Join Josh and Amelie to talk about Whole/Universal Life Insurance! As Amelie was studying for her AFC exam, she found herself wondering when–if ever–whole life insurance makes sense.
Top takeaways:
- First question to ask: do you have a temporary or permanent need for insurance?
- Second question: have you run out of all other tax-sheltered accounts (IRA, 401k, 529, etc.)?
- There are some long-term care insurance policies that are hybrid whole life/long-term care and some that can be riders on other policies.
- If you have a family history/higher likelihood of cancer, it may make sense to have whole life with potential additional benefits/ability to buy more.
- Every tool has a place; our job is to help figure out if the tool is being used for the correct purpose.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
