Financial advisors discuss when and how to choose a life insurance policy during Life Insurance Awareness Month
Updated: September 27, 2024 5:21 PM CDT
Well, we’re still in September, which happens to be Life Insurance Awareness Month. Northwestern Mutual Wealth Management Advisor Taylor Royal talks about this. Taylor, thank you for being here. wonderful. Happy Friday. Happy Friday. Understood. What does life insurance recognition actually mean? Yeah. September. Husker Football Vara’s Pumpkin Patch, Life Insurance. Everything will be fine. But yes, what is life insurance for me and my family, it is a contract between an individual and an insurance company like Northwestern Mutual, preferably a term insurance policy for life insurance coverage. You will have to pay a fee. What that means for my family is that we have healthy children at home and a beautiful family who devotes their talents and energy to spending time at home with them. I mean, I have a wife. Therefore, our family is very dependent on me working every day. So I have life insurance on myself. So I don’t want anything to happen to me. We can use it to achieve our goals as a family. And Taylor, you talk a lot about your family. I mean, I know my family has had this discussion. When is the best time to buy life insurance? Yes, if you have young children at home and you are the breadwinner. However, I think of life insurance in three broad categories. The first is risk management. That said, what happens if something happens, if you need to pay off a debt, or if you need supplementary or some kind of income? God forbid something happens to someone. It’s much like disability insurance, home insurance, and auto insurance. That’s why. What if life insurance was also a wealth-building tool? So it’s perfect for anyone who wants to save for retirement and consider tax-deferred or tax-free growth. Life insurance can be a great tool for that. And just like estate planning, I have great tools to not only keep my legacy alive on a day-to-day basis and stay committed to my children and philanthropy, but also to maximize my balance sheet and assets. I also have a client. At the end of time. When it comes to life insurance, there are many different plans. How do you know how much life insurance you need? Great question. There are some rules of thumb, such as 10 times your salary or an amount equivalent to any debt you may have. But I think it’s important to talk to a trusted advisor and have a serious conversation about what your goals are and what you want to achieve for your family. Why not talk to your spouse or significant other about what you want to achieve? God forbid anything happen to you. Therefore, the number varies from person to person. September is the best time to talk about it. Because many employees in this community are jumping right into open enrollment. And they will be making these decisions for their families. Taylor, this is a great time to have a discussion like this. Where can people learn more about life insurance and financial planning? Yes, certainly Northwestern Mutual. COM has some great resources. Consult with a trusted advisor. If you would like to connect with me, please visit Royal Wealth
Financial advisors discuss when and how to choose a life insurance policy during Life Insurance Awareness Month
Updated: September 27, 2024 5:21 PM CDT
September is Life Insurance Awareness Month. Northwestern Mutual Wealth Management Advisor Taylor Royal joins KETV NewsWatch 7 in the newsroom to discuss when is the right time to buy life insurance, how to determine the best level of coverage, and financial planning. Watch the full interview in the video above. Click here for the latest headlines from KETV NewsWatch 7.
Omaha, Nebraska —
September is Life Insurance Awareness Month.
Taylor Royal, Northwestern Mutual Wealth Management Advisor, appeared on KETV Newswatch 7’s Newsroom to discuss the right time to buy life insurance, how to determine the best level of coverage, and financial planning. .
Watch the entire interview in the video above.
Click here for the latest headlines on KETV NewsWatch 7
