Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Video Transcript: Hello, everyone. I'm Steve Savant, syndicated financial columnist and host of the weekly online talk show "Steve Savant's Money: The Name of the Game."
I'm answering questions from insurancelibrary.com, and today's question is: Is having life insurance a good idea?
Well, just remember, do you have financial liabilities? Do you have future obligations? Do you have any intention for charitable gifting or any kind of inheritance that you want to leave your children or grandchildren?
If any of those questions are yes, then you need to look at life insurance.
Now, it could be temporary life insurance, which is term life insurance, which is very, very inexpensive today. But if you have permanent obligations, permanent liabilities, or a charitable intent or a future inheritance where you want to bless your children and grandchildren, you're going to need to look at permanent.
Is it a good idea? You want to indemnify both earners. Almost all marriages today, both mom and dad are working, so you want to make sure that you indemnify them both, because all their liabilities, whether it's mortgage or long-term debt, those are all obligations that we carry together as working spouses.
Well, that's our consumer question for today. If you have any questions, just submit them to www.insurancelibrary.com.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
It is certainly a better idea than leaving those that you love with your obligations and without your income to assist in taking care of those commitments. If you have a spouse, children, dependent parents or others who you love, they would miss you but they will miss your love, assistance and income even more. Having a life insurance policy is the best way to say, “I love you” to anyone.
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Video Transcript: Hello, everyone. I'm Steve Savant, syndicated financial columnist and host of the weekly online talk show "Steve Savant's Money: The Name of the Game."
I'm answering questions from insurancelibrary.com, and today's question is: Is having life insurance a good idea?
Well, just remember, do you have financial liabilities? Do you have future obligations? Do you have any intention for charitable gifting or any kind of inheritance that you want to leave your children or grandchildren?
If any of those questions are yes, then you need to look at life insurance.
Now, it could be temporary life insurance, which is term life insurance, which is very, very inexpensive today. But if you have permanent obligations, permanent liabilities, or a charitable intent or a future inheritance where you want to bless your children and grandchildren, you're going to need to look at permanent.
Is it a good idea? You want to indemnify both earners. Almost all marriages today, both mom and dad are working, so you want to make sure that you indemnify them both, because all their liabilities, whether it's mortgage or long-term debt, those are all obligations that we carry together as working spouses.
Well, that's our consumer question for today. If you have any questions, just submit them to www.insurancelibrary.com.