Life Insurance: Choosing the Appropriate Time to Acquire and Terminate It

There’s no magical date marked on the calendar telling you when to get life insurance. 

So, when should you get it, and is there a time you should get rid of it?

In this episode, Zacc Call and Laura Hadley discuss both when to get and when to drop life insurance. Zacc shares his journey with life insurance, starting from when he married at 22, highlighting its importance for end-of-life expenses and family support. 

They explore the financial implications of death, such as mortgage and income continuation for survivors, emphasizing tailored coverage. The advisors also consider when retirees might drop life insurance, noting that those with ample assets may not need it. 

Zacc and Laura discuss:

  • How to time your life insurance
  • When to hold onto your policy, and when to let it go
  • What financial problems your death may create
  • What financial plan tweaks should happen as your life progresses
  • And more

Related: Are You Constantly Being Pitched Life Insurance?