For years you may have invested in life insurance, but is it still the right thing for you? Depending on your situation: maybe yes, maybe no. If not, where else should you focus your investments and plans?
(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)
According to Tim Steffen, life insurance is used to “protect an income stream or provide some other source of funding during retirement.” So, what does that mean for your situation? Do you need to protect an income stream (inside or outside of retirement)? Do you need the funding for your retirement?
There are situations when life insurance can be a valuable tool to have and use within your financial plans. Brian even shares about why he has life insurance. But when is it not worth it anymore?
What about long-term care costs? Is that something you should prepare for? If so, how? And why do these two topics relate? On this episode of the Retire with Integrity podcast, Brian will discuss what you need to know when it comes to life insurance, and if it is an investment that is worthwhile in preparing for your future.
Ultimately, you’ll want to understand your financial health. How does it hold up?
Listen to the full episode or click the timestamps below to hear the segment that most pertains to your situation.
[0:16] – Do you still need life insurance?
[1:23] – Ask, where will your retirement income come from?
[3:21] – Who benefits most by having it?
[3:49] – Consider your living benefits or long-term care costs.
[5:48] – Do you have a plan for yourself and even, for your parents?
Brian Bowen – Contact