Life insurance is especially important to have during your primary working years if someone (children, spouse, other) is dependent upon your income. If not one depends on your income, you may not need life insurance.

It is important to know what kind of insurance you have and what it covers. In the event of severe weather, you may need additional insurance to cover extreme heat, floods, wind, fire, etc. In the case of life insurance, do you have whole life, universal, or a variation of universal life insurance?

Are you familiar with the terms of your insurance policy? Some life insurance policies become void if premiums have not been kept up or there is an outstanding cash balance on the policy.

Chris and Jeff recommend that you put life insurance into context of your financial plan.

If you need help with your financial plan, contact us at (866) 771-8901. To learn more about Asset Management Resources, visit AMRfinancial.com.

Recorded August 10, 2023.