Luke 4:23 reads:
And He said to them, “No doubt you will quote this proverb to Me, ‘Physician, heal yourself! Whatever we heard was done at Capernaum, do here in your hometown as well.’”
Today, the phrase “physician heal yourself” has come to mean that before one attempts to correct others, he should make sure that he isn’t guilty of the same faults. Literally, a physician would find it difficult to examine and cure himself. But guess what, the human body is capable of healing itself.
The human body has two divisions in its natural immune systems, the general or non-specific and the adaptive or specific systems. In the general immune system, the first line of defense is the body’s largest organ, the skin. If the skin is breached, mucus membranes can trap the invading organisms while certain chemicals and proteins kill them. And if penetration is deep into certain organs, like the stomach, acids are produced to make the environment inhospitable to the invaders. White blood cells that engulf and destroy invaders are also fielded.
The adaptive immune system, through antibodies, tackles the invaders that cannot readily be identified by the general immune system. Antibodies attach their receptors to specific invaders and, with the use of their markers, allow the general immune system to recognize and destroy such invaders.
In personal finance, the general immune system is the largest component of wealth and that is savings, more specifically the emergency fund. When factors and events crop up and threaten to wreak havoc in finances, emergency funds rush in to save the day. Emergency funds are great for covering small matters like minor health issues, immediate home/auto repairs, and the like.
For more specific and major money issues, insurance steps in. Significant damage to property like cars and houses are addressed by non-life insurance. Hospitalization issues can be dealt with by healthcare insurance and HMO policies. Disability and dismemberment insurance can compensate for loss of body function or body parts. As you can see, insurance heals finances.
But there is one area that insurance continues to heal where the body stops and that is when the person moves on to the next life. At the moment of its demise, the body together with all of its immune systems sign off. Life insurance, on the other hand continues to heal the loss of a breadwinner and also somewhat eases the accompanying pain with the payout of life insurance proceeds. And depending on certain arrangements, the proceeds can be prolonged and even used as a source of financial healing for the next generation.
The body’s immune system is essential for life. In the same manner, insurance is essential for personal finance.
We, your FinancePH advisors, will be glad and more than willing to help you plan your finances. Our customized financial planning approach caters to each individual needs, budgets and priorities.
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(Originally written by Efren Ll. Cruz, RFP at http://www.savingstips.com.ph)
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