What is our biggest asset?

Most people when asked this question will reply my house, my condo or my Mercedes 500SL
In reality if you're like 90% of people the biggest asset we have is our ability to get up every day and earn a living. If we can keep doing it we will earn a fortune.
Everything you have or hope to have for yourself and your family requires that you continue to earn an income. Income is the foundation that supports our expenses our lifestyle and our future plans.
If income is interrupted because of an accident or sickness it may be difficult or impossible to provide basic family needs. Short range commitments and long term plans may have to be delayed or else cancelled
What do you think your total annual earnings will amount to until you are 65.
Or look at it another way. If you were disabled now what are the obligations that would continue even if you were unable to work?
Possibly mortgage / rent, house insurance, electricity / phone, food, car payments, UBC payment, children's clothes your clothes, holidays, school trips, birthday parties and weddings.
Where does the money come from?
If you had saved 10% of your income each year for the last ten years disability or sickness lasting one year would destroy ten years savings
There are alternatives. Your family, your relatives and friends, charity and insurance.
Which do you prefer?
Few people think of themselves as truly valuable pieces of property. If you owned property that earned you your current annual salary in rental income, could you sleep until you had it insured?
No doubt you spend a lot of money each year protecting your assets you worked so hard to obtain but have you been overlooking protection for the asset that allows you to posess all of the rest.
I know that this article makes sense as does stopping smoking. Smokers are aware that if they don't stop they will loose from five to ten years of their life.
But that knowledge is not enough to make most smokers stop. This article will be agreed by many who have the need for this insurance but few if any will take any action.
People would prefer to insure things which are replaceable but do nothing about things which are irreplaceable.
Today, insurance policy benefits, become payable on the diagnosis of any of the following serious illnesses. Cancer, heart attack, coronary artery disease surgery, renal failure, stroke, major organ transplant, multiple sclerosis and any other terminal disease
Not very pleasant reading if you're on vacation in Hua-Hin.
But these things happen. And here are some more unpalatable facts.
Each year in England and Wales 100,000 people have a first stroke. The lifetime risk of developing cancer is more than one in three. 31% of men and 43% of women will contact cancer and survive for at least five years.
Within 6 years of a recognized heart attack 18% of men will have another attack but after the first one it is too late to insure against the second.
So check out the cost for yourself. Which do you think you need most - the money that the policy will cost during the time when you are well and working or the benefits when you are sick or injured?
But let's not finish on a sad note. The good news on a contract like this is that if you're in your Thirties or early Forties, it is highly likely that you can claim all your payments back when you reach retirement age, if you haven't made a claim before that.
So check it out. What have you got to loose.