Life Insurance- cover your basics
Tell me when you are going to die and I will tell you what to buy. Seriously, you need to be able to look at pricing versus how much insurance you need to cover your basics for a certain period of time. Don’t overbuy insurance.
Our thoughts around Life Insurance
• A Rule of Thumb is to buy coverage that is at least 7x your income
• Employer-provided coverage is solid but can have shortcomings (deeper dive)
• We believe in protection-based life insurance -life insurance and investments should not be combined for most people
• You are generally covering, your home, your children and your income
We usually recommend considering Life Insurance for 3 scenarios:
• Business planning
• To cover the basics of your financial plan
• You have a life event such as having a kid or having a mortgage (list of life events)
Deeper Dive
• Key Man
•Buy/Sell
• Life Events there are 10 or 11
• What to do if you are leaving your job (elective, portability, fired, sick (life settlements))
DISCLAIMER:
Investment advisory services provided by Regal Investment Advisors LLC, an SEC registered investment adviser. Regal Investment Advisors is independent of Fortress Mega, LLC. Advisory services are only offered to clients or prospective clients where Regal and its representatives are properly licensed or exempt from licensure. SEC registration does not imply a certain level of skill or training. The information presented is general in nature and should not be considered to be investment, legal, tax, accounting, consulting, or any other professional advice. It is not a solicitation of, or an offer to buy or sell, any securities or advisory services. The purpose of the information presented on this website is to educate and inform. The content is developed from sources believed to be providing accurate information. In all cases, you should consult with a professional familiar with your particular situation for guidance concerning specific financial matters before making any decisions.
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