What’s Your Focus?

Jim Lorenzen, CFP®, AIF®

Most people buy life insurance based on the same outdated advice they’ve been given for years.   It’s predictable:  buy term – and, for many people term insurance makes the most sense!   Others have been told they should buy “whole life” because it’s permanent and comes with the most guarantees; and, for many people that probably is the best choice – and it does come with the most guarantees.

All generally agree they should buy the most amount of death benefit for the least amount of money – and in some cases, that’s true as well – but, not in all cases.

Different strategies and case designs are possible to achieve a wide variety of objectives and all can make sense for some people and not for others.    This should be no surprise.  There are people who are allergic to foods other people love – my dad, for example, couldn’t eat peanuts, but I could munch on them all afternoon.

If you’re wondering what kind of life insurance strategy makes the most sense for you, the first thing to do is to identify your focus – your priorities.  Life insurance can be simple death protection or it can function as a highly versatile financial tool accomplishing a number of objectives.

What’s your focus?  What do you want life insurance to accomplish for you?  Here’s a little tool you can use to help identify your focus; so, when you talk to an advisor (naturally I hope it’s me, but it can be anyone you trust), you’ll be able to more clearly communicate just what your needs really are.

Hope you find this helpful.
What’s Your Focus Life Insurance Priorities Tool

By the way, when you request this tool, you’ll also receive future issues of my ezine.  I hope you find that helpful, as well; but, you can unsubscribe at any time and be removed from the list immediately.



Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group, a  registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.