By any reasonable standard they sound more like excuses.
Forget about what it is. Time for that later.
What it does is simple. It creates a bank deposit to deal with liquidity or asset needs in an estate. It protects assets that exist from liabilities that arise at death. Like taxes and loans. Or it replaces assets that cease to exist at death. Like a career.
Replace or protect.That’s it. Just two things.
The considerations are:
The duration of the need.
Forever is a different problem than paying off a loan that will be gone in ten years. Forever has a higher price as you would expect.
Most people have larger needs when they are young. But have little capital. There is a form for that.
Life insurance is just a tool to provide predictability about the future. It is common sense. Remember the fundamental purpose. Protect or replace. You won’t have much trouble understanding it after that.
I help business owners, professionals, and others understand and manage risk and other financial issues. To help them achieve their goals, I use tax efficiencies and design advantages to acquire more efficient income and larger, more liquid estates.
In previous careers, I have been a partner in a large, international public accounting firm, CEO of a software start-up, a partner in an energy management system importer, and briefly in the restaurant business.
Please be in touch if I can help you. firstname.lastname@example.org 705-927-4770