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36 - Planning Controllables Part 8 - Navigating Life Insurance

36 - Planning Controllables Part 8 - Navigating Life Insurance

March 31, 2023

Ideal For: Individuals Recognizing the Need for Life Insurance

Illuminating The Strategy: Exploring options and deciding on a life insurance policy that suits your unique needs.

Who Stands To Gain? Anyone who wishes to ensure financial security for their dependents in their absence.

Your Next Move:

  1. Tap into Employer’s Group Benefits: Check if your employer provides any free life insurance, and ensure you're enrolled.

  2. Compare Costs of Additional Insurance: Some employers allow employees to purchase additional life insurance through payroll deductions. However, this can often be more expensive than purchasing a policy directly from an insurance company or a broker. Always perform a cost comparison before making a decision.

  3. Be Aware of Job Changes: Employer group life insurance benefits might not continue if you terminate your employment. Factor this into your decision-making.

  4. Explore Term Life Insurance: If your insurance needs are temporary, consider term life insurance, which offers coverage for a specific period.

  5. Guaranteed Issue Life Insurance: If you have health issues or are considered 'uninsurable', consider "guaranteed issue" life insurance. Employers sometimes offer this as part of their group benefits.

  6. Understand Different Insurance Types: There are various types of insurance policies, including Term, Whole Life, Universal Life, and Variable Life. Each one caters to different needs.

  7. Reach Out for Assistance: Life insurance can be a complex topic. If you would like some more personalized planning assistance, please contact us. We are happy to assist you.

Take charge of your future by implementing a life insurance plan tailored to your unique circumstances.