Thanks to my Dad, I’ve long prided myself on being tuned into all things financial. He was a great stock picker and real estate investor and I’d like to think a tiny bit of that rubbed off. But when it came to life insurance, I did what most people do: buy a term policy and forget it. The only problem with term is that 99 percent of all term policies lapse without paying a claim. This is good because you’re still alive, but the cost of replacing a term policy expiring when you’re a senior is breathtakingly prohibitive. Knowing what I know now, I would have opted for a whole life Indexed Universal Life (IUL) insurance plan. Here’s why.
We all insure our cars and homes. Some of us even insure our pets. But when it comes to life insurance, not so much. Why not? This article debunks myths that may keep you from taking advantage of the living benefits of life insurance.
Life insurance can ease stress for loved ones, pay off debts, save your family home and cover end-of-life expenses. Here are two quick rules of thumb for deciding how much you need.
Have you thought about your retirement goals and how much money you will need to achieve them? We’re in the midst of some dark financial clouds that call for new approaches to saving and investing. To see how you can set up your retirement plan based on compounded growth, safety and tax avoidance, schedule a free 30-minute zoom call with one of our financial planners.
Life insurance is not just about death. It’s a financial investment decision that can significantly impact your loved ones’ lives when you’re no longer there to provide. Here are six mistakes to avoid when choosing a life insurance plan.