Kiplinger

Is Your Insurance Hurting You Instead of Helping You?

Life insurance is probably the most underappreciated and mis-sold element in financial planning, but with proper integration, it can be an almost indispensable vehicle for wealth transfer.

Many people first consider buying life insurance when they purchase a home, get married and/or start a family. Taking on a substantial amount of long-term debt reframes your perspective on monthly expenses as your bills are now no longer one-offs but recurring every month for the next 30 years. Additionally, when you get married or have your first child you realize that income-replacement measures provide peace of mind for everyone involved. And for high-earning professionals, business owners and families of multi-generational wealth, life insurance can play an important role in income tax planning and estate planning as well. But

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