MINT HILL, NC – I want you to take a second and think of the most important people in your life? If I was answering this question I would say my loved ones and myself. My goal is to protect the ones I care about from the consequences of unexpected events. One of the ways you can do this is through Life Insurance.
At Fulcrum, we believe that life insurance should be part of your financial plan but only in the amount of coverage you actually need, not in excess. We need to always remind ourselves that we are the asset that needs to be protected. There are many complex ways to determine how much life insurance coverage individuals need, but a good rule of thumb is to do a very quick calculation. This calculation involves determining the number of years until age 65 and then multiplying that by your income per year and working backwards. Life insurance can be in the form of term, whole life, variable life or variable universal. Each type of life insurance has its own unique pros and cons.
I hope you have found this helpful, and as always if you want to take a deeper dive into your asset protection strategy please let me know!
Next week we will continue our topic of asset protection and discuss disability insurance.
Let us help you find your clarity of purpose!
To discuss further, please contact me at (704) 817-4480 Option 2, or by email at firstname.lastname@example.org.