At long last, we enter into the oft-requested topic of life insurance! Today's show is an introduction to the economic basis and justification for life insurance and it's also an outline of some of the uses of life insurance for individuals and families. (We'll cover business uses another day.)
You also get the joy of a bit of a sales pitch on why I love life insurance planning so much. It's truly an incredible financial product.
Life insurance is founded on the economic value that each of us provide to others and on our moral obligation to provide for our dependents.
Because each of us has an economic value that can be estimated, we can come up with some formulas to understand how much life insurance is appropriate.
The three major approaches to determining an appropriate amount of life insurance are:
The best of these methods is the needs analysis approach. It balances the need for precision and the need for simplicity quite effectively.
Life insurance can have many uses for individuals and families:
Enjoy the show!
Are you the creator of this podcast?
and pick the featured episodes for your show.
Connect with listeners
Podcasters use the RadioPublic listener relationship platform to build lasting connections with fansYes, let's begin connecting
Find new listeners
Understand your audience
Engage your fanbase