How Much Life Insurance Should You Buy?

Term Insurance Rates Are Remarkably Low! How Much Life Insurance Should You Buy? From Who?

It is critically important for consumers to have an accurate understanding of how inexpensive term insurance really is. Once you engage with a professional to understand pricing, a robust discussion will usually follow about “how much” coverage meets your goals and objectives. From there, you should know about the state of the art innovations that can reduce premiums, create value and increase flexibility which may be more important than any one thing. Just one example: Life insurance buyers are not aware they can control how the proceeds are paid to their beneficiaries. Until recently, there were no options. Now, at the time of purchase, the owner can instruct the insurance company to pay GUARANTEED, pre-determined payments over a time period he/she selects. This is transformational. The premiums are up to 40% less, EVERY YEAR!

Yet, people are overly focused on minimal premium differences without first customizing the product. This is the equivalent of going into an auto dealership and demanding the least expensive car on the floor without first “building” the car to meet your unique goals and objectives. Then, and I totally agree, cost comparison is the right focal point. This is not the consumer’s fault. Our industry has done a poor job explaining all of this. There has not been enough of a focus on product customization. One size does not fit all but that has been a competing trend. More and more insurance companies are creating products that allow you to design the perfect policy for you. It’s all about customization and flexibility.

I offer a complementary consultation, by phone or in person, which is designed to help you determine if I am the right professional for you. I have 30+ years of experience that I gladly share with my clients to help them obtain state of the art solutions and products. Send me an email to tb@lifecycleplanners.com or call my direct number at 561–869–4500. Upon request, I can provide you with many clients or professional advisors who can speak to the experience of working with me.


Originally published at Don’t Outlive Your Wealth!.