How Brenda’s Life Experiences Taught Her Insurance is the Foundation of a Financial Plan

Why does Brenda Hiscock believe insurance comes before almost everything else in a financial plan? Her personal experiences explain why.

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Now, because you’ve been through so many major challenges, it probably makes you a better financial advisor in many ways. Like you’re thinking not just about the math, but about real life and how it often doesn’t go as planned. I’ll give you an example. Did your mother have proper life insurance when she passed away?

My mother had, she had no life insurance and four children, and we had absolutely nothing. And had my mother had life insurance, my entire life would be different. Um, on the flip side of that, when I got cancer, I had disability insurance, so I was okay. And so to me, insurance is the foundation of any good financial plan because if you have not prepared for the contingencies, then all of the rest can fall to the wayside very quickly in the event of an unexpected event.

No, it’s so true. And you know, most people are living their life one of one, but you and I get to see hundreds if not thousands of financial plans in people’s lives, and unfortunately, accidents happen. Early death happens. You’ve been through it, for heaven’s sakes. It’s amazing to me how many very intelligent people you meet who do not have proper amounts of life insurance.

I find a lot of entrepreneurs in particular are very weak in this area. They have a successful business. They’re finally starting to get things going, and they don’t have any life insurance. If something happens to them, their family’s in a horrible spot. So I, I’m guessing that you do a very good job of communicating that effectively and really pushing your clients to have the right amount of insurance in place.

Absolutely. I, I think that it is, again, like the foundation of a plan, and it is something that even if the, it’s not something that is part of our engagement, I’m always going to mention, you know, life insurance and what do you have and, and a little needs assessment, especially if there’s children involved, just because it is so incredibly important.