Do practitioners in the cryptocurrency industry need insurance? What is my insurance like. Borrowing Mr. Wu's tweet, I have indeed been buying insurance recently, and it is the type of insurance with a higher limit. Let me also explain why I bought insurance. Firstly, the principle of the insurance I purchased is based on returns, and I won't mention the name. The essence of this insurance is whether I can earn six times the returns from now until "death". In other words, the essence of this insurance is a rolling financial insurance, ensuring that even if I die tomorrow, my family can still have six times the returns I insured. After looking at the details, many friends can calculate it. This is actually a fixed income that my insurance company manages on my behalf. With a coverage of 20 million US dollars, I need to pay a one-time payment of 3.245 million US dollars. After the age of 100, there is no need to look at it. If it is before the age of 100, starting from the second year after my coverage, as long as I die, my family will receive a one-time payment of 20 million US dollars. Of course, I don't want to die. Life still has a lot of meaning for me, and I have many unfinished things. But if I really have a problem, I can ensure that my family won't fall back into poverty because of my death. That's the essence of insurance. Indeed, I still have cryptocurrency assets, BTC, some US stocks, and some fiat currencies, all of which are my legacy. But after my death, I don't know what the cryptocurrency market will develop into, I don't know if Bitcoin will go to zero or higher, and I don't even know if my family can handle my cryptocurrency assets smoothly after obtaining them. I don't know about these, but I know that the $20 million I left them is something they can actually hold in their hands. I know that after my death, they can continue to live in their current state and make the chipmunks less difficult for them. Actually, I think many people misunderstand the essence of insurance. For me, insurance is a hedge against my high-risk investments. I have already bought high-risk assets such as Bitcoin, ETH, BNB, etc. If all my assets are high-risk assets, then once the industry experiences a catastrophic blow, my assets will be worthless. But when I have money, I allocate a portion of my assets for hedging, which is very suitable and cost-effective for me. This insurance was recommended to me by my neighbor in the traditional industry in Singapore. He talked to me for a long time until I finally understood that it was actually an investment in the S&P 500 index. Yes, some friends said that their investment banking was not good, but I think it is still possible. But I am not sure if I have the perseverance and execution to not invest this money, and I also don't know if this money can roll over to 20 million US dollars before my death. It is possible to withdraw funds in advance, but I am not very interested in early withdrawals. What interests me the most is that the private bank in Singapore recognizes this insurance company's insurance. This insurance can be borrowed at 95% from the private bank, which means that as long as I use the funds in the private bank to buy this insurance, I can directly re borrow the 95% of the insurance funds for other investments. Of course, the loan has interest. If you think your profitability exceeds the interest, it doesn't matter. If not, just keep it honestly. I am not a seller of insurance, and I do not recommend any insurance. Today, I happened to see it and I am willing to share my own insurance. Apart from medical insurance (commercial insurance), I bought this insurance to ensure that if one day I really die, regardless of the cryptocurrency industry or the value of my Bitcoin, my family can receive $20 million. Some friends may say about inflation, I'm not sure, but even if it's worse, if I die early, inflation won't increase six times. My family has the ability to manage this money well. If I die late, I believe my ability to earn money can at least beat inflation. This insurance serves as a "guarantee", that's all. So, in my personal opinion, individuals with a total asset value of over $1 million should consider similar insurance and invest 20% to 30% of their funds in a long-term financial plan to ensure that they can hedge their own assets and leave at least $1 million for their family even if they die. The planning of the cryptocurrency industry is becoming increasingly important. Although there are still opportunities for sudden wealth, I don't know if this opportunity belongs to each and every one of us, or if we can all catch it. But when Kang Ge @ tktang88 introduced me to this insurance, what touched me the most was the responsibility of the only labor force for the family. Perhaps before my death, I could earn seven times or more, but this does not prevent me from using a portion of my assets to give my family a fixed $20 million income insurance. This way, even if I suddenly die, my family will have the ability to survive the toughest time.