Episode description
Life insurance is the unsung hero of estate planning. Sure you hear the stories of misleading insurance brokers and greedy providers but if you take the time to understand the wording of the policy and what you’re covered for, then it can really do a lot for you and your family.
I can think of an instance with Greg where his late wife in her thirties was diagnosed with terminal cancer and only given 6 months to live. She would go on to live for another 8 years where, in between looking after two young children, paying the mortgage of their new home and working in a commission-only financial advisory role, he would look after her.
You can imagine the toll this took on the family emotionally, financially and all whilst having insufficient insurance.
At the time it made more sense to have more cover for Greg as he was working full time.
A fair thing to do though in hindsight equal coverage could have helped them both substantially.
So, to ensure you don’t replicate this with your own family it’s important that you listen to today’s podcast episode.
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