When the pandemic emerged, most of us did not know what exactly we needed to do.
Whether to fight it or run away from it we had no power to make our own decisions, because, we did not know, what this was.
Even our simplest decisions as to what can we eat, was contested by surprise.
Though the power to decide was thin, we all had one luxury. Maybe, in different capacities, but it was the only mode of support we had. And that was the money we had saved.
The pandemic opened our sight to one of the most oblivious phenomena. "How soon, can our savings deplete". As a result, many organizations went far beyond their comfort zones to assure the families of their teams are kept well. And granted many allowances, including quarantine facilities sponsored at the best hotels.
Fortunately, though under limits, we are functioning as a nation. Our food is sourced, vendors are available, online stores deliver.
From the pinch of salt to the rarest medicine, has now come to us virtually. But, at a price.
During the last several months, after hours of one-to-one discussions, I developed a strategy for my clients. Included with the relevant calculations to help them identify their "Personal Protection Gap".
I know there is a part of Sri Lanka that is still pessimistic in certain long-term strategies, especially, Life Insurance.
But, an ideal strategy is when it serves both the long and the short-term requirements.
Something I learned over the last several months, going from Physical to Digital is that the analysis that the client gets is priceless.
From understanding the capital adequacy ratio to understanding the strategies increase their life insurance every year, by paying the same premium, many understood, that Life Insurance is the best asset they can ever get.
