Episode 49: Making the Most of Your Life Insurance Policies

by Financial Design Studio, Inc. / August 5, 2024

Young families, professionals, and retirees will come to us with questions about their life insurance policies. Do they have enough coverage? Should they keep this old policy? And how can they can actually be used? We talk through each of these issues in this episode.

Take a listen right here, or head over to your favorite steaming platform!

Key Moments

1:24 What is life insurance?

2:47 What are the types of life insurance?

6:45 How are these policies given?

10:54 What will the life insurance policy do for you?

14:50 What coverage do you need for each life stage?

26:27 What are common mistakes?

29:32 How can these policies actually be used?

32:13 How does a beneficiary claim this policy?

Links Related to Life Insurance Policies

Want to check out our other episodes on insurance? Listen to Episode 17, Insurance Mistakes and Misconceptions or Episode 26, Are You Getting the Best Insurance Money Can Buy?

Watch these videos to find in depth explanations:

Read our article on How to Choose Open Enrollment Benefits

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If you want to hear even more episodes, like this one, be sure to subscribe to the Behind the Designs podcast on your favorite streaming platform! The Behind the Designs podcast shares with you an inside perspective at how financial advisors think about money. We’ll see you in the next episode.

Credits for Episode 49

Host and Executive Producer: Anna Lewis

Guest : Michelle Smalenberger, CFP®

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Posted in Behind the Designs

Financial Design Studio, Inc.

We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.