Go offline with the Player FM app!
134: Life Insurance with Bruce Komarow
Manage episode 355838667 series 2763596
A chat with insurance broker Bruce Komarow about life insurance.
Topics:
⭐️ Term
⭐️ Whole
⭐️ Universal
⭐️ Blending Types
⭐️ Health Screenings
⭐️ How insurance is regulated
⭐️ How much coverage to get
⭐️ Where and how to purchase
⭐️ Converting Term to Whole up until age 65
⭐️ Variable Universal for those trying to get a higher return
Takeaways:
⭐️ Term is the least expensive
⭐️ Whole builds cash value and guarantees a payout but is more expensive
⭐️ Universal is the least expensive way to access a whole life policy but as common as Term or Whole
⭐️ Variable Universal is for people who want to use life insurance as a vehicle to take advantage of stock market growth to get a higher value out of the asset. But, it comes with the risk that the market could take a downturn when the time arrives to redeem the policy.
⭐️ If you’re looking at term with the idea you may switch to whole, be sure to check that the company is reputable and has that option.
⭐️ Insurance is State Specific. I’m bringing this up because states like California and New York have stronger consumer protection laws. All else being equal, a company that can do business in New York might be a safer option than one that can’t operate in New York.
⭐️Hot take from Ethan … Life insurance, could be like a mortgage for people who don't "invest" in real estate. A life insurance policy is forced savings and low maintenance.
If you are looking for life insurance…
⭐️ Ask the people around you for recommendations
⭐️ Find a broker or non captive agent
⭐️ Make sure you can afford it
Bruce Komarow - LinkedIn:
https://www.linkedin.com/in/bruceallenkomarow/
How Much Life Insurance Should You Carry?
https://www.investopedia.com/articles/pf/06/insureneeds.asp
Life Insurance Calculator:
Previous Episodes of Interest:
The Ultimate Guide To Finding A Financial Advisor - with Matt Kweller:
https://www.youtube.com/watch?v=iFEkgeQMYtk&ab_channel=ArtisticFinance
Part 2 - The Ultimate Guide To Finding A Financial Advisor - with Matt Kweller:
https://www.youtube.com/watch?v=ALwy55eZlTM&t=12s&ab_channel=ArtisticFinance
6k Investing Special:
Carl Faber - Be Your Own Financial Advocate: https://www.youtube.com/watch?v=FdZI-plB6aU&ab_channel=ArtisticFinance
Book Club - A Cat's Guide To Money by Lillian Karabaic:
https://www.youtube.com/watch?v=EtNmDVtJ6hM&t=707s&ab_channel=ArtisticFinance
...
Become a patron: www.patreon.com/artisticfinance Interview by Ethan Steimel Instagram handles: @ethansteimel @artisticfinance
176 episodes
Manage episode 355838667 series 2763596
A chat with insurance broker Bruce Komarow about life insurance.
Topics:
⭐️ Term
⭐️ Whole
⭐️ Universal
⭐️ Blending Types
⭐️ Health Screenings
⭐️ How insurance is regulated
⭐️ How much coverage to get
⭐️ Where and how to purchase
⭐️ Converting Term to Whole up until age 65
⭐️ Variable Universal for those trying to get a higher return
Takeaways:
⭐️ Term is the least expensive
⭐️ Whole builds cash value and guarantees a payout but is more expensive
⭐️ Universal is the least expensive way to access a whole life policy but as common as Term or Whole
⭐️ Variable Universal is for people who want to use life insurance as a vehicle to take advantage of stock market growth to get a higher value out of the asset. But, it comes with the risk that the market could take a downturn when the time arrives to redeem the policy.
⭐️ If you’re looking at term with the idea you may switch to whole, be sure to check that the company is reputable and has that option.
⭐️ Insurance is State Specific. I’m bringing this up because states like California and New York have stronger consumer protection laws. All else being equal, a company that can do business in New York might be a safer option than one that can’t operate in New York.
⭐️Hot take from Ethan … Life insurance, could be like a mortgage for people who don't "invest" in real estate. A life insurance policy is forced savings and low maintenance.
If you are looking for life insurance…
⭐️ Ask the people around you for recommendations
⭐️ Find a broker or non captive agent
⭐️ Make sure you can afford it
Bruce Komarow - LinkedIn:
https://www.linkedin.com/in/bruceallenkomarow/
How Much Life Insurance Should You Carry?
https://www.investopedia.com/articles/pf/06/insureneeds.asp
Life Insurance Calculator:
Previous Episodes of Interest:
The Ultimate Guide To Finding A Financial Advisor - with Matt Kweller:
https://www.youtube.com/watch?v=iFEkgeQMYtk&ab_channel=ArtisticFinance
Part 2 - The Ultimate Guide To Finding A Financial Advisor - with Matt Kweller:
https://www.youtube.com/watch?v=ALwy55eZlTM&t=12s&ab_channel=ArtisticFinance
6k Investing Special:
Carl Faber - Be Your Own Financial Advocate: https://www.youtube.com/watch?v=FdZI-plB6aU&ab_channel=ArtisticFinance
Book Club - A Cat's Guide To Money by Lillian Karabaic:
https://www.youtube.com/watch?v=EtNmDVtJ6hM&t=707s&ab_channel=ArtisticFinance
...
Become a patron: www.patreon.com/artisticfinance Interview by Ethan Steimel Instagram handles: @ethansteimel @artisticfinance
176 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.