With their unique financial needs, and with so much at stake, physicians need to have a thorough understanding of how the two primary forms of life insurance work. All of the various forms of life insurance – whole life, term life, variable life, universal life and the dozens of variations of each –
The purchase of a life insurance policy will never make most physicians’ top ten list of favorite things to do. After all, there is a lot not to like in the whole process of buying life insurance. With hundreds of products from which to choose, it can be confusing. Insurance contracts can be complex
Most physicians who buy term insurance are satisfied that they are paying less for their coverage than they would with a permanent life insurance plan. Still, many might feel that, after 20 or 30 years of paying into a policy without ever needing it, is like throwing money down the drain. Of
Why Young Physicians Need Life InsuranceLife insurance is one of the most widely owned financial instruments because it can fulfill so many different needs. While the overriding need for most people is to provide financial security for those who are dependent in one way or another on a bread-winners
Should Physicians Own Term Life or Whole Life Insurance?The decision to buy life insurance is one of the most important that we can make in our financial lives. It requires careful consideration of our needs, concerns and priorities. When the decision is finally made it brings a sense of relief and
When Physicians Should Change Their Life Insurance CoverageThe one thing of which physicians can be certain is change. Life happens every day and, as a result, we are constantly assessing our situation and changing our course, usually by making small adjustments. A life insurance purchase is one
How Much Life Insurance Coverage Do You Really Need?One of our physician clients asks:I’ve been putting off buying life insurance, but now that I’m married with a baby on the way I need to do the responsible thing. I’ve settled on buying term insurance, but I’m not sure on how much I should get.
Four Simple Ways To Make Life Insurance More AffordableAccording to a study by LIMRA, a financial-services research firm, the amount of families in the U.S. who are not covered by life insurance has increased from 22 percent in 2004 to 30 percent. These figures mark a 50-year-low in life-insurance