How do you manage life’s daily unpredictable events in your health, travel, home, life or car? Can you foretell when you will need your health insurance to cover an issue that you did not plan for and are not prepared to cover? What about an issue with your home or car? How much would it cost you to self insure and cover an incident on your home, car or your health? Would you consider it wise to use your emergency funds and retirement saving as your personal insurance policy? Yet many executive and senior managers ask their execution teams to protect the variability of every task and milestone and deliver each one on time so that the entire project will be delivered on time and on budget.
We all purchase insurance to protect against the variability that is a fact of life. When life happens – and it happens to everyone – aren’t you glad during those times that you were smart enough to listen to that inner voice and buy the insurance policy that you knew would protect you and your assets from the unknown? Think about it this way.