From the course: Risk Management and Insurance Planning: Designing for Client Needs
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Introduction to life insurance
From the course: Risk Management and Insurance Planning: Designing for Client Needs
Introduction to life insurance
One of the most impactful risks we face is the risk of death. Not only is it impactful, but no one knows exactly when they will die. We cannot eliminate this uncertainty, but life insurance helps remove some of this risk by providing some certainty about the availability of future income and savings. People buy life insurance for many different and personal reasons. For financial planners, the most common goal for their clients is to ensure that their loved ones will maintain the desired lifestyle, even though they are not able to earn the income to provide that lifestyle. And this is exactly the case for the Pritchett's. Let's take a minute to pause and turn our attention to Preetam as he meets with his client's family, the Pritchett's, to talk about how they can best protect their financial plan using insurance products, starting with life insurance. As you watch, pay attention to how Preetam interacts with the Pritchett's as they discuss a financial product that is associated with…
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