Past Due: Radio 165 – How Much Life Insurance Do I Really Need?
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You have to respect the power of Facebook. I put out an APB to see what kind of financial questions my friends wanted some input on and I got great feedback. We’ll see more of their questions in upcoming shows.
My friend Jay asked: “How much life insurance do I (and my wife) really need?” Great question! We haven’t talked about the provocative, tantalizing subject of life insurance in a while!
On today’s show we covered the following:
1) What life insurance is really used for and the various types out there
2) What costs (premiums) you can expect to transfer the risk of lost income to an insurance company
3) The rule of thumb I use when helping folks determine their life insurance coverage amount
Having adequate life insurance is critical to a well-rounded financial plan. Making sure you aren’t paying an arm and a leg for it, to the detriment of your other financial goals, it’s just good stewardship.
If you have a specific question, I’d be happy to answer it and further cultivate the wisdom of the Past Due Radio masses. The experiences of our listener base provide plenty of insight we all can learn from; don’t hesitate to ask – I’m happy to help!