Regular review of your policies is more important that taking them out in the first place

Unfortunately a lot of people and financial advisers are guilty of taking out/selling a policy, paying the premium and forgetting about it.

For a financial adviser there is a strong incentive to getting a client to take out a policy because of fairly large amounts of commission being involved. You have to review your financial plan/policies regularly in order to ensure you are not over or under-insured. It gives reasonable assurance that if the dreadful day come, you can rely on this financial product to put you back in the same position as before this given incident, if that is possible.

When it comes to RA's, you will never by accident achieve your long term retirement dreams. Retirement dreams gets achieved by meticulous planning and not by taking out an RA one day and hoping 20 years later the policy will be sufficient.

No great thing ever happened by chance and if you do not take time to review your financial plan, you are hoping on just that.

With short term insurance it is also very important. You must take time to make sure the assets you acquire over time, such as new household items, additions to the building of your home is included in the sum insured of your content/buildings. Otherwise you make yourself vulnerable to under-insurance which can completely destroy the assets you have worked hard for over a lifetime.