Kevin C

Insurance to me allows me to hedge the risk of an accident by paying premiums each month in order to receive coverage in case I get in an accident that has a huge monetary cost.  This comes in handy when I go to the hospital and I’m able to pay my expensive medical bill.  Right now the hospital isn’t a big concern for me because I’m still young and in my prime.  However once I am older and have health problems, I will appreciate my policy covering any health problems like diabetes.

Diabetes runs in my family.  Plus I love to eat sweets.  It is likely that I will develop diabetes.  This means I will need a way to pay for prescriptions in the future.  Fortunately there are numerous insurance carriers that have policies at competitive prices.  My Dad pays for his prescriptions at CVS Pharmacy using his insurance.  Right now I’m on my parent’s health care plan.  However once I graduate from college my parents expect me to go out and get a job that provides me health insurance.  In fact I actually have considered working for an insurance company after graduating from Virginia Commonwealth University.

This past year during my freshman year of college I got involved with the risk management and insurance academic fraternity, Gamma Iota Sigma.  I volunteered at numerous events through them like Continuing Education classes and attending Richmond Claims Association dinners.  Through these events I have met many insurance professionals and have talked to them.  These interactions have always left a positive imprint on me.

Most of the people I have interacted with worked in the claims part of the industry.  They find fulfillment in their jobs by listening to people and figuring out whether there issue is covered in the insurance policy.  Some of them see this as reinvesting money into their communities.  I see them as detectives in their jobs.  Investigating is something I truly enjoy doing.

Ever since I was a kid I have always been analytical.  I enjoy trying to find details to understand what truly happened.  My curiosity extends to investing in stocks.  You see I enjoy trying to find companies that meet my investment objectives.  I know insurance companies also have investment objectives.  Insurance companies invest their premiums in order to pay out future claims.  Sometimes insurance companies get paid to invest their policy holder’s money because you pay out less claims than premiums earned.  This is what really attracts me to insurance.  Warren Buffet bought insurance companies and used their premiums to buy other outstanding businesses and stocks like Geico and Wells Fargo.  These businesses then pay dividends that can be used to cover the costs of future claims.  Insurance companies do more than just make money.  They provide peace of mind to their policy holders when catastrophe strikes.

At a Gamma Iota Sigma meeting, we had a financial advisor from Prudential come visit.  He told us what made him want to become a financial advisor.  His story was about a friend of the family who passed away early with no savings or life insurance policy.  This ruined this poor guy’s family because the man’s wife had to get a job for the first time in 20 years while raising two kids.  A life insurance policy is very important because it provides financial support for your loved ones until they can get back on their feet.  Fortunately I know my Dad has a life insurance policy to cover my family in case something happens.  The stuff I learned at these Gamma Iota Sigma meetings really peaked my interest.

The president of Gamma Iota Sigma was a role model who I looked up to.  He graduated this year and got a job with Willis Towers Watson.  His name was Granton Clem.  Granton was a transfer student from community college who joined Gamma Iota Sigma his junior year of college.  He became president in the fall of 2015 and worked an internship with Willis Towers Watson that is now his full time job.  I plan on getting myself an internship like him around my junior year so I can get myself a job offer once I graduate from Virginia Commonwealth University.  Granton invited me to volunteering events and Gamma Iota Sigma Socials.

At these socials I have met other Gamma Iota Sigma members and alumni.  All of the alumni have careers at Insurance companies and are working for the CPCU (Chartered Property Casualty Underwriter) designation.  One of the alumni I met worked for Liberty Mutual Insurance.  Now I haven’t thought much about Liberty Mutual until I got hired at Under Armour.  Even though I am only a part time worker, Under Armour made me designate someone as my beneficiary in case I pass a way on the job.  Apparently they paid for a life insurance policy in case I die so my family would be able to survive.  I just selected my Dad in case anything did happen to me.

Other Enhanced Insurance articles related to Forms of Life Insurance:

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Permanent Life Insurance

Term Life Insurance

Universal Life Insurance

Variable Life Insurance

Variable Universal Life Insurance

Whole Life Insurance

Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.