're getting rich using the life insurance coverage so when you come in with a positive mindset When you go out and take out a life insurance cover with a positive mindset you will surely reap Just ask these questions if an insurance company out there comes and tells you uh you see you see with the These hard questions ask them how I benefit tell me how I enhance my cover and they will break it down don't just sign for the purpose of just signing because someone has come to you And they're telling you to do what to sign ask ask so that when you come in you've come in to You have come to enjoy the maximum benefits because those benefits are for you They're tagged on those covers for you to achieve so utilize the benefits utilize everything That's there and you'll be a happy person you'll retire happy uh should death happen to you Your people will be happy because you made a good decision so today we talked about Enhancing our covers and if you have any comments please drop those questions drop them and we I will answer them and we will keep interacting and we will my goal here is for you to understand The Commission will be able to make a contribution to the development of the European Dear ones I want to end here today on this particular episode uh on the how to enhance I think we've learned if you're watching this is your first episode please go back Where we started from you follow through learn and learn learn and unlearn and then You made a good decision. Thank you for being a good viewer today.