By Mike Guarino
If you were to die tomorrow, what would happen to your family? Would they be able to cover their basic living expenses? Would your kids be able to go to college? Although many people try to avoid this uncomfortable topic, the answers to these questions are vital to your family’s well-being. According to a 2017 study conducted by LIMRA, more than half of consumers say they would have immediate or near-immediate trouble covering living expenses if their primary wage-earner died. But despite this bleak statistic, only 54% of Americans having any form of life insurance at all. And of those who do have coverage, more than 30% say they are underinsured.1
While there are many important aspects to financial planning, such as setting goals, aligning your portfolio with your risk level, and planning for future life milestones, life insurance plays a critical role when the necessary time comes. The tricky part is knowing if you need life insurance and, if so, how much and what type is appropriate for your situation. This is where a life insurance review comes in. Here are three questions we will discuss during your life insurance review with us at Guarino Wealth Management.[Read more…] about Do You Need A Life Insurance Review?