The Savvy Parent Podcast: Understanding Life Insurance

The Savvy Parent Podcast: Understanding Life Insurance

PODCAST – On this episode of The Savvy Parent Podcast we’re joined by Erin Ardleigh, President of Dynama insurance. We want to make sure you know all about this critical piece of your estate plan: life insurance. 

Getting your life insurance policy set up is such an important task for parents to take care of. But, it can be hard to know where to start so Erin and Shannon discuss the topic of life insurance from the types of policies that exist and how much you should have in insurance to the legal considerations you need to make to ensure your money is used as you intend in the event something happens. 

Get Educated

One of Erin’s best pieces of advice is that you should get educated as you work on this process of securing life insurance. She shares about the types of policies that exist and what you need to pay attention to when doing your research. If you’re not getting educated along the way, then you might not be ready to make your final decision.

Even if you already have an existing policy, Erin and Shannon shed light on areas you may not have considered yet. For example, did you shop around when you got your policy? Did you know that beneficiary designations on the policy itself trump your will? This episode is full of education when it comes to understanding life insurance as a parent. 

Take the steps to get your life insurance in place

This is an area that parents may feel nervous about tackling, but take the time to start researching. We also encourage you to go beyond just looking online: talk to an independent broker and make sure you look at least three different companies and compare two kinds of products. Once you have your life insurance in place, and protected through your estate plan, you’ll breathe a sigh of relief!

Resources mentioned

Visit Dynama Insurance for more information on life insurance policies

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