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Part 3: Life Insurance - Term vs Permanent | Kurt and Mark - 08
Life insurance isn’t a one-size-fits-all solution. The key is finding coverage that fits your life right now. With so many options available, it can get confusing. In this episode, we continue our series on permanent insurance and explore term versus permanent life insurance so you can figure out which one makes the most sense for you.
Case Studies: Life Stages and Coverage Needs (02:35 - 11:13)
· Think about where you’re at in life right now. This will help you decide what type of life insurance coverage you need.
o Young Families: Tight budgets might favor term insurance. It can help them multiply their income coverage and provide financial protection at a low cost.
o Mid-Career Couples: As earnings and responsibilities grow, a mix of higher term coverage and starting permanent policies can support long-term growth and retirement planning.
o Business Owners and Older Adults: At this stage, priorities shift to business continuity, long-term care, and preserving wealth. Strategies often include indexed universal life, whole life, or defined benefit plans to meet these goals.
Lessons from Experience: Regret and Wisdom (14:07–16:03)
· We share a few stories of clients who wish they had secured more coverage sooner. We also highlight those who have seen the benefits of investing in permanent policies. The sense of relief and stability that permanent insurance can offer really comes through.
Permanent Insurance vs. Other Investments (16:04–21:29)
· Think of permanent life insurance like owning real estate. It offers convenience, tax benefits, and less stress compared to managing property and worrying about market ups and downs.
· We also briefly cover final expense policies for seniors and international clients, showing how US-dollar-denominated insurance can help protect against currency risks.
· The main lesson? Don’t follow one-size-fits-all advice from financial gurus. Work with experienced advisors who can help you design coverage that fits your life stage and goals.
“The truth is, when it comes to life insurance, there is no one-size-fits-all. Every family is different, every individual is different, and everyone deserves a life insurance plan tailored to their unique situation.” - Kurt.
Resources
Ready to get personalized guidance or quotes? Reach out to us today via the contact info in the bio or visit figtreegroup.com.
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By Kurt Tucker and Mark SchmidtLife insurance isn’t a one-size-fits-all solution. The key is finding coverage that fits your life right now. With so many options available, it can get confusing. In this episode, we continue our series on permanent insurance and explore term versus permanent life insurance so you can figure out which one makes the most sense for you.
Case Studies: Life Stages and Coverage Needs (02:35 - 11:13)
· Think about where you’re at in life right now. This will help you decide what type of life insurance coverage you need.
o Young Families: Tight budgets might favor term insurance. It can help them multiply their income coverage and provide financial protection at a low cost.
o Mid-Career Couples: As earnings and responsibilities grow, a mix of higher term coverage and starting permanent policies can support long-term growth and retirement planning.
o Business Owners and Older Adults: At this stage, priorities shift to business continuity, long-term care, and preserving wealth. Strategies often include indexed universal life, whole life, or defined benefit plans to meet these goals.
Lessons from Experience: Regret and Wisdom (14:07–16:03)
· We share a few stories of clients who wish they had secured more coverage sooner. We also highlight those who have seen the benefits of investing in permanent policies. The sense of relief and stability that permanent insurance can offer really comes through.
Permanent Insurance vs. Other Investments (16:04–21:29)
· Think of permanent life insurance like owning real estate. It offers convenience, tax benefits, and less stress compared to managing property and worrying about market ups and downs.
· We also briefly cover final expense policies for seniors and international clients, showing how US-dollar-denominated insurance can help protect against currency risks.
· The main lesson? Don’t follow one-size-fits-all advice from financial gurus. Work with experienced advisors who can help you design coverage that fits your life stage and goals.
“The truth is, when it comes to life insurance, there is no one-size-fits-all. Every family is different, every individual is different, and everyone deserves a life insurance plan tailored to their unique situation.” - Kurt.
Resources
Ready to get personalized guidance or quotes? Reach out to us today via the contact info in the bio or visit figtreegroup.com.