#113: When (if ever) does whole life insurance make sense?

from Financial Coaches Network - The Podcast: Build your Financial Coaching Business · host Joshua Escalante Troesh, Garrett Philbin, Amelie Riendl, and Emily Blain

Join Josh and Amelie to talk about Whole/Universal Life Insurance! As Amelie was studying for her AFC exam, she found herself wondering when–if ever–whole life insurance makes sense. Top takeaways: First question to ask: do you have a temporary or permanent need for insurance? Second question: have you run out of all other tax-sheltered accounts (IRA, 401k, 529, etc.)? There are some long-term care insurance policies that are hybrid whole life/long-term care and some that can be riders on other policies. If you have a family history/higher likelihood of cancer, it may make sense to have whole life with potential additional benefits/ability to buy more. Every tool has a place; our job is to help figure out if the tool is being used for the correct purpose. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow