The fundamental question of how much life insurance to buy can only be answered when we know what it is exactly we are protecting. While its purpose is to protect your life, only you can determine what that might be worth to your family. Your vision of a “good life” for you and your family doesn’t usually go away after you’re gone.
Life insurance plays a crucial role in securing the financial future of a family. And, while the decision to buy a policy is an easy one, purchasing one can be vexing due to the overwhelming number of choices available.
For more than a century Americans fulfilled their life insurance needs with a venerable but rather stodgy and plain vanilla protection product called whole life. It served everyone extremely well, however, it never ranked among the more exciting things people liked to talk about.
Unquestionably there is an excitement that emanates from the world of stock picking, where fortunes are won and lost on trading floor arenas, and stock sleuths frantically search for the next Apple or Google.
The purchase of a life insurance policy will never make most peoples’ 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 and mind numbing. Some insurance agents can be annoying.
In the ever changing landscape of life insurance products, there remains one stalwart that has changed very little since the first American life insurance companies emerged in the mid 1800s - the Whole Life plan.
While our extended longevity should be greeted with gratitude for the possibility of enjoying a longer life with our grandchildren, many retirees are approaching it with trepidation, wondering if their hard earned assets will be sufficient to fulfill their vision of a good life for the rest of their life – however long it should last.
For most people, buying life insurance is difficult enough even when it’s done right.
Have you made up your mind on just about everything, even before you know what it is? For instance, when you meet someone, is your opinion of the person formed from the first impression? Or, when you hear a political argument from the other side, is your mind opened or closed? Are you able to concede the “good points” the other side make, or do you dismiss the whole argument?
Who doesn’t like options? We love them when buying a car, and we expect them when ordering lunch off a fast-food menu. When buying life insurance, however, too many options can not only increase confusion, it can often lead to making the wrong choice, or worse, no choice at all.
Young families with an eye to the future are faced with a daunting choice – to save earnestly for a secure retirement or to save for their children’s education. Can you do both?
This website provides general information regarding comprehensive financial planning and is not intended to provide financial planning or investment advice. Please seek professional advice. The information contained in this website is not intended to create an Advisor-Client relationship. An Advisor-Client relationship with this firm is established only upon signing our agreement that specifies the scope of engagement.
Chacko-Hertz Financial Solutions LLC is a Licensed Investment Advisor in Arizona and Hawaii. Our ADV Disclosure Brochure (in lieu of the ADV Part 2) is available upon request.
© 2025 Rebecca Chacko. All rights reserved.
