EPISODE #040

LIFE INSURANCE QUALITY

PERSONAL FINANCE TIPS DELIVERED DIRECTLY IN YOUR INBOX

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LIFE INSURANCE COVERAGE & QUALITY

In this episode, John continues his series on the Wealth Curve Blueprint. This time he lays out the elements of quality life insurance coverage.

John is the author of 5 Ways Your Wealth is Under Attack. He has lectured at various educational institutions such as John Hopkins, Haas School of Business, UC Berkeley and UNC Chapel Hill. He has consecutively received the Five StarSM Wealth Manager Award since 2011, and is the former president and chairman of the Rotary Club of Red Bank Foundation.

John’s strength lies in his ability and commitment to continually improve the level and quality of the financial planning process. His macro view approach and dedication to his clients’ growth involves an evolving strategy that strives to meet the demands, desires, and needs of his clients in a continually changing economic environment.

Here are John’s key takeaways:

  • Term life insurance is the simplest and usually the cheapest type of life insurance coverage.
  • It is vital that your term life insurance be convertible to some sort of permanent insurance in the future without requiring evidence of insurability.
  • Also make sure that the permanent policy your plan will convert to is something that you would be happy to purchase on the open market today. It needs to have all the appropriate elements.
  • Your permanent policy will be whatever type of insurance that you are comfortable with in your financial strategy: universal life, variable life, whole life, or fixed index universal life insurance. The type is really up to you.
  • As you get closer to retirement, you want your permanent policy to make up a larger portion of your overall plan. That is, your life insurance cash values should be a certain percentage of your net wealth. Also, at retirement your death benefit should be equal to one time your estate value.

For details, listen above. Call us at 732-542-1565 and schedule a time to come in. We can create your Wealth Curve Blueprint and Scorecard. It’s free, with no obligation. We look forward to hearing from you.


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life insurance coverage podcast #41

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