Term Limits
“If you’re married you want the right amount of life insurance. Too little and they may be in trouble if you’re killed. Too much and you may be in trouble of them doin’ the killin’.” ~Anonymous
If you have people depending on your income, YOU NEED TERM INSURANCE!
What is Term Insurance? Who needs it? And how much do they need?
If you have people depending on you, then you definitely need it. But how much should you get? You’ll want to ensure that it covers, or at least helps with, five key areas.
- Final Expenses
- Pay off debt
- Pay off (or buy) home
- Retirement Lump Sum
- Income Bucket
Add to it anything else for college or other financial goals.
Tune in: Term Limits!
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This article provides education only and does not offer investment, legal, or tax advice or recommendations, either directly or incidentally. Again, this is not investment advice. Consult your financial, tax, and legal professionals for specific advice related to your specific situation. Never take investment advice from someone who doesn’t know you and your specific situation. All opinions expressed in this article are the opinions of the people expressing them. In addition, all performance referenced is historical and is no guarantee of future results. You cannot invest directly in any unmanaged indices. RetireMentorship is not affiliated with any Registered Investment Advisor, Broker-Dealer, or other Financial Services Company.
