Episode 35: The Reasons and Seasons of Life Insurance

The Wealth on Purpose team discusses the uses of life insurance in the different phases of life and the critical role it plays in a financial plan. A few real stories mixed in! Key Topics: Life insurance is a multidimensional financial tool, not just a death benefit Locking in coverage in your 20s secures the best rates at peak health Student debt and income potential are reasons younger professionals need coverage now Life insurance protects families from financial burden during the grieving process Business owners can use buy-sell agreements funded by life insurance to protect partnerships Real estate portfolios and estate tax liabilities create specific insurance planning needs Death benefits are typically received tax-free, unlike most other significant financial assets Policies require regular review as life circumstances, beneficiaries, and wealth levels change Survivorship policies help grandparents build generational wealth and change the family's financial trajectory The right question to ask your advisor is simply where you are in life and whether coverage makes sense Connect with us: Brian Diffily Brian Hartmann, CFP® Visit our website: Granite Bridge Wealth