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Life Insurance Needs.. What To Do Now That We Have A Kid?

There are all kinds of life insurance policies of course and depending on your needs, your specific situation and what you can afford to pay, chances are that you’ll end up with a specific insurance policy, hopefully the right one. I personally ended up buying a 20 year policy after getting married. We knew that we were going to buy a house in the following months so the main focus was on making sure that if something happened to one of us, the remaining partner would not have too much of a financial burden. We basically got enough to pay

Life Insurance Needs… Should I Renew My Term Policy?

As many of you know, I personally ended up buying a term life insurance policy. and while I still have quite a few years left on my policy, I had an interesting discussion with my uncle about what to do when a term life insurance policy is coming up for renewal.  The first question of course is how to know. Yes, ideally you can set yourself some kind of reminder while you do your annual insurance review. Why? Because the worst thing that could happen is for you to have something bad happen while you have no current life policy.

Life Insurance As An Investment?

Last night I read a very interesting article published by the CFA members magazine debating the idea that life insurance should be treated as a distinct asset class. At first I thought it was a very odd idea but as I read on and continued thinking about it, it started to make a lot more sense. It’s Not An “Investment” If… For many, life insurance is protection against bad scenarios where one person’s death would create a financial burden which would create significant issues for surviving family members. I’d agree that in such a case, treating life insurance as an investment does not make sense. Likewise, for many,

Things To Avoid When Applying For A Life Insurance Policy

A few weeks ago, one of my good friends gave me a call about a rather unfortunate situation. His dad wanted to increase his life insurance policy coverage with his existing insurer. They were more than happy to do it obviously and only asked him to do a physical which he did. During the physical, the doctor asked him if he’d like anything more tested. He said he wanted to do an extra test on his heart.. BIG Mistake. Guess what, they found an anomaly. The insurance company accepted the increased coverage but was charging thousands of dollars more per

Investing Money Through Your Life Insurance Policy

It’s bound to happen if at some point you decide or look into buying a whole life insurance policy. you will likely hear about the possibility of paying more than your premium in order to invest through your life insurance. Why would you do it? –Automated Saving: By going down this route, it’s fairly straight forward to invest for your retirement, you usually only decide the type of investing that you’re looking to do and everything else will be taken care of –Tax Savings: Depending on where you live and how the policy is structured, you could get significant tax

Term Life insurance + investing VS Whole Life insurance

  This is probably the biggest question of all times. We’ve been sold on an idea for decades coming from the sole beneficiary of this financial plan… The life insurance company itself! Many think that because you own a whole life policy, you can put money into your life insurance policy and that the money grows without paying income taxes, that it covers all the benefits. Wrong! For most people, having a life insurance protection is the single most important financial transaction they will make. Mainly, it covers all the financial responsibilities you still have but are no longer on earth to make

Employer-Paid Life Insurance… Do We Need More?

  Many people have the fortunate experience to work with a company that takes charge of many little details to make their life better, easier to manage and at a lesser cost. It could be medical insurance, dental insurance or life insurance. When we take a look at the first 2, there is not much that we can do to improve the group-paid plan of an employer. It usually has the advantage to be at a lower cost because it gathers a lot of people in the same policy so the insurer is willing to charge  far less. Sometimes, you

Life Insurance For Investors

  When looking to invest your money, you need to use financial intelligence in order to maximise your outcome. And some distinctions have to be made regarding life insurance in an investment strategy: yes, you can use it, but not at all cost! Protect your investment The sole use of any kind of insurance is to protect an asset in case of something bad happens (like a car insurance) OR protect a liability (like a mortgage). When dealing with life insurance, the same logic applies. This means that when making an investment, you should always look at your financial context

Not Knowing How Life Insurance Works Can Hurt Your Future!

When opening the life insurance subject, sometimes people get a negative reaction. Maybe that comes from the fact that it is not a subject that we like to talk about in the first place. I’d like to share a story that is important to me because the client became a great friend of mine and I’ve met him and his wife on a soccer field, coaching his son how to play soccer. I was telling him, Cedric, that I would like to sit down with them talking about the different strategies to build a financial plan. They were open to see

How To Become Financially Independent With Life Insurance… Being Middle-Class?

Hey! Who wants money? Who wants to accumulate great riches throughout their life? So much that they can say: I am financially free for the rest of my life? Just  about anybody, right? This time, I would like to make some points clear because I heard so many things regarding this topic: How can I use life insurance to be financially free? Please, take a moment and try to answer this one by yourself. Okay, your moment is up. What have you discovered between life insurance and financially free? Have you made some links whatsoever? What makes the people in

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