Category: The Conscious Consumer
Thoughts on why people buy – or postpone buying – life insurance. I often call upon studies of neuroscience, psychology, religion, and spirituality to explain consumer behavior.
“Whole life insurance is a waste of your money.”“Whole life insurance gives you the best value.”“Buy term and invest the rest.”“Term is a waste of money.”“Indexed universal life is the best deal out there.”“Guaranteed universal life is the best deal…
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Selecting a life insurance policy is both an art and a science. The “science” part is easy, and very commonly used. To calculate the coverage amount, consumers typically use a formula that factors in age and income, such as 12…
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Suppose you had a friend who was complaining of heart pain. You would be concerned, and not hesitate to refer him to a doctor whom you knew would take good care of him. What about a relative who was getting…
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Financial advisers and coaches frequently ask me if wealthy people need life insurance. Couldn’t they afford to self-insure? My answer is always this: sure they could self-insure, but why would they want to? Life insurance gives them tremendous leverage: every…
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Yes, you should. It’s all part of protecting your insurability, and thinking ahead. Don’t wait until you have responsibilities, dependents, and debts. You can’t assume you will be insurable tomorrow, and at a good rate. Here are some factors to…
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Financial advisers often ask me how to get the conversation started with their clients about life insurance. They know that odds are the client is not sufficiently covered, but need an effective way to broach the topic. Here are 10…
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There are lot of “plusses’ to not retiring. And they definitely influence life insurance planning. Let me explain. My father Leon Kobrin worked into the last year of his life. So did his father, my Grandpa Harry. You can bet…
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I have had some very deep and moving conversations with clients recently. They each dealt with the “taboo” topic that people like to brush under the rug: death; in particular, their own mortality. The topic of life insurance can make…
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Is buying term insurance as easy as logging on to an-online platform, and simply picking the lowest premium? Not always. As a matter of fact, it usually is not. First of all, you have the qualifying underwriting questions. A “yes”…
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What kind of thoughts keep you up in the middle of the night? For many of us, they are financial worries. Job security. Paying bills on time. Debt. Keeping up with inflation. Underneath it all, is the nagging fear that…
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