Have you ever yawned while paying your insurance premium? Have you ever completely forgotten what you were doing while you were in the middle of a conversation with your insurance agent? Have you ever tried to read an insurance policy and instead fallen asleep with the boring document of doom resting on your stomach? If you have, it's no surprise - because insurance is boring. If you find yourself lulled into a state of not caring thanks to the dull nature of insurance then there's one prescription that can get you back on track: You need to make insurance exciting.
Think About the End Result
Instead of thinking about how insurance works, think about what it does. A home insurance or flood policy may completely pay for the rebuilding of your home after an insurable incident. A home, flood or renter's insurance policy may replace the value of all the property you have in your home. An auto insurance policy may get you a new car if yours is totaled or stolen. Liability coverage in your home, auto and renter's insurance policy can keep you from having to pay the medical expenses of an injured individual. The list of things insurance accomplishes goes on and on.
The benefits of insurance are the key to the product's excitement factor. In order to put that into perspective, look around, you - see all that stuff? If it's insured, it may be replaced under the right circumstance. Oh, and see your savings account balance? Beyond paying for deductibles and anything over your limits, that will be preserved as your insurance policies spend money so you don't have to.
Find the Hidden Gems
Insurance policies often have benefits that you don't even realize they have. Finding these benefits can make insurance exciting as it opens up a whole new world of opportunity for use. For example, have you checked your health insurance policy to see if it offers any fringe health benefits such as massage or acupuncture? Or, did you know that you may be able to borrow from the cash value of your life insurance policy without paying taxes on the loan? And, if you have a variable policy or indexed policy, did you realize that you could follow the market and change your life insurance policy's subaccounts to help the cash value grow more?
Sometimes, the most talked about benefits of an insurance policy are not the most exciting. Look at your policies - even if you have to use toothpicks to keep your eyes open during the process - and really study what your benefits are. You are paying for the product after all, you may as well understand what you can get out of it.
Consider the Alternative
Have you ever noticed how something as mundane as grocery shopping becomes exciting when you are hungry and don't have food in the house? Well, insurance is no different. One of the best ways to make insurance exciting is to see how you would feel if you didn't have it. Go ahead and take a moment to imagine the worst - and imagine that it happens without the benefit of an insurance policy to make you financially whole after the potentially devastating loss. Imagine you have no car, no home and no money. Imagine how that would affect your life, and then remind yourself that you have insurance and allow the sweet feeling of relief to flow through your veins. Exciting, no?
The Bottom Line
Insurance doesn't have to be an electrifying product to be a necessary and useful one. Sometimes, insurance is the protective vehicle that allows you to indulge in your thrill-seeking side while limiting the financial consequences, such as when you purchase travel medical insurance with an adventure sports rider. Because insurance isn't meant to be an exciting journey in itself, it's designed to make your life's thrilling journey a little easier and more financially sound.