Insurance has four dimensions.

People say insurance is protection; some say insurance is great charity; some say insurance is love, responsibility, and dignity. These statements are all correct, but to me, insurance is a scientific contractual mutual aid system. In this system, funds are transferred and redistributed from the lucky to the unlucky. In fact, to put it more plainly: insurance is a sum of money, a sum of money that will be compensated to you in the future, but this money needs to activate conditions. The activation conditions are disability, old age, illness, and death. It is the lowest moment in life when money is most needed. From this perspective, insurance is a tool that turns misfortune into cash. For example: whole life insurance is insurance that exchanges life for money; for example: accident insurance is insurance that exchanges accidental disability and death for money; for example: critical illness insurance is insurance that exchanges serious illness for money. Insurance is divided into four dimensions: financial management, legal, medical and product.

1. Financial management When many people think of financial management, their first thought is the financial products sold by banks. In fact, this is a big mistake. The so-called financial management is to manage your money well. The purpose of financial management is nothing more than to maintain and increase the value of money. To put it bluntly, it means not to manage less money or lose money. There are many financial management tools on the market, such as: stocks, funds, futures, currencies, funds, bank bonds, insurance, etc. Insurance is different from other financial instruments. The function of other financial instruments is to make money more, but the function of insurance is to prevent money from becoming less.

Therefore, insurance tools play an irreplaceable role in family asset allocation. If any financial management expert provides clients with a financial plan that does not include insurance, we can only say that this financial management expert is an idiot.

2. Legal The legal attribute is the most important attribute of insurance, because insurance is a sum of money fixed by a legal contract. Insurance is a certain amount of money determined by law in the uncertain days in the future. Only insurance can do this. This is the certainty of insurance. The moment you sign an insurance contract, the insurance company writes in black and white the money that it has agreed to pay you in the future, guaranteeing that it will be paid to you in the future. This certainty is also the greatest charm of insurance.

3. Medicine This mainly involves critical illness insurance. Before this, human medical methods were underdeveloped and many diseases could not be treated. If you got a major illness, you would basically wait to die. But with the development of medicine, many diseases are not diseases. Diseases that were originally fatal can be cured by taking just two pills; diseases that were previously helpless can be cured with artificial hearts or even one-body organ transplants. It turns out that you will die if you get a serious illness, so people only need life insurance and can exchange money after death. Many diseases can't kill people, but they can still live after being treated by a doctor. Therefore, insurance that allows people to exchange money for illness has emerged, that is, critical illness insurance. That's why Dr. Bernard, a heart surgeon in South Africa, invented critical illness insurance. Therefore, critical illness insurance is inherently inseparable from medicine. It is the product of the perfect combination of modern medicine and the contractual mutual aid system of insurance. For major illnesses and minor critical illnesses in critical illness insurance, you need to be diagnosed with the disease, or reach a certain state, or have some kind of surgery before you can get compensation. Diagnosis and surgery are all the doctor's business. If the doctor says that you meet the insurance conditions, the insurance company will pay out; if the doctor says that you do not meet the conditions, the insurance company will not pay. Therefore, the medical dimension is a very important attribute of insurance. Not only that, there are differences between insurance-related medicine and traditional medicine. Clinical medicine focuses on the patient’s current health, while insurance uses underwriting medicine, which focuses on the possibility of the insured getting sick in the future. For example, if a friend discovers a thyroid nodule and goes to the hospital, the doctor will tell him to go back and eat well, sleep well, don't be tired, don't stay up late, play less mobile phones, and have regular physical examinations. However, the insurance company will say to you: Sorry, we have decided to deny you insurance in your case, and you cannot participate in the insurance, because your chance of getting thyroid cancer is greatly increased than other people.

4. Products If a customer wants to join a contractual mutual aid system such as insurance, he first needs to choose a product to purchase. There are more than 80 insurance companies in China with more than 20,000 insurance products. Many insurance agents have only learned about their own company's products and have never seen the products of other companies, so they claim that their own products are the best. In fact, Chinese agents are also quite miserable, because the insurance products are getting better and better, and many customers feel that they will suffer a loss when buying insurance, so they mostly adopt a wait-and-see attitude. Although in theory, the earlier you buy insurance, the more cost-effective it is, with cheaper rates and longer coverage. However, insurance products are changing with each passing day, which always gives customers a dazzling feeling. They look higher and higher, and they always feel that the products that have not been released are the ones that have not yet been launched. The best product. If you keep waiting like this, what you end up waiting for will definitely not be good insurance. The price of insurance will definitely become more and more expensive until you can no longer afford it or until your physical condition makes it impossible to buy insurance at all.

Therefore, as an insurance agent, you must be professional in the four dimensions of financial management, law, medicine, and products. If an agent does not understand financial management, the meaning and function of insurance, nor the law, he or she may even have never read the insurance clauses or the insurance law.