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

You're reading a preview, sign up to read more.

More from Kiplinger

Kiplinger5 min read
Wealth Shame: When Wealth Changes Your Life (and Not Everyone Else's)
In the modern classic American Graffiti, Richard Dreyfuss plays a recently graduated high schooler. In one symbolic scene, he tries to open his old locker using his old combination. It doesn't work. He gives a smile with a tear behind it and walks aw
Kiplinger2 min read
Health Plans for Early Retirees
[Question]My wife and I plan to retire at age 55. Our main concern is what to do about health care until we are eligible for Medicare. What are our options? [Answer]As early retirees, you'll have several options for health insurance coverage until yo
Kiplinger1 min read
Is the Stock Market Open on Veterans Day?
Many on Wall Street are working Monday, even if you aren't. The stock market is open on Veterans Day, a 2019 federal holiday, during regular trading hours. However, the bond market will be closed on Veterans Day, November 11. Bond trading resumes on