Insuring the Machine

In today’s world of increasing complexity, I wanted to share a simple concept I learned early in my life insurance career which helped me immensely. It is a reminder of what we do and why we do it.

Imagine that you had a machine in your garage that printed money and anytime a bill is due, or you needed cash, or had an emergency and needed money, you could walk into your garage, flip a switch, and it would instantly spit out exactly the money you needed. If that machine were to break, you would be inconsolable! The question is: Would you insure that machine? Of course, you would, you would insure it for as much as you could because that machine is priceless.

Is this not the reality for our clients? Every day, they get up and go to work to earn the money they need to live. They are the only machine that provides for their livelihoods. If they are unable to work due to illness, injury, or death, that cash flow dries up. This, as you know, causes immense financial stress and difficulties on top of the grief that they and their loved ones would be feeling.

Think about what happened during the pandemic. Tragically, since March of 2020, over 1 million Americans have died from COVID-19, often leaving their families destitute. If you asked them or their families in 2019 what they expected the next few years to look like, certainly tragedy was not likely part of their 3-year plan.

Life insurance, Income Protection, and Long-Term Care products protect people and guarantee that the finances they and their loved ones rely on will be there when they need it, even when tragedy strikes. That is why what we do is so important. We are helping people plan for the unimaginable.

First American is here to support you. We will help you deliver creative insurance solutions to preserve and protect your clients’ wealth and legacy. Reach out to us and we will find the best solutions for your clients to make sure that the machine continues to supply the cash flow that they need in every situation.

—  Peter Kaplan, Vice President