A knowledge gap is a divergence between what should be known and what is known. Most people tend to avoid things and subject matter they know little to nothing about.
Knowledge gaps also affect our decision-making process. One cannot make the right decision without being equipped with all the knowledge and information required. A sound decision-making process depends on two essential components; sufficient knowledge to act on and action. Therefore you will just be doing a guessing game.
Lack of knowledge can hurt individual and communal progress. Equipping yourself with the right expertise and creating within yourself the desire to know more can go a long way to benefit you and impact your decision-making process.
For example, if you don’t know about life insurance, you could take it as an opportunity to seek more knowledge on the subject by reading through the widely available materials on the internet. First-time buyers of life insurance always struggle with a big choice during their decision-making process. They often wonder, “What’s the difference between a term life insurance and whole life insurance policy, and which one do I need?” Getting the answers that lead you to buy a policy can keep tragic loss from turning into financial catastrophe.
Most people tend to avoid the unknown because they don’t understand the subject matter. Being familiar with something gives you the edge because you already know what to expect from a particular situation. Fear is one of man’s most primal instinct dating back to evolutionary psychology.
Keep a Lack of Knowledge from Blocking the Path to Progress
Everyone has heard the saying, successful people never stop learning. In this day of information overload, knowledge is becoming its own unique and essential form of currency. Taking the time to learn new things drives us to better adapt to the ever-evolving world.
The skills and knowledge that mattered yesterday might not mean a lot tomorrow. Many people fail to keep up with current events and discoveries that may potentially have significant effects on their lives and those of their immediate families.
Others draw conclusions from general information without going deeper and trying to get more info on the subject matter at hand. This can lead to extremely adverse ramifications.
Before deciding on something in life, ensure you have full information about the topic. Take some time to do some research and close any knowledge gaps you may have. Identifying and closing knowledge gaps will lead you on a path to personal and community development.
For example, if you know the difference between whole life insurance and term life insurance policies, you will not only choose the one that fits your current insurance needs. You can also explain the difference to friends and family to assist them in making the best decision based on their financial needs too.
Conclusion
The life insurance market is always growing, with insurance companies now offering different plans raging from wealth and investment creation to savings and protection. Take some time to equip yourself with the right knowledge and be updated on new and improved covers. The more knowledge you have about the subject matter at hand, the less likely you will make the wrong choice. Lack of knowledge can lead to expensive mistakes, such as buying a premium insurance cover you don’t need.