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Episode 3224:
Sam challenges the assumption that financial independence eliminates the need for life insurance, offering seven compelling reasons to maintain or purchase a policy, even when you can self-insure. From estate liquidity to tax efficiency and protecting future dependents, he outlines how the peace of mind life insurance brings often outweighs the cost, especially for those with families or complex asset portfolios.
Read along with the original article(s) here: https://www.financialsamurai.com/get-life-insurance-financially-independent-can-self-insure/
Quotes to ponder:
"You may leave behind stocks, bonds, real estate, fine art, and collectibles, but they require an extra step to become liquid."
"If you think you’ve got a greater chance of dying before the term limit is up, then life insurance becomes a better deal."
"Providing peace of mind to your loved ones is a major reason why people buy life insurance."
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Optimal Finance Daily - Financial Independence and Money Advice