Welcome to the Wealth Curve Talk Podcast. In this episode, John continues his series on the Wealth Curve Blueprint. This time he lays out the elements of quality life insurance coverage.John is the author of 5 Ways Your Wealth is Under Attack and It’s Your Wealth – Keep It.” He has lectured extensively on financial planning and is a recipient of the Five StarSM Wealth Manager Award.John’s strength is his ability and commitment to improve the level and quality of the financial planning process.As a result, his dedication to his clients’ growth involves an evolving strategy. His focus is to meet the demands, desires, and needs of his clients in a changing economic environment.Here are John’s key takeaways:* Term life insurance is the simplest and usually the cheapest type of life insurance coverage.* Also, it is vital that your term life insurance be convertible to some sort of permanent insurance in the future without requiring evidence of insurability.* Also make sure that the permanent policy your plan will convert to is something that you would be happy to purchase on the open market today. It needs to have all the appropriate elements.Plus:* In addition, your permanent policy will be whatever type of insurance that you are comfortable with in your financial strategy. It can be universal life, variable life, whole life, or fixed index universal life insurance. The type is really up to you.* Lastly, as you get closer to retirement, you want your permanent policy to make up a larger portion of your overall plan. That is, your life insurance cash values should be a certain percentage of your net wealth. Also, at retirement your death benefit should be equal to one time your estate value.For details, listen above.If you are new to Smallwood Wealth schedule a Wealth Curve Conversation here.