032: How to Best Utilize Life Insurance

Many people buy the wrong life insurance products. It’s easy to make bad decisions when you don’t have a concrete financial plan in place, and as a result, you may end up purchasing products that don’t cover all your needs.  There are no “bad” or “good” types of life insurance products. There are simply insurance products that do or don’t serve you, and a proper financial plan ensures that you and your family have access to the right coverage when you need it.  In today’s episode, we walk through the basic types of life insurance products, the key questions to ask when purchasing a life insurance policy, and how to identify potential gaps in your life insurance coverage. In this podcast interview, you’ll learn: What makes term life such a popular option for young families. Why whole life insurance was so popular 15-20 years ago - and why it may (or may not) be a good fit for you and your family.  What differentiates whole life from permanent life insurance - and why you need a clear strategy to utilize either.  What makes indexed universal life insurance so popular with businesses. How to customize life insurance products to meet your unique needs. Show Notes To get access to today's show notes, including links to all the resources mentioned, visit TheRetirementTrainer.com/32 How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com