Business
This is the “Know Better, Do Better” series born from the countless conversations two CERTIFIED FINANCIAL PLANNER™ professionals, Lauryn Williams and Chloé Moore, have about the trendy narratives and clickbaity articles that make it hard for them to help their clients. They want to help you gain financial confidence and clarity to control your destiny. In this episode, Chloé and Lauryn are talking about life insurance. This is one of those financial conversations that a lot of young professionals don’t think they need to have. But you don’t get life insurance because you’re going to die, you get it because your loved ones are going to live. And even if you aren’t married and don’t have kids, Chloé and Lauryn are going to share with you some important things you need to think about when it comes to life insurance. In this episode Lauryn and Chloé cover: The real purpose of life insurance How much life insurance you really need What things in your life impact the amount of life insurance coverage you need Why there isn’t a one-size-fits-all number everyone needs to be covered for How term life insurance works How whole life insurance works and why it’s not the best choice for everyone What you need to know before borrowing against your whole life insurance When it makes sense for single individuals with no dependents to buy life insurance What you need to know about group life insurance from your employer Where to find individuals policies for life insurance What options exist for individuals that are unable to qualify for individual life insurance due to their health history The benefits of a convertible term policy The importance of finding an insurance agent with integrity Understand how your insurance agent is getting paid and what they’re getting paid The importance of understanding what can cause your policy to lapse and why you should reevaluate it each year Shared quote: “Always plan ahead. It was not raining when Noah built the ark.” - Richard Cushing RESOURCES: Episode 116 "Know Better, Do Better": Estate Planning with Guest Shalini Codispoti 7 scenarios where a single person might need life insurance Life Insurance Needs Calculator How Much Life Insurance Do I Need? If you want to further connect with Lauryn Williams: Instagram: @worthwinning Twitter: @worth_winning Facebook: @worthwinningfp LinkedIn: @lauryn-williams If you want to further connect with Chloé Moore: Instagram: @financialstaples Twitter: @finstaples Facebook: @finstaples LinkedIn: @chloemoore