How Much Life Insurance Do Doctors Really Need?

Sep 21, 2022

What does a physician need to know about life insurance? What is the difference between cash value and term insurance? Do you have at least the average amount a physician needs to have in a life insurance policy? Tune in for answers to these important life insurance questions and to find out how much life insurance a physician family really needs. Getting started is easier than you think.

 

ASK A QUESTION

 

Send your questions about taxes, investing, extra money, retirement, college, and financial parenting to [e-mail] or call the Physician Family Answer Line at [phone].

 

IN THIS EPISODE

 

• [0:38] What is life insurance, and why is it important?
• [3:36] How much does a physician need? 
• [4:25] How should a physician calculate how much is needed for life insurance? 
• [10:52] How long does a physician need the coverage?
• [13:46] Some people don’t actually need life insurance, what does that look like? 
• [17:10] An example case for a single working physician family in their mid-30s with a family, calculating what is needed for life insurance. 
• [28:30] Where should a physician go to get life insurance? 
• [34:19] Modality of premiums. 

 

NOTICE

 

Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation.  Past performance is not indicative of future performance.