We’re going to talk today about how you might be wasting money on life insurance and demystify your understanding of the options. For more information watch the video above and read the blog post below!
Do the Math
In the video above, I talk about how you could be making a $1.7 MILLION dollar mistake. It’s important that you first consider the opportunity cost of your dollars before you make any purchase, including life insurance. What could those dollars be doing for you?
Make Sure You Stay on the Level
Even if you buy term life insurance make sure that it’s level term life. This means the premiums stay the same for the whole length of the policy. Otherwise, you end up with a situation like this… ????
Ask Lots of Questions
85% of the financial professionals in the marketplace have the heart of a salesman instead of the heart of a teacher. They like to use $20 words to explain $5 concepts and keep you confused trusting the “expert”. Ask questions and you’ll sniff out the bad apples. Make sure YOU understand it and don’t let them confuse you with complicated life insurance options that seem good but you’re not getting the whole pictures. Ask about the fees, ask how they make their money, ask “what happens if”, ask any question to make you feel comfortable with the decision, but most of all remember how to maximize your dollars as shown in our video today.
Cover your ass(ets).
Question: Do you have life insurance secured for your family? If not, when will you get this in place? Set a date and share in the comments below!