In our experience, ER Docs tend to underestimate how much they need in insurance to cover those dependent on them. At the same time, too much coverage can take up a large amount of your monthly cash flow. So in this episode, we discuss the factors at play at coming up with the right amount. The answer is more individualistic than you may imagine, and without a financial plan in place, it’s essentially impossible to solve for.
Topics Discussed:
- The importance of planning for the right life insurance.
- The roles in handling finances and what to prepare for if one half of the couple passes away.
- The things that are in place and how they should kick in to help when most needed.
- Defining the types of life insurance.
- How to choose the best life insurance for your situation.
- What the process looks like to claim life insurance.
Resources Mentioned:
Tags
death, life insurance, family, planning, financial planning, ER doctor, doctors
