134: Life Insurance with Bruce Komarow

A chat with insurance broker Bruce Komarow about life insurance.    Topics: ⭐️ Term ⭐️ Whole ⭐️ Universal  ⭐️ Blending Types ⭐️ Health Screenings ⭐️ How insurance is regulated ⭐️ How much coverage to get ⭐️ Where and how to purchase ⭐️ Converting Term to Whole up until age 65 ⭐️ Variable Universal for those trying to get a higher return   Takeaways: ⭐️ Term is the least expensive ⭐️ Whole builds cash value and guarantees a payout but is more expensive  ⭐️ Universal is the least expensive way to access a whole life policy but as common as Term or Whole ⭐️ Variable Universal is for people who want to use life insurance as a vehicle to take advantage of stock market growth to get a higher value out of the asset. But, it comes with the risk that the market could take a downturn when the time arrives to redeem the policy. ⭐️ If you’re looking at term with the idea you may switch to whole, be sure to check that the company is reputable and has that option.  ⭐️ Insurance is State Specific. I’m bringing this up because states like California and New York have stronger consumer protection laws. All else being equal, a company that can do business in New York might be a safer option than one that can’t operate in New York.  ⭐️Hot take from Ethan … Life insurance, could be like a mortgage for people who don't "invest" in real estate. A life insurance policy is forced savings and low maintenance.    If you are looking for life insurance… ⭐️ Ask the people around you for recommendations ⭐️ Find a broker or non captive agent ⭐️ Make sure you can afford it   Bruce Komarow - LinkedIn: https://www.linkedin.com/in/bruceallenkomarow/   How Much Life Insurance Should You Carry? https://www.investopedia.com/articles/pf/06/insureneeds.asp   Life Insurance Calculator: https://lifehappens.org/   Previous Episodes of Interest:   The Ultimate Guide To Finding A Financial Advisor - with Matt Kweller: https://www.youtube.com/watch?v=iFEkgeQMYtk&ab_channel=ArtisticFinance   Part 2 - The Ultimate Guide To Finding A Financial Advisor - with Matt Kweller: https://www.youtube.com/watch?v=ALwy55eZlTM&t=12s&ab_channel=ArtisticFinance   6k Investing Special: https://youtu.be/nh5fwQwIOBA   Carl Faber - Be Your Own Financial Advocate: https://www.youtube.com/watch?v=FdZI-plB6aU&ab_channel=ArtisticFinance   Book Club - A Cat's Guide To Money by Lillian Karabaic: https://www.youtube.com/watch?v=EtNmDVtJ6hM&t=707s&ab_channel=ArtisticFinance   ... Become a patron: www.patreon.com/artisticfinance   Interview by Ethan Steimel   Instagram handles: @ethansteimel @artisticfinance