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33. Life Insurance - Do You Really Need it?
YouTube Link (available 12:00AM on 12.06.2021):
https://youtu.be/LsLso7w0gYM
One way to protect your loved ones, especially if they depend on you, is by getting life insurance. In today’s video I make it easy to understand the main points when deciding on getting life insurance and whether you need it or not.
🔔 Subscribe for more tips just like this: https://www.youtube.com/channel/UCcja7IBZ2VZVsCdmGDjZiRw?sub_confirmation=1
-----Contents of this podcast-----------------------------------
0:00 - Intro
0:20 - Question of the Day
1:17 - Who Needs Life Insurance
2:04 - How much Life Insurance do you need?
3:02 - What types of Life Insurance are there?
3:11 - Whole Life Insurance
3:46 - Term Life Insurance
4:20 - Call to action
Description:
Who needs life insurance?
Simply put, you need life insurance if you have anyone depending on your income. Many times those are young children.
How much life insurance do you need?
You need between 10 to 12 years of your current annual income. The idea is not to spend all the money in case of someone’s passing, but invest it and live off the income that it generates.
What are the types of life insurances out there?
There are many types of life insurance out there, but the most common ones are Whole Life insurance and Term Life insurance. Whole life combines insurance and savings into the same account. It is very expensive and I personally stay away from it. Term life insurance is simpler and it only includes insurance. It is also very inexpensive. For about $1M in coverage for a 30 year old individual will cost ~ $30/month.
It would help me a TON when you LIKE the video and SUBSCRIBE to my channel. My PROMISE to you is that I will keep making GREAT content that will take you one step closer to FINANCIAL INDEPENDENCE.
My wife and I wrote the book: “LIFE LESSONS: From A Wiser Me to A Younger Me” In this book, we go into details of what were the biggest lessons we have learned up until now. Our intention for writing the book was for people to learn from it and not repeat the same mistakes we did. Also what we have learned in 10, 20 years, could be compressed in a few days of you reading the book. So there is a lot to gain :)
You could purchase it here: https://www.amazon.com/dp/B09JBHGSRF/ref=cm_sw_em_r_mt_dp_0QE4R3280AE5BMYH1SPK
*None of this content is meant to be interpreted as investment advice. It is for entertainment purposes only. The content in the video is accurate as of the day of the posting and may not be accurate in the future.
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By VladimirYouTube Link (available 12:00AM on 12.06.2021):
https://youtu.be/LsLso7w0gYM
One way to protect your loved ones, especially if they depend on you, is by getting life insurance. In today’s video I make it easy to understand the main points when deciding on getting life insurance and whether you need it or not.
🔔 Subscribe for more tips just like this: https://www.youtube.com/channel/UCcja7IBZ2VZVsCdmGDjZiRw?sub_confirmation=1
-----Contents of this podcast-----------------------------------
0:00 - Intro
0:20 - Question of the Day
1:17 - Who Needs Life Insurance
2:04 - How much Life Insurance do you need?
3:02 - What types of Life Insurance are there?
3:11 - Whole Life Insurance
3:46 - Term Life Insurance
4:20 - Call to action
Description:
Who needs life insurance?
Simply put, you need life insurance if you have anyone depending on your income. Many times those are young children.
How much life insurance do you need?
You need between 10 to 12 years of your current annual income. The idea is not to spend all the money in case of someone’s passing, but invest it and live off the income that it generates.
What are the types of life insurances out there?
There are many types of life insurance out there, but the most common ones are Whole Life insurance and Term Life insurance. Whole life combines insurance and savings into the same account. It is very expensive and I personally stay away from it. Term life insurance is simpler and it only includes insurance. It is also very inexpensive. For about $1M in coverage for a 30 year old individual will cost ~ $30/month.
It would help me a TON when you LIKE the video and SUBSCRIBE to my channel. My PROMISE to you is that I will keep making GREAT content that will take you one step closer to FINANCIAL INDEPENDENCE.
My wife and I wrote the book: “LIFE LESSONS: From A Wiser Me to A Younger Me” In this book, we go into details of what were the biggest lessons we have learned up until now. Our intention for writing the book was for people to learn from it and not repeat the same mistakes we did. Also what we have learned in 10, 20 years, could be compressed in a few days of you reading the book. So there is a lot to gain :)
You could purchase it here: https://www.amazon.com/dp/B09JBHGSRF/ref=cm_sw_em_r_mt_dp_0QE4R3280AE5BMYH1SPK
*None of this content is meant to be interpreted as investment advice. It is for entertainment purposes only. The content in the video is accurate as of the day of the posting and may not be accurate in the future.