#42 Life Insurance 101: Ensuring Financial Security
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Manage episode 445262016 series 3530453
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What if understanding life insurance could safeguard your family's future and provide the financial stability you need? Join us on the Fiscal Physical Podcast as we sit down with Ryan Nelson, founder of Alchemy Wealth Management, who demystifies life insurance and its vital role in protecting your loved ones. Ryan explains the nuances between term and permanent insurance, emphasizing the significance of life insurance as a crucial tool for income replacement in the unfortunate event of premature death. He also shares expert advice on consulting with an insurance advisor to tailor the perfect policy to your needs, and why you should be cautious about treating life insurance as an investment.
Imagine life insurance as either renting or buying a house—Ryan uses this compelling analogy to make sense of term versus permanent policies. Term insurance, like renting, offers temporary coverage for a set period, whereas permanent insurance, akin to buying a home, provides lifelong coverage with the added benefit of cash value accumulation. Whether you're considering mortgage coverage or income replacement, understanding these differences is key to making an informed decision. Listen in for practical tips and indispensable insights to secure financial stability for your dependents and navigate the complexities of life insurance.
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Imagine life insurance as either renting or buying a house—Ryan uses this compelling analogy to make sense of term versus permanent policies. Term insurance, like renting, offers temporary coverage for a set period, whereas permanent insurance, akin to buying a home, provides lifelong coverage with the added benefit of cash value accumulation. Whether you're considering mortgage coverage or income replacement, understanding these differences is key to making an informed decision. Listen in for practical tips and indispensable insights to secure financial stability for your dependents and navigate the complexities of life insurance.
Find "Your Fiscal Physical" the book on Amazon at: rb.gy/3shpfk
If you have suggestions or feedback, please email us at: Podcast@AlchemyWealth.com
And, as always, STAY THE COURSE!
פרקים
1. #42 Life Insurance 101: Ensuring Financial Security (00:00:00)
2. Life Insurance Basics and Considerations (00:00:01)
3. Life Insurance (00:12:15)
50 פרקים