Financial planning is one of the many concerns that most people have as the COVID-19 health crisis continues onward throughout the world. While there are already worries over potential welfare costs and medical expenses, many people are also dealing with unemployment and business interruptions. In times like these, we all hope that our insurance policies will cover us.
So, do you have coverage?
And if you do, are you sure it’s enough? “Sadly, so most individuals who are trying to save money only begin to consider purchasing insurance coverage by the time it is already too late”, says financial advisor Richard Meyer Cayne of Meyer International and Meyer Asset Management ltd. “If you do have insurance already, it’s important to make sure you are fully covered and protected.
What is COVID insurance?
Many countries already have nationalized healthcare programs in place while others do not, and even those countries that do have a nationalized healthcare structure may not provide convalescence care, policies for extended hospitalization or coverage for certain treatments. As a result of this, many insurance providers have been pushing so-called “coronavirus policies” that provide coverage for disability, medical care and death benefits.
As Richard Cayne will tell you, with COVID-19 as their primary focal point, these insurance policies purport to provide a safety net for the underinsured or uninsured who have concerns about the potential ramifications of falling ill with coronavirus. Unfortunately, the true effectiveness of some of these policies has fallen into question. Will they ultimately pay out on the claims that are filed or add to the economic burdens and bureaucratic headaches towards those impacted. In many instances (due to the fact that COVID-19 is an infection), many insurance companies may analyze claims with scrutiny in an effort to find anything that might justify a denial of coverage.
Are you already covered?
Before you jump onboard these stand-alone COVID-19 insurance policies, it is important that you first look over your existing coverage to determine if it already provides enough to cover your needs, in a worst case scenario. You should be covered already if you have employee coverage or coverage through a national healthcare company.
“Many government healthcare providers,” says Richard Cayne of Meyer Asset Management ltd, “as well as private insurance companies, have already taken the necessary steps to ensure that most individuals’ present healthcare coverage will provide you with everything you require in the unfortunate event that you contract coronavirus sometime in the future”.
Richard Cayne believes that the real problem ultimately lies in unemployment and business interruptions. If you’re a business owner who has seen their bottom line affected by the COVID-19 pandemic (which is to say- almost all businesses) it’s imperative that you make sure your insurance policy covers a situation such as this and that these matters are discussed with your insurer. Sadly, there are many policies out there that cut major corners on coverage when it comes to something as obscure as a virus outbreak.
Should you get insured now?
Contrary to what you may think, it’s never too late to get insured. Financial planning is not always a long-term game that requires you’ve been saving money your entire life, as Richard Cayne of Meyer International can tell you. You also don’t need to break your bank account. Naturally, though, you need to ensure that you are receiving the coverage that is right for you. Reliable and stable insurance coverage that will pay out claims and services if needed.
If you need help deciding which insurance (and how much) you may need or who your best options are in insurance providers, then it’s critical that you speak with a trusted financial consultant like Richard Meyer Cayne of Bangkok, Thailand. When it comes to financial planning, he’s second to none.
Richard Meyer Cayne
Richard Meyer Cayne of Asia Wealth Group Holdings, the Meyer Group, Meyer Asset Management and Meyer International Ltd has been involved in wealth management planning for decades. Originally born in Montreal Quebec, Canada, he later relocated to Tokyo, Japan for over 15 years and now resides in Bangkok, Thailand. While he runs the Meyer Group and serves as the high credibility CEO of Asia Wealth Group Holdings Ltd, a London, UK Stock Exchange-listed Financial Holdings Company, as well as the Managing Director of the Meyer Group of Companies www.meyerjapan.com. and has additionally been the managing director of multiple organizations that specialize in helping high net worth individuals with succession planning . Having worked with clients all over the globe with everything from portfolios to bonds to mutual funds to offshore investing to investing in retirement for your golden years, Richard Cayne of Meyer International can help you invest the right way and protect your cash.Richard has been a financial advisor involved in wealth management planning solutions and asset management in Asia for over 25 years and while living in Tokyo, Japan, he assisted many high net-worth Japanese families create innovative international tax and wealth management planning solutions. The financial holding public company of which he is CEO can be seen at Asia Wealth Group Holdings Ltd or the stock exchange link: https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=AWLP Asia Wealth Group Holdings Ltd – Richard Cayne Thailand. Meyer Asset Management Ltd has been in the wealth management space since March 2000 and uses fundamental analysis along with modern portfolio theory. His image worldwide as a professional advisor has been sterling and he maintains a firm command and understanding of all things finance-related.