4.8 • 3.6K Ratings
🗓️ 19 February 2025
⏱️ 8 minutes
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0:00.0 | So to an extent, insurance is something that can almost just run on autopilot after you opt in, |
0:11.0 | but there are a few important reasons why you need to reassess your coverage along the way during your life. |
0:17.2 | And today, I'm going to share those with you. |
0:18.9 | Now, before we begin, make sure to like this |
0:20.9 | video, subscribe to the channel and share it with a friend. All right, let's go over the four |
0:25.8 | main types of insurance and when you might need to reevaluate them. And I'm going to leave a link |
0:31.3 | to Ramsey's coverage checkup so you can actually do your own coverage checkup and realize, |
0:36.5 | okay, here's the status that I am to |
0:38.1 | make sure that you are prepared. So I'll leave that link down below. Make sure to check that out. |
0:42.4 | All right, number one is life insurance. So life insurance is insurance that if something happens |
0:48.8 | to you, aka you're done, you know, you die. There is money left over for people. Now, there is life insurance, |
0:56.4 | like whole life insurance, which I don't like, because it's like an investment and life insurance |
1:02.6 | for your whole life and all of this. Or there is term life insurance, which is much cheaper. You have |
1:07.7 | it for a term, so for 30 years or whatever it may be. Again, that's the life |
1:11.5 | insurance I like. It's inexpensive. It's just what you need. But that is what it is, regardless of what |
1:15.8 | you get, if you kick the can, whatever that's saying is, and you're out of here, money goes to people |
1:22.6 | that you love in your life that you leave this insurance money to. So this coverage will change if number one, |
1:29.3 | you get married. Okay. So this is probably really the first big step in the order of life that you |
1:36.1 | really need life insurance because you really only need life insurance of someone that's dependent |
1:39.5 | upon your income. So if you and your spouse together are creating a lifestyle that both incomes are needed and one of |
1:46.4 | you passes away, the other one is going to need that type of income to maintain the lifestyle that they |
1:53.9 | are living. So if you get married, I think life insurance is a great thing to look into and to get. |
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