Why Life Insurance Deserves a Bigger Seat at the Financial Planning Table
Life insurance is just one part of a financial plan - but it’s a critical one. And unlike other parts of your financial picture, the ability to obtain life insurance -and the cost of it - is directly tied to your age and health. Underwriting is required, which means if you wait too long, your options may narrow or disappear altogether.
Over the course of my career, I’ve worked with many people who were either misinformed or simply delayed taking action. Unfortunately, in many cases, the mistakes weren’t correctable - and the opportunity to put something meaningful in place was lost.
When structured properly, life insurance can provide protection, flexibility, and long-term financial leverage. But when done poorly it can result in hundreds of thousands (or even millions) of dollars wasted. It’s one of the few financial instruments where a mistake can cause irreparable harm.
Unlike investments like ETFs or mutual funds - which can be bought with a signature and a check -life insurance requires more thought and planning upfront. That’s why it’s important to get it right the first time.
Unfortunately, most individuals (and I’d go as far as to say most life insurance agents) don’t fully understand the options available or how to educate clients on structuring a policy properly. The most common mistakes involve getting the wrong amount, the wrong type, or failing to consider a combination of types that could work better together.
What many people don’t realize is that - just like an investment portfolio might contain a mix of stocks, bonds, and alternatives - your insurance planning may benefit from a portfolio approach as well. Layering different policies in a coordinated, macroeconomic way can provide both protection and performance that no single product can offer on its own.
If you haven’t reviewed your coverage recently (or if you’re not sure whether your current plan is truly working for you) let’s talk. I take a personalized, educational approach and work with multiple carriers to help ensure the right structure, at the right cost, with the right long-term outcome in mind.
Click here to learn more about my process or reach out to schedule a conversation.