Dylan Lim

Financial Services Consultant

Story

“Insurance is a waste of money”, this is what I have always heard from my parents when I was a kid, and it has stuck with me ever since. Many people know me as a cheerful and happy-go-lucky person. However, my growing up days will be a nightmare if anyone ever dreamt of it.

Since young, my family has always been financially unstable. They had the impression that financial consultants are trying to deplete our already limited monies by getting us to purchase these “unnecessary” policies.

Things took a nasty turn in 2005…

My mum was diagnosed with breast cancer which required immediate treatment. As my family was not protected, my dad needed to pay for the medical expenses and treatment cost using his hard-earned money.

I had to resort to buying snacks in bulk and then selling in school to earn some pocket money. After my mum’s cancer went into remission, and our savings were emptied to foot the medical bills, we thought the worst was over. That was certainly not the case.

Somehow my parents, especially my dad, still did not go about his insurance planning proper after the episode with my mum. It was as though someone was watching whether we have truly learned our lesson, and if we have not, to teach us the hard way.

When I was 14, my dad suffered from a heart attack which led to heart failure. The doctor strongly advised him to take time off work indefinitely. Otherwise, it would greatly damage his health and even permanently.

With no insurance in place and being the sole-breadwinner, he had absolutely no choice but to continue working, to pay for his treatment and provide for the family. In order not to be a burden to my family, I stopped taking allowance and worked part time from then. Taking whatever jobs available after school while juggling my studies.

Unfortunately, my dad’s heart gave up on him when I was 17. The only things he left behind were his car with its outstanding loans. My family emptied our already depleted bank account to give our dad his last send-off. After the funeral, there was barely any money remaining to tide my family through this difficult period.

As my siblings and I were still studying, my mum had to return into the working world, after being a housewife for over 20 years. Having just a ‘O’ Levels certificate with no skillset, coupled with the limitation of only being able to work short hours in order not to exert herself too much to aggravate her cancer, the options were scarce.

The only job opened to her was to become a cleaner with very minimal salary. She had no option but to accept it as there were still bills to be paid.

No children will ever want to see their mother suffer that way. Therefore, I gave allowances to my mum every month from my part-time job, to supplement the family’s expenses.

Whenever I received any bursary from my schools, all the proceeds would be passed on to her. That was my way of making sure she does not have to work that hard.

I reduced my expenses to the extent that I only ate rice with curry sauce or even resorted to skipping meals regularly. Whenever I eat with my friends, I had to get the cheapest item available. Affording the cheapest meal on the menu in MacDonald’s’ was a luxury to me.

After all these major episodes in life, my perspective of financial planning changed greatly. If my family had believed in insurance planning from the start, things would have turned out on very differently.

 

  1. My dad would not have to work so hard to pay for my mum’s hospitalisation expenses when my mum had cancer, depleting our entire family’s savings.

 

  1. My dad would not have to work anymore after his heart failure. He would be able to rest with a peace of mind not worrying about money, and instead spend his remaining years doing the things he enjoys.

 

  1. My mum would not have to be forced to return to the work force, not even having enough time to grieve the loss of her husband.

 

  1. My family would not have to bear the emotional brunt of losing the sole breadwinner suddenly, without any assets passed down to support the family.

Therefore, I joined this industry with the motivation of not wanting to see people or their children to go the same fate as me. With those experiences, it taught me that the greatest thing you can leave behind in an event of an unfortunate passing is the proceeds from a life insurance policy.

Even though it cannot bring someone back to life, but it will ensure those who continue to live on can do so with dignity and not poverty.

I can confidently say with conviction that insurance is certainly not a waste of money.

Dylan Lim

Financial Services Consultant

Story

“Insurance is a waste of money”, this is what I have always heard from my parents when I was a kid, and it has stuck with me ever since. Many people know me as a cheerful and happy-go-lucky person. However, my growing up days will be a nightmare if anyone ever dreamt of it.

Since young, my family has always been financially unstable. They had the impression that financial consultants are trying to deplete our already limited monies by getting us to purchase these “unnecessary” policies.

Things took a nasty turn in 2005…

My mum was diagnosed with breast cancer which required immediate treatment. As my family was not protected, my dad needed to pay for the medical expenses and treatment cost using his hard-earned money.

I had to resort to buying snacks in bulk and then selling in school to earn some pocket money. After my mum’s cancer went into remission, and our savings were emptied to foot the medical bills, we thought the worst was over. That was certainly not the case.

Somehow my parents, especially my dad, still did not go about his insurance planning proper after the episode with my mum. It was as though someone was watching whether we have truly learned our lesson, and if we have not, to teach us the hard way.

When I was 14, my dad suffered from a heart attack which led to heart failure. The doctor strongly advised him to take time off work indefinitely. Otherwise, it would greatly damage his health and even permanently.

With no insurance in place and being the sole-breadwinner, he had absolutely no choice but to continue working, to pay for his treatment and provide for the family. In order not to be a burden to my family, I stopped taking allowance and worked part time from then. Taking whatever jobs available after school while juggling my studies.

Unfortunately, my dad’s heart gave up on him when I was 17. The only things he left behind were his car with its outstanding loans. My family emptied our already depleted bank account to give our dad his last send-off. After the funeral, there was barely any money remaining to tide my family through this difficult period.

As my siblings and I were still studying, my mum had to return into the working world, after being a housewife for over 20 years. Having just a ‘O’ Levels certificate with no skillset, coupled with the limitation of only being able to work short hours in order not to exert herself too much to aggravate her cancer, the options were scarce.

The only job opened to her was to become a cleaner with very minimal salary. She had no option but to accept it as there were still bills to be paid.

No children will ever want to see their mother suffer that way. Therefore, I gave allowances to my mum every month from my part-time job, to supplement the family’s expenses.

Whenever I received any bursary from my schools, all the proceeds would be passed on to her. That was my way of making sure she does not have to work that hard.

I reduced my expenses to the extent that I only ate rice with curry sauce or even resorted to skipping meals regularly. Whenever I eat with my friends, I had to get the cheapest item available. Affording the cheapest meal on the menu in MacDonald’s’ was a luxury to me.

After all these major episodes in life, my perspective of financial planning changed greatly. If my family had believed in insurance planning from the start, things would have turned out on very differently.

 

  1. My dad would not have to work so hard to pay for my mum’s hospitalisation expenses when my mum had cancer, depleting our entire family’s savings.

 

  1. My dad would not have to work anymore after his heart failure. He would be able to rest with a peace of mind not worrying about money, and instead spend his remaining years doing the things he enjoys.

 

  1. My mum would not have to be forced to return to the work force, not even having enough time to grieve the loss of her husband.

 

  1. My family would not have to bear the emotional brunt of losing the sole breadwinner suddenly, without any assets passed down to support the family.

Therefore, I joined this industry with the motivation of not wanting to see people or their children to go the same fate as me. With those experiences, it taught me that the greatest thing you can leave behind in an event of an unfortunate passing is the proceeds from a life insurance policy.

Even though it cannot bring someone back to life, but it will ensure those who continue to live on can do so with dignity and not poverty.

I can confidently say with conviction that insurance is certainly not a waste of money.