Guru Speak

There is no panacea that can overcome all fears, but in terms of the financial crisis, there are options that at least can protect and build your future.

You may rightly ask: "The global financial crisis is hitting hard, so why do I have to care about life insurance now?"

Although it has been around for a long time, most people forget that life insurance plays a critical role in uncertain times.

But it is actually during these uncertain times that life insurance provides certainty, and that's why we believe this is precisely the right time to start to replan your life and the lives of those you love.

You can reach the mountain peak only when you start your first step.

Here are a few tips for taking control and creating that certainty in a part of your life.

WHO: Choose the right insurance company

In times of financial uncertainty, there is a shift to quali¬ty as customers choose brands they can trust to be financially strong and around for the long term. So choose an insurance partner that has credibility, financial stability and quality aftersales service.

You already have a lot to worry about in life, so buying an insurance policy should "ensure" you can sleep tight every night. You don't want to find out the insurer you chose turned out to be a total nightmare, right?

WHAT: Choose the right product that meets your needs

Good insurance companies offer many types of lifeinsurance policies to fit your life stage. No matter how old you are or how much coverage you want, it's important to ask yourself:

"Do I need to protect my wealth (with health insurance, critical-illness insurance or death coverage), or do I need to accumulate more wealth (with savings and retirement plans)?"

Thoroughly scrutinise the kind of policies that are on the table and pick the one that suits your needs the most.

You have to know the product you buy; otherwise, you may end up having a higher premium burden than necessary for the coverage you require.

HOW MUCH: Choose the right level of coverage

Finally, be realistic about how much coverage you want, how long you will need it and what your capability is for paying the premiums. Consistently failing to pay your premiums will not only cost you unnecessary expense, but also put you on the verge of fear again should uncertainty arise.

What to do when all is set but what is left is: "I already have a long list of expenses"?

Most people have coffee, ice cream or cake every day. The price of a cup of coffee ranges from Bt20 to Bt120, ice cream around Bt10 to Bt100 per scoop and cake maybe Bt10 to Bt130 apiece. You can finish the cup in a few minutes or so. But you may not realise that Bt20 a day can save you and your family when a rainy day hits.

Do you want to waste five more years moaning about how much financial trouble you may have? Or would you rather feel calm and be ready to live your life happily even if a crisis hits again, because you're already well prepared?

The answer is still one magic word: it is up to "you" to decide.