Untimely death – No one is protected from it


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Yesterday’s TV caught my attention while Jessica Soho was featuring a young man who died of liver cancer.

Then her story switched to an award-winning celebrity chef Hasset Go who happened to be the brother of that young man. He looked familiar to me being a GMA7 audience myself.

[Note: being an avid audience of the company, among other reasons, was a determining factor for deciding months back to get minority (very few affordable) shares  🙂   of the company and I did not sell even it went down around 20% anyway it gave me about 4% in dividends, the highest among its peers;  and as the PSEi closed at 7,324.40 today, GMA7 has recovered to minus 2.21% and this will rally further as Presidential election advertisements add to its revenues. Besides, the company is further assured that Tape, Inc can continue to pay its block time given the #aldub phenomenon.]

Heaven’s strenght

It turned out that Hasset contracted the same illness.

From the handsome man, the next footage that followed was devastating. Shown was a frail person, bedridden and hardly able to speak. But behind that man was a strong spirit. Still able to motivate the viewers especially those of same medical condition and his family. I believe that strength must’ve come from heaven!

Hasset demonstrated a very powerful message how an unwavering faith should look like despite his seemingly hopeless condition. As his mother Lorelei narrated, Hasset told them “lahat ng ito pagsubok lang. Isipin mo na lang na may Panginoon. Siya ang nagko-control sa ating lahat. Hindi natin alam kung ano’ng plano niya sa family natin. Basta huwag lang … (tayo) bibitiw “

Unfortunately, Chef Hasset Go’s feeble body released its final breath on October 24, 2015 (two days before my birthday). He was 29. [see full story here or watch the #KMJS video below]

Who’s to blame?

Some people will perhaps wonder.

Is Hasset or his family(parents) to be blamed for what has happened to him and his brother who died earlier and another brother who is still alive but with liver condition that might also lead to liver cancer?

But who are we to judge, anyway? Jesus of Nazareth who suspends judgment until that day comes has simple answer: Conditions like this are not measures of unrighteousness, they happen so that people can witness the works/power of God who has infinite wisdom unfathomable by man and calls for repentance instead so people He loves, turn to Him. (see Luke 13:1-5, John 9:3, Philippians 4:7, Isaiah 55:8-9, Romans 8:37-39)

Equally important

Equally important message to take note of in this story is:

Untimely death.

This is so real. It just happened to Chef Hasset. It can happen to anybody.

Not necessarily a liver cancer. It can be any type of cancer (or other critical illness) – all of us have cancer cells anyway! If a breadwinner like Chef Hasset catches illness and dies, imagine how dependents can cope with the loss not just emotionally but more so financially. Like any parent, these are my apprehensions too.

I’ve got two daughters.

In fact, I stated in separate post [click this to see it in full] such concern in case during their adult lives they continue to ask for money, that will be very dangerous in their lifetime.  I’d like to cut that dependency on their parents / anybody eventually. I noted the problem that:

“I may not have all the time(in this world). The Maker might call me home anytime! (like how he called Chef Hasset, He called him home too soon at the age of 29 only). It’s because nobody can know his end-time and the manner his life ends here on earth. My Maker has the exclusive knowledge of that. Nor anybody can know if a debilitating illness can cripple him and stop being productive to continue earning active income. Nobody, not anyone here on earth can tell. Only God knows.”  [click this to see the full post].

If untimely death occurs like that of Chef Hasset or a debilitating illness comes to me (knock on wood!), that’s the end of story of providing dependents with the use of active income from employment or business. But what if there’s no passive income to continue with where active income stops? Obvious answer is: the trouble starts!

The sooner my kids realize these possibilities. That these are facts of life (click image above to play the video).  The more engaged I guess they will be in the areas specifically of saving and investing. I believe they can juggle with these concepts together with kid / teen stuff. Saving and investing only because kids have no dependents yet and no justifiable reasons for parents to get them a life insurance. If ever a kid would need an insurance it should  be health insurance because a kid can get sick from time to time and would need medical attention.

Welcome Insurance!

No matter how irreputable the insurance industry is among most Pinoys, because of some scrupulous people, I’m of the view that insurance is still very important for PROTECTION primarily that breadwinners can use.(I wish Chef Hasset had some life insurance and medical insurance for liver cancer to get the surviving family members upto speed while grieving for his demise). That’s what insurances are built for. Protection!

Unless of course you are already “self insured.”

By that I mean these: If you get sick (mild upto critical), you have your OWN money to cover medical expenses until you become well again, regardless of how many times sickness and healing strike.

Check out  the Rappler graphics below to find out. How much do you need as health insurance to get you covered when an illness catches you? Not part of the graphics but just in case of disability, how much income would you need monthly to go on with your life and responsibilities?

What will work for me is (1)self-health insurance of about 3Millions kept in a ladderized time deposit to bond funds (fixed income instruments). Approximately same amount for my dependents – of course I will not tell them I have earmarked certain amount for their sickness as it might offend them. (2) Income continuation of so much until I’m 100 years old.

Of course, that’s the simplest approach  as far as my protection is concerned. I probably won’t care much about growing money if it’s too much already. So even bank accounts will just be fine.

This is the reason why I do not confuse insurance(protection) with investments.

I do not have anything against the insurance industry innovating itself offering hybrid products – in fact I already mentioned above that insurance is very important.. But I certainly hope that all practitioners will not confuse especially clueless prospects.

I heard some of customers who subscribed for diversification purposes when they are actually not diversifying their investments; there are also stories of  subscribers who were not actually made aware that they’re in fact “over” protected already but they still signed up for another insurance contract.

Well, if that fits their goals/targets, then I rest my case.

But let me go back. The example I gave above is under the assumption that I have so much money.

The truth is that is not my money story.. yet. I do not have so much money right now. I am still accumulating, trying investing. Sometimes I feel I am accumulating too late for my age –  although in fact there’s still some time. So it’s not tooooo late yet  🙂

Given the chance to go back in time, I would highly suggest to my teenager self what I am passionately suggesting now for my teenage daughters. Because self- insurance is actually not just a concept. Some people have already actualized it.

For most of us, the following will need consideration as protection until such time that you have sufficiently provided for yourself a “self-insurance” 1)health insurance, 2)critical illness coverage (HMO does not cover this automatically; I felt my employer lied to me on this. When colleagues and their dependents started getting cancers, they complained why our HMO won’t cover and employees had to share according to their capacity and dictates of their heart – indeed this is a cruel life because of the broken world! ), 3) life insurance. Notes: Health insurance for all family members. LIfe insurance for breadwinners only. I’m personally not convinced too that someone should be over-insured, it will just be a waste of premium payments.

Feel free to comment if I did miss anything? What would be your insurance (PROTECTION) recommendations and why?

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RIP Chef Hasset Go. May your story continue to inspire people. Condolences to loved ones and friends.

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References:

http://www.gmanetwork.com/news/story/541944/publicaffairs/kapusomojessicasoho/ang-maikli-ngunit-matamis-na-buhay-ni-chef-hasset-go

Chef Hasset Go, Passed Away

http://www.rappler.com/brandrap/45271-interactive-can-you-afford-to-get-sick

For those kind-hearthed: Sa mga nais magpaabot ng tulong sa pamilya ni Chef Hasset Go, maaari ihulog ang inyong donasyon sa mga sumusunod: CITIBANK / Account Name: Hisham Pangcoga / Acct. Number: 8611899735 at METROBANK / Account Name: Lorelei Go Pangcoga / Account Number: 513-3-531-04637-6 – See more here.

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Journey with us as we study and navigate Personal Finance and Investing. Click join button in this facebook group/forum: Parents-Kids Personal Finance and Investing Journey (Parkid-PFI)

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